| Business Summary | | Macatawa
Bank
Corporation,
a
bank
holding
company,
owns
all
of
the
common
stock
of
Macatawa
Bank.
The
Bank
provides
a
full
range
of
commercial
and
consumer-banking
services,
through
its
network
of
13
full-service
branches
located
in
communities
in
Michigan's
counties
of
Ottawa,
northern
Allegan
and
southwestern
Kent.
The
Bank's
services
include
checking
and
savings
accounts,
including
certificates
of
deposit;
safe
deposit
boxes;
travelers
checks;
money
orders;
trust
services;
and
commercial,
mortgage
and
consumer
loans. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Macatawa
Bank
Corporation
is
a
bank
holding
company
for
Macatawa
Bank,
a
state
chartered
bank
with
13
offices
in
Michigan.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
35%
to
$20.9
million.
Net
interest
income
after
loan
loss
provision
rose
38%
to
$9
million.
Net
income
rose
70%
to
$2.3
million.
Results
reflect
higher
average
loan
balances,
increased
gains
on
the
sale
of
loans
and
increased
service
charges
on
deposit
accounts. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Benj. Smith, III, 57 Chairman
of Directors and CEO | $150K | Steven Germond, 47 CFO | 69K | Philip Koning, 46 Sec.,
Treasurer | 179K | Ray Tooker, 57 Sr.
VP Loan Admin. of the Bank | 130K | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|