Mackinac Financial Corporation to acquire Lincoln Community Bank (Wisconsin)
Mackinac Financial Corporation (MFNC)
Last mackinac financial corporation earnings: 1/29 09:00 am
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US:NASDAQ Investor Relations:
snl.com/irweblinkx/corporateprofile.aspx?iid=1019295
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Source: GlobeNewswire
Mackinac Financial will purchase the stock and acquire all assets of Lincoln Community Bank (Merrill, WI).The transaction is expected to close late in the third Quarter of 2018.The transaction will be Mackinac Financial Corporation’s second in 2018, fifth since December 2014, and will increase the number of branch locations in Wisconsin from 6 to 8 and total branches from 29 to 31. MANISTIQUE, Mich. and MERRILL, Wis., June 07, 2018 (GLOBE NEWSWIRE) -- The Directors of Mackinac Financial Corporation (Nasdaq:MFNC) (Mackinac), the holding company for mBank, and the Directors of Lincoln Community Bank (Lincoln) today announced the execution of a definitive agreement for Mackinac to acquire Lincoln for $8.50 million in cash. Post-transaction assets of MFNC are estimated to be approximately $1.40 billion and gross balance sheet loans of roughly $1.05 billion. “We are extremely pleased to be able to partner with another long-standing community-focused institution in the State of
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