Macatawa Bank Corporation (MCBC)

Macatawa Bank Income Statement

Financials in millions USD. Fiscal year is January - December.

Year Ending	TTM	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	103.58	105.34	91.29	81.81	82.51	83.67
Revenue Growth (YoY)	4.31%	15.39%	11.58%	-0.85%	-1.38%	9.11%
Gross Profit	103.58	105.34	91.29	81.81	82.51	83.67
Selling, General & Admin	43.79	43.21	39.92	38.36	38.52	36.94
Other Operating Expenses	8.88	8.38	8.3	7.73	7.21	7.28
Operating Expenses	52.67	51.59	48.23	46.09	45.73	44.22
Operating Income	50.91	53.75	43.06	35.72	36.79	39.44
Pretax Income	50.91	53.75	43.06	35.72	36.79	39.44
Income Tax	9.9	10.52	8.33	6.71	6.62	7.46
Net Income	41.01	43.22	34.73	29.01	30.17	31.98
Net Income Growth	0.68%	24.45%	19.70%	-3.82%	-5.67%	21.23%
Shares Outstanding (Basic)	34	34	34	34	34	34
Shares Change	0.18%	0.13%	0.17%	0.26%	0.12%	0.14%
EPS (Basic)	1.20	1.26	1.01	0.85	0.88	0.94
EPS (Diluted)	1.20	1.26	1.01	0.85	0.88	0.94
EPS Growth	1.69%	24.75%	18.82%	-3.41%	-6.38%	20.51%
Free Cash Flow	40.34	46.06	34.05	35.1	28.49	29.02
Free Cash Flow Per Share	1.17	1.34	0.99	1.03	0.84	0.85
Dividend Per Share	0.340	0.330	0.320	0.320	0.320	0.280
Dividend Growth	6.25%	3.13%	0%	0%	14.29%	12.00%
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Operating Margin	49.15%	51.02%	47.17%	43.66%	44.58%	47.14%
Profit Margin	39.60%	41.03%	38.04%	35.46%	36.56%	38.22%
Free Cash Flow Margin	38.95%	43.73%	37.30%	42.90%	34.53%	34.69%
Effective Tax Rate	19.44%	19.58%	19.35%	18.78%	18.00%	18.92%
EBITDA	51.54	54.06	44.62	38.45	39.41	41.65
EBITDA Margin	49.76%	51.32%	48.88%	46.99%	47.76%	49.79%
Depreciation & Amortization	0.63	0.32	1.56	2.72	2.62	2.21
EBIT	50.91	53.75	43.06	35.72	36.79	39.44
EBIT Margin	49.15%	51.02%	47.17%	43.66%	44.58%	47.14%

Source: Financials are provided by Nasdaq Data Link and sourced from the audited annual (10-K) and quarterly (10-Q) reports submitted to the Securities and Exchange Commission (SEC).