MANISTIQUE, MI -- (MARKET WIRE) -- 03/07/05 --
Mackinac Financial Corporation (NASDAQ: MFNC) announced today that North Country Bank and Trust is changing its
name to mBank. Beginning in April 2005, the new name and new logo will be
prominently displayed at the Bank's community and commercial locations
throughout Michigan.
"The new bank name is an outgrowth of a $30 million recapitalization of the
Bank's holding company (Mackinac Financial Corporation) in December 2004,"
said Paul Tobias, Chairman and CEO of MFNC. "The mBank name more accurately
depicts the fresh capital and positive approach to growth we're taking to
community and commercial banking throughout the state of Michigan. It's not
at all reflective of new ownership, because the bank hasn't changed owners.
Rather, the new name is a sign that our customers can expect a stronger
bank, with more competitive products and personalized services."
mBank is dedicated to rebuilding a strong community and commercial banking
presence in Michigan, and currently has no plans to change bank hours,
locations or payment centers. Customers can continue to make payments by
mail or at their usual banking location. Current customers can continue to
use their checks, ATM, debit, and credit cards with the old name on them.
Checks with the mBank name will be issued with new check orders, and mBank
will provide new debit, credit, and ATM cards upon the expiration of
current ones.
About Mackinac Financial Corporation
Mackinac Financial Corporation is a registered bank holding company which
owns mBank. The Bank has 12 branches in the Upper Peninsula and Northern
Michigan, as well as 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; as well as checking and savings accounts, time deposits,
interest bearing transaction accounts, safe deposit facilities, real estate
mortgage lending, and direct and indirect consumer financing.
Forward-Looking Statements
This release contains certain forward-looking statements. Words such as
"anticipates," "believes," "estimates," "expects," "intends," "should,"
"will," and variations of such words and similar expressions are intended
to identify forward-looking statements: as defined by the Private
Securities Litigation Reform Act of 1995. These statements reflect
management's current beliefs as to expected outcomes of future events and
are not guarantees of future performance. These statements involve certain
risks, uncertainties and assumptions that are difficult to predict with
regard to timing, extent, likelihood and degree of occurrence. Therefore,
actual results and outcomes may materially differ from what may be
expressed or forecasted in such forward-looking statements. Factors that
could cause a difference include among others: changes in the national and
local economies or market conditions; changes in interest rates and banking
regulations; the impact of competition from traditional or new sources; and
the possibility that anticipated cost savings and revenue enhancements from
mergers and acquisitions, bank consolidations, branch closings and other
sources may not be fully realized at all or within specified time frames,
as well as other risks and uncertainties including but not limited to those
details from time to time in filings of the Company with the Securities and
Exchange Commission. These and other factors may cause decisions and actual
results to differ materially from current expectations. Mackinac Financial
Corporation undertakes no obligation to revise, update, or clarify
forward-looking statements to reflect events or conditions after the date
of this release.
For more information, visit www.northcountrybank.com or call 248-258-6900
Press Contact:
Laura Bergells
Highland Group
616-464-1071 x25
lbergells@gohighlandgroup.com