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Mackinac Financial (MFNC) Annual Income Statement

Annual · GAAP · USD millions
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Reviewing income statement figures over time helps illustrate how Mackinac Financial generates earnings and manages operating expenses.
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Annual Report, GAAP in USD millions
ITEM 		(Dec 31 2020)
2020 		(Dec 31 2019) (Dec 31 2018) (Dec 31 2017) (Dec 31 2016)
Revenues
Interest and Dividend Income, Securities, Operating2.79
Other Interest and Dividend Income0.63
Other Income58.61
Total Interest Income62.03
Interest Expense, Deposits6.05
Interest Expense, Borrowings1.17
Total Interest Expense7.22
Net Interest Income54.81
Provision for loan losses1.00
Total Net Interest Income53.81
Service Fees, Investment Banking, Brokerage and Other Transactions0.00
Revenue From Contract With Customer Including Assessed Tax1.13
Noninterest Income, Other0.56
Loss / Gain on Investment5.94
Other Non-Interest Income-1.10
Total Non-interest Income10.20
Total Revenues64.01
Costs & Expenses
Salaries & employee benefits, SGA26.99
Restructuring, Accretion & impairment charges0.00
Communications, Occupancy and Information Technology8.40
Professional Fees1.84
Federal Deposit Insurance Corporation Premium Expense0.58
Other loss /-income9.14
Total Operating Expenses46.95
Total Costs & Expenses54.17
Income & Taxes
Income /-loss before income taxes17.06
Income taxes expenses/-benefit3.58
Income after income taxes13.47
Net income/-loss of other equity0.00
Income /-loss after income taxes13.47
Net Income/-loss13.47
Income/-loss to shareholder13.47
Earnings Per Share
Basic EPS (excl. extra items)1.27
Basic Net EPS1.27
Basic shares outstanding (Mill. of Units)10.58
Diluted Net EPS1.27
Diluted average shares (Mill. of Units)10.58
Dividend per share0.56
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About MFNC Annual Income Statement

What this statement shows

This page presents issuer-reported income statement data, detailing revenue, operating costs, expenses, and earnings as disclosed in SEC 10-K filings and standardized by CSIMarket. The income statement reflects operating performance over a reporting period rather than financial position at a single date.

Revenue and expense treatment

Revenue and expense items are aligned to support period-to-period comparability. Operating and non-operating items, interest, and income taxes are classified based on issuer disclosures and XBRL tagging.

Source & verification

  • Source: SEC 10-K filings
  • Filed with the SEC: n/a

Income statement figures represent operating results for each reporting period and may be revised in subsequent filings.