Mackinac financial corp /mi/ (MFNC)
Balance Sheet / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10
ASSETS
Cash and due from banks

97,041

49,794

66,722

60,680

55,923

64,151

60,619

64,874

40,411

37,420

52,676

78,972

41,166

44,620

46,200

40,226

18,013

25,005

28,581

16,658

24,242

21,947

22,399

20,744

24,748

18,216

22,791

26,216

12,598

26,958

31,403

33,248

16,912

20,071

30,122

22,294

41,715

22,719

36,561

39,165

Federal funds sold

31

32

16,202

10

1,040

6

9

15

16

6

5,006

10,006

3

2,135

2,415

9

3

3

10,000

3

4

-

2

2

3

3

3

3

3

3

16,002

-

14,000

13,999

12,000

12,000

12,000

12,000

12,000

12,000

Cash and cash equivalents

97,072

49,826

-

-

-

64,157

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash and cash equivalents

-

-

82,924

60,690

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash and cash equivalents

-

-

-

-

56,963

-

60,628

64,889

40,427

37,426

57,682

88,978

41,169

46,755

48,615

40,235

18,016

25,008

38,581

16,661

24,246

21,947

22,401

20,746

24,751

18,219

22,794

26,219

12,601

26,961

47,405

33,248

30,912

34,070

42,122

34,294

53,715

34,719

48,561

51,165

Interest-bearing deposits in other financial institutions

8,825

10,295

11,275

12,465

12,712

13,452

9,149

10,873

11,391

13,374

13,374

14,312

13,448

14,047

14,047

7,184

4,989

5,089

5,089

5,338

5,832

5,797

235

235

10

10

10

10

10

10

10

10

10

10

10

10

734

713

692

678

Securities available for sale

114,734

107,972

107,091

110,348

113,460

116,748

111,765

114,182

73,402

75,897

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other securities

-

-

-

-

-

-

500

500

500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Securities available for sale

-

-

-

-

-

-

-

-

-

-

85,009

82,212

83,882

86,273

88,886

71,114

54,021

53,728

54,432

60,561

63,313

65,832

48,742

47,374

47,411

44,388

48,096

47,307

48,556

43,799

42,476

39,054

36,788

38,727

37,022

38,613

37,543

33,860

37,450

34,942

Federal Home Loan Bank stock

4,924

4,924

4,924

4,924

4,924

4,924

4,860

4,860

3,112

3,112

3,250

3,250

2,719

2,911

2,926

2,639

2,169

2,169

2,169

2,169

2,973

2,973

3,060

3,060

3,060

3,060

3,060

3,060

3,060

3,060

3,060

3,060

3,060

3,060

3,060

3,060

3,423

3,423

3,794

3,794

Loans:
Commercial

760,357

765,524

752,715

755,176

732,678

717,032

680,451

684,725

579,718

572,936

572,799

559,388

-

543,573

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Mortgage

263,445

272,014

287,013

-

-

301,461

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Commercial

-

-

-

-

-

-

-

-

-

-

-

-

552,483

-

513,266

503,508

455,575

450,275

446,327

447,086

428,439

433,566

383,759

374,565

361,299

359,368

353,526

343,561

345,032

342,841

329,891

319,398

318,810

311,215

299,135

305,752

287,760

297,047

295,262

302,228

Mortgage

-

-

-

284,864

293,126

-

295,010

299,450

215,804

220,708

217,103

212,306

215,042

218,171

222,840

206,007

147,600

152,272

156,764

150,998

152,016

148,984

119,039

113,332

110,759

110,663

104,504

98,559

97,216

95,413

93,446

90,260

81,953

83,106

86,500

83,194

81,404

80,756

82,312

78,428

Consumer

20,375

21,238

20,214

20,663

19,624

20,371

18,347

19,202

16,919

17,434

18,247

19,059

-

20,113

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Consumer

-

-

-

-

-

-

-

-

-

-

-

-

19,021

-

20,698

16,120

15,450

15,847

16,815

17,163

17,276

18,385

15,575

15,043

13,804

13,801

14,465

13,435

11,803

10,923

10,621

9,795

13,639

-

-

-

-

-

-

-

Installment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,925

6,268

5,866

5,445

5,283

5,153

4,183

Total Loans

1,044,177

1,058,776

1,059,942

1,060,703

1,045,428

1,038,864

993,808

1,003,377

812,441

811,078

808,149

790,753

786,546

781,857

756,804

725,635

618,625

618,394

619,906

615,247

597,731

600,935

518,373

502,940

485,862

483,832

472,495

455,555

454,051

449,177

433,958

419,453

414,402

401,246

391,903

394,812

374,609

383,086

382,727

384,839

Allowance for loan losses

5,292

5,308

5,308

5,306

5,154

5,183

5,186

5,141

5,101

5,079

5,130

5,133

5,146

5,020

4,862

4,733

4,824

5,004

5,779

5,600

5,527

5,140

5,279

5,097

4,883

4,661

4,959

5,177

5,037

5,218

5,186

5,083

5,382

5,251

5,838

6,155

6,184

6,613

5,437

6,371

Net loans

1,038,885

1,053,468

1,054,634

1,055,397

1,040,274

1,033,681

988,622

998,236

807,340

805,999

803,019

785,620

781,400

776,837

751,942

720,902

613,801

613,390

614,127

609,647

592,204

595,795

513,094

497,843

480,979

479,171

467,536

450,378

449,014

443,959

428,772

414,370

409,020

395,995

386,065

388,657

368,425

376,473

377,290

378,468

Premises and equipment

24,522

23,608

23,709

23,166

23,479

22,783

21,831

21,790

16,329

16,290

16,619

16,654

15,970

15,891

16,028

14,699

12,491

12,524

12,670

12,584

12,614

12,658

9,821

9,790

9,800

10,210

10,484

10,536

10,587

10,633

10,744

10,134

9,774

9,627

9,507

9,623

9,715

9,660

9,843

10,085

Other real estate held for sale

2,228

2,194

2,618

2,125

1,961

3,119

2,149

2,461

2,526

3,558

4,413

4,050

4,466

4,782

3,269

3,492

2,684

2,324

2,296

2,392

2,632

3,010

1,843

1,947

2,166

1,884

2,568

2,481

3,825

3,212

3,511

3,518

3,494

3,162

5,212

4,806

5,081

5,562

5,758

5,676

Deferred tax asset

3,154

3,732

4,599

4,609

6,906

5,763

6,285

8,000

4,674

4,970

6,266

7,139

-

8,760

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred tax asset

-

-

-

-

-

-

-

-

-

-

-

-

7,651

-

9,287

10,147

8,523

9,213

9,326

10,013

10,332

11,498

8,681

9,097

9,533

9,933

7,953

8,367

8,726

9,131

9,670

10,271

7,958

8,427

8,349

8,444

8,773

9,028

-

-

Deposit based intangibles

4,874

5,043

5,212

5,380

5,549

5,720

4,373

4,504

1,860

1,922

1,985

2,047

2,110

2,172

2,235

1,992

1,046

1,076

1,106

1,136

1,167

1,196

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Goodwill

19,574

19,574

19,574

19,574

19,224

22,024

20,389

20,389

5,694

5,694

5,694

5,694

5,694

5,694

5,694

5,173

3,805

3,805

3,805

3,805

3,805

3,805

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets

37,589

39,433

38,823

32,045

31,544

25,669

23,784

23,411

16,674

17,125

17,759

17,494

18,126

19,398

16,192

14,751

11,387

10,943

11,371

11,032

9,726

19,274

6,066

5,777

5,882

5,925

5,416

5,143

5,517

5,215

5,469

10,701

5,480

5,233

7,251

4,866

5,381

5,258

15,618

15,966

TOTAL ASSETS

1,356,381

1,320,069

1,355,383

1,330,723

1,316,996

1,318,040

1,254,335

1,274,095

983,929

985,367

1,015,070

1,027,450

976,635

983,520

959,121

892,328

732,932

739,269

754,972

735,338

728,844

743,785

613,943

595,869

583,592

572,800

567,917

553,501

541,896

545,980

551,117

524,366

506,496

498,311

498,598

492,373

492,790

478,696

499,006

500,774

LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES:
Deposits:
Noninterest bearing deposits

278,191

287,611

285,887

276,776

245,201

241,556

240,940

220,176

143,129

148,079

162,142

156,970

147,106

164,179

163,278

149,435

117,704

122,775

114,769

108,068

104,689

95,498

84,073

73,732

68,027

72,936

70,063

64,736

57,547

67,652

62,306

59,872

52,470

51,273

53,736

49,769

39,269

41,264

44,402

41,434

NOW, money market, interest checking

369,003

373,165

375,267

344,213

363,753

368,890

341,651

337,344

260,051

280,309

275,854

259,423

283,314

286,622

287,097

251,140

207,068

202,784

213,737

198,482

206,824

212,565

173,793

148,242

148,023

149,123

158,588

146,203

161,445

155,465

152,286

143,795

151,614

152,563

157,596

149,448

154,420

134,703

-

-

NOW, money market, interest checking

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

127,828

118,909

Savings

109,818

109,548

110,455

111,438

110,978

111,358

104,382

106,022

63,867

61,097

61,832

61,741

61,171

58,315

60,322

48,978

31,994

30,882

31,742

29,921

29,470

28,015

15,263

15,658

14,425

13,039

12,694

12,229

13,273

13,829

15,783

14,248

13,601

14,203

15,618

16,526

17,691

17,670

20,265

20,110

CDs less than $250,000

227,924

233,956

250,506

256,689

245,427

225,236

199,015

181,352

135,554

142,159

144,031

142,649

141,569

141,629

150,170

130,053

116,995

124,084

-

-

127,639

158,657

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

CDs more than $250,000

14,152

12,775

12,964

11,640

12,706

13,737

16,755

18,930

12,738

11,055

9,126

10,597

8,802

8,489

9,015

5,417

7,910

8,532

-

-

29,434

6,610

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

CDs less than $100,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

129,715

133,582

-

-

130,821

143,140

154,371

140,495

133,821

134,767

130,646

135,550

142,125

140,018

137,501

130,685

119,893

114,215

104,258

96,977

94,560

90,573

CDs more than $100,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

27,272

28,731

-

-

24,891

23,151

23,317

23,159

23,816

25,091

24,619

24,355

25,390

25,975

24,066

23,229

24,138

23,102

21,803

22,698

22,809

23,652

Brokered

96,293

58,622

78,500

114,097

119,183

136,760

125,315

151,677

191,458

175,299

182,218

216,865

179,858

164,278

137,298

153,340

111,307

121,266

105,099

90,037

99,857

105,628

62,365

80,093

67,547

67,547

62,706

64,881

37,706

37,706

41,473

41,473

32,836

32,836

34,077

46,607

63,342

73,467

94,660

111,106

Total deposits

1,095,381

1,075,677

1,113,579

1,114,853

1,097,248

1,097,537

1,028,058

1,015,501

806,797

817,998

835,203

848,245

821,820

823,512

807,180

738,363

592,978

610,323

622,334

588,821

597,913

606,973

491,206

484,016

475,710

466,299

461,688

447,907

425,236

434,557

439,363

425,381

412,088

404,789

405,058

399,667

400,783

386,779

404,524

405,784

Federal funds purchased

22,790

6,225

-

-

6,780

2,905

11,000

10,000

10,000

-

-

-

3,000

6,000

-

-

10,000

-

-

15,000

-

-

7,500

-

-

-

-

-

5,000

-

-

-

-

-

-

-

-

-

-

-

FHLB and other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

35,925

-

-

-

35,997

-

-

-

-

-

-

-

Federal Home Loan Bank

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

35,000

-

35,000

35,000

Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,069

-

1,069

1,140

Borrowings

67,120

64,551

70,079

46,232

46,878

57,536

58,216

91,747

80,002

79,552

91,397

92,024

66,279

67,579

67,730

70,604

46,454

45,754

49,593

49,483

49,839

49,846

44,909

42,087

38,852

37,852

35,852

35,925

40,925

35,925

35,925

35,997

35,997

35,997

35,997

36,069

36,069

-

-

-

Borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

36,069

-

-

Total borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

36,069

36,140

Other liabilities

11,030

11,697

11,560

11,798

11,344

7,993

7,694

7,980

5,273

6,417

5,821

5,868

5,527

7,820

5,926

6,280

6,105

6,590

6,954

6,288

6,054

12,970

3,196

3,289

3,300

3,400

3,332

3,149

2,696

3,050

2,884

2,636

2,316

2,262

2,064

1,853

1,841

1,966

2,426

2,619

Total liabilities

1,196,321

1,158,150

1,195,218

1,172,883

1,162,250

1,165,971

1,104,968

1,125,228

902,072

903,967

932,421

946,137

896,626

904,911

880,836

815,247

655,537

662,667

678,881

659,592

653,806

669,789

546,811

529,392

517,862

507,551

500,872

486,981

468,857

473,532

478,172

464,014

450,401

443,048

443,119

437,589

438,693

424,814

443,019

444,543

SHAREHOLDERS’ EQUITY:
Preferred stock - No par value: Authorized - 500,000 shares, Issued and outstanding - none

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

0

0

0

-

-

4,000

4,000

11,000

11,000

11,000

11,000

10,976

10,921

10,866

10,811

10,757

10,706

10,658

10,610

Common stock and additional paid in capital - No par value Authorized - 18,000,000 shares Issued and outstanding - 10,533,589 and 10,748,712 respectively

127,003

129,564

129,292

129,262

129,204

129,066

129,008

128,880

62,080

61,981

61,881

61,782

61,683

61,583

61,433

61,283

61,184

61,133

61,320

61,461

61,558

61,679

53,800

53,703

53,590

53,621

53,915

53,934

53,888

53,797

55,047

-

-

-

-

-

-

-

-

-

Common stock and additional paid in capital - No par value Authorized - 18,000,000 shares Issued and outstanding - 5,554,459, 5,559,859 and 3,419,736 respectively

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

43,525

43,525

43,525

43,525

43,525

-

-

-

-

Common stock and additional paid in capital - No par value Authorized - 18,000,000 shares Issued and outstanding - 3,419,736 shares

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

43,525

43,525

43,517

43,509

Retained earnings

33,316

31,740

29,949

27,734

25,347

23,466

21,386

19,602

20,493

19,711

20,439

19,101

18,176

17,206

16,115

14,982

15,746

15,221

14,229

13,851

12,706

11,804

12,923

12,325

11,796

11,412

8,780

8,156

7,181

6,727

6,028

5,131

990

492

607

-102

-705

-961

1,131

1,236

Accumulated other comprehensive income (loss)
Unrealized gains on available for sale securities

151

1,025

1,142

1,062

413

-245

-806

606

-495

-71

407

508

228

-102

786

865

514

297

591

483

823

562

409

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Minimum pension liability

410

410

218

218

218

218

221

221

221

221

78

78

78

78

49

49

49

49

49

49

49

49

-

-449

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accumulated other comprehensive income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

344

216

350

430

970

924

870

696

604

325

481

550

520

612

681

876

Total shareholders’ equity

160,060

161,919

160,165

157,840

154,746

152,069

149,367

148,867

81,857

81,400

82,649

81,313

80,009

78,609

78,285

77,081

77,395

76,602

76,091

75,746

75,038

73,996

67,132

66,477

65,730

65,249

67,045

66,520

73,039

72,448

72,945

60,352

56,095

55,263

55,479

54,784

54,097

53,882

55,987

56,231

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

1,356,381

1,320,069

1,355,383

1,330,723

1,316,996

1,318,040

1,254,335

1,274,095

983,929

985,367

1,015,070

1,027,450

976,635

983,520

959,121

892,328

732,932

739,269

754,972

735,338

728,844

743,785

613,943

595,869

583,592

572,800

567,917

553,501

541,896

545,980

551,117

524,366

506,496

498,311

498,598

492,373

492,790

478,696

499,006

500,774