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Last $10.53 USD
Change Today -0.07 / -0.66%
Volume 24.8K
MFNC On Other Exchanges
As of 8:10 PM 07/2/15 All times are local (Market data is delayed by at least 15 minutes).

mackinac financial corp (MFNC) Snapshot

Previous Close
Day High
Day Low
52 Week High
07/9/14 - $13.70
52 Week Low
11/7/14 - $9.95
Market Cap
Average Volume 10 Days
Shares Outstanding
Dividend Yield

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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, commercial and governmental lease financing, and direct and indirect consumer financing. In addition, the company offers title insurance services. It operates approximately 13 branch offices in the Upper Peninsula of Michigan and 4 branch offices in Michigan’s Lower Peninsula; and 20 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: $345.1K
President, Director, Chief Executive Officer ...
Total Annual Compensation: $340.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $250.0K
Compensation as of Fiscal Year 2014.

mackinac financial corp (MFNC) Key Developments

Mackinac Financial Corporation Declares Cash Dividend, Payable on July 10, 2015

Mackinac Financial Corporation announced that on May 27, 2015, its board of directors declared a cash dividend of $0.075 per common share, payable July 10, 2015 to shareholders of record June 25, 2015. The dividend is unchanged from the prior quarter's dividend.

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, Annual General Meeting, May 27, 2015

Mackinac Financial Corporation, Annual General Meeting, May 27, 2015., at 11:00 US Eastern Standard Time. Location: The Townsend Hotel. Agenda: To elect three Directors, each to hold office for a three-year term; to approve the compensation of named executive officers as disclosed in the accompanying proxy statement; to ratify the appointment of Plante Moran, PLLC as independent auditors for the year ending December 31, 2015; and to transact such other business as may properly come before the annual meeting or any adjournment thereof, all in accordance with the accompanying proxy statement.


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Industry Average

Valuation MFNC Industry Range
Price/Earnings 25.5x
Price/Sales 2.4x
Price/Book 0.9x
Price/Cash Flow 27.3x
TEV/Sales NM Not Meaningful

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