Company Information

  

Address: 130 SOUTH CEDAR STREET
PO BOX 369 
City: MANISTIQUE 
State: MI 
Zip Code: 49854 
Telephone: 906-341-8401 

Description of Business

Primary SIC Code: 6022
(As filed with the SEC)  

Mackinac Financial Corporation (the "Corporation") was incorporated under the laws of the state of Michigan on December 16, 1974. The Corporation changed its name from "First Manistique Corporation" to "North Country Financial Corporation" on April 14, 1998. On December 16, 2004, the Corporation changed its name from North Country Financial Corporation to Mackinac Financial Corporation. The Corporation is headquartered and located in Manistique, Michigan. The mailing address of the Corporation is 130 South Cedar Street, Manistique, Michigan 49854. In December of 2004, the Corporation was recapitalized with the net proceeds, approximately $26.2 million, from the issuance of $30 million of common stock in a private placement. Commensurate with this recapitalization, the Corporation changed its name from North Country Financial Corporation to Mackinac Financial Corporation, and its subsidiary bank adopted the "mBank" identity early in 2005.  ... More ...  

Per Share Overview

Date 12-mos Rolling EPS Dividend P/E Ratio
06/20171.100.12012.72
03/20170.820.12016.73
12/20160.720.10018.71
09/20160.710.10016.18
06/20160.580.10018.98
03/20160.860.10011.92
12/20150.890.10012.91
09/20150.520.10019.42

Key Financial Ratios and Statistics

FYE: 12/31

Profitability 2016 Leverage 2016
Net Inc/Comm Equity0.07Total Liab/Total Assets0.92
Net Inc/Total Assets0.00Total Liab/Inv Cap0.99
Net Inc/Inv Cap0.00Total Liab/Comm Equity14.69
Pretax Inc/Net Sales0.16Interest Coverage Ratio5.33
Net Inc/Net Sales0.11Curr Debt/Equity0.94
Cash Flow/Net Sales0.01LTD/EquityNA
SG&A/NetSales0.71Total Debt/Equity0.94
Asset Utilization   Liquidity  
Net Receivables TurnoverNAQuick RatioNA
Inventory TurnoverNACurrent RatioNA
Inventory Day SalesNANet Rec/Curr AssetsNA
Net Sales/Work CapNAInv/Curr AssetsNA
Net Sales/PP&E2.65  

Income Statement (Millions)

  6/30/2017 3/31/2017 12/31/2016 9/30/2016
Total Revenues(Net Sales) 11.66 11.37 11.73 11.48
Cost of Goods Sold 1.05 0.96 0.91 0.87
Selling & Admin Exps 7.52 7.18 7.51 7.29
Operating Income NA NA NA NA
Interest Exp 0.49 0.47 0.56 0.43
Pretax Income 2.55 2.62 2.50 2.70
Other Income NA NA NA NA
Net Income Bef Extraordinary ... NA NA NA NA
Net Income 1.68 1.73 1.70 1.78

Balance Sheet (Millions)

Assets 6/30/2017 3/31/2017 12/31/2016 9/30/2016
Cash & Short Term Investments 188.75 141.22 149.99 154.47
Receivables - Total NA NA NA NA
Inventories - Total NA NA NA NA
Total Current Assets NA NA NA NA
Net Property, Plant & Equipment 16.65 15.97 15.89 16.03
Total Assets 1,027.45 976.64 983.52 959.12
Liabilities        
Accounts Payable NA NA NA NA
Debt in Current Liabilities 92.02 69.28 73.58 67.73
Total Current Liabilities NA NA NA NA
Long-Term Debt NA NA NA NA
Total Liabilities 946.14 896.63 904.91 880.84
Stockholder's Equity        
Minority Interest NA NA NA NA
Preferred Stock NA NA NA 0.00
Common Stock 61.78 61.68 61.58 61.43
Retained Earnings 19.10 18.18 17.21 16.12
Treasury Stock NA NA NA NA
Total Stockholders' Equity 81.31 80.01 78.61 78.29
Total Liabilities and Stockholders' Equity 1,027.45 976.64 983.52 959.12

Cash Flow Summary (Millions)

Categories 6/30/2017 3/31/2017 12/31/2016 9/30/2016
Net Cash Provided by Operating Activities 4.08 2.49 -17.23 13.40
Net Cash Provided by Investing Activities -4.68 -1.33 -6.21 -11.13
Net Cash Provided by Financing Activities 48.42 -6.75 21.57 6.11

Annual Summary Data (Millions)

Year Sales Net Income EPS
12/201228.477.091.46
12/201329.465.941.00
12/201430.781.700.30
12/201537.405.600.89
12/201642.144.480.72
Growth Rates10.30-10.82-16.20

Stock Ownership

Type Date(Q,M) No. Owners Shares Held (000s) % Own
Institutional09/30/17251,77428.19




Report Date : 10/16/2017

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