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Last $11.35 USD
Change Today +0.1499 / 1.34%
Volume 3.1K
MFNC On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 8:10 PM 05/5/15 All times are local (Market data is delayed by at least 15 minutes).

mackinac financial corp (MFNC) Snapshot

Open
$11.27
Previous Close
$11.20
Day High
$11.35
Day Low
$11.27
52 Week High
07/9/14 - $13.70
52 Week Low
11/7/14 - $9.95
Market Cap
71.0M
Average Volume 10 Days
5.0K
EPS TTM
$0.72
Shares Outstanding
6.3M
EX-Date
04/1/15
P/E TM
15.8x
Dividend
$0.30
Dividend Yield
2.20%
Current Stock Chart for MACKINAC FINANCIAL CORP (MFNC)

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mackinac financial corp (MFNC) Details

Mackinac Financial Corporation operates as the holding company for mBank that provides commercial and retail banking products and services. The company offers interest bearing and non-interest bearing deposit products, including commercial and retail checking accounts, negotiable order of withdrawal accounts, money market accounts, individual retirement accounts, regular interest-bearing statement savings accounts, and certificates of deposit. It also provides consumer loan products, such as installment, mortgages, and home equity loans, as well as residential mortgage loans, and commercial and governmental lease financing. In addition, the company offers title insurance services. It operates approximately 7 branch offices in the Upper Peninsula of Michigan and 4 branch offices in Michigan’s Lower Peninsula; and 13 automated teller machines. The company was formerly known as North Country Financial Corporation and changed its name to Mackinac Financial Corporation in December 2004. Mackinac Financial Corporation was incorporated in 1974 and is headquartered in Manistique, Michigan.

160 Employees
Last Reported Date: 03/31/15
Founded in 1974

mackinac financial corp (MFNC) Top Compensated Officers

Chairman, Chief Executive Officer and Chairma...
Total Annual Compensation: $325.0K
President, Director, Chief Executive Officer ...
Total Annual Compensation: $320.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $230.0K
Compensation as of Fiscal Year 2013.

mackinac financial corp (MFNC) Key Developments

Mackinac Financial Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Mackinac Financial Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the first quarter 2015, the company reported total interest income of $8,633,000 against $6,602,000 a year ago. Net interest income was $7,520,000 against $5,593,000 a year ago. Net interest income after provision for loan losses was $7,215,000 against $5,410,000 a year ago. Income before provision for income taxes was $2,083,000 against $994,000 a year ago. Net income available to common shareholders was $1,371,000 or $0.22 per diluted share against $660,000 or $0.12 per diluted share a year ago. The book value per share equated to $11.99 as on March 31, 2015 compared to $11.89 per share as on March 31, 2014. Return on average assets was 0.75% against 0.46% a year ago. Return on average equity was 7.54% against 4.09% a year ago.

Mackinac Financial Corporation Declares Quarterly Cash Dividend on Common Stock, Payable on April 15, 2015

Mackinac Financial Corporation announced that it will pay a quarterly cash dividend on its common stock of $0.075 per share on April 15 to shareholders of record on April 6.

Mackinac Financial Corporation Reports Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended Dec. 31, 2014

Mackinac Financial Corporation reported unaudited consolidated financial results for the fourth quarter and full year ended Dec. 31, 2014. For the quarter, net interest income was $6,389,000 against $5,626,000 for the same period of last year. Loss before taxes was $726,000 against income of $1,057,000 for the same period of last year. Net income available to common shareholders was $652,000 against $2,910,000 for the same period of last year. Net income per diluted share was $0.13 against $0.52 for the same period of last year. For the year, total interest income was $27,669,000 against $25,523,000 for the same period of last year. Net interest income was $23,527,000 against $21,399,000 for the same period of last year. Income before income taxes was $2,829,000 against $5,534,000 for the same period of last year. Net income available to common shareholders was $1,700,000 against $5,629,000 for the same period of last year. Net income per diluted share was $0.30 against $1.00 for the same period of last year. Return on average assets was 0.28% against 1.01% for the same period of last year. Return on average common equity was 2.57% against 9.07% for the same period of last year. Return on average equity was 2.57% against 8.26% for the same period of last year. Book value per common share was $11.81 against $11.77 for the same period of last year. Tangible book value per share was $11.01 against $1.77 for the same period of last year. In 2013, a deferred tax benefit of $2.250 million was recorded which equated to $0.40 per share. In December 2014, the company completed the acquisition of Peninsula Financial Corporation. In connection with this acquisition and other strategic initiatives, the Corporation had nonrecurring transaction related expenses totaling $2.475 million. These "one-time" costs reduced the reported net income in 2014 by $1.810 million, or $0.32 per share, on an after tax basis. The adjusted net income for 2014 (not inclusive of the nonrecurring transaction related expenses) would equate to $3.510 million, or $0.62 per share, compared to adjusted net income of $3.379 million in 2013 (not including the deferred tax benefit), or $0.61 per share.

 

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Industry Analysis

MFNC

Industry Average

Valuation MFNC Industry Range
Price/Earnings 27.0x
Price/Sales 2.6x
Price/Book 0.9x
Price/Cash Flow 28.9x
TEV/Sales NM Not Meaningful
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