Exhibit 99

PRESS RELEASE

MACKINAC FINANCIAL CORPORATION

REPORTS NINE MONTH AND THIRD QUARTER 2015 RESULTS

Manistique, Michigan — Mackinac Financial Corporation (Nasdaq: MFNC) (the “Corporation”), the bank holding company for mBank, today announced third quarter 2015 net income of $1.018 million or $.16 per share compared to net income available to common shareholders of $.886 million, or $.16 per share for the third quarter of 2014.  The 2015 third quarter results include one-time charges related to (i) the transfer of our asset based lending subsidiary assets to mBank, which charges included unamortized debt issue costs and a prepayment penalty, and (ii) regulatory audit costs incurred with our approval as an SBA preferred lender.  Operating results for the first nine months of 2015 totaled $4.003 million or $.64 per share compared to $2.352 million or $.43 per share for the same period in 2014.  Total assets of the Corporation at September 30, 2015 totaled $754.972 million, compared to $613.943 million on September 30, 2014.

Shareholders’ equity at September 30, 2015 totaled $76.091 million, compared to $67.132 million on September 30, 2014. The book value per share equated to $12.18 on September 30, 2015 compared to $12.06 per share a year ago. Weighted average shares outstanding totaled 6,247,416 for the first nine months of 2015 compared to 5,532,966 for the same period in 2014.

The acquisition of Peninsula Financial Corporation (“PFC”), the holding company for Peninsula Bank, in December 2014 added approximately $125 million in assets, $70 million in loan balances and $100 million in deposits to our organization. In connection with this acquisition we increased shareholders equity by $7.804 million, issued 695,361 shares of our common stock and added approximately 350 new shareholders.

Key highlights for the first nine months of 2015 results include:

·                  mBank, the Corporation’s primary asset, recorded net income of $5.003 million in the first nine months of 2015, compared to $3.654 million for the same period in 2014, a 36.92% increase following the seamless integration of Peninsula Bank.

·                  The Corporation recorded “pre-tax, pre-provision” income of $6.932 million for the first nine months of 2015, compared to $4.116 million for the same period in 2014, an increase of 68%.

·                  Healthy new bank loan growth with production of $175.409 million and $18.971 million of “net” balance sheet growth.

·                  Strong net interest margin, which improved to 4.29% compared to 4.20% in the first nine months of 2014.

·                  Increased contribution from secondary mortgage market activity. Income from this source in the 2015 nine month period totaled $.750 million compared to $.455 million in the 2014 nine month period.

Loans and Nonperforming Assets

Total loans at September 30, 2015 were $619.906 million, a $101.533 million increase from $518.373 million at September 30, 2014, of which approximately $70.0 million is due to the PFC acquisition. The Corporation is up $18.971 million, 3.16%, from year-end 2014 total loans of $600.935 million. In addition to the aforementioned balance sheet totals, the company services

4

$229.769 million of sold mortgage loans and $65.830 million of sold SBA and USDA loans. Total loans under management now total $916 million.

New loan production totaled $175.409 million with the Upper Peninsula contributing $100.091 million, the Northern Lower Peninsula $42.590 million and Southeast Michigan $32.728 million. Commercial loan production accounted for $103.503 million of the nine month total, with consumer loans, primarily 1-4 family mortgages, of $71.906 million.  Commenting on new loan production and overall lending activities, Kelly W. George, President and CEO of mBank stated, “We are very pleased with the new loan opportunities in all our markets which is up $35 million from the prior year same period and we have seen continued new home purchase mortgage business throughout the year as well. Our net loan balances did not quite increase in line with production as we experienced approximately $25 — $30 million of unanticipated loan payoffs due in part to customers moving to other institutions for pricing and terms that were outside of our loan underwriting guidelines.  We have also passed on several loan transactions where we ascertained that loan structures required some form of government guarantee and the clients were able to obtain more traditional financing elsewhere. We have a healthy loan pipeline for the remainder of the year for both commercial and mortgage business and expect this momentum to continue into next year.”

Nonperforming loans totaled $8.028 million, 1.30% of total loans at September 30, 2015, down $1.624 million from June 30, 2015 balances of $9.652 million and up $4.089 million from 2014 year end balances of $3.939 million.  Total loan delinquencies greater than 30 days resided at a nominal 1.47%, or $9.134 million. Mr. George, commenting on credit quality, stated, “Our credit quality risk metrics and overall loan portfolio payment performance remains strong with no systemic issues within any segments of the portfolio. Of note, we expect to exit in the fourth quarter from the previously reported community development paper mill loan transaction for which we remain adequately reserved.  This was the primary reason for the increase in nonperforming loans for 2015.”

Margin Analysis

Net interest income in the first nine months of 2015 increased to $21.755 million, 4.29%, compared to $17.138 million, or 4.20%, in the first nine months of 2014.  The increase in net interest income was largely due to the PFC acquisition as we increased earning assets by approximately $90 million.  We also had increased net interest contribution due to the accretive attributes associated with the purchase accounting adjustments related to PFC loan marks under GAAP. Mr. George stated, “We have been successful in maintaining our strong net interest margin within this historically low interest rate cycle through the use of continued targeted funding strategies and disciplined loan pricing in efforts to mitigate longer term interest rate risk where we maintain a favorable balance sheet position in a rising interest rate environment. We continue to look for any loan and investment opportunities that fit our balance sheet structure but will not take unnecessary risk or extend durations in order to enhance short term yields. In addition, we are pleased that our purchase accounting marks through our loan due diligence completed for the PFC acquisition have proven accurate in augmenting margin dollars.”

Deposits

Total deposits of $622.334 million at September 30, 2015 increased by $131.128 million ($100 million from the PFC acquisition noted above) from deposits of $491.206 million on September 30, 2014 and increased $15.361 million from year end deposits of $606.973 million.  Mr. George, commenting on core deposits and overall liquidity needs, stated “The Corporation maintains a strong liquidity position to fund operations and loan growth. We proactively review our short and long term funding needs and review our pricing levels within the different segments of our deposit products in order to best manage our net interest margin to capture as many dollars as we can. We will also utilize alternative funding sources such as internet CDs and small levels of wholesale deposits when deemed necessary to structure different liabilities to match asset growth durations, and cover any potential short term funding gaps that could arise to protect our balance sheet in various interest rate change stress tests.”

Noninterest Income/Expense

Noninterest income, at $2.747 million in the first nine months of 2015, increased $.638 million from the first nine months 2014 level of $2.109 million.  The primary reason for the improvement was increased year over year activity in the secondary mortgage market.  Income from this source totaled $.750 million compared to $.455 million in the 2014 nine month period.  Noninterest expense, at $17.570 million in the first nine months of 2015, increased $2.439 million, or 16.12% from the first nine months of 2014. The 2015 increase from the first nine months of 2014 was largely attributable to the PFC acquisition in December 2014 in terms of salaries and benefits, occupancy expense of acquired branch offices and some early 2015 data processing costs prior to

5

conversion.  We remain diligent in monitoring and controlling our overall expense base, which continues to reside at below peer levels.

Assets and Capital

Total assets of the Corporation at September 30, 2015 were $754.972 million, up $141.029 million from the $613.943 million reported at September 30, 2014, with approximately $125 million attributable to the acquisition of PFC in December 2014, and up from the $743.785 million of total assets at year-end 2014. Common shareholders’ equity at September 30, 2015 totaled $76.091 million, or $12.18 per share, compared to $67.132 million, or $12.06 per share on September 30, 2014.  The Corporation and the Bank are both “well-capitalized” with Tier 1 Capital at the Corporation of 9.02% and 9.92% at the Bank.

Paul D. Tobias, Chairman and Chief Executive Officer of the Corporation added, “With the acquisition of PFC, the combination of our organizations has resulted in accretive earnings as planned, and we expect this contribution to continue in future periods.   The expansion of our footprint from this business combination provided us with increased growth opportunities in the western part of Marquette County and tangent markets. Our increased asset size resulted in the anticipated operational and scale efficiencies, which contributed to earnings accretion. We believe that we will have additional accretive opportunities in the near term as the regulatory and operating costs for smaller banks dictate a larger asset base.  Early in the fourth quarter we moved MCC, our asset based lending subsidiary, into mBank to take advantage of a lower cost of funds.  This activity is now contributing to earnings and we expect that contribution to accelerate as the market for closely monitored loans grows as the credit cycle ages.  In conclusion, we remain committed to our shareholders in all of our endeavors to increase value by building a safe and sound company with strong asset growth, increasing core earnings per share and growing returns on equity.”

Mackinac Financial Corporation is a registered bank holding company formed under the Bank Holding Company Act of 1956 with assets in excess of $750 million 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 17 branch locations; thirteen in the Upper Peninsula, three in the Northern Lower Peninsula and one in Oakland County, Michigan.  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.

6

MACKINAC FINANCIAL CORPORATION AND SUBSIDIARIES

SELECTED FINANCIAL HIGHLIGHTS

7

MACKINAC FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

8

MACKINAC FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

9

MACKINAC FINANCIAL CORPORATION AND SUBSIDIARIES

LOAN PORTFOLIO AND CREDIT QUALITY

(Dollars in thousands)

Loan Portfolio Balances (at end of period):

Credit Quality (at end of period):

10

MACKINAC FINANCIAL CORPORATION AND SUBSIDIARIES QUARTERLY FINANCIAL HIGHLIGHTS