Macatawa Bank Corp.
0.0 %
38.56 %
Yet to be announced
Company Overview
Macatawa Bank provides commercial and consumer banking and trust services. The company accepts various deposits, such as checking accounts, savings accounts, time deposits, regular and money market savings accounts. It also offers ATM and debit card processing, cash management, trust, and brokerage services. As of December 31, 2021, the company had 26 full-service branches in Kent, Ottawa, and northern Allegan counties.
Revenue Sources
Based on the financial data provided, the company operates as a traditional bank, with its primary revenue coming from interest-based lending activities. This is evident in the interest income figures which constitute the majority of total revenue across all quarters examined.
Reliance on Interest
| Reporting Date | Total Revenue | Total Expense | Interest Income | Interest Expense | Interest Income Ratio | Interest Expense Ratio |
|---|---|---|---|---|---|---|
| March 31, 2024 | $25.39m | $8.35m | $20.73m | $8.35m | 81.64% | 100.00% |
| Dec. 31, 2023 | $26.12m | $8.2m | $21.44m | $8.2m | 82.07% | 100.00% |
| Sept. 30, 2023 | $26.86m | $7.54m | $22.24m | $7.54m | 82.81% | 100.00% |
| June 30, 2023 | $25.76m | $5.97m | $21.15m | $5.97m | 82.09% | 100.00% |
The company's business model is fundamentally based on interest income and expense. Interest income represents over 80% of total revenue in all examined quarters, while interest expense forms a significant portion of total expenses. This indicates that interest is central to the company's operations rather than incidental.
Operational Ethics
Based on available information from SEC filings and company materials, there is no evidence of significant associations with entities involved in human rights violations such as the state of Israel or the Chinese Communist Party.
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