MFNC Mackinac Financial Corp.
Mackinac Financial Corp. is a bank holding company, which engages in the provision of commercial banking services through its subsidiary, mBank. It offers loan and deposit products. Its 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 company was founded on December 16, 1974 and is headquartered in Manistique, MI.
Company profile
Ticker
MFNC
Exchange
Website
CEO
Paul Davison Tobias
Employees
Incorporated in
Location
Fiscal year end
Sector
Industry (SEC)
Former names
First Manistique Corp, North Country Financial Corp
SEC CIK
Corporate docs
IRS number
382062816
MFNC stock data
()
Investment data
Securities sold
Number of investors
Calendar
11 May 20
14 Jul 20
31 Dec 20
News
Company financial data Financial data
| Quarter (USD) | Mar 20 | Dec 19 | Sep 19 | Jun 19 | |
|---|---|---|---|---|---|
| Revenue | 403K | 389K | 383K | 408K | |
| Net income | 3.05M | 3.3M | 3.72M | 3.67M | |
| Diluted EPS | 0.28 | 0.31 | 0.35 | 0.34 | |
| Net profit margin | 757% | 847% | 971% | 899% | |
| Net change in cash | 47.25M | -33.1M | 22.23M | 3.73M | |
| Cash on hand | 97.07M | 49.83M | 82.92M | 60.69M |
| Annual (USD) | Dec 19 | Dec 18 | Dec 17 | Dec 16 | |
|---|---|---|---|---|---|
| Revenue | 1.59M | 1.44M | 1.06M | 37.98M | |
| Net income | 13.85M | 8.37M | 5.48M | 4.48M | |
| Diluted EPS | 1.29 | 0.94 | 0.87 | 0.72 | |
| Net profit margin | 873% | 581% | 519% | 11.80% | |
| Net change in cash | -14.33M | 26.73M | -9.33M | 21.75M | |
| Cash on hand | 49.83M | 64.16M | 37.43M | 46.76M |
Financial data from company earnings reports
Recent insider trades
| Date | Owner | Security | Transaction | Code | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|
| 24 Mar 20 | Steinhardt David Russ | Common Stock | Buy | Aquire P | No | 8.7934 | 346 | 3.04K | 15,994 |
| 24 Mar 20 | Steinhardt David Russ | Common Stock | Buy | Aquire P | No | 7.5865 | 2,614 | 19.83K | 15,648 |
| 23 Mar 20 | Steinhardt David Russ | Common Stock | Buy | Aquire P | No | 7.3634 | 1,034 | 7.61K | 13,034 |
| 19 Mar 20 | Steinhardt David Russ | Common Stock | Buy | Aquire P | No | 9.9995 | 10,000 | 100K | 12,000 |
| 12 Mar 20 | Mahaney Robert Edward II | Common Stock | Buy | Aquire P | No | 11.5 | 2,562 | 29.46K | 28,982 |
| 13 Feb 20 | Paul Davison Tobias | Common Stock | Grant | Aquire A | No | 0 | 16,000 | 0 | 95,367 |
| 13 Feb 20 | Kelly W George | Common Stock | Grant | Aquire A | No | 0 | 20,000 | 0 | 92,500 |
Institutional ownership Q1 2020
13F holders |
Current |
|---|---|
| Total holders | 0 |
| Opened positions | 0 |
| Closed positions | 0 |
| Increased positions | 0 |
| Reduced positions | 0 |
13F shares |
Current |
|---|---|
| Total value | 0 |
| Total shares | 0 |
| Total puts | 0 |
| Total calls | 0 |
| Total put/call ratio | – |
Largest owners |
Shares | Value |
|---|
Financial report summary
?Risks
- The recent global COVID-19 outbreak could harm the Corporation’s business and results of operations.
Management Discussion
- The Corporation recorded first quarter 2020 net income of $3.051 million, or $.28 per share, compared to net income of $3.167 million or $.30 per share for the first quarter of 2019.
- Net interest income is the Corporation’s primary source of core earnings. Net interest income represents the difference between the average yield earned on interest earning assets and the average rate paid on interest bearing obligations. Net interest income is impacted by economic and competitive factors that influence rates, loan demand, and the availability of funding.
- Net interest income and net interest margin on a fully taxable equivalent basis amounted to $13.481 million, 4.63% of average earning assets, respectively in the first three months of 2020, compared to $13.304 million, 4.57% of average earning assets, respectively in the first three months of 2019.
Content analysis
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H.S. sophomore Bad
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New words:
began, behavior, beverage, broader, China, clear, Coporation, Corportion, declared, duration, emergency, entitled, experienced, experiencing, food, footprint, global, Health, heightened, heightening, incuded, knowable, lead, light, modification, nationwide, ongoing, onset, outbreak, pandemic, precautionary, relief, response, small, stem, substantially, ultimate, unavoidably, uncertainty, upcoming, urging, World
Financial reports
10-Q
2020 Q1
Quarterly report
11 May 20
10-K
2019 FY
Annual report
12 Mar 20
10-Q
2019 Q3
Quarterly report
8 Nov 19
10-Q
2019 Q2
Quarterly report
9 Aug 19
10-Q
2019 Q1
Quarterly report
10 May 19
10-K
2018 FY
Annual report
18 Mar 19
10-Q
2018 Q3
Quarterly report
14 Nov 18
10-Q
2018 Q2
Quarterly report
14 Aug 18
10-Q
2018 Q1
Quarterly report
14 May 18
10-K
2017 FY
Annual report
15 Mar 18
Current reports
8-K
Mackinac Financial Corporation Declares Cash Dividend on Common Stock
22 Jun 20
8-K
Submission of Matters to a Vote of Security Holders
27 May 20
8-K
REPORTS 2020 FIRST quarter Results AND PRovides COVID-19 UPDATE
1 May 20
8-K
Mackinac Financial Corporation Declares Cash Dividend on Common Stock
31 Mar 20
8-K
REPORTS 2019 Fourth quarter and Annual Results
29 Jan 20
8-K
Mackinac Financial Corporation Declares Cash Dividend on Common Stock
17 Dec 19
8-K
Reports 2019 Third Quarter Results
31 Oct 19
8-K
Mackinac Financial Corporation Declares Increased Cash Dividend on Common Stock for Third Quarter 2019
17 Sep 19
8-K
Mackinac Financial Corporation Announces Stock Buyback Program
29 Aug 19
8-K
Reports 2019 Second Quarter Results
1 Aug 19
Registration and prospectus
424B5
Prospectus supplement for primary offering
14 Jun 18
424B5
Prospectus supplement for primary offering
12 Jun 18
S-3
Shelf registration
11 May 18
425
Business combination disclosure
3 May 18
424B3
Prospectus supplement
5 Apr 18
S-4/A
Registration of securities issued in business combination transactions (amended)
4 Apr 18
S-4/A
Registration of securities issued in business combination transactions (amended)
4 Apr 18
425
Business combination disclosure
29 Mar 18
S-4
Registration of securities issued in business combination transactions
16 Mar 18
425
Business combination disclosure
13 Feb 18
Proxies
DEF 14A
Definitive proxy
22 Apr 20
DEF 14A
Definitive proxy
30 Apr 19
DEF 14A
Definitive proxy
25 Apr 18
DEF 14A
Definitive proxy
25 Apr 17
DEF 14A
Definitive proxy
19 Apr 16
DEF 14A
Definitive proxy
24 Apr 15
DEF 14A
Definitive proxy
30 Apr 14
PRER14A
Preliminary revised proxy
18 Apr 14
PRE 14A
Preliminary proxy
11 Apr 14
DEF 14A
Definitive proxy
30 Apr 13
Other
EFFECT
Notice of effectiveness
24 May 18
CORRESP
Correspondence with SEC
21 May 18
UPLOAD
Letter from SEC
16 May 18
CORRESP
Correspondence with SEC
4 Apr 18
EFFECT
Notice of effectiveness
4 Apr 18
EFFECT
Notice of effectiveness
22 Oct 14
UPLOAD
Letter from SEC
23 Jul 14
CORRESP
Correspondence with SEC
10 Jul 14
UPLOAD
Letter from SEC
30 Jun 14
UPLOAD
Letter from SEC
21 Apr 14
Ownership
4
MACKINAC FINANCIAL / David Russ Steinhardt ownership change
25 Mar 20
4
MACKINAC FINANCIAL / David Russ Steinhardt ownership change
23 Mar 20
4
MACKINAC FINANCIAL / Robert Edward Mahaney II ownership change
16 Mar 20
4
MACKINAC FINANCIAL / Paul Davison Tobias ownership change
18 Feb 20
4
MACKINAC FINANCIAL / KELLY W GEORGE ownership change
18 Feb 20
4
MACKINAC FINANCIAL / Jesse A Deering ownership change
18 Feb 20
4
MACKINAC FINANCIAL / MARTIN A THOMSON ownership change
1 Oct 19
4
MACKINAC FINANCIAL / David Russ Steinhardt ownership change
1 Oct 19
4
MACKINAC FINANCIAL / Randolph Clare Paschke ownership change
1 Oct 19
4
MACKINAC FINANCIAL / Robert Harris Orley ownership change
1 Oct 19