Last $11.90 USD
Change Today -0.10 / -0.83%
Volume 3.9K
MFNC On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 8:10 PM 09/15/14 All times are local (Market data is delayed by at least 15 minutes).

mackinac financial corp (MFNC) Snapshot

Open
$12.00
Previous Close
$12.00
Day High
$12.00
Day Low
$11.90
52 Week High
03/27/14 - $15.06
52 Week Low
10/10/13 - $8.38
Market Cap
65.8M
Average Volume 10 Days
3.7K
EPS TTM
$1.00
Shares Outstanding
5.5M
EX-Date
09/22/14
P/E TM
11.9x
Dividend
$0.20
Dividend Yield
1.65%
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.

133 Employees
Last Reported Date: 07/10/14
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 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.

 

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Industry Analysis

MFNC

Industry Average

Valuation MFNC Industry Range
Price/Earnings 13.0x
Price/Sales 2.8x
Price/Book 1.0x
Price/Cash Flow 12.4x
TEV/Sales 0.1x
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