HOLLAND, MI (WHTC-AM/FM) – It was another good quarter on the bottom line for Macatawa Bank.
After the markets closed on Thursday, the Holland-based financial institution announced results for the second three-month period of 2018, saying in its statement that it was “reflecting continued strong financial performance.” Net income of 6.7 million dollars for the period was 41 percent better than the 4.8 million garnered during the same time frame a year earlier, with net interest income improved by 15 percent, overhead costs held to a two-percent increase, and other indicators were also better than levels seen as 2017 reached its halfway mark. Company officials mentioned that earnings “were positively impacted by continued earning asset growth, net interest margin improvement, and a lower corporate federal income tax rate due to tax reform enacted at the end of 2017.”
In the statement, Macatawa Bank President and CEO Ronald Hahn is quoted as saying, “Our commitment to providing excellent service while operating a well-disciplined company continues to produce strong and consistent financial performance for our shareholders … these results demonstrate that Macatawa Bank Corporation remains well-positioned for continued growth and success in the second half of 2018.”
