OverviewSuggest Edit

Mackinac Financial is a bank holding Company of mBank, which provides a range of loan and deposit products. The banking services include customary retail and commercial banking services, including checking and savings accounts, time deposits, interest bearing transaction accounts, safe deposit facilities, real estate mortgage lending, commercial lending, commercial and governmental lease financing, and direct and indirect consumer financing. The funds for the Bank's operation are also provided by brokered deposits and through borrowings from the Federal Home Loan Bank system, proceeds from the sale of loans and mortgage-backed and other securities, funds from repayment of outstanding loans and earnings from operations.

TypePublic
Founded1937
HQManistique, MI, US
Websitebankmbank.com

Latest Updates

Employees (est.) (Dec 2018)294(+34%)
Job Openings8
Revenue (FY, 2020)$1.1 M(-28%)
Share Price (May 2021)$21.9
Cybersecurity ratingAMore

Key People/Management at Mackinac Financial

Ann Deming

Ann Deming

Vice President, Retail Lending Manager
Ross Anthony

Ross Anthony

Vice President, Regional Mortgage Lending Team Lead
Rick Demers

Rick Demers

Vice President, Commercial Banking Officer
Josh Bal

Josh Bal

Vice President, Mortgage Loan Officer
Scott Ravet

Scott Ravet

Vice President, Commercial Banking Officer
Joe Havican

Joe Havican

Vice President, Commercial Banking Officer
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Mackinac Financial Office Locations

Mackinac Financial has an office in Manistique
Manistique, MI, US (HQ)
130 S Cedar St
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Mackinac Financial Financials and Metrics

Mackinac Financial Revenue

Mackinac Financial's revenue was reported to be $1.13 m in FY, 2020
USD

Revenue (FY, 2020)

1.1m

Net income (FY, 2020)

13.5m

Market capitalization (7-May-2021)

231.3m

Closing stock price (7-May-2021)

21.9

Cash (31-Dec-2020)

218.9m

EV

75.8m
Mackinac Financial's current market capitalization is $231.3 m.
Annual
USDFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Revenue

3.7m4.0m3.9m3.1m3.9m4.2m4.0m1.4m1.6m1.1m

Revenue growth, %

8%21%26%

Sales and marketing expense

351.0k376.0k436.0k449.0k507.0k620.0k711.0k905.0k889.0k912.0k

R&D expense

761.0k991.0k1.1m1.2m1.4m1.6m2.0m2.5m2.7m3.1m
Quarterly
USDQ2, 2011Q3, 2011Q1, 2012Q2, 2012Q3, 2012Q1, 2013Q2, 2013Q3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Revenue

1.3m1.0m606.0k1.3m1.1m758.0k1.3m738.0k691.0k650.0k768.0k624.0k1.4m773.0k627.0k10.0m1.5m776.0k795.0k1.2m614.0k863.0k1.3m406.0k408.0k383.0k403.0k237.0k

Cost of goods sold

1.1m

Gross profit

8.9m

Gross profit Margin, %

89%
USDQ2, 2011

Debt/Equity

0.7 x

Debt/Assets

0.1 x

Financial Leverage

9 x
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Mackinac Financial Cybersecurity Score

Cybersecurity ratingPremium dataset

A

92/100

SecurityScorecard logo

Mackinac Financial Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

40-49

out of 100

CSRHub logo

Mackinac Financial Online and Social Media Presence

Embed Graph

Mackinac Financial News and Updates

SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation of Mackinac Financial Corp. - MFNC

NEW YORK, April 16, 2021 /PRNewswire/ -- Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm rated Top 50 in the 2018 and 2019 ISS Securities Class Action Services Report and headquartered at the Empire State Building in New York City,...

Mackinac Financial Corporation Reports 2020 Fourth Quarter and Annual Results

MANISTIQUE, Mich., Jan. 28, 2021 (GLOBE NEWSWIRE) -- Mackinac Financial Corporation (Nasdaq: MFNC) (the “Corporation”), the bank holding company for mBank, today announced 2020 net income of $13.47 million, or $1.27 per share, compared to 2019 net income of $13.85 million, or $1.29 per share. The …

Mackinac Financial Corporation Reports 2019 Fourth Quarter and Annual Results

MANISTIQUE, Mich., Jan. 29, 2020 (GLOBE NEWSWIRE) -- Mackinac Financial Corporation (Nasdaq: MFNC) (the “Corporation”), the bank holding company for mBank, today announced 2019 net income of $13.85 million, or $1.29 per share, compared to 2018 net income of $8.37 million, or $.94 per share. 

Mackinac Financial Corporation Declares Increased Cash Dividend on Common Stock for Third Quarter 2019

MANISTIQUE, Mich., Sept. 17, 2019 (GLOBE NEWSWIRE) -- Mackinac Financial Corporation (Nasdaq: MFNC), the bank holding company for mBank (the “Bank”), announced the approval of a cash dividend by its Board of Directors on September 17, 2019.  The Board of Directors declared a cash dividend of $.14 …

Mackinac Financial Corporation Reports 2019 Second Quarter Results

MANISTIQUE, Mich., Aug. 01, 2019 (GLOBE NEWSWIRE) -- Mackinac Financial Corporation (Nasdaq: MFNC) (the “Corporation”), the bank holding company for mBank, today announced 2019 second quarter net income of $3.67 million, or $.34 per share, compared to 2018 second quarter net income of $396 thousan…

Mackinac Financial Corporation reports 2019 First Quarter Results

MANISTIQUE, Mich., May 01, 2019 (GLOBE NEWSWIRE) -- Mackinac Financial Corporation (Nasdaq: MFNC) (the “Corporation”), the bank holding company for mBank, today announced 2019 first quarter net income of $3.17 million, or $.30 per share, compared to 2018 first quarter net income of $1.54 million, …
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Mackinac Financial Blogs

Nicolet Bankshares, Inc. To Acquire Mackinac Financial Corporation

GREEN BAY, WI and MANISTIQUE, MI, April 12, 2021– Nicolet Bankshares, Inc. (NASDAQ: NCBS) (“Nicolet”) and Mackinac Financial Corporation (NASDAQ: MFNC) (“Mackinac”) today jointly announced the execution of a definitive merger agreement, pursuant to which Nicolet will acquire Mackinac and its wholly-…

mBank Promotes Kelsey Chellew to Branch Manager

FLORENCE, WISC., March 31, 2021 – mBank is pleased to announce the promotion of Kelsey Chellew from Head Teller to Branch Manager of its Florence, Wisconsin location. Chellew joined mBank in February of 2019 and quickly proved to be a valuable member of the Florence team. Kelsey was promoted to Head…

mBank Promotes Jamie VanBuren to AVP Marketing Officer

MARQUETTE, MICH., JANUARY 13, 2021 – mBank is pleased to announce the promotion of Jamie Van Buren from Marketing Specialist to Assistant Vice President, Marketing Officer. Van Buren,a graduate of Northern Michigan University with a Bachelor of Science in Marketing, joined the mBank team in April of…

mBank Named 2019 SBA Community Lender of the Year in Michigan

MANISTIQUE, Mich., November 13, 2020 – mBank was selected by the U.S. Small Business Administration (SBA) Michigan District Office as the 2019 Community Lender of the Year. This award recognizes the SBA lender that offers services and engages in activities that promote and support community developm…

Mackinac Financial Corporation Reports 2020 Third Quarter Results and COVID-19 Operating Update

Manistique, Michigan – Mackinac Financial Corporation (Nasdaq: MFNC) (“we”, or the “Corporation”) the bank holding company for mBank (“the Bank”) today announced 2020 third quarter net income of $3.32 million, or $.32 per share, compared to 2019 third quarter net income of $3.72 million, or $.35 per…

mBank Welcomes Heidi Reiter Kramsvogel as Branch Manager in St. Germain, WI

St. Germain, WI, October 9 , 2020 – mBank is pleased to welcome Heidi Reiter Kramsvogel as Branch Manager of its office in St. Germain, Wisconsin. Kramsvogel brings with her over 20 years of management experience; which includes working as a corporate trainer and serving at multiple levels of leader…
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Mackinac Financial Frequently Asked Questions

  • When was Mackinac Financial founded?

    Mackinac Financial was founded in 1937.

  • Who are Mackinac Financial key executives?

    Mackinac Financial's key executives are Ann Deming, Ross Anthony and Rick Demers.

  • How many employees does Mackinac Financial have?

    Mackinac Financial has 294 employees.

  • What is Mackinac Financial revenue?

    Latest Mackinac Financial annual revenue is $1.1 m.

  • What is Mackinac Financial revenue per employee?

    Latest Mackinac Financial revenue per employee is $3.9 k.

  • Who are Mackinac Financial competitors?

    Competitors of Mackinac Financial include Cadence, Banco Santander and Royal Bank Of Canada.

  • Where is Mackinac Financial headquarters?

    Mackinac Financial headquarters is located at 130 S Cedar St, Manistique.

  • Where are Mackinac Financial offices?

    Mackinac Financial has an office in Manistique.

  • How many offices does Mackinac Financial have?

    Mackinac Financial has 1 office.