Macatawa Bank Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported total interest income of USD 11.961 million compared to USD 13.009 million a year ago. Net interest income was USD 10.212 million compared to USD 10.968 million a year ago. Income before income taxes was USD 3.192 million compared to USD 2.376 million a year ago. Net income was USD 2.234 million compared to USD 21.234 million a year ago. Net loss available to common shareholders was USD 15.340 million compared to net income available to common shareholders of USD 21.234 million a year ago. Diluted loss per share were USD 0.5 compared to diluted earnings per share of USD 0.78 a year ago. Return on average assets was 0.58% compared to 5.75% negative a year ago. Return on average equity was 6.54% compared to 76.30% a year ago. Book value per common share was USD 3.92 compared to USD 3.59 a year ago. Tangible book value per common share was USD 3.92 compared to USD 3.59 a year ago.

For the full year, the company reported total interest income of USD 48.620 million compared to USD 57.276 million a year ago. Net interest income was USD 41.283 million compared to USD 47.462 million a year ago. Income before income taxes was USD 13.819 million compared to USD 16.907 million a year ago. Net income was USD 9.549 million compared to USD 35.490 million a year ago. Net loss available to common shareholders was USD 8.026 million compared to net income available to common shareholders of USD 35.490 million a year ago. Diluted loss per share were USD 0.29 compared to diluted earnings per share of USD 1.31 a year ago. Return on average assets was 0.63% compared to 2.37% negative a year ago. Return on average equity was 7.11% compared to 34.39% a year ago. Book value per common share was USD 3.92 compared to USD 3.59 a year ago. Tangible book value per common share was USD 3.92 compared to USD 3.59 a year ago.