Macatawa Bank Corp. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported total interest income of $13,496,000 compared to $12,709,000 a year ago. Net interest income was $12,292,000 compared to $11,461,000 a year ago. Income before income tax was $5,910,000 compared to $5,099,000 a year ago. Net income was $4,108,000 compared to $3,538,000 a year ago. Basic and diluted earnings per common share were $0.12 compared to $0.10 a year ago. Return on average assets was 0.97% compared to 0.85% a year ago. Return on average equity was 10.08% compared to 9.40% a year ago.

For the full year, the company reported total interest income of $52,499,000 compared to $49,386,000 a year ago. Net interest income was $47,540,000 compared to $44,080,000 a year ago. Income before income tax was $22,182,000 compared to $18,420,000 a year ago. Net income was $15,951,000 compared to $12,794,000 a year ago. Basic and diluted earnings per common share were $0.47 compared to $0.38 a year ago. Return on average assets was 0.95% compared to 0.79% a year ago. Return on average equity was 10.06% compared to 8.68% a year ago. Book value per share as at December 31, 2016 was $4.78 compared to $4.48 a year ago. Tangible book value per share as at December 31, 2016 was $4.78 compared to $4.48 a year ago.

The company reported net charge-offs of $364,000 for the fourth quarter of 2016 compared to $614,000 a year ago.