Mackinac Financial Corporation reports 2019 First Quarter Results
Mackinac Financial Corporation (MFNC)
Last mackinac financial corporation earnings: 1/29 09:00 am
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snl.com/irweblinkx/corporateprofile.aspx?iid=1019295
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Source: GlobeNewswire
MANISTIQUE, Mich., May 01, 2019 (GLOBE NEWSWIRE) -- Mackinac Financial Corporation (Nasdaq: MFNC) (the “Corporation”), the bank holding company for mBank, today announced 2019 first quarter net income of $3.17 million, or $.30 per share, compared to 2018 first quarter net income of $1.54 million, or $.24 per share. The 2018 first quarter results included expenses related to the acquisition of First Federal of Northern Michigan (“FFNM”), which had an after-tax impact of $200 thousand on earnings. Adjusted net income (net of transaction related and other one-time expenses) for the first quarter of 2018 was $1.74 million or $.28 per share. First quarter 2019 net income compared to 2018 adjusted net income increased by $1.43 million, or 82%. Quarterly loan production
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