Smith resigns as chair of Macatatwa

February 11, 2009
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HOLLAND — Macatawa Bank Corp. has announced the resignation of Benjamin A Smith III as Chairman and CEO, along with some other leadership changes. Smith will continue to serve his current term on the holding company and bank boards of directors and will remain employed in an advisory role to support the management team, the company indicated.

Stepping into Smith’s place as chairman is Robert E. DenHerder, presently director of the holding company and Macatawa Bank. Macatawa Bank President Phillip J. Koning and Executive Vice President Ronald L. Haan will share the newly created post of Office of the Chief Executive and be responsible for providing strategic direction, ongoing leadership and day-to-day operational oversight of Macatawa. Haan will also serve as Secretary-Treasurer of the corporation. 

Smith launched Macatawa Bank in November 1997 with the goal of providing superior financial products and excellent customer service to residents, businesses and organizations in West Michigan. From a single branch and 10 employees, Macatawa Bank has grown to 26 locations, more than 400 employees and more than $2.10 billion in assets.

In 2006, Smith duplicated his successful community banking model in Clearwater, Fla., where he established Florida Shores Bank, a full-service commercial bank that has grown to four locations, with two more expected to open in the first half of this year. 

“As a significant shareholder of Macatawa, I am – and will – remain its single biggest supporter,” Smith stated. “In recent years, I have divided my time between the operations in West Michigan and south Florida.”

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