Mackinac Financial (MFNC) Announces Completion of First National Bank of Niagara Acquisition
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Mackinac Financial Corporation Completes the Acquisition of First National Bank of Niagara
August 31, 2016 2:42 PM EDTMANISTIQUE, MI -- (Marketwired) -- 08/31/16 -- The Directors of Mackinac Financial Corporation (NASDAQ: MFNC) (Mackinac), the holding company for mBank, today announced the consummation of the acquisition of The First National Bank of Niagara (Niagara), Niagara, Wisconsin, from its holding company Niagara Bancorporation Inc. First National Bank of Niagara was immediately consolidated into mBank and all branches will open as mBank locations on Thursday, September 1, 2016.
The transaction is the second outside of the State of Michigan for Mackinac and will increase post-transaction assets estimated in excess of $960 million and balance sheet loans to roughly... More
