HOLLAND TWP., MI (WHTC) – It was another good quarter for Macatawa Bank.
After the markets closed on Thursday, the Holland Township-based financial institution posted three-month numbers of 4.6 million dollars in net income, up 44 percent from 3.2 million in the same span last year. Total loans were up 24.6 million dollars, resulting in an annualized growth rate of just over eight percent. There was a revenue increase of 1.4 million dollars for the quarter from the same three-month period in 2015 while expenses were flat.
In a statement, bank President and CEO Ronald Hahn said, “For the last several quarters, we have been able to grow our revenue while maintaining a disciplined approach to expenses. We have also been able to grow our loan portfolio while strengthening our capital levels. These achievements reflect a discipline that will continue to guide our focus in coming quarters.”
