Mackinac financial corp /mi/ (MFNC)
CashFlow / 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'11
Cash Flows from Operating Activities:
Net income

3,051

3,295

3,719

3,669

3,167

3,365

3,069

396

1,537

-20

2,093

1,680

1,726

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,132

-

1,018

1,614

1,371

-652

886

806

660

2,968

896

1,260

813

1,060

1,034

4,302

691

79

899

795

445

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

687

-5

1,630

637

618

47

1,262

667

631

625

628

601

572

585

511

430

395

405

424

427

414

388

364

360

391

393

424

424

416

395

375

382

395

325

345

351

398

Provision for loan losses

100

35

50

200

100

300

50

100

50

225

200

50

150

250

200

150

0

349

350

200

305

639

187

191

183

825

375

100

375

150

150

150

495

-

-

-

-

Deferred tax expense

456

491

293

266

324

-457

820

103

408

3,829

-631

867

889

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred tax expense, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-26

585

-

526

836

712

-74

455

414

334

-1,911

456

637

415

-

-

-

349

-

-

-

-

Deferred income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

455

402

214

Gain on sales/calls of securities

-

-

-

-

-

-

-

-

-

-

-

-

-

1

40

12

97

53

133

259

10

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Gain) on sale of loans sold in the secondary market

447

512

485

289

258

321

244

315

139

257

259

316

298

616

445

286

228

269

242

227

135

135

167

110

81

185

151

219

239

436

443

0

198

217

138

80

42

Origination of loans held for sale in secondary market

18,997

34,412

26,359

15,171

13,604

17,550

18,955

12,412

8,201

16,892

18,807

14,986

15,026

24,752

25,031

18,108

13,802

16,402

14,407

13,844

8,576

8,476

10,225

6,183

4,987

11,405

11,971

15,875

16,722

28,537

16,663

14,416

14,526

17,352

10,372

6,321

4,926

Proceeds from sale of loans in the secondary market

16,900

30,760

26,844

15,460

13,862

17,871

19,199

12,727

8,340

17,149

19,066

15,302

15,324

25,368

25,476

18,394

14,030

16,671

14,649

14,071

8,711

8,611

10,392

6,293

5,068

11,590

12,122

16,094

16,961

28,973

17,106

14,352

14,788

17,435

10,567

6,441

5,005

Loss on sale other real estate held for sale

-

-13

29

-19

-28

-11

-27

7

-26

-53

-26

-6

4

20

-13

19

-16

-59

6

2

-14

-4

-36

-12

-29

-291

-38

27

-2

-19

-1

0

-11

-

-

-

-

(Gain) loss on sale of premises, equipment, and other real estate held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-15

Writedown of other real estate held for sale

3

-

-

-

-

-

-

-

-

37

17

237

16

-

-

-

-

160

110

22

3

-

-

-

-

-

-

-

-

-

-

-

-

305

54

44

452

Stock compensation

168

272

30

58

138

58

201

175

99

100

99

99

100

150

150

150

150

144

144

144

144

108

96

113

112

75

75

75

108

-

-

-

-

-

-

-

-

Change in other assets

-2,090

2,584

7,641

-1,677

2,386

-6,487

147

-678

-513

859

-1,853

-195

-1,334

22,744

-10,392

-2,583

513

-195

581

1,004

-9,578

3,971

290

-106

-43

509

273

-374

302

-254

-5,231

5,244

302

-1,990

2,707

-478

86

Change in other liabilities

-667

195

-296

454

3,351

289

-286

1,178

-1,144

1,181

-47

341

-2,293

2,379

-579

-110

-485

-364

666

234

-6,916

6,541

-93

-11

-100

67

184

453

-354

166

248

320

54

198

211

12

-125

Net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,183

-

2,518

2,212

5,615

3,015

1,781

1,993

1,652

2,252

2,181

3,395

1,473

2,652

7,883

-2,315

1,757

-

-

-

-

Net cash provided by operating activities

3,344

-2,538

-2,185

6,980

5,340

10,169

5,005

3,337

2,120

4,978

4,200

4,076

2,490

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,350

Cash Flows from Investing Activities:
Net increase (decrease) in loans

-17,200

-7,001

-868

16,227

9,291

8,915

-10,110

5,889

1,454

4,623

19,557

4,321

5,099

28,119

-265

27,437

946

136

4,470

18,160

-3,445

15,947

15,668

17,082

2,272

12,460

17,793

1,490

6,110

15,699

14,897

5,788

13,967

11,160

-111

22,179

-7,213

Net decrease in interest-bearing deposits in other financial institutions

1,470

980

1,190

247

740

1,582

1,724

518

1,983

0

938

-864

599

0

2,915

0

100

0

249

494

-35

-

-

-

-

-

-

-

-

-

-

-

-

0

0

724

-21

Purchase of securities available for sale

17,873

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of securities available for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

8,880

2,000

0

5,225

7,504

6,374

9,865

151

60

5,014

216

3,027

7,834

2,901

0

4,974

4,178

4,738

5,186

1,107

6,054

2,331

4,787

8,088

Proceeds from maturities, sales, calls or paydowns of securities available for sale

9,988

11,015

2,301

11,752

4,306

3,159

1,485

57,424

1,336

8,570

2,660

2,005

2,776

9,937

5,846

5,668

5,238

7,545

12,607

11,812

3,127

5,390

3,555

355

149

11,320

1,902

312

164

2,820

1,480

2,973

3,395

4,040

3,724

3,649

4,194

Capital expenditures

1,584

909

1,115

367

346

374

691

936

548

182

479

1,180

536

304

813

683

337

218

449

350

324

277

358

299

499

740

256

251

250

169

885

631

413

371

136

197

330

Proceeds from life insurance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

99

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of other real estate, premises and fixed assets

67

1,125

106

221

415

202

364

554

1,070

971

1,063

209

740

465

578

318

247

512

141

626

423

36

134

205

537

981

100

1,295

34

597

35

127

16

1,705

1,322

1,617

812

Redemption of FHLB stock

-

-

-

-

-

-

-

-

-

-138

0

0

-192

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-824

-

1,704

-14,639

6,485

-15,255

-17,351

-17,262

-5,112

-8,733

-18,948

-134

-11,136

-16,629

-19,005

-8,505

-12,076

-

-

-

-

Net cash (used in) provided by investing activities

9,268

8,149

3,350

-12,150

-4,176

-12,846

12,067

63,875

2,387

4,572

-21,072

-4,682

-1,328

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,780

Cash Flows from Financing Activities:
Net increase (decrease) in deposits

19,704

-37,902

-1,274

17,605

-289

16,266

12,557

-45,011

-11,201

-17,205

-13,042

26,425

-1,692

16,332

9,633

40,871

-17,345

-12,011

33,513

-9,092

-9,060

14,817

7,190

8,306

9,411

4,611

13,781

22,671

-9,321

-4,806

13,982

13,293

7,299

-269

5,391

-1,116

14,004

Net activity on line of credit

3,000

-

-

-

-

-

-8,528

-2,000

1,000

-1,295

0

1,295

-750

-251

-2,800

-6,550

800

-3,488

284

-256

93

-

-

-

1,000

-

-

-

-

-

-

-

-

-

-

-

-

Net increase in fed funds purchased

-16,565

-6,225

0

6,780

-3,875

8,095

-1,000

0

-10,000

0

0

3,000

3,000

-

-

-

-10,000

-

-

-

-

-

-

-

-

-

-

-

-5,000

-

-

-

-

-

-

-

-

Repurchase of common stock

2,729

-

-

-

-

-

-

-

-

-

-

-

-

0

0

51

99

331

285

241

265

0

0

0

143

369

94

29

17

-

-

-

-

-

-

-

-

Dividend on common stock

1,475

1,504

1,504

1,282

1,286

1,285

1,286

1,286

755

756

755

755

756

607

645

639

607

601

640

469

469

468

287

277

276

278

222

222

222

-

-

-

-

-

-

-

-

Proceeds from term borrowing

10,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividend on preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

58

50

63

137

138

137

137

138

138

137

138

138

New term debt issuance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-100

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal payments on borrowings

10,431

5,528

1,153

646

10,658

10,208

25,003

26,977

550

10,550

627

550

550

-100

74

100

100

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-7,351

-

17,698

4,842

-9,801

11,786

17,225

11,264

9,992

1,906

13,342

10,357

-4,697

-6,467

25,279

13,156

7,161

-

-

-

-

Net (decrease) in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-6,992

-

21,920

-7,585

2,299

-454

1,655

-4,005

6,532

-4,575

-3,425

13,618

-14,360

-20,444

14,157

2,336

-3,158

-

-

-

-

Net cash provided by (used in) financing activities

34,634

-38,709

21,069

8,897

-8,358

6,206

-21,333

-42,750

-1,506

-29,806

-14,424

48,415

-6,748

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

13,866

Net (decrease) increase in cash and cash equivalents

47,246

-33,098

22,234

3,727

-7,194

3,529

-4,261

24,462

3,001

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net increase in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-31,296

47,809

-5,586

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

18,996

Supplemental Cash Flow Information:
Cash paid during the year for:
Interest

2,242

2,571

2,647

2,579

2,523

2,347

2,054

2,031

1,746

1,732

1,683

1,557

1,411

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,013

-

1,127

1,127

1,091

1,061

1,049

1,008

1,001

1,436

1,070

1,048

603

1,152

716

1,159

1,145

1,139

805

1,405

1,315

Income taxes

-

-

-

-

-

875

100

585

40

-

-

-

-

1,000

0

50

50

-

-

-

-

25

50

0

25

-

-

-

-

50

25

25

25

0

25

25

25

Noncash Investing and Financing Activities:
Transfers of Foreclosures from Loans to Other Real Estate Held for Sale

155

298

506

527

298

1,100

378

336

64

27

1,461

83

576

2,201

240

228

623

702

179

432

63

100

206

0

282

0

245

38

649

339

328

326

359

-

-

-

-

Transfers of Foreclosures from Loans to Other Real Estate Held for Sale (net of adjustments made through the allowance for loan losses)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,307

798