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Peer Analysis

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Performance Ratios (%) MFNC Peer Median Peer Average
ROAA 0.71 1.11 0.92
ROAE 6.94 10.10 8.77
Net Interest Margin 4.47 3.77 3.69
Efficiency Ratio 70.85 68.92 67.71
Loans / Deposits 94.65 85.18 85.53
Asset Quality Ratios (%)
NPAs / Assets 0.99 1.44 1.51
NCOs / Avg Loans 0.04 0.03 0.18
Reserves / Loans 0.50 1.06 1.37
Reserves / NPAs 39.84 58.02 102.37
Capital Ratios (%)
Tier 1 Capital 11.95 13.17 13.85
Tangible Equity / Tangible Assets 9.64 9.49 9.61
Total Equity / Total Assets 11.54 10.39 10.47
Market Ratios
Price / Earnings (x) 16.54 12.21 13.38
Price / Book (%) 109.51 127.86 130.34
Dividend Yield (%) 3.09 2.28 1.97
Data for trailing four quarters

Mackinac Financial Corporation's peer group consists of the following: Blackhawk Bancorp, Inc. (BHWB), ChoiceOne Financial Services, Inc. (COFS), Citizens Community Bancorp, Inc. (CZWI), CSB Bancorp, Inc. (CSBB), First Clover Leaf Financial Corp. (FCLF), FS Bancorp (FXLG), Heartland BancCorp (HLAN), Keweenaw Financial Corporation (KEFI), Mid-Wisconsin Financial Services, Inc. (MWFS), NorthWest Indiana Bancorp (NWIN), Ohio Valley Banc Corp. (OVBC), Southern Michigan Bancorp, Inc. (SOMC), Southern Missouri Bancorp, Inc. (SMBC), United Bancorp, Inc. (UBMI)

Mackinac Financial Corporation's financial data is as of 12/31/2018.

Peer financial data is as of 12/31/2018 except for these companies:

United Bancorp, Inc.'s financial data is as of 3/31/2014.
Mid-Wisconsin Financial Services, Inc.'s financial data is as of 3/31/2013.
First Clover Leaf Financial Corp.'s financial data is as of 6/30/2016.

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