Last $12.50 USD
Change Today 0.00 / 0.00%
Volume 0.0
MFNC On Other Exchanges
As of 8:10 PM 07/24/14 All times are local (Market data is delayed by at least 15 minutes).

mackinac financial corp (MFNC) Snapshot

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52 Week High
03/27/14 - $15.06
52 Week Low
10/10/13 - $8.38
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, 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 founded 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 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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Industry Average

Valuation MFNC Industry Range
Price/Earnings 12.6x
Price/Sales 2.9x
Price/Book 1.1x
Price/Cash Flow 11.9x
TEV/Sales 0.2x

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