---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-013246"
form_type: "8-K"
ticker: null
cik: "0001053584"
company_name: "MACATAWA BANK CORP"
filed_at: "2024-04-25T23:59:59+00:00"
generated_at: "2026-06-03T07:20:22.173614+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Macatawa Bank Q1 net income $9.8M ($0.29 EPS), down from $12.0M; announces merger with Wintrust

## Summary
- Net income $9.8M ($0.29 diluted) in Q1 2024 vs $12.0M ($0.35) in Q1 2023; net interest margin 3.26% vs 3.44%.
- Entered definitive merger agreement with Wintrust Financial Corp on April 15, 2024; $300K merger-related expenses incurred.
- Loan portfolio grew $3.8M (1.1% annualized) in Q1 2024; total loans $1.34B at quarter end.
- Deposits decreased $131.3M in Q1 2024 due to seasonal municipal and business deposit fluctuations.
- Non-performing assets below $1,000; allowance for credit losses at 1.30% of loans; no provision needed.

## SEC filing metadata
- accession: 0001437749-24-013246
- form_type: 8-K
- cik: 0001053584
- company_name: MACATAWA BANK CORP
- filed_at: 2024-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1053584/000143774924013246/0001437749-24-013246-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1053584/000143774924013246/mcbc20240223_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-013246
- JSON: https://secwatch.observer/filing/0001437749-24-013246.json
- Plain text: https://secwatch.observer/filing/0001437749-24-013246.txt

## Key facts
- Earnings Releases
  MACATAWA BANK CORP reported first quarter 2024 results: net income $9.8 million, EPS $0.29 per diluted share.
  - Period: first quarter 2024
  - Net income: $9.8 million
  - EPS: $0.29 per diluted share
  - Result: reported results
  source text: The Company reported net income of $9.8 million, or $0.29 per diluted share, in first quarter 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/1053584/000143774924013246/0001437749-24-013246-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.