* Q2 EPS $0.10 vs loss of $1.82/shr yr ago
* Provisions for bad loans down 91 pct
* Shares up as much as 62 pct after the bell
July 29 Macatawa Bank Corp (MCBC.O) swung to a
quarterly profit, after having posted losses for six straight
quarters, as provision for bad loans fell 11-fold, sending its
shares up 62 percent after the bell.
Second quarter net income available to common shareholders
was $1.7 million, or 10 cents a share, compared with net loss
of $31.3 million, or $1.82 a share, in the year ago period.
Provision for bad loans fell to $1.8 million in the quarter
from $20.6 million in the year ago period. Net interest income
fell 4 percent to $12.8 million.
Shares of the Holland, Michigan-based lender were trading
up 96 cents at $2.50 after the bell. The stock closed at $1.54
in regular session on Nasdaq Thursday.
(Reporting by Sweta Singh in Bangalore; Editing by Maju