SOURCE: Mackinac Financial Corporation

May 16, 2005 11:33 ET

Signs of Change Indicate Strong Future for Local Bank

New mBank Signs Go Up Starting May 16th at Locations in Nine Counties

MANISTIQUE, MI -- (MARKET WIRE) -- May 16, 2005 -- The proverbial grapevine that binds more than 100 employees at the former North Country Bank is generating talk these days; talk about significant changes for the better. "Our employees throughout the region are enjoying a renewed sense of confidence and empowerment in their bank, which May 16th officially launched a brand new moniker: mBank," says Jim Bess, president & chief executive officer of mBank.

This month's rollout of the new name and logo at branch locations welcomes a new era of financial prosperity. New mBank signs will replace the old North Country Bank signage at 12 community-banking locations in the Upper Peninsula and Northern Michigan regions.

"The mBank name isn't just a new identity," says Bess. "Better bank leadership and better bank operations support a community bank that is better all around."

"We have restored our bank's safety and soundness by strengthening our loan portfolio and internal controls. Our capital position has been significantly strengthened through the support of the bank's holding company, Mackinac Financial Corporation," says Paul Tobias, chairman and chief executive officer of the Corporation.

"We could not have accomplished this renewed stability within each of our branch markets without the commitment of our employees. While we made a number of necessary changes, the knowledgeable, familiar faces our customers and neighbors recognize and enjoy doing business with are a reminder of the bank's local roots and its bright future as a community bank," says Bess, based at mBank's headquarters in Manistique.

In addition to exterior signs, mBank's new logo and colors will appear on bank statements and other documents beginning Monday, May 16th, 2005. "Current checks, ATM and credit cards, and loan and payment arrangements remain valid and active. When customers order items such as new checks they will receive materials with the mBank name and logo," says Bess.

"At mBank, you'll find some of the highest rate CDs in the area -- with no strings attached and only $250 minimum deposit, now available at all mBank locations [6-month CD at 3.75% Annual Percentage Yield (APY); 12-month CD APY at 4%.]. Free & Easy Checking featuring a free first box of checks and no minimum balance will also be available soon. Our customers will see many more competitive deposit, loan and investment products in the near future."

Customers will experience no disruption of services during the name transition. As always, drive-through banking is open from 8:30 am to 5 pm daily. Additionally, Saturday hours are an option at several branch locations.

"Customers, friends and neighbors are welcome to stop in, meet our branch manager and customer service personnel, talk with us and find out all we've done to change for the better," says Bess.

About Mackinac Financial Corporation

Mackinac Financial Corporation (NASDAQ: MFNC) of Manistique, Michigan, is a bank holding company that owns mBank. mBank has 12 branches in Northern Michigan and the Upper Peninsula, and a commercial banking office in Bloomfield Hills, Michigan. The Company's banking services include commercial lending and treasury management products and services geared toward small to mid-sized businesses and their owners. In addition, mBank provides a full array of consumer products and services. mBank branch locations include: Manistique, Gaylord, Kaleva, Marquette Main, Marquette Presque Isle, Newberry, Ontonagon, Ripley, Sault Ste. Marie, Stephenson, South Range, and Traverse City.

EDITOR'S NOTE: Please contact Stacy Spitler at P. 616.245.3969 to schedule phone or in-person interviews with MFNC Chairman and Chief Executive Officer Paul Tobias, mBank President and CEO Jim Bess or our local bank officer.

Contact Information

  • Contact:
    Stacy Spitler
    P. 616.245.3969
    C. 616.540.9933