Mackinac Financial Corporation (MFNC) financial statements (2020 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)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments60643747252218
Cash and cash equivalents60643747252218
Total current assets:60643747252218
Noncurrent Assets
Property, plant and equipment24231616131310
Intangible assets, net (including goodwill)25288855
Goodwill20226644 
Intangible assets, net (excluding goodwill)562211 
Deferred income tax assets4
Total noncurrent assets:52512424171810
Other undisclosed assets1,2081,203924913697704544
TOTAL ASSETS:1,3201,318985984739744573
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities1,1581,166904905663670508
Total liabilities:1,1581,166904905663670508
Stockholders' equity
Stockholders' equity attributable to parent, including:1621528179777465
Accumulated other comprehensive income (loss)1(0)(0)(0)010
Retained earnings32232017151211
Other undisclosed stockholders' equity attributable to parent1301296262616254
Total stockholders' equity:1621528179777465
TOTAL LIABILITIES AND EQUITY:1,3201,318985984739744573

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues655433 
Gain on disposition of assets for financial service operations21
Net investment income543211 
Financial services revenue2321 
Cost of revenue(0)(1)(1)(1)(1)(1)(2)
Provision for loan, lease, and other losses(0)(1)
Financial services costs(1)(1)(1)(1)(2)
Gross profit:654421(2)
Operating expenses(11)(9)(23)(21)(18)(18)(11)
Other operating income (expense), net(4)(6)(2)(5)(2)(4)2
Other expenses(4)(3)(2)(2)(2)(2)2
Other nonrecurring (income) expense (3)(0)(3) (2) 
Operating loss:(8)(11)(21)(23)(18)(21)(11)
Nonoperating income  00000
Investment income, nonoperating  00000
Losses on sales of other real estate     (0)(0)
Interest and debt expense(10)(8)(6)(5)(4)(4)(4)
Other undisclosed income from continuing operations before equity method investments, income taxes36303934302821
Income from continuing operations before income taxes:1811117836
Income tax expense (benefit)(4)(2)(6)(2)(2)(1)0
Net income attributable to parent:14854626
Preferred stock dividends and other adjustments      (0)
Net income available to common stockholders, diluted:14854626

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:14854626
Other comprehensive income (loss)(0)0(0)(0) (0) 
Comprehensive income:14854626
Other undisclosed comprehensive income (loss), net of tax, attributable to parent1(0)0(0)(0)0(1)
Comprehensive income, net of tax, attributable to parent:15854525

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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