Event-Driven Stocks

MACATAWA BANK CORP

Financials · State Commercial Banks · MI · SEC filings ↗ · Compare ⊕

Signs● 2 good● 1 warningdetails ↓

Financials

SEC XBRL · annual
 FY23FY22FY21FY20FY19FY18
Revenue——————
Operating income——————
Net income$12.0M$6.0M$7.8M$6.4M$7.6M$5.8M
Total assets$2.75B$2.91B$2.93B$2.64B$2.07B$1.98B
Total liabilities$2.46B$2.66B$2.67B$2.40B$1.85B$1.78B
Equity$287.1M$247.0M$254.0M$239.8M$217.5M$190.9M
EPS (diluted)$0.35$0.18$0.23$0.19$0.22$0.17
Shares out.34.3M34.3M34.2M34.1M34.0M34.0M

Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.

Key ratios

from filings · FY2023
Operating margin
—
Net margin
—
Return on equity
4.2%
Return on assets
0.4%
Return on capital (ROCE)
—
Liabilities / assets
89.6%
Debt / equity
8.57×
Book value / share
$8.37
Revenue growth (YoY)
—
Net income growth (YoY)
100.1%

Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.

Financial health

forensic scores · FY2023
Accruals / assets
−1.2%clean
Piotroski F-Score
5/6mixed

Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.

Quality score

EDS Score
77
/ 100
Profitability 100Growth 100Catalyst 33Earnings quality 100Financial strength 50

Our own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.

Signs

● 1 warning● 2 good
  • High leverage (liabilities > 70% of assets)
  • Positive operating cash flow
  • Clean earnings (low accruals)

Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.

5%+ owners

SEC Schedule 13D / 13G · last 3 yrs

Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.

Material events

SEC Form 8-K · most recent

Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.

Recent SEC filings

All filings ↗

Event-driven situations (1)

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