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Mackinac Financial is a bank holding company. Through its banking subsidiary, mBank (the Bank), Co. is engaged in the general commercial banking business. These banking services include customary retail and commercial banking services, including checking and savings accounts, time deposits, interest bearing transaction accounts, real estate mortgage lending, commercial lending, commercial and governmental lease financing, and direct and indirect consumer financing. The Bank makes mortgage, commercial, and installment loans to customers throughout Michigan and Northeastern Wisconsin. The Bank also provides various consumer loan products including installment, mortgages and home equity loans. According to our MFNC split history records, MFNC has had 1 split.
MFNC split history picture
MFNC (MFNC) has 1 split in our MFNC split history database. The split for MFNC took place on December 16, 2004. This was a 1 for 20 reverse split, meaning for each 20 shares of MFNC owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 50 share position following the split.

When a company such as MFNC conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.

Looking at the MFNC split history from start to finish, an original position size of 1000 shares would have turned into 50 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into MFNC shares, starting with a $10,000 purchase of MFNC, presented on a split-history-adjusted basis factoring in the complete MFNC split history. MFNC split adjusted history picture

Growth of $10,000.00
With Dividends Reinvested

Start date: 06/28/2012
End date: 09/03/2021
Start price/share: $5.73
End price/share: $21.50
Starting shares: 1,745.20
Ending shares: 2,300.21
Dividends reinvested/share: $3.51
Total return: 394.55%
Average Annual Total Return: 19.00%
Starting investment: $10,000.00
Ending investment: $49,454.31
Years: 9.19
 
Growth of $10,000.00
Without Dividends Reinvested

Start date: 06/28/2012
End date: 09/03/2021
Start price/share: $5.73
End price/share: $21.50
Dividends collected/share: $3.51
Total return: 336.39%
Average Annual Total Return: 17.39%
Starting investment: $10,000.00
Ending investment: $43,635.81
Years: 9.19
Date Ratio
12/16/20041 for 20
MFNC is categorized under the Financials sector; below are some other companies in the same sector that also have a history of stock splits:

MGYR Split History
MHI Split History
MIDU Split History
MIDZ Split History
MITT Split History
MLN Split History
MLP Split History
MLPA Split History
MMC Split History
MNRK Split History

Also explore: MFNC shares outstanding history

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