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.

Type
Public
HQ
Birmingham, US
Founded
1937
Size (employees)
160 (est)
Mackinac Financial was founded in 1937 and is headquartered in Birmingham, US
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Mackinac Financial Office Locations

Mackinac Financial has offices in Stephenson, Newberry, Marquette, Manistique and in 3 other locations
Birmingham, US (HQ)
300 260 E Brown St
Escanaba, US
2224 N Lincoln Rd
Ishpeming, US
170 Daisy St
Ishpeming, US
900 US Highway 41 W,
Ishpeming, US
100 S Main St
Manistique, US
130 S Cedar St
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Mackinac Financial Financials and Metrics

Mackinac Financial Revenue

Mackinac Financial's revenue was reported to be $42.14 m in FY, 2016 which is a 25.7% increase from the previous period.
USD

Net income (FY, 2017)

5.5 m

EBIT (FY, 2017)

37.3 m

Market capitalization (18-Jul-2018)

182.4 m

Closing share price (18-Jul-2018)

17

Cash (31-Dec-2017)

37.4 m
Mackinac Financial's current market capitalization is $182.4 m.
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

25.5 m27.7 m33.5 m42.1 m

Revenue growth, %

8%21%26%

Cost of goods sold

4.1 m4.1 m4.4 m4.9 m6.4 m

Gross profit

21.4 m23.5 m29.1 m37.3 m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Revenue

7.1 m7.3 m7.3 m7.7 m9.3 m9.4 m9.2 m8.9 m10 m11.5 m11.4 m11.7 m

Cost of goods sold

1 m1 m1 m1 m1.1 m1.1 m1.2 m1 m1.1 m1.3 m1.4 m1.5 m1.7 m

Gross profit

6.1 m6.3 m6.3 m6.7 m8.1 m8.4 m8 m7.9 m8.9 m10.2 m9.9 m10.1 m

Gross profit Margin, %

85%86%86%86%88%88%87%89%89%89%87%87%
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

18.2 m21.9 m25 m46.8 m37.4 m

Accounts Receivable

Inventories

PP&E

10.2 m12.7 m12.5 m15.9 m16.3 m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Cash

22.8 m24.8 m20.7 m22.4 m24.2 m16.7 m38.6 m18 m40.2 m48.6 m41.2 m89 m57.7 m

PP&E

10.5 m9.8 m9.8 m9.8 m12.6 m12.6 m12.7 m12.5 m14.7 m16 m16 m16.7 m16.6 m

Goodwill

3.8 m3.8 m3.8 m3.8 m5.2 m5.7 m5.7 m5.7 m5.7 m

Total Assets

567.9 m583.6 m595.9 m613.9 m728.8 m735.3 m755 m732.9 m892.3 m959.1 m976.6 m1 b1 b
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

5.9 m1.7 m5.6 m4.5 m5.5 m

Depreciation and Amortization

1.7 m1.5 m1.7 m1.9 m2.4 m

Inventories

Accounts Payable

Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017

Net Income

896 k660 k806 k2.4 m1.4 m3 m4 m1.1 m1 m2.8 m1.7 m3.4 m

Depreciation and Amortization

1.1 m414 k841 k1.3 m395 k825 k1.3 m572 k1.2 m

Cash From Operating Activities

5.4 m5.6 m7.8 m10.3 m1.3 m14.8 m17.6 m2.5 m6.6 m

Cash From Investing Activities

(39.7 m)6.5 m(8.2 m)(6.5 m)(923 k)(35.6 m)(36.1 m)(1.3 m)(6 m)
USDY, 2017

Financial Leverage

12.1 x
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Mackinac Financial Company Life and Culture

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