Macatawa Bank Corporation · Holland, MI United States ·(NASDAQ (GS): MCBC)
Company Description
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This link will open in a new window Macatawa Bank Corporation is the holding company for Macatawa Bank. Since its 1997 founding, the company has grown into a network of about 25 branches serving western Michigan's Allegan, Kent, and Ottawa counties. The bank provides standard services, including checking and savings accounts, CDs, safe deposit boxes, and ATM cards. It also offers investment services and products through an agreement with a third-party provider. With deposit funds, the bank primarily originates commercial mortgages and business loans, which account for approximately 50% and 25% of its loan book, respectively. Macatawa Bank also originates residential mortgages and consumer loans. To read the full description, subscribe now.
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Key Macatawa Bank Corporation Financials
| Company Type | Public - NASDAQ (GS): MCBC Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $76.3 |
| 2008 Employees | 458 |
Macatawa Bank Corporation Executives
21 executives listed for Macatawa Bank Corporation's Holland, MI location.
| Title | Name & Bio | Contact |
| Chairman | Robert DenHerder | Network |
| Interim President, Interim CEO, Secretary, and Treasurer; Interim Chairman, President, and CEO, Macatawa Bank | Ronald Haan | Network |
| SVP and CFO, Macatawa Bank | Jon Swets | Network |
Competition
Competitive Landscape for Macatawa Bank Corporation
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Macatawa Bank Corporation Competitors
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