Mackinac Financial has been making nothing but good news lately with the Manistique-based mBank. The latest is that a well-known New York investor has taken steps to buy a significant chunk of the little bank that could.
Excerpt: Mackinac Financial Corp., a bank holding company based in Manistique in the Upper Peninsula, hopes to use an investment from a legendary hedge fund manager to jumpstart its expansion plans for Southeast Michigan.
Mackinac (Nasdaq: MFNC), the holding company for mBank, has seven branches in the U.P., three in the northern Lower Peninsula and just one in metro Detroit -- in Birmingham, where the company's chairman and CEO, Paul Tobias, has his office.
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Source: Crain's Detroit Business
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