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MCBC > SEC Filings for MCBC > Form 8-K on 2-Nov-2012All Recent SEC Filings

Show all filings for MACATAWA BANK CORP

Form 8-K for MACATAWA BANK CORP


2-Nov-2012

Termination of a Material Definitive Agreement


Item 1.02 Termination of a Material Definitive Agreement.

On October 31, 2012, Macatawa Bank Corporation (the "Company") received a letter from the Federal Reserve Bank of Chicago ("FRB") notifying the Company that the FRB has terminated the Written Agreement between the FRB and the Company effective October 26, 2012. The Written Agreement had an assigned effective date of July 23, 2010. In connection with the termination of the Written Agreement, it is expected that the Board of Directors will require the Company to obtain written approval from the FRB before declaring or paying any dividends, increasing holding company level debt (including the issuance of trust preferred securities), or redeeming any capital stock.


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