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Mackinac Financial Corp's credit losses provision for the three months ended in Sep. 2015 was $0.35 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Sep. 2015 was $1.49 Mil.
Mackinac Financial Corp's quarterly credit losses provision declined from Mar. 2015 ($0.31 Mil) to Jun. 2015 ($0.20 Mil) but then increased from Jun. 2015 ($0.20 Mil) to Sep. 2015 ($0.35 Mil).
Mackinac Financial Corp's annual credit losses provision increased from Dec. 2012 ($0.95 Mil) to Dec. 2013 ($1.68 Mil) but then declined from Dec. 2013 ($1.68 Mil) to Dec. 2014 ($1.20 Mil).
For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.
Mackinac Financial Corp Credit Losses Provision for the trailing twelve months (TTM) ended in Sep. 2015 was 0.639 (Dec. 2014 ) + 0.305 (Mar. 2015 ) + 0.2 (Jun. 2015 ) + 0.35 (Sep. 2015 ) = $1.49 Mil.
Mackinac Financial Corp Annual Data
Mackinac Financial Corp Quarterly Data