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Section 1: 8-K (MCBC FORM 8-K)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):  October 29, 2018

 

MACATAWA BANK CORPORATION
(Exact name of registrant as specified in its charter)

 

Michigan
(State or other jurisdiction of
Incorporation)
000-25927
(Commission File Number)
38-3391345
(I.R.S. Employer
Identification No.)

 

10753 Macatawa Drive, Holland, Michigan
(Address of principal executive
offices)
49424
(Zip Code)

 

(616) 820-1444
(Registrant’s Telephone Number, Including Area Code)

 

Not Applicable
(Former name or former address, if changed since last year)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
   
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).
   
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).
   
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

  

 

 

Item 7.01 Regulation FD Disclosure

 

On October 29, 2018, Macatawa Bank Corporation issued a press release announcing that its Board of Directors has declared a quarterly cash dividend of $0.07 per share, representing a 16% increase from the previous quarterly dividend rate of $0.06 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 pursuant 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.

 

 

Item 8.01 Other Events

 

The Board of Directors of Macatawa Bank Corporation declared a quarterly cash dividend of $0.07 per share of its common stock to be paid on November 28, 2018, to shareholders of record as of the close of business on November 13, 2018.

 

 

Item 9.01 Financial Statements and Exhibits

 

(d) Exhibits

 

  99.1 Press Release dated October 29, 2018.

 

  

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated:  October 29, 2018 MACATAWA BANK CORPORATION
   
   
  By /s/ Jon W. Swets
    Jon W. Swets
Chief Financial Officer

 

 

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Section 2: EX-99.1 (MCBC EXHIBIT 99.1)

EXHIBIT 99.1

 

 

 
   
For Immediate Release  
NASDAQ Stock Market: MCBC

     

 

Macatawa Bank Corporation Declares Quarterly Dividend

 

HOLLAND, Mich. (October 29, 2018) – Macatawa Bank Corporation (Nasdaq: MCBC) (the "Company" or "Macatawa") today announced that its Board of Directors has declared a quarterly cash dividend of $0.07 per share on its common stock to be paid on November 28, 2018 to shareholders of record on November 13, 2018. This quarter’s dividend payment represents a 16% increase from the previous quarterly dividend rate of $0.06 per share.

 

"We are pleased to provide another increase in the amount of the dividend payment to our shareholders," said Ronald L. Haan, President and CEO of the Company. "Both the continued improvement in Company earnings performance and our strong capital position make this increase possible."

 

 

About Macatawa Bank

Headquartered in Holland, Mich., Macatawa Bank offers a full range of banking, retail and commercial lending, wealth management and ecommerce services to individuals, businesses and governmental entities from a network of 26 full-service branches located throughout communities in Kent, Ottawa and northern Allegan counties. The bank is recognized for its local management team and decision making, along with providing customers excellent service, a rewarding experience and superior financial products. Macatawa Bank has been recognized for the past eight consecutive years as one of “West Michigan’s 101 Best and Brightest Companies to Work For”. For more information, visit www.macatawabank.com.

 

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CAUTIONARY STATEMENT: This press release contains forward-looking statements that are based on management's current beliefs, expectations, assumptions, estimates, plans and intentions. Such statements are based upon current beliefs and expectations and involve substantial risks and uncertainties which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. The declaration and payment of each future dividend to common shareholders will be considered by the Board of Directors in its discretion and will depend on a number of factors, including our financial condition, liquidity, profits and anticipated profitability. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions ("risk factors") that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. Therefore, actual results and outcomes may materially differ from what may be expressed in or implied by such forward-looking statements. Macatawa Bank Corporation does not undertake to update forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking statements.

 

Risk factors include, but are not limited to, the risk factors described in "Item 1A - Risk Factors" of our Annual Report on Form 10-K for the year ended December 31, 2017. These and other factors are representative of the risk factors that may emerge and could cause a difference between an ultimate actual outcome and a preceding forward-looking statement.

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