Item 8.01 Other Events.

On December 31, 2019, Macatawa Bank Corporation ("Macatawa") submitted payment to the trustee to redeem all of the $20.0 million of trust preferred securities of Macatawa Statutory Trust I ("Trust I"), dated July 15, 2003. The trust preferred securities were redeemed, along with $619,000 in common securities issued by Trust I and held by Macatawa, as a result of the concurrent redemption of 100% of the Company's junior subordinated debentures due 2033 and held by Trust I, which underlied the trust preferred securities. The redemption price for the junior subordinated debentures was equal to 100% of the principal amount plus accrued interest up to, but not including, the redemption date. The proceeds from the redemption of the junior subordinated debentures were simultaneously applied to redeem all of the outstanding common securities and the outstanding trust preferred securities at a price of 100% of the aggregate liquidation amount of the trust preferred securities plus accumulated but unpaid distributions up to, but not including, the redemption date. The December 31, 2019 redemption was executed pursuant to the optional redemption provisions of the underlying indenture.

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