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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Cash to Debt 0.50
MFNC's Cash to Debt is ranked higher than
67% of the 1347 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.20 vs. MFNC: 0.50 )
MFNC' s 10-Year Cash to Debt Range
Min: 0.1   Max: No Debt
Current: 0.5

Equity to Asset 0.11
MFNC's Equity to Asset is ranked higher than
79% of the 1742 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.09 vs. MFNC: 0.11 )
MFNC' s 10-Year Equity to Asset Range
Min: 0.02   Max: 0.14
Current: 0.11

0.02
0.14
Interest Coverage 1.34
MFNC's Interest Coverage is ranked higher than
69% of the 1602 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.27 vs. MFNC: 1.34 )
MFNC' s 10-Year Interest Coverage Range
Min: 0.1   Max: 1.34
Current: 1.34

0.1
1.34
F-Score: 4
Z-Score: 0.19
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 3/10

vs
industry
vs
history
Operating margin (%) 18.13
MFNC's Operating margin (%) is ranked higher than
60% of the 1762 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 28.47 vs. MFNC: 18.13 )
MFNC' s 10-Year Operating margin (%) Range
Min: -433.43   Max: 25.83
Current: 18.13

-433.43
25.83
Net-margin (%) 20.91
MFNC's Net-margin (%) is ranked higher than
74% of the 1769 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 21.29 vs. MFNC: 20.91 )
MFNC' s 10-Year Net-margin (%) Range
Min: -115.45   Max: 135.24
Current: 20.91

-115.45
135.24
ROE (%) 8.05
MFNC's ROE (%) is ranked higher than
75% of the 1776 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 8.43 vs. MFNC: 8.05 )
MFNC' s 10-Year ROE (%) Range
Min: -78.12   Max: 29.84
Current: 8.05

-78.12
29.84
ROA (%) 0.93
MFNC's ROA (%) is ranked higher than
80% of the 1776 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.78 vs. MFNC: 0.93 )
MFNC' s 10-Year ROA (%) Range
Min: -4.44   Max: 2.57
Current: 0.93

-4.44
2.57
ROC (Joel Greenblatt) (%) 45.48
MFNC's ROC (Joel Greenblatt) (%) is ranked higher than
67% of the 1745 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 72.56 vs. MFNC: 45.48 )
MFNC' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -178.7   Max: 60.86
Current: 45.48

-178.7
60.86
Revenue Growth (%) -6.50
MFNC's Revenue Growth (%) is ranked higher than
59% of the 1534 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.20 vs. MFNC: -6.50 )
MFNC' s 10-Year Revenue Growth (%) Range
Min: -63.6   Max: 120.1
Current: -6.5

-63.6
120.1
» MFNC's 10-Y Financials

Financials


Revenue & Net Income
Equity & Asset
Oprt. Cash Flow & Free Cash Flow

» Details

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Ratios

vs
industry
vs
history
P/E(ttm) 12.20
MFNC's P/E(ttm) is ranked higher than
80% of the 1588 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.80 vs. MFNC: 12.20 )
MFNC' s 10-Year P/E(ttm) Range
Min: 1.86   Max: 112.5
Current: 12.2

1.86
112.5
P/B 0.90
MFNC's P/B is ranked higher than
80% of the 1698 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.09 vs. MFNC: 0.90 )
MFNC' s 10-Year P/B Range
Min: 0.16   Max: 2.37
Current: 0.9

0.16
2.37
P/S 2.40
MFNC's P/S is ranked higher than
78% of the 1715 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.89 vs. MFNC: 2.40 )
MFNC' s 10-Year P/S Range
Min: 0.48   Max: 3.38
Current: 2.4

0.48
3.38
PFCF 7.70
MFNC's PFCF is ranked higher than
75% of the 985 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 8.72 vs. MFNC: 7.70 )
MFNC' s 10-Year PFCF Range
Min: 0.73   Max: 163.43
Current: 7.7

0.73
163.43
EV-to-EBIT 16.57
MFNC's EV-to-EBIT is ranked higher than
66% of the 1465 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 14.59 vs. MFNC: 16.57 )
MFNC' s 10-Year EV-to-EBIT Range
Min: 7.6   Max: 61.5
Current: 16.57

7.6
61.5
Shiller P/E 19.60
MFNC's Shiller P/E is ranked higher than
68% of the 1097 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 16.30 vs. MFNC: 19.60 )
MFNC' s 10-Year Shiller P/E Range
Min: 5.16   Max: 24.16
Current: 19.6

5.16
24.16

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 1.80
MFNC's Dividend Yield is ranked lower than
62% of the 1489 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.37 vs. MFNC: 1.80 )
MFNC' s 10-Year Dividend Yield Range
Min: 0.47   Max: 1.83
Current: 1.8

0.47
1.83
Dividend Payout 0.21
MFNC's Dividend Payout is ranked higher than
77% of the 1310 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.31 vs. MFNC: 0.21 )
MFNC' s 10-Year Dividend Payout Range
Min: 0.1   Max: 2.87
Current: 0.21

0.1
2.87
Yield on cost (5-Year) 1.60
MFNC's Yield on cost (5-Year) is ranked lower than
68% of the 1501 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 2.66 vs. MFNC: 1.60 )
MFNC' s 10-Year Yield on cost (5-Year) Range
Min: 0.47   Max: 1.83
Current: 1.6

0.47
1.83
Share Buyback Rate -17.30
MFNC's Share Buyback Rate is ranked higher than
55% of the 1299 Companies
in the Global Banks - Regional - US industry.

( Industry Median: -2.00 vs. MFNC: -17.30 )
MFNC' s 10-Year Share Buyback Rate Range
Min: 0.6   Max: -114
Current: -17.3

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 0.94
MFNC's Price/Tangible Book is ranked higher than
82% of the 1612 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.23 vs. MFNC: 0.94 )
MFNC' s 10-Year Price/Tangible Book Range
Min: 0.19   Max: 2.31
Current: 0.94

0.19
2.31
Price/DCF (Projected) 0.53
MFNC's Price/DCF (Projected) is ranked higher than
79% of the 1179 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.59 vs. MFNC: 0.53 )
MFNC' s 10-Year Price/DCF (Projected) Range
Min: 0.09   Max: 0.96
Current: 0.53

0.09
0.96
Price/Median PS Value 2.31
MFNC's Price/Median PS Value is ranked lower than
53% of the 1580 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 1.10 vs. MFNC: 2.31 )
MFNC' s 10-Year Price/Median PS Value Range
Min: 0.52   Max: 67.96
Current: 2.31

0.52
67.96
Price/Graham Number 0.70
MFNC's Price/Graham Number is ranked higher than
83% of the 1463 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 0.93 vs. MFNC: 0.70 )
MFNC' s 10-Year Price/Graham Number Range
Min: 0.18   Max: 2.43
Current: 0.7

0.18
2.43
Earnings Yield (Greenblatt) 6.10
MFNC's Earnings Yield (Greenblatt) is ranked higher than
67% of the 1609 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 6.80 vs. MFNC: 6.10 )
MFNC' s 10-Year Earnings Yield (Greenblatt) Range
Min: 1.6   Max: 13.2
Current: 6.1

1.6
13.2
Forward Rate of Return (Yacktman) 13.03
MFNC's Forward Rate of Return (Yacktman) is ranked higher than
73% of the 1378 Companies
in the Global Banks - Regional - US industry.

( Industry Median: 13.45 vs. MFNC: 13.03 )
MFNC' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -44.6   Max: 84.5
Current: 13.03

-44.6
84.5

Business Description

Industry: Banks » Banks - Regional - US
Compare:MTB, USB, PNC, PB, CFR » details
Mackinac Financial Corporation was incorporated under the laws of the state of Michigan on December 16, 1974. On December 16, 2004, the Company changed its name from North Country Financial Corporation to Mackinac Financial Corporation. The Company owns all of the outstanding stock of its banking subsidiary, mBank. The Company also owns three non-bank subsidiaries: First Manistique Agency, presently inactive; First Rural Relending Company, a relending company for nonprofit organizations; and North Country Capital Trust, a statutory business trust which was formed solely for the issuance of trust preferred securities. The Company and its subsidiary Bank are engaged in a single industry segment, commercial banking, defined to include commercial and retail banking activities, along with other permitted activities closely related to banking. The Bank currently has 7 branch offices located in the Upper Peninsula of Michigan and 4 branch offices located in Michigan's Lower Peninsula. The Bank maintains offices in Chippewa, Grand Traverse, Luce, Manistee, Marquette, Menominee, Oakland, Otsego, and Schoolcraft Counties. The Bank provides drive-in convenience at 7 branch locations and has 13 automated teller machines. The main business the Corporation is engaged in, through the Bank, is the general commercial banking business, providing a range of loan and deposit products. These banking 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. Funds for the Bank's operation are also provided by brokered deposits and through borrowings from the Federal Home Loan Bank ('FHLB') system, proceeds from the sale of loans and mortgage-backed and other securities, funds from repayment of outstanding loans and earnings from operations. The Bank competes for loans and deposits with other banks, savings and loan associations, credit unions, mortgage bankers, and investment firms in the scope and type of services offered, pricing of loans, interest rates paid on deposits, and number and location of branches, among other things. As a registered bank holding company, the Company is subject to regulation and examination by the Board of Governors of the Federal Reserve System under the Bank Holding Company Act, as amended. The Bank is subject to regulation and examination by the Michigan Department of Financial and Insurance Services and the Federal Deposit Insurance Corporation.
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