Mackinac Financial Corporation (MFNC) financial statements (2021 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)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments222606437472522
Cash and cash equivalents222606437472522
Total current assets:222606437472522
Noncurrent Assets
Property, plant and equipment26242316161313
Intangible assets, net (including goodwill)2425288855
Goodwill2020226644
Intangible assets, net (excluding goodwill)4562211
Deferred income tax assets34
Total noncurrent assets:53525124241718
Other undisclosed assets1,2271,2081,203924913697704
TOTAL ASSETS:1,5021,3201,318985984739744
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities1,3341,1581,166904905663670
Total liabilities:1,3341,1581,166904905663670
Stockholders' equity
Stockholders' equity attributable to parent, including:16816215281797774
Accumulated other comprehensive income (loss)11(0)(0)(0)01
Retained earnings39322320171512
Other undisclosed stockholders' equity attributable to parent12713012962626162
Total stockholders' equity:16816215281797774
TOTAL LIABILITIES AND EQUITY:1,5021,3201,318985984739744

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues9655433
Gain on disposition of assets for financial service operations621
Net investment income3543211
Financial services revenue2321
Cost of revenue(1)(0)(1)(1)(1)(1)(1)
Provision for loan, lease, and other losses(1)(0)(1)
Financial services costs(1)(1)(1)(1)
Gross profit:8654421
Operating expenses(11)(11)(9)(23)(21)(18)(18)
Other operating expense, net(4)(4)(6)(2)(5)(2)(4)
Other expenses(4)(4)(3)(2)(2)(2)(2)
Other nonrecurring (income) expense  (3)(0)(3) (2)
Operating loss:(7)(8)(11)(21)(23)(18)(21)
Nonoperating income   0000
Investment income, nonoperating   0000
Losses on sales of other real estate      (0)
Interest and debt expense(7)(10)(8)(6)(5)(4)(4)
Other undisclosed income from continuing operations before equity method investments, income taxes31363039343028
Income from continuing operations before income taxes:17181111783
Income tax expense(4)(4)(2)(6)(2)(2)(1)
Net income available to common stockholders, diluted:131485462

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:131485462
Other comprehensive income (loss)(0)(0)0(0)(0) (0)
Comprehensive income:131485462
Other undisclosed comprehensive income (loss), net of tax, attributable to parent11(0)0(0)(0)0
Comprehensive income, net of tax, attributable to parent:141585452

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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