Mackinac Financial (MFNC) Cash Flow Statement

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Net income	2.79M
Depreciation and amortization	1.34M
Provision for (benefit of) deferred taxes
Provision for loan losses	350K
(Gain) on sales/calls of securities available for sale	-149K
(Gain) on sale of secondary market loans held for sale	-959K
Origination of secondary market loans held for sale	-56.94M
Proceeds from secondary market loans held for sale	57.9M
Loss on sales of other real estate
Writedown of other real estate	53K
Stock option compensation	450K
Change in other assets	12.46M
Change in other liabilities	-1.17M
Net cash provided by operating activities
Net (increase) in loans	-28.12M
Net (increase) decrease in interest-bearing deposits in other financial institutions	3.02M
Purchase of securities available for sale	-7.23M
Proceeds from sales, maturities or calls of securities available for sale	16.75M
Capital expenditures	-1.83M
Redemption of FHLB stock
Proceeds from sale of premises, equipment, and other real estate	1.14M
Net cash provided by (used in) investing activities
Net increase (decrease) in deposits	33.16M
Dividend on preferred stock
Principal payments on borrowings	-274K
Net cash provided by (used in) financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of period	25.01M
Cash and cash equivalents at end of period	48.62M
Interest	3.27M
Income taxes	100K
Transfers of foreclosures from loans to other real estate held for sale (net of adjustments made through the allowance for loan losses)

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