Mackinac Financial Corporation (MFNC) financial statements (2022 and earlier)

Company profile

Business Address 130 SOUTH CEDAR STREET
MANISTIQUE, MI 49854
State of Incorp. MI
Fiscal Year End December 31
SIC 6022 - State Commercial Banks (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments34424222217913410660
Cash and cash equivalents34424222217913410660
Total current assets:34424222217913410660
Noncurrent Assets
Property, plant and equipment25252626252524
Intangible assets, net (including goodwill)24242424242425
Goodwill20202020202020
Intangible assets, net (excluding goodwill)4445555
Deferred income tax assets2232234
Total noncurrent assets:51515352515252
Other undisclosed assets1,1241,2151,2271,2921,3331,1981,208
TOTAL ASSETS:1,5191,5081,5021,5231,5181,3561,320
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities1,3471,3381,3341,3571,3541,1961,158
Total liabilities:1,3471,3381,3341,3571,3541,1961,158
Stockholders' equity
Stockholders' equity attributable to parent, including:172170168166164160162
Accumulated other comprehensive income (loss)11122(0)1
Retained earnings43423937353332
Other undisclosed stockholders' equity attributable to parent128127127127127127130
Total stockholders' equity:172170168166164160162
TOTAL LIABILITIES AND EQUITY:1,5191,5081,5021,5231,5181,3561,320

Income statement (P&L) ($ in millions)

6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
Revenues2233222
Gain on disposition of assets for financial service operations1122211
Net investment income1111111
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(0)(0)(0)(0)(0)(0)(0)
Gross profit:2222212
Operating expenses(3)(3)(2)(3)(3)(3)(2)
Other operating expense, net(1)(1)(1)(1)(1)(1)(0)
Other expenses(1)(1)(1)(1)(1)(1)(0)
Other nonrecurring (income) expense(0)      
Operating loss:(2)(2)(1)(1)(2)(3)(1)
Interest and debt expense(1)(1)(1)(2)(2)(2)(2)
Other undisclosed income from continuing operations before equity method investments, income taxes 777898
Income (loss) from continuing operations before equity method investments, income taxes:(3)454444
Other undisclosed income from continuing operations before income taxes7      
Income from continuing operations before income taxes:4454444
Income tax expense(1)(0)(1)(1)(1)(1)(1)
Net income available to common stockholders, diluted:3443333

Comprehensive Income ($ in millions)

6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
Net income:3443333
Other undisclosed comprehensive loss  (0)   (0)
Comprehensive income:3433333
Other undisclosed comprehensive income (loss), net of tax, attributable to parent0(0)0(0)2(1)(0)
Comprehensive income, net of tax, attributable to parent:3433523

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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