On January 27, 2020, Macatawa Bank Corporation issued a press release announcing that its Board of Directors has declared a quarterly cash dividend of $0.08 per share, representing a 14% increase from the previous quarterly dividend rate of $0.07 per share. The press release is attached to this Current Report as Exhibit 99.1 and is here incorporated by reference.

The information in this Item 7.01 and the press release filed as Exhibit 99.1 are furnished to Item 7.01 and are not deemed to be \”filed\” for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933 except as expressly set forth by specific reference in such a filing.

The Board of Directors of Macatawa Bank Corporation declared a quarterly cash dividend of $0.08 per share of its common stock to be paid on February 27, 2020, to shareholders of record as of the close of business on February 11, 2020.

MACATAWA BANK CORP Exhibit
EX-99.1 2 ex99_1.htm EXHIBIT 99.1 Exhibit 99.1 For Immediate Release   NASDAQ Stock Market: MCBC Macatawa Bank Corporation Declares Quarterly Dividend HOLLAND,…
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About MACATAWA BANK CORPORATION (NASDAQ:MCBC)

Macatawa Bank Corporation is a bank holding company. The Company owns Macatawa Bank (the Bank). The Company focuses on commercial banking. It also offers automated teller machines (ATMs), Internet banking, telephone banking and debit cards. It offers personal trust services, which include financial planning, investment management services, trust and estate administration, and custodial services. The Company’s retirement plan services provide various types of qualified retirement plans, including profit sharing, 401(k) and pension plans. Through its subsidiary, Macatawa Bank, the Company offers a range of commercial and personal banking services, including checking, savings and certificates of deposit accounts, cash management, safe deposit boxes, trust services and commercial, mortgage and consumer loans through over 30 branch offices, and a lending and operation service facility in Ottawa County, Kent County and northern Allegan County, Michigan.