Last $11.30 USD
Change Today +0.0005 / 0.00%
Volume 358.0
MFNC On Other Exchanges
Symbol
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NASDAQ CM
As of 8:10 PM 09/30/14 All times are local (Market data is delayed by at least 15 minutes).

mackinac financial corp (MFNC) Key Developments

Mackinac Financial Corporation Declares Quarterly Dividend on Common Stock, Payable on October 6, 2014

Mackinac Financial Corporation announced that its Board of Directors declared a cash dividend of $0.05 per common share, payable on October 6, 2014 to shareholders of record September 24, 2014. The dividend is unchanged from the prior quarter's dividend.

Mackinac Financial Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Mackinac Financial Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net income available to common shareholders was $806,000 or $0.15 diluted earnings per share against net income available to common shareholders of $1,197,000 or $0.22 diluted earnings per share a year ago. Net interest income was $5,659,000 and total interest income was $6,663,000 against net interest income of $5,269,000 and total interest income of $6,321,000 a year ago. Income before provision for income taxes was $1,220,000 against $1,897,000 a year ago. Book value of common share was $12.03 per share compared to $11.26 per share a year ago. Return on average assets was 0.51% and return on average common equity was 4.51% against return on average assets of 0.69% and return on average common equity of 6.13% a year ago. For the six months, the company reported net income available to common shareholders was $1,466,000 or $0.26 diluted earnings per share against net income available to common shareholders of $1,873,000 or $0.34 diluted earnings per share a year ago. Net interest income was $11,252,000 and total interest income was $13,265,000 against net interest income of $10,425,000 and total interest income of $12,515,000 a year ago. Income before provision for income taxes was $2,214,000 against $3,125,000 a year ago.

Mackinac Financial Corporation Declares Cash Dividend, Payable on July 18, 2014

Mackinac Financial Corporation announced that its Board of Directors declared a cash dividend of $0.05 per common share, payable July 18, 2014 to shareholders of record July 7, 2014. The dividend is unchanged from the prior quarter's dividend.

Mackinac Financial Corporation Proposes to Amend and Restate Articles of Incorporation

Mackinac Financial Corporation proposed to amend and restate Articles of Incorporation and proposes to approve Article X, which relates to changes made to the process of amending the Amended and Restated Articles of Incorporation. The proposal consider at the AGM to be held on May 28, 2014.

Mackinac Financial Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

Mackinac Financial Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported net income available to common shareholders was $660,000 or $0.12 diluted earnings per share against net income available to common shareholders of $676,000 or $0.12 diluted earnings per share a year ago. Net interest income was $5,593,000 and total interest income was $6,602,000 against net interest income of $5,156,000 and total interest income was $6,194,000 a year ago. Income before provision for income taxes was $994,000 against $1,228,000 a year ago. Book value of common shareholders' equity was $11.89 per share at March 31, 2014 compared to $11.16 per share at March 31, 2013. Return on average assets was 0.46% and return on average common equity was 4.09% against return on average assets of 0.51% and return on average equity of 4.47% a year ago.

 

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MFNC

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Valuation MFNC Industry Range
Price/Earnings 12.3x
Price/Sales 2.6x
Price/Book 0.9x
Price/Cash Flow 11.7x
TEV/Sales NM Not Meaningful
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