Exhibit 99

PRESS RELEASE

MACKINAC FINANCIAL CORPORATION ANNOUNCES THIRD QUARTER 2017 RESULTS

Manistique, Michigan — Mackinac Financial Corporation (Nasdaq: MFNC) (the “Corporation”), the bank holding company for mBank, today announced third quarter 2017 net income of $2.093 million, or $.33 per share, compared to net income of $1.778 million or $.28 per share for the third quarter of 2016.  Net income for the first nine months of 2017 totaled $5.499 million, or $.88 per share, compared to $2.785 million, or $.45 per share, for the same period in 2016.  Total assets of the Corporation at September 30, 2017 totaled $1.015 billion, compared to $959.121 million at September 30, 2016.  Weighted average shares for 2017 totaled 6,286,772 compared to 6,226,900 shares in the same period of 2016.

The period-to-period comparison above includes the effect of the Corporation’s April 2016 acquisition of First National Bank of Eagle River (“Eagle River”) and August 2016 acquisition of Niagara Bancorporation (“Niagara”).  In connection with these acquisitions, the Corporation had aggregate GAAP pre-tax transaction related expenses totaling $2.928 million recorded in the second and third quarters of 2016. These costs, largely associated with the early termination of the Eagle River data processing system in June, reduced the reported nine-month 2016 income by $1.932 million, or $.31 per share, on an after-tax basis.  The adjusted 2016 nine-month net income (exclusive of the transaction related expenses) equates to $4.718 million, or $.76 per share.  The transaction expense impact in the third quarter of 2016 was $237 thousand, or $.04 per share, the exclusion of which results in adjusted net income $2.015 million, or $.32 per share, for the quarter.

Highlights for the first nine months of 2017 include:

·                  mBank, the Corporation’s subsidiary bank, recorded nine-month net income of $6.543 million compared to $3.953 million in 2016.  Excluding $2.512 million of transaction related expenses ($1.658 million after tax), net income was $5.611 million for the first nine months of 2016.  The adjusted year-over-year increase equates to 17%.

·                  Total shareholder equity increased $4.364 million year-over-year from $78.285 million in September 2016 to $82.649 million in 2017.

·                  Total interest income was $32.985 million through September 2017 compared to $27.398 million for the same period in 2016, a 20% increase.

·                  Net interest margin remains solid, at 4.21%.  Net interest income increased from $23.980 million in 2016 to $28.274 million in 2017, an 18% increase.

·                  Credit quality remains strong with a Texas Ratio of 9.34% as of September 30, 2017.

Loans and Nonperforming Assets

Total loans at September 30, 2017 were $808.149 million an increase from $756.804 million at September 30, 2016. In addition to the balance sheet loan totals, the Corporation services $204.078 million of sold mortgage loans and $39.737 million of sold SBA and USDA loans. Total loans under management as of third quarter end were $1.052 billion.

New loan production totaled $211.750 million, with the Upper Peninsula contributing $95.3 million, the Northern Lower Peninsula $38.9 million, Southeast Michigan $36.5 million, Wisconsin $18.1 million and Mackinac Commercial Credit, the Bank’s asset based lending division, $22.9 million.  Commercial loan production accounted for $106.0 million of the total, with consumer loans, primarily 1-4 family mortgages, totaling $82.8 million, inclusive of $48.8 million of secondary market originations. Commenting on new loan production and overall lending activities, Kelly W. George, President and CEO of mBank stated, “We are pleased to have had consistent loan production thus far in 2017 compared to 2016 especially within our asset based lending division which has had its most productive year since its inception with strong growth.  As expected, we have also seen good momentum and production within the markets we entered last year in Northern Wisconsin.  Market pricing remains competitive in all our regions as commercial clients continually gravitate to more fixed rate lending structures.  Our mix of loans remains very good with diversification amongst industry types.  We have passed on some lending opportunities for non-owner occupied commercial real estate to ensure prudent balance sheet risk management in the event of an economic downturn. As expected, our seasonal lending months throughout our northern regions saw an uptick in our mortgage lending activities and income levels from our secondary market mortgage sales along with increased SBA loans sales.”

Nonperforming assets totaled $7.478 million, or .74% of total assets at September 30, 2017 compared to $7.938 million, or .83% of total assets at September 30, 2016.  Total loan delinquencies greater than 30 days resided at a nominal .50%, or $4.164 million. George, commenting on credit quality stated, “Our loan portfolio remains sound with no material weaknesses within any of our lines.  Purchase accounting marks from diligence on the loans acquired from the two 2016 acquisitions have proven sound with positive resolutions accreting to the bank’s earnings. The positive trends in our nonperforming asset totals, Texas ratio, and delinquencies are the result of our steadfast underwriting requirements and focus on proactive loan administration.  With further increases expected in the Prime rate and other variable rate indexes for 2018, we are actively monitoring variable rate borrowers through increasing “shock” tests on their cash flows to determine future stress in any business segment which at this point remains well controlled.”

Margin/Deposit Analysis

Net interest income for the first nine months of 2017 increased to $28.274 million, a 4.21% net interest margin compared to $23.980 million, or 4.21%, in 2016.  Total deposits of $835.203 million September 30, 2017 compared to $807.180 at the same date in 2016.  George, commenting on deposits and overall liquidity, stated “Our net interest margin continues to hold up well even with the various pricing impacts of the Fed rate movements and the flat yield curve.  Focus on current and long-term asset and liability pricing will remain important as we move through this rate cycle to protect our margin.  As we have stated in the past, the Corporation maintains a strong short-term liquidity position made up of various components of core and wholesale funding sources, as well as unpledged investments to support loan growth and operations.  Our funding mix and liquidity will shift slightly throughout the year with the seasonality of some business clients, but the other sources allow for numerous funding instruments to help prudently manage long term interest rate risk.  Liability side focus will remain centered on growing our core deposit levels as these comparatively inexpensive deposits in relation to wholesale sources will continue to prove more and more valuable as rates continue to increase.”

Noninterest Income/Expense

Noninterest income, at $2.724 million, was $287 thousand behind the September 30, 2016 level of $3.012 million. The primary reason for the variance to 2016 was the timing of the customary sales of SBA loans which are anticipated to normalize for the year.  Noninterest expense was $22.418 million for the first three quarters of 2017 compared to $22.376 million for the same period of 2016.  The 2016 total included $2.928 million of transaction-related expenses. Excluding these charges, noninterest expense totaled $19.448 million in the first nine months of 2016.  The largest increase in operating expenses compared to 2016 were salaries, benefits and occupancy expense; areas that are directly impacted by increased operating scale primarily related to the acquisitions of Eagle River and Niagara. The Bank was able to achieve the expected level of cost efficiencies contemplated with the 2016 acquisitions with noninterest expense to total average assets of 2.85% at September 30, 2017 improving from 2.95%, net of transaction expenses, at September 30, 2016 which ratio remains in-line with peer averages.

Assets and Capital

Total assets of the Corporation at September 30, 2017 were $1.015 billion, up $56.0 million from the $959.121 million of total assets at September 30, 2016.  Total common shareholders’ equity at September 30, 2017 was $82.649 million, or $13.13 per share, compared to $78.285 million, or $12.50 per share at September 30, 2016.  Capital levels remain consistent with past periods as Tier 1 Common Equity resided at 6.82% of average assets at the Corporation and 8.88% at mBank.

In closure, Chairman and CEO of the Corporation Paul D. Tobias stated, “We are very pleased with the consistency of our earnings in 2017 after acquiring and integrating two banks in 2016.  Our diligence on expense efficiencies and the respective loan portfolios has proven accurate.  We remain mindful of our cost structure and efficiency ratio which has improved compared to 2016 adjusted levels, even with some inherent expenses of becoming a billion-dollar company.  We will continue to grow the company organically through focus on our core business lines and remain opportunistic as to future accretive and strategic acquisition opportunities. We believe additional scale will positively impact efficiency and continue our progress in earnings performance, building shareholder value and increasing our dividend.”

Mackinac Financial Corporation is a registered bank holding company formed under the Bank Holding Company Act of 1956 with assets in excess of $1 billion and whose common stock is traded on the NASDAQ stock market as “MFNC.”   The principal subsidiary of the Corporation is mBank.  Headquartered in Manistique, Michigan, mBank has 23 branch locations; twelve in the Upper Peninsula, four in the Northern Lower Peninsula, one in Oakland County, Michigan and seven in Northern Wisconsin.  The Company’s banking services include commercial lending and treasury management products and services geared toward small to mid-sized businesses, as well as a full array of personal and business deposit products and consumer loans.

Forward-Looking Statements

This release contains certain forward-looking statements.  Words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “should,” “will,” “view,” 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 detailed 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.

MACKINAC FINANCIAL CORPORATION AND SUBSIDIARIES

SELECTED FINANCIAL HIGHLIGHTS

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CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED STATEMENTS OF OPERATIONS

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LOAN PORTFOLIO AND CREDIT QUALITY

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MACKINAC FINANCIAL CORPORATION AND SUBSIDIARIES

QUARTERLY FINANCIAL HIGHLIGHTS