|Over a month ago|
Mackinac Financial reports Q1 EPS 28c, consensus 28c » 16:3604/3004/30/20
Reports Q2 revenue…
Reports Q2 revenue $17.6M, consensus $14.41M.
|Over a quarter ago|
Mackinac Financial reports Q4 adj. core EPS 32c, two est. 34c. » 09:1001/2901/29/20
Paul D. Tobias, Chairman…
Paul D. Tobias, Chairman and Chief Executive Officer of the Corporation and Chairman of mBank concluded, "Overall we are pleased with the Corporation's performance in 2019. As did most financial institutions, we saw the effects of the interest rate environment shift on our second-half earnings. However, our strong core bank fundamentals allowed us to record improved year-over-year earnings per share and increase shareholder value while increasing our dividend and at the same time maintaining our safe and sound risk profile." Tangible book value at year-end 2019 was $137.30 million, or $12.77 per share, compared to $124.33 million, or $11.61 per share, at year-end 2018. Both the Corporation and the Bank are "well-capitalized" with total risk-based capital to risk-weighted assets of 13.22% and 13.06%, respectively, and tier 1 capital to total tier 1 average assets at the Corporation of 10.09% and at the Bank of 9.96%.
Mackinac Financial reports Q3 EPS 35c, consensus 35c » 15:1110/3110/31/19
Reports Q3 revenue…
Reports Q3 revenue $17.91M, consensus $15.15M. Third quarter net interest margin remained solid at 4.39%.
Mackinac Financial boosts quarterly dividend by 2c per share » 13:0509/1709/17/19
Earlier on Tuesday,…
Earlier on Tuesday, Mackinac Financial announced the approval of a cash dividend by its Board of Directors on September 17.The Board of Directors declared a cash dividend of 14c per common share for the third quarter of 2019, payable October 8 to shareholders of record at September 27. The dividend is an increase of 2c per share from the prior quarter's dividend and represents a 17% increase in the annualized dividend from 48c per share to 56c per share.
Mackinac Financial announces buyback up to 5% of shares » 14:3708/2808/28/19
Mackinac Financial announced today that its board has authorized a common stock repurchase program. The new program authorizes the repurchase of 5% of the company's outstanding common stock. Paul Tobias, Chairman and CEO of Mackinac, remarked, "The Board's approval of this program reflects our confidence in our company's intrinsic value. Repurchasing stock is one means of underscoring our commitment to enhancing shareholder value. We are pleased to have the capacity and flexibility to return capital to our shareholders while remaining inquisitive on accretive acquisition opportunities."