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mBank News/Press

mBank Featured in InvestUP News Article

MANISTIQUE, Michigan (January 25, 2019) — If you ever do business with community banks, you may notice something different about them. Tellers greet you by name. Loan officers are familiar with your local company — in fact, they might even be your customers. That personal touch and feeling of comfort is a hallmark of community banks across the Upper Peninsula (U.P.) and beyond. However, they offer more than a warm welcome. Community banks support the local economy by creating jobs, giving back to their communities, and helping small- and medium-sized local business grow and thrive.

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mBank, Northern Initiatives, and Eagle Mine Partner to Offer Assistance to Federal Employees Impacted by Government Shutdown

MARQUETTE, Mich., January 24, 2019 – mBank together with Northern Initiatives and Eagle Mine through the Lundin Foundation have partnered to create a Federal Employee Assistance Loan program to help those being impacted by the government shutdown. The three entities have pooled resources for a special loan program, available to current federal employees either being furloughed or working without pay as a result of the current government shutdown and that live or work in Marquette County.

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mBank Recognizes Growth and Development with Leadership Positions

Over the last year, the mBank footprint continued to grow with the acquisitions of First Federal of Northern Michigan and Lincoln Community Bank. First Federal was headquartered in Alpena, Michigan and the acquisition included 7 branch locations throughout Northern Lower Michigan. The Lincoln Community Bank deal added a branch for mBank in Merrill, Wisconsin. As a result of this growth, mBank is pleased to announce the following promotions within the bank management team.

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mBank Campaign to Support UPAWS

MARQUETTE, Mich., November 29, 2018 – mBank is pleased to announce a new community focused campaign that will benefit the Upper Peninsula Animal Welfare Shelter or UPAWS. For each new qualifying CD, checking, savings, or money market account opened at an Upper Peninsula mBank branch December 1, 2018 through February 15, 2019, $100 will be donated to UPAWS.

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Mackinac Financial Corporation Reports Third Quarter 2018 Results

(Manistique, Michigan) – Mackinac Financial Corporation (Nasdaq: MFNC) (the “Corporation”), the bank holding company for mBank, today announced third quarter 2018 income of $3.07 million, or $.29 per share, compared to net income of $2.09 million, or $.33 per share, for the third quarter of 2017. As expected, the 2018 third quarter results were impacted by expenses related to the acquisition of First Federal of Northern Michigan (FFNM) and pre-closing activity for the Lincoln Community Bank (Lincoln) transaction that closed on October 1, 2018.

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mBank Donates $15K to Local Merrill Organizations

MERRILL, Wisc., Oct 22, 2018 – mBank announced a $15,000 donation to support local non-profits in the Greater Merrill Area earlier this week. The contribution was divided into four grants to help serve four different organizations that make a positive impact in the Merrill Community.

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Mackinac Financial Corporation Completes the Acquisition of Lincoln Community Bank

MANISTIQUE, Mich. October 1, 2018 – The Directors of Mackinac Financial Corporation [Nasdaq: MFNC] (Mackinac), the holding company for mBank, today announced the consummation of the all-cash acquisition of Lincoln Community Bank (Lincoln), Merrill, Wisconsin. Lincoln was immediately consolidated into mBank and both branches were opened as mBank locations on Monday, October 1, 2018. Consistent with the terms of the Agreement and Plan of Merger, the total cash consideration was $8.5 million.

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Mackinac Financial Corporation Declares Cash Dividend on Common Stock

Manistique, Michigan – 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, 2018. The Board of Directors declared a cash dividend of $.12 per common share, payable October 8, 2018 to shareholders of record at September 27, 2018. The dividend is unchanged from the prior quarter’s dividend.

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MFNC Reports Second Quarter 2018 Results Including Impact of Acquisition Activity and Capital Raise

(Manistique, Michigan) – Mackinac Financial Corporation (Nasdaq: MFNC) (the “Corporation”), the bank holding company for mBank, today announced second quarter 2018 income of $396 thousand, or $.05 per share, compared to net income of $1.68 million, or $.27 per share, for the second quarter of 2017. As expected, the 2018 second quarter results were impacted by expenses related to the acquisition of First Federal of Northern Michigan (FFNM) and pre-announcement diligence activity related to the pending Lincoln Community Bank (Lincoln) transaction. Weighted average share count was increased by a common stock offering by the Corporation in June 2018 and the issuance of shares in the FFNM acquisition.

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