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Macatawa: Q1 Earnings Snapshot

April 22, 2021 GMT

HOLLAND, Mich. (AP) _ Macatawa Bank Corp. (MCBC) on Thursday reported first-quarter net income of $7.8 million.

The Holland, Michigan-based bank said it had earnings of 23 cents per share.

The holding company for Macatawa Bank posted revenue of $21.8 million in the period. Its revenue net of interest expense was $21 million, exceeding Street forecasts.

Macatawa shares have increased 16% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.71, an increase of 38% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MCBC at https://www.zacks.com/ap/MCBC