Exhibit 99

PRESS RELEASE

For Release:	January 31, 2019
Nasdaq:	MFNC
Contact:	Jesse A. Deering, EVP & Chief Financial Officer (248) 290-5906 /jdeering@bankmbank.com
Website:	www.bankmbank.com

MACKINAC FINANCIAL CORPORATION

REPORTS 2018 FOURTH QUARTER AND ANNUAL RESULTS

Manistique, Michigan — Mackinac Financial Corporation (Nasdaq: MFNC) (the “Corporation”), the bank holding company for mBank, today announced 2018 net income of $8.37 million, or $.94 per share, compared to 2017 net income of $5.48 million, or $.87 per share.

The 2018 results included expenses related to the acquisitions of First Federal of Northern Michigan (“FFNM”), and Lincoln Community Bank (“Lincoln”), which had a collective after-tax impact of $2.46 million on earnings. The 2017 results include the effects of a $2.02 million non-cash tax expense related to the revaluation of the company’s Deferred Tax Asset (“DTA”) as a result of the corporate tax code change in December 2017 and a small amount of transaction expenses related to FFNM.  Adjusted core income (net of transaction related expenses) for 2018 was $10.83 million or $1.22 per share compared to 2017 adjusted core income (net of the DTA expense) of $7.54 million, or $1.20 per share.

Weighted average shares outstanding for 2018 were 8,891,967 compared to 6,288,791 for 2017. Weighted average shares outstanding for the fourth quarter 2018 were 10,712,745 compared to 6,294,930 for the same period of 2017.  The Corporation issued 2,146,378 new shares for the FFNM purchase in May 2018 and issued an additional 2,225,807 shares related to the common stock offering completed in June 2018.

The Corporation had fourth quarter 2018 net income of $3.36 million or $.31 per share compared to a $20 thousand loss ($0.00 per share) for the same period of 2017 due to the impact of the DTA revaluation.  The 2018 fourth quarter results were impacted by acquisition related expenses of $386 thousand on an after-tax basis. 2018 fourth quarter income, excluding tax-affected transaction related expenses, was $3.75 million or $.35 per share compared to 2017 income, net of the DTA expense, of $2.07 million or $0.33 per share.

Total assets of the Corporation at December 31, 2018 were $1.32 billion, compared to $985.37 million at December 31, 2017.  Shareholders’ equity at December 31, 2018 totaled $152.07 million, compared to $81.40 million at December 31, 2017.  Book value per share outstanding equated to $14.20 at year-end 2018 compared to $12.93 per share outstanding a year ago.  Tangible book value at year-end 2018 was $124.33 million or $11.61 per share outstanding compared to $73.78 million or $11.72 per share at year-end 2017.

Additional notes:

·mBank, the Corporation’s primary asset, recorded net income of $9.04 million in 2018, compared to $8.98 million in 2017.  In December 2018, mBank had an internal tax allocation expense between it and the Corporation (MFNC) of $1.34 million.  This adjustment resulted from the internal DTA allocation from 2017 and did not have an impact on the consolidated MFNC reported income or balance sheet for 2018.  It was, however, reflected in the mBank 2018 year-end Call Report.  Adjusted core net income for 2018 (including total adjustments for the tax reallocation

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and transaction related expenses of $3.16 million on an after-tax basis) was $12.20 million compared to 2017 core net income of the aforementioned $8.98 million. Adjusted bank core net income grew approximately 36%.

·As expected, FFNM and Lincoln have been fully integrated into the Corporation and mBank as of year-end 2018.  No further significant transaction related expenses are expected from these acquisitions in 2019 and beyond.

·Adjusted income before taxes of the Corporation (net of pre-tax transaction related expenses) was $13.71 million in 2018 compared to $11.12 million in 2017, which eliminates the effect of the non-cash DTA expense year-over-year.  Adjusted fourth quarter income before taxes was $4.75 million in 2018 compared to $2.94 million in 2017, an increase of 61%.

·Reliance on higher cost brokered deposits decreased significantly from $175.30 million or 21.43% of total deposits at year-end 2017 to $136.76 million or 12.46% of total deposits at year-end 2018.

·2018 net interest margin (NIM) remains strong at 4.44%.  Core operating margin, which is net of accretion from acquired loans that were subject to purchase accounting adjustments, was 4.21%.

Revenue

Total revenue of the Corporation for 2018 was $59.64 million compared to $48.42 million in 2017.  Total revenue for the three months ended December 31, 2018 equated to $17.54 million compared to $12.71 million for the same period of 2017.  Total interest income for 2018 was $55.38 million compared to $44.38 million for the same period in 2017.  Fourth quarter interest income equated to $16.09 million compared to $11.39 million in the fourth quarter of 2017.  The 2018 fourth quarter interest income included accretive yield of $946 thousand from combined credit mark accretion associated with acquisitions compared to $503 thousand in the same period of 2017.

Loan Production

Total balance sheet loans at December 31, 2018 were $1.04 billion compared to December 31, 2017 balances of $811.08 million.  Total loans under management now reside at $1.38 billion, which includes $338.17 million of service retained loans.  New loan production for 2018 was $287 million, with origination activity increasing through the second half of the year, as expected.  Commercial originations accounted for $169 million, retail (predominantly mortgage), equated to $46 million, secondary market mortgage production was $57 million and Asset Based Lending (ABL) $15 million. The tables below illustrate year-to-date new loan production totals by region as well as bank-wide new loan production by quarter for 2018 highlighting the effect of seasonality on operations due to the Corporation’s geographic footprint.

Commenting on new loan production and overall lending activities, President of the Corporation and President and CEO of mBank, Kelly W. George, stated, “Commercial loan production outpaced last year’s totals by $27 million with a continued competitive environment for high-quality credits.  We believe the acquired FFNM markets and Wisconsin markets will continue to have a positive impact on all types of originations and we are very pleased with their contributions since the acquisitions and their full integration into our lending culture. Secondary market activity has improved in the third and fourth quarters but remained $9 million less than 2017 after a slower start to the year, predominately driven by the expected

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slowdown in refinance activity. Commercial payoff activity was somewhat elevated this year, totaling $56 million as we saw continued fixed-rate pricing pressure and terms that led us to pass on renewing some larger client relationships that we felt were not prudent to retain for the long-term stability of our margin and macro portfolio mix. We also saw several clients divest of various types of large real estate development projects for liquidity and redeployment of their capital throughout the latter part of the year. Overall, we remain pleased with our lending activities in 2018 and the outlook for 2019 absent any significant adverse market conditions. Key lending personnel should also be able to focus greater time on organic growth initiatives given the multiple acquisition and capital raise activities throughout 2018.”

Credit Quality

Nonperforming loans totaled $5.08 million, or .49% of total loans at December 31, 2018 compared to $2.57 million, or .32% of total loans at December 31, 2017.  The increase in non-performing loans is mainly the result of credits acquired in the FFNM transaction, which were marked to fair value as part of the credit due diligence process.  Total loan delinquencies greater than 30 days resided at a nominal .96%, compared to .66% in 2017.  Provision for loan loss expense for the fourth quarter 2018 was $300 thousand.

Commenting on overall credit risk, Mr. George stated, “As expected, we saw a slight increase in our non-performing and problem loan credit ratios following the FFNM and Lincoln acquisitions. We have seen no signs of any adverse systemic issues in terms of increased payment period times for legacy clients or material deterioration in commercial client financial statements in any of our core industries in which we lend. Similar to previous transactions, we anticipate this slight increase to nonperforming loans and delinquencies will normalize over the coming quarters as we continue to work quickly in resolving these acquired problem credits, either through exit from the bank, or when possible, rehabilitation to an acceptable loan structure and performance.  Also, purchase accounting marks from the previously acquired banks have continued to prove accurate, attaining expected accretion levels.”

Margin Analysis and Funding

Net interest income for 2018 was $47.13 million, leading to a Net Interest Margin (NIM) of 4.44% compared to $37.94 million in 2017 and a NIM of 4.20%.  Core operating margin, which is net of accretion from acquired loans that were subject to purchase accounting adjustments, was 4.21% for 2018.  Net interest income for the fourth quarter of 2018 resided at $13.79 million, and a NIM of 4.64%, compared to $9.66 million and a NIM of 4.18% in the fourth quarter of 2017.  2018 total interest expense was $8.25 million versus $6.44 million for 2017 due mainly to a larger deposit base following the FFNM transaction and partially to an increase in rates on brokered deposits.

Total bank deposits (excluding brokered deposits) have increased by $318.08 million year-over-year from $642.70 million in 2017 to $960.78 million at year-end 2018.  Total brokered deposits were $136.76 million at the end of December 2018,

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down from $175.30 million at December 31, 2017.  FHLB and other borrowings were also down slightly from $60 million at year-end 2017 to $57 million at the end of 2018.

Mr. George stated, “With the lower cost core deposit base we acquired from FFNM and Lincoln, we were able to reposition the balance sheet and remove approximately $40 million of much higher cost wholesale funding sources in 2018. We also continue to maintain our pricing discipline with regard to fixed rate lending, primarily on the commercial side to ensure margin sustainability. The impact of any future Federal Reserve Bank rate moves on funding sources are expected to be more than offset by the positive impact from the increase in the variable rate portion of our well-balanced loan portfolio given the structure of our balance sheet. We have not seen any significant pricing pressure in our high value deposit markets and have had to make nominal increases in our deposit products to remain rate-competitive and offset any potential outflows. Our focus on new core deposit procurement remains a key initiative for 2019 as we look to continue to wind down our wholesale funding sources through aggressive marketing and business development initiatives within our retail branch and treasury management business lines in target markets where greater opportunities exist.”

Noninterest Income / Expense

2018 Noninterest Income was $4.26 million compared to $4.04 million for 2017.  While year-over-year improvement is negligible, 2017 included approximately $230 thousand in additional gains on sales of securities from the bank investment portfolio as well as $315 thousand more in gains on sale of secondary market mortgages and Small Business Administration (SBA) loans compared to 2018.  Overall, non-interest income generated from the larger bank platform is trending positively and we expect SBA income to normalize in 2019.  Noninterest Expense for 2018 was $40.30 million compared to $30.36 million in 2017.  The expense variance from 2017 was heavily impacted by the additional expense related to the larger bank platform following the FFNM and Lincoln transactions including additional salary, benefits and occupancy costs as well as the transaction related expenses.

Assets and Capital

Total assets of the Corporation at December 31, 2018 were $1.32 billion, compared to $985.37 million at December 31, 2017.  Shareholders’ equity at December 31, 2018 totaled $152.07 million, compared to $81.40 million at December 31, 2017.  Both the common stock offering and the FFNM acquisition had positive impacts on the Corporation’s overall capitalization and regulatory capital ratios.  Of the $32.4 million in net proceeds from the June 2018 common stock offering, the Corporation utilized $19.45 million to retire senior holding company debt and $8.5 million for the purchase of Lincoln.  Both the Corporation and the Bank are “well-capitalized” with total risk-based capital to risk-weighted assets of 12.47% and 12.22% and tier 1 capital to total tier 1 average assets at the corporation of 9.24% and at the bank of 9.02%.

Paul D. Tobias, Chairman and Chief Executive Officer of the Corporation and Chairman of mBank concluded, “We believe that 2018 was an extremely productive and transformative year. We continue to execute our growth and acquisition strategy while maintaining focus on credit quality, scale efficiencies, community support and governance.  Our balance sheet attributes are strong due to a capital raise that provides us with a cushion that will help us maintain our ability to seek well-priced acquisitions.  The complementary core deposit base of FFNM and Lincoln allowed us to restructure our liabilities, reducing holding company debt and wholesale funding levels at an opportune time in the rate cycle. Our patience and discipline have

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served us well in all aspects of our business.  We remain optimistic that we will develop acquisition opportunities as we grow organically.  Our focus on efficiency and improved profitability always will be paramount.”

Mackinac Financial Corporation is a registered bank holding company formed under the Bank Holding Company Act of 1956 with assets in excess of $1.3 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 29 branch locations; eleven in the Upper Peninsula, ten 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,” 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, 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.

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MACKINAC FINANCIAL CORPORATION AND SUBSIDIARIES

SELECTED FINANCIAL HIGHLIGHTS

	As of and For the			As of and For the
	Year Ending			Year Ending
	December 31,			December 31,
(Dollars in thousands, except per share data)	2018			2017
	(Unaudited)
Selected Financial Condition Data (at end of period):
Assets	$	1,318,040		$	985,367
Loans	1,038,864			811,078
Investment securities	116,748			75,897
Deposits	1,097,537			817,998
Borrowings	60,441			79,552
Shareholders’ equity	152,069			81,400
Selected Statements of Income Data:
Net interest income	$	47,130		$	37,938
Income before taxes	10,593			11,018
Net income	8,367			5,479
Income per common share - Basic	.94			.87
Income per common share - Diluted	.94			.87
Weighted average shares outstanding	8,891,967			6,288,791
Weighted average shares outstanding- Diluted	8,921,658			6,322,413
Selected Financial Ratios and Other Data:
Performance Ratios:
Net interest margin	4.44		%	4.20		%
Efficiency ratio	77.70			71.39
Return on average assets	.71			.55
Return on average equity	6.94			6.74
Average total assets	$	1,177,455		$	995,826
Average total shareholders’ equity	120,478			81,349
Average loans to average deposits ratio	97.75		%	96.29		%
Common Share Data at end of period:
Market price per common share	$	13.65		$	15.90
Book value per common share	14.20			12.93
Tangible book value per share	11.61			11.72
Dividends paid per share, annualized	.480			.480
Common shares outstanding	10,712,745			6,294,930
Other Data at end of period:
Allowance for loan losses	$	5,183		$	5,079
Non-performing assets	$	8,196		$	6,126
Allowance for loan losses to total loans	.50		%	.63		%
Non-performing assets to total assets	.62		%	.62		%
Texas ratio	6.33		%	7.77		%
Number of:
Branch locations	29			23
FTE Employees	288			233

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MACKINAC FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

	December 31,			December 31,
	2018			2017
	(Unaudited)
ASSETS
Cash and due from banks	$	64,151		$	37,420
Federal funds sold	6			6
Cash and cash equivalents	64,157			37,426
Interest-bearing deposits in other financial institutions	13,452			13,374
Securities available for sale	116,248			75,397
Other securities	500			500
Federal Home Loan Bank stock	4,924			3,112
Loans:
Commercial	717,032			572,936
Mortgage	301,461			220,708
Consumer	20,371			17,434
Total Loans	1,038,864			811,078
Allowance for loan losses	(5,183		)	(5,079		)
Net loans	1,033,681			805,999
Premises and equipment	22,783			16,290
Other real estate held for sale	3,119			3,558
Deferred tax asset	5,763			4,970
Deposit based intangibles	5,720			1,922
Goodwill	22,024			5,694
Other assets	25,669			17,125
TOTAL ASSETS	$	1,318,040		$	985,367
LIABILITIES AND SHAREHOLDERS’ EQUITY
LIABILITIES:
Deposits:
Noninterest bearing deposits	$	241,556		$	148,079
NOW, money market, interest checking	368,890			280,309
Savings	111,358			61,097
CDs<$250,000	225,236			142,159
CDs>$250,000	13,737			11,055
Brokered	136,760			175,299
Total deposits	1,097,537			817,998
Federal funds purchased	2,905			—
Borrowings	57,536			79,552
Other liabilities	7,993			6,417
Total liabilities	1,165,971			903,967
SHAREHOLDERS’ EQUITY:
Common stock and additional paid in capital - No par value
Authorized - 18,000,000 shares
Issued and outstanding - 10,712,745 and 6,294,930, shares respectively	129,066			61,981
Retained earnings	23,466			19,711
Accumulated other comprehensive income
Unrealized gains (losses) on available for sale securities	(245		)	(71		)
Minimum pension liability	(218		)	(221		)
Total shareholders’ equity	152,069			81,400
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	1,318,040		$	985,367

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MACKINAC FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

	For the Years Ended
	December 31,
	2018		2017			2016
	(Unaudited)		(Audited)			(Audited)
INTEREST INCOME:
Interest and fees on loans:
Taxable	$	51,407	$	41,770		$	36,078
Tax-exempt	123		95			64
Interest on securities:
Taxable	2,408		1,606			1,322
Tax-exempt	338		298			220
Other interest income	1,101		607			299
Total interest income	55,377		44,376			37,983
INTEREST EXPENSE:
Deposits	6,492		4,361			3,322
Borrowings	1,755		2,077			1,563
Total interest expense	8,247		6,438			4,885
Net interest income	47,130		37,938			33,098
Provision for loan losses	500		625			600
Net interest income after provision for loan losses	46,630		37,313			32,498
OTHER INCOME:
Deposit service fees	1,441		1,056			995
Income from mortgage loans sold on the secondary market	1,289		1,373			1,575
SBA/USDA loan sale gains	661		867			897
Mortgage servicing income - net	197		(31		)	(40		)
Net security gains	—		231			150
Other	675		545			576
Total other income	4,263		4,041			4,153
OTHER EXPENSE:
Salaries and employee benefits	20,064		15,490			14,625
Occupancy	3,640		3,104			2,680
Furniture and equipment	2,548		2,209			1,749
Data processing	2,503		2,037			1,620
Advertising	905		711			620
Professional service fees	1,575		1,534			1,169
Loan and deposit	1,166		1,335			1,100
Writedowns and losses on other real estate held for sale	182		388			202
FDIC insurance assessment	700		731			488
Telephone	726		604			528
Transaction related expenses	2,951		50			3,101
Other	3,340		2,143			2,003
Total other expenses	40,300		30,336			29,885
Income before provision for income taxes	10,593		11,018			6,766
Provision for (benefit of) income taxes	2,226		5,539			2,283
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$	8,367	$	5,479		$	4,483
INCOME PER COMMON SHARE:
Basic	$	.94	$	.87		$	.72
Diluted	$	.94	$	.87		$	.71

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MACKINAC FINANCIAL CORPORATION AND SUBSIDIARIES

LOAN PORTFOLIO AND CREDIT QUALITY

(Dollars in thousands)

Loan Portfolio Balances (at end of period):

	December 31,		December 31,
	2018		2017
	(Unaudited)		(Unaudited)
Commercial Loans:
Real estate - operators of nonresidential buildings	$	150,251	$	119,025
Hospitality and tourism	77,598		75,228
Lessors of residential buildings	50,204		33,032
Gasoline stations and convenience stores	24,189		21,176
Logging	20,860		17,554
Commercial construction	12,752		9,243
Other	381,178		297,678
Total Commercial Loans	717,032		572,936
1-4 family residential real estate	286,908		209,890
Consumer	20,371		17,434
Consumer construction	14,553		10,818
Total Loans	$	1,038,864	$	811,078

Credit Quality (at end of period):

	December 31,			December 31,
	2018			2017
	(Unaudited)			(Unaudited)
Nonperforming Assets :
Nonaccrual loans	$	5,054		$	2,388
Loans past due 90 days or more	23			—
Restructured loans	—			180
Total nonperforming loans	5,077			2,568
Other real estate owned	3,119			3,558
Total nonperforming assets	$	8,196		$	6,126
Nonperforming loans as a % of loans	.49		%	.32		%
Nonperforming assets as a % of assets	.62		%	.62		%
Reserve for Loan Losses:
At period end	$	5,183		$	5,079
As a % of average loans	.55		%	.64		%
As a % of nonperforming loans	102.09		%	197.78		%
As a % of nonaccrual loans	102.55		%	212.69		%
Texas Ratio	6.33		%	7.77		%
Charge-off Information (year to date):
Average loans	$	941,221		$	795,532
Net charge-offs (recoveries)	$	396		$	566
Charge-offs as a % of average loans, annualized	.04		%	.07		%

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MACKINAC FINANCIAL CORPORATION AND SUBSIDIARIES

QUARTERLY FINANCIAL HIGHLIGHTS

	QUARTER ENDED
	(Unaudited)
	December 31			September 30,			June 30			March 31			December 31
	2018			2018			2018			2018			2017
BALANCE SHEET (Dollars in thousands)
Total loans	$	1,038,864		$	993,808		$	1,003,377		$	812,441		$	811,078
Allowance for loan losses	(5,183		)	(5,186		)	(5,141		)	(5,101		)	(5,079		)
Total loans, net	1,033,681			988,622			998,236			807,340			805,999
Total assets	1,318,040			1,254,335			1,274,095			983,929			985,367
Core deposits	947,040			885,988			844,894			602,601			631,644
Noncore deposits	150,497			142,070			170,607			204,196			186,354
Total deposits	1,097,537			1,028,058			1,015,501			806,797			817,998
Total borrowings	60,441			69,216			91,747			80,002			79,552
Total shareholders’ equity	152,069			149,367			148,867			81,857			81,400
Total tangible equity	124,325			124,605			123,974			74,303			73,784
Total shares outstanding	10,712,745			10,712,745			10,712,745			6,332,560			6,294,930
Weighted average shares outstanding	10,712,745			10,712,745			7,769,720			6,304,203			6,294,930
AVERAGE BALANCES (Dollars in thousands)
Assets	$	1,320,996		$	1,284,068		$	1,117,188		$	982,679		$	996,966
Loans	1,043,409			1,001,763			905,802			810,688			808,306
Deposits	1,087,174			1,042,004			913,220			805,092			817,338
Equity	149,241			149,202			100,518			81,894			82,879
INCOME STATEMENT (Dollars in thousands)
Net interest income	$	13,795		$	13,214		$	10,813		$	9,309		$	9,664
Provision for loan losses	300			50			100			50			225
Net interest income after provision	13,495			13,164			10,713			9,259			9,439
Total noninterest income	1,443			1,343			863			614			1,317
Total noninterest expense	10,678			10,618			11,077			7,928			7,918
Income before taxes	4,260			3,889			499			1,945			2,838
Provision for income taxes	895			820			103			408			2,858
Net income available to common shareholders	$	3,365		$	3,069		$	396		$	1,537		$	(20	)
Income pre-tax, pre-provision	$	4,560		$	3,939		$	599		$	1,995		$	3,062
PER SHARE DATA
Earnings	$	.31		$	.29		$	.05		$	.24		$	—
Book value per common share	14.20			13.94			13.90			12.96			12.93
Tangible book value per share	11.61			11.63			11.57			11.73			11.72
Market value, closing price	13.65			16.20			16.58			16.25			15.90
Dividends per share	.120			.120			.120			.120			.120
ASSET QUALITY RATIOS
Nonperforming loans/total loans	.49		%	.46		%	.50		%	.53		%	.32		%
Nonperforming assets/total assets	.62			.53			.59			.70			.62
Allowance for loan losses/total loans	.50			.52			.51			.63			.63
Allowance for loan losses/nonperforming loans	102.09			114.58			102.31			117.48			197.78
Texas ratio	6.33			5.14			5.80			6.87			7.77
PROFITABILITY RATIOS
Return on average assets	1.01		%	.95		%	.14		%	.63		%	(.01		)%
Return on average equity	8.95			8.16			1.58			7.61			(.10		)
Net interest margin	4.64			4.60			4.26			4.19			4.18
Average loans/average deposits	95.97			96.14			99.19			100.70			98.89
CAPITAL ADEQUACY RATIOS
Tier 1 leverage ratio	9.24		%	9.51		%	9.39		%	7.25		%	7.06		%
Tier 1 capital to risk weighted assets	11.95			12.62			11.87			8.79			8.66
Total capital to risk weighted assets	12.47			13.17			12.39			9.43			9.29
Average equity/average assets (for the quarter)	11.30			11.62			9.00			8.33			8.31
Tangible equity/tangible assets (at quarter end)	9.64			10.13			9.92			7.62			7.55

10