$332.7 M

MCBC Mkt cap, 17-Jan-2019

$22.2 M

Macatawa Bank Revenue Q3, 2018
Macatawa Bank Gross profit (Q3, 2018)19.7 M
Macatawa Bank Gross profit margin (Q3, 2018), %88.6%
Macatawa Bank Net income (Q3, 2018)6.9 M
Macatawa Bank EBIT (Q3, 2018)15.2 M
Macatawa Bank Cash, 30-Sep-2018183.2 M
Macatawa Bank EV190.7 M

Macatawa Bank Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

64.8m63.2m67.2m71.6m75.1m

Revenue growth, %

(2%)(22%)6%

Cost of goods sold

5.3m5.0m5.7m

Gross profit

61.9m66.6m69.4m

Gross profit Margin, %

92%93%92%

Sales and marketing expense

24.7m24.9m24.8m

R&D expense

2.5m2.8m2.8m

Operating expense total

27.2m27.7m27.6m

EBIT

45.5m44.7m47.6m48.9m53.3m

EBIT margin, %

70%71%71%68%71%

Interest expense

7.3m5.6m

Pre tax profit

13.8m15.0m18.4m22.2m27.0m

Income tax expense

4.3m4.6m5.6m6.2m10.7m

Net Income

9.5m10.5m12.8m16.0m16.3m

Macatawa Bank Balance Sheet

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

156.9m129.5m181.5m89.8m161.5m

Accounts Receivable

3.2m3.4m3.6m4.1m

Inventories

Total Assets

1.5b1.6b1.7b1.7b1.9b

Accounts Payable

1.2b1.4b1.4b1.6b

Short-term debt

Long-term debt

41.2m41.2m41.2m41.2m41.2m

Total Debt

41.2m41.2m41.2m41.2m

Total Liabilities

1.4b1.6b1.6b1.7b

Preferred Stock

Retained Earnings

(81.8m)(74.0m)(64.9m)(53.0m)(42.8m)

Total Equity

132.5m142.5m152.0m162.2m173.0m

Debt to Equity Ratio

0.3 x0.2 x

Debt to Assets Ratio

0 x0 x

Financial Leverage

11.5 x11.1 x11.4 x10.7 x10.9 x

Macatawa Bank Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

9.5m10.5m12.8m16.0m16.3m

Depreciation and Amortization

3.1m3.1m3.0m2.8m2.3m

Accounts Receivable

Inventories

Accounts Payable

(3.7m)

Cash From Operating Activities

16.3m16.6m14.0m16.9m22.8m

Purchases of PP&E

(42.6m)(43.9m)(59.8m)(89.2m)(62.1m)

Cash From Investing Activities

(41.0m)(95.8m)(95.3m)(105.3m)(83.2m)

Dividends Paid

(2.7m)(3.7m)(4.0m)(6.1m)

Cash From Financing Activities

(44.8m)51.8m133.3m(3.2m)132.0m

Interest Paid

11.9m5.6m5.3m5.0m5.4m

Income Taxes Paid

120.0k90.0k4.3m6.2m4.7m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Net Income

7.3m2.6m5.4m8.2m2.8m6.1m9.3m3.5m7.2m11.8m4.5m9.2m14.1m5.8m12.5m19.3m

Depreciation and Amortization

2.3m774.0k1.6m2.4m684.0k1.5m2.2m659.0k1.4m2.1m537.0k973.0k1.4m534.0k1.3m1.9m

Accounts Payable

1.6m

Cash From Operating Activities

16.0m6.8m10.8m13.1m727.0k2.2m7.8m5.1m9.9m13.7m5.4m10.3m18.9m7.6m13.9m21.7m

Purchases of PP&E

(34.4m)(13.5m)(21.2m)(35.0m)(10.6m)(19.6m)(34.5m)(21.8m)(43.6m)(72.1m)(8.9m)(14.7m)(48.4m)(8.5m)(19.1m)(24.0m)

Cash From Investing Activities

(26.8m)(1.5m)(13.1m)(32.8m)(18.3m)(18.6m)(79.4m)5.0m7.3m(45.4m)16.9m38.0m10.1m(7.0m)(2.1m)(10.9m)

Dividends Paid

(2.0m)(677.0k)(1.7m)(2.7m)(1.0m)(2.0m)(3.0m)(1.4m)(2.7m)(4.4m)(2.0m)(4.1m)(6.1m)

Cash From Financing Activities

(1.7m)(35.0m)(36.7m)(37.7m)22.2m28.5m65.9m(97.0m)(73.8m)(92.0m)1.7m7.2m41.0m(31.2m)(28.7m)10.9m

Interest Paid

7.5m1.5m2.9m4.3m1.3m2.8m4.1m1.3m2.5m3.8m1.3m2.6m3.8m1.8m3.9m6.4m

Income Taxes Paid

95.0k50.0k90.0k1.6m3.7m4.3m3.2m5.0m825.0k3.5m1.1m3.5m

Macatawa Bank Ratios

USDY, 2018

EV/EBIT

12.6 x

EV/CFO

8.8 x

Debt/Equity

0.2 x

Financial Leverage

10.4 x
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Macatawa Bank Operating Metrics

Macatawa Bank's Total Loans was reported to be $1.3b in Q2, 2017.
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