Mackinac Financial Corporation

Mackinac Financial Corporation is a registered bank holding company formed under the Bank Holding Company Act of 1956 with assets in excess of $889 million and whose common stock is traded on the NASDAQ stock market as "MFNC." The principal subsidiary of the Corporation is mBank. Headquartered in Manistique, MI, mBank has 20 branch locations; 13 in the Upper Peninsula, three in the Northern Lower Peninsula, one in Oakland County, MI and three in Northern Wisconsin. The Company's banking services include commercial lending and treasury management products and services geared toward small to mid-sized businesses, as well as a full array of personal and business deposit products and consumer loans.
Company Growth (employees)
Type
Public
HQ
Birmingham, US
Founded
1937
Size (employees)
160 (est)
Mackinac Financial Corporation was founded in 1937 and is headquartered in Birmingham, US

Mackinac Financial Corporation Office Locations

Mackinac Financial Corporation has an office in Birmingham
Birmingham, US (HQ)
300 260 E Brown St

Mackinac Financial Corporation Data and Metrics

Mackinac Financial Corporation Financial Metrics

Mackinac Financial Corporation's revenue was reported to be $11.4 m in Q1, 2017
USD

Revenue (Q1, 2017)

11.4 m

Gross profit (Q1, 2017)

9.9 m

Gross profit margin (Q1, 2017), %

87%

Net income (Q1, 2017)

1.7 m

EBIT (Q1, 2017)

9 m

Market capitalization (18-Aug-2017)

90.6 m

Cash (31-Mar-2017)

41.2 m
Mackinac Financial Corporation's current market capitalization is $90.6 m.
USDFY, 2013FY, 2014FY, 2015FY, 2016

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 m

Gross profit

21.4 m23.5 m29.1 m37.3 m

Gross profit Margin, %

84%85%87%88%

Sales and marketing expense

15.2 m

R&D expense

1.6 m

Operating expense total

16.9 m

EBIT

19.7 m22.3 m27.9 m32.5 m

EBIT margin, %

77%81%83%77%

Pre tax profit

5.5 m2.8 m7.9 m6.8 m

Income tax expense

2.3 m2.3 m

Net Income

5.9 m1.7 m5.6 m4.5 m
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Revenue

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

Cost of goods sold

1 m1 m1.1 m1.1 m1.2 m1 m1.1 m1.3 m1.4 m

Gross profit

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

Gross profit Margin, %

86%86%88%88%87%89%89%89%87%

Sales and marketing expense

2.6 m2.6 m3.2 m3 m3.3 m3.5 m3.7 m3.8 m3.9 m

R&D expense

288 k288 k355 k359 k327 k345 k333 k440 k461 k

Operating expense total

2.9 m2.9 m3.5 m3.4 m3.6 m3.9 m4 m4.3 m4.4 m

EBIT

5.5 m5.7 m7.2 m6.8 m6.9 m7.3 m7.8 m8.5 m9 m

EBIT margin, %

75%74%78%72%75%82%79%74%79%

Pre tax profit

1.2 m1.3 m2.1 m2.5 m1.5 m1.7 m(151 k)2.7 m2.6 m

Income tax expense

414 k712 k836 k526 k585 k(26 k)922 k889 k

Net Income

806 k2.4 m1.4 m1.7 m
USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

18.2 m21.9 m25 m46.8 m

PP&E

10.2 m12.7 m12.5 m15.9 m

Goodwill

3.8 m3.8 m5.7 m

Total Assets

572.8 m743.8 m739.3 m983.5 m

Accounts Payable

823.5 m

Total Liabilities

904.9 m

Retained Earnings

11.4 m11.8 m15.2 m17.2 m

Total Equity

65.2 m74 m76.6 m78.6 m

Financial Leverage

8.8 x10.1 x9.7 x12.5 x
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Cash

20.7 m22.4 m24.2 m16.7 m38.6 m18 m40.2 m48.6 m41.2 m

PP&E

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

Goodwill

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

Total Assets

595.9 m613.9 m728.8 m735.3 m755 m732.9 m892.3 m959.1 m976.6 m

Accounts Payable

484 m491.2 m597.9 m588.8 m622.3 m593 m738.4 m807.2 m821.8 m

Retained Earnings

12.3 m12.9 m12.7 m13.9 m14.2 m15.7 m15 m16.1 m18.2 m

Total Equity

66.5 m67.1 m75 m75.7 m76.1 m77.4 m77.1 m78.3 m80 m

Financial Leverage

9 x9.1 x9.7 x9.7 x9.9 x9.5 x11.6 x12.3 x12.2 x
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

5.9 m1.7 m5.6 m4.5 m

Depreciation and Amortization

1.7 m1.5 m1.7 m1.9 m

Cash From Operating Activities

9.3 m8.4 m13.1 m377 k

Capital Expenditures

(1.5 m)(1.4 m)(1.3 m)(2.1 m)

Cash From Investing Activities

(39 m)(55 m)(6 m)(42.3 m)

Cash From Financing Activities

20.9 m50.3 m(4 m)63.7 m

Interest Paid

4.2 m4.1 m4.4 m4.8 m

Income Taxes Paid

149 k100 k150 k1.1 m

Free Cash Flow

10.8 m9.9 m14.4 m(1.8 m)
USDQ2, 2014Q3, 2014Q1, 2015Q1, 2017

Net Income

806 k2.4 m1.4 m1.7 m

Depreciation and Amortization

1.1 m414 k572 k

Cash From Operating Activities

5.4 m5.6 m2.5 m

Capital Expenditures

(1.2 m)(324 k)(536 k)

Cash From Investing Activities

(39.7 m)6.5 m(1.3 m)

Cash From Financing Activities

38.5 m(9.8 m)(6.7 m)

Interest Paid

3.1 m1.1 m1.4 m

Income Taxes Paid

75 k25 k50 k

Free Cash Flow

4.3 m5.3 m2 m
USDY, 2017

Revenue/Employee

71.1 k

Financial Leverage

12.2 x

Mackinac Financial Corporation Market Value History

Traffic Overview of Mackinac Financial Corporation

Mackinac Financial Corporation Company Life and Culture

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