Macatawa Bank

Headquarters

10753 Macatawa Dr
Holland, MI 49424
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.05% 1.20% →
1-Year CD 0.15% 1.10% →
2-Year CD 0.25% 1.15% →
5-Year CD 0.30% 1.56% →
30-Year Mortgage 4.81% 3.09% →
15-Year Mortgage 3.62% 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Macatawa Bank is an FDIC insured institution located in Holland, MI. It was founded in 1997 and has approximately $2.03 billion in assets. Customers can open an account at one of its 30 branches.

FDIC Insured Yes
FDIC Certificate # 34618
Date Established 1997
Assets $ 2.03 billion
Loans $ 1,378.42 million
Deposits $ 1,712.31 million
Capital $ 236.64 million
 

For a more detailed analysis of Macatawa Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - August 7, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates APY MIN MAX
Savings
0.05% $2,500 $4,999 Learn More
Money Market
0.05% $2,500 $2,999 Learn More
Money Market
0.05% $10,000 $14,999 Learn More
Money Market
0.05% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.10% $10,000 $14,999 Learn More
3 Mo CD
0.10% $100,000 $199,999 Learn More
6 Mo CD
0.10% $10,000 $14,999 Learn More
6 Mo CD
0.10% $100,000 $199,999 Learn More
12 Mo CD
0.15% $10,000 $14,999 Learn More
12 Mo CD
0.15% $100,000 $199,999 Learn More
18 Mo CD
0.15% $10,000 $14,999 Learn More
18 Mo CD
0.15% $100,000 $199,999 Learn More
24 Mo CD
0.25% $10,000 $14,999 Learn More
24 Mo CD
0.25% $100,000 $199,999 Learn More
30 Mo CD
0.25% $10,000 $14,999 Learn More
30 Mo CD
0.25% $100,000 $199,999 Learn More
36 Mo CD
0.30% $10,000 $14,999 Learn More
36 Mo CD
0.30% $100,000 $199,999 Learn More
48 Mo CD
0.30% $10,000 $14,999 Learn More
48 Mo CD
0.30% $100,000 $199,999 Learn More
60 Mo CD
0.30% $10,000 $14,999 Learn More
60 Mo CD
0.30% $100,000 $199,999 Learn More

Variable IRA Rates APY MIN MAX
Var IRA
0.01% $1 $499 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.01% $1 $99 Learn MoreShow Less
Int Ckg
0.01% $2,500 $3,499 Learn MoreShow Less

Loan Rates - August 7, 2020

Your Current Location: Virginia, VA 20146

Home Equity Rates APR Rate Monthly Payment
Auto Loan Rates APR Rate Monthly Payment
5 Year 4.04% 3.74% $457.49
Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

Branches

Macatawa Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


Macatawa Bank Locations


Financial Details

Macatawa Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Macatawa Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Macatawa Bank U.S. Bank Average
3.86% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, Macatawa Bank had $7,230,000 in non-current loans and $2,626,000 in owned real estate. To cover these potential losses it had $236,641,000 in equity and $18,889,000 in loans loss reserves. That gives it a Texas Ratio of 3.86%.

Return on Equity
Macatawa Bank U.S. Bank Average
11.57% 7.80%

Macatawa Bank has a Return on Equity of 11.57% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Macatawa Bank U.S. Bank Average
11.66% 12.68%

Macatawa Bank has a Capitalization of 11.66% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Macatawa Bank Balance Sheet Analysis

As of March 31, 2020, Macatawa Bank had assets of $2,030,324,000, loans of $1,378,418,000, and deposits of $1,712,313,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 187.17 million
Interest-bearing balances $ 161.31 million
Total securities $ 327.38 million
Federal funds sold and reverse repurchase $ 20.03 million
Net loans and leases $ 1,378.42 million
Loan loss allowance $ 18.89 million
Trading account assets $ 4.30 million
Bank premises and fixed assets N.A.
Other real estate owned $ 2.63 million
Goodwill and other intangibles N.A.
All other assets $ 67.42 million
     Total Assets $ 1,793.68 million
LIABILITIES
Total deposits $ 1,712.31 million
      Interest-bearing deposits $ 1,212.97 million
      Deposits held in domestic offices $ 1,712.31 million
      % insured (estimated) 62.48%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities $ 4.30 million
Other borrowed funds $ 70.00 million
Subordinated debt N.A.
All other liabilities $ 7.08 million
      Total Liabilities $ 1,793.68 million
      Shareholders’ Equity $ 236.64 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 17.50 million
Total Interest Expense $ 1.95 million
Net interest income $ 15.54 million
Provision for loan and lease losses $ 0.70 million
Total non interest income $ 4.91 million
Total non interest expense $ 11.49 million
Pre-tax Net Operating Income $ 8.26 million

Bank Loan Profile?

The top three loan types in Macatawa Bank’s loan portfolio are Commercial and Industrial Loans, Commercial Real Estate, and 1-4 Family Residential Loans.

Compared to other banks in Michigan, Macatawa Bank has a significantly higher percent of Multifamily Mortgages, Commercial and Industrial Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 19.78
Multifamily
Mortgages
5.41
Credit Card Loans 0.00
Consumer Auto Loans 0.17
Small Business Loans 0.00
Construction and Development Loans 6.27
Commercial Real Estate 27.94
Commercial and Industrial Loans 34.79
Farm Loans 2.82

Frequently Asked Questions About Macatawa Bank

Branches and Savings

Is Macatawa Bank FDIC insured?

Yes. It is covered under FDIC Certificate #34618.

Why does Macatawa Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Macatawa Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Macatawa Bank a commercial bank?

Yes

Where are Macatawa Bank locations?

See branch locations nearby.

Is Macatawa Bank open on Saturdays?

Is Macatawa Bank open on Sundays?

What time does Macatawa Bank open?

What time does Macatawa Bank close?

Are Macatawa Bank ATMs Open 24/7?

Do Macatawa Bank ATMs accept cash deposits?

Can Macatawa Bank customers use other ATMs?

Do Macatawa Bank branches have notaries?

Will Macatawa Bank notarize my document?

What address for Macatawa Bank should I put for incoming ACH transfers?

Will the Macatawa Bank branch print checks?

Do Macatawa Bank checks expire?

Does Macatawa Bank require US citizenship to open account?

Can Macatawa Bank close my account?

Does Macatawa Bank Report to credit bureaus?

Does Macatawa Bank Use Equifax?

What is Macatawa Bank's ACH Routing Number?

What is Macatawa Bank's SWIFT code?

Products

Does Macatawa Bank offer mortgages?

Compare mortgage rates here.

Does Macatawa Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Macatawa Bank offer personal loans?

Compare personal loan rates here.

Does Macatawa Bank offer student loans?

Will Macatawa Bank cash a check?

Will Macatawa Bank redeem a savings bond?

Does Macatawa Bank cash savings bonds?

Will Macatawa Bank cash money orders?

Can Macatawa Bank issue a money order?

Does Macatawa Bank do currency exchange?

Background on The Bank

Who owns Macatawa Bank?

How long has Macatawa Bank been around?

Can Macatawa Bank transfer to other banks?

Does Macatawa Bank have quick pay?

Does Macatawa Bank accept rolled coins?

Will Macatawa Bank accept loose change?

Where is Macatawa Bank headquarters?

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