Exhibit 99

PRESS RELEASE

MACKINAC FINANCIAL CORPORATION

REPORTS 2017 FOURTH QUARTER AND ANNUAL RESULTS

Manistique, Michigan — Mackinac Financial Corporation (Nasdaq: MFNC) (the “Corporation”), the bank holding company for mBank, today announced 2017 net income of $5.48 million, or $.87 per share, compared to net income $4.48 million, or $.72 per share, in 2016.  The 2017 results include the effects of the $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 related expenses related to the recently announced definitive agreement to acquire First Federal of Northern Michigan Bancorp, Inc. (“FFNM”).  The 2016 results included expenses related to the acquisitions of Niagara Bancorporation, Inc. (“Niagara”) and First National Bank of Eagle River (“Eagle River”) that had an after-tax impact of $2.05 million on earnings. Adjusted core net income for 2017 was $7.57 million (net of the DTA adjustment and FFNM expenses) or $1.20 per share while 2016 (exclusive of all Niagara and Eagle transaction-related expenses) was $6.53 million, or $1.05 per share.  On a per share basis, actual earnings growth was 20% while adjusted earnings growth was 14% year-over-year.

The DTA adjustment negated earnings for the quarter ended December 31, 2017 resulting in a nominal $20 thousand loss for the period ($0.00 per share), compared to earnings of $1.70 million, or $0.27 per share, in the prior year period.  Exclusive of the DTA adjustment and transaction related expenses, the adjusted core net income for the fourth quarter of 2017 was $2.07 million, or $0.33 per share.

Total assets of the Corporation at December 31, 2017 were $985.37 million, compared to $983.52 million at December 31, 2016.  Shareholders’ equity at December 31, 2017 totaled $81.40 million, compared to $78.61 million at December 31, 2016. Book value per share equated to $12.95 compared to $12.55 per share a year ago.  Tangible book value at yearend 2017 was $73.78 million or $11.72 per share compared to $70.74 million or $11.29 per share for 2016.  Market price on the last trading day of the year was $15.90 in 2017 and $13.47 in 2016.  Weighted average shares outstanding totaled 6,288,791 for year-end 2017 compared to 6,236,067 for the same period in 2016.

Key highlights:

·                  mBank, the Corporation’s primary asset, recorded net income of $6.92 million in 2017, compared to $6.05 million, in 2016.  The DTA revaluation resulted in a non-cash tax expense totaling $2.02 million.  Adjusted core net income for 2017 was $8.95 million compared to 2016 (exclusive of $1.754 million in transaction related expenses) of $7.80 million.  Adjusted bank net income grew approximately 15%.

·                  In early 2018 the Corporation announced the execution of a definitive agreement to acquire First Federal of Northern Michigan through an all-stock merger of FFNM with and into a subsidiary of the Corporation. The aggregate value of the transaction is estimated at approximately $41.8 million, subject to MFNC’s closing price on the day the deal closes.  The transaction remains subject to various approvals with an expected closing date late in the second quarter 2018.

·                  Total interest income of $44.38 million for 2017 compared to $37.98 million for the same period in 2016.

·                  Net Interest Margin remains strong at 4.20%, consistent with the 2016 margin of 4.19%.

·                  Credit quality at the bank remains solid with a Texas Ratio of 7.77% compared to 11.76% one year ago, and nonperforming assets of $6.13 million, or .62% of total assets, compared to $8.91 million, or .91% of total assets for the same period in 2016.

Loan Growth and Production

Total loans at yearend 2017 were $811 million, a $29 million increase, equating to 4%, from $782 million at December 31, 2016.  In addition to the balance sheet totals, the Corporation services $198 million of sold mortgage loans and $57 million of sold SBA and USDA loans. Total loans under management equal approximately $1.07 billion.

Total new loan production for 2017 was $275 million. Commercial production accounted for $140 million, aggregate mortgage (mainly 1-4 family) and consumer production was $112 million and production from Mackinac Commercial Credit (“MCC”), the asset based lending division of mBank, was $23 million.  The Upper Peninsula region contributed $127 million, Northern Lower Peninsula $50 million, Southeast Michigan $46 million, Wisconsin $29 million and MCC $23 million.  Commenting on new loan production and overall lending activities, Kelly W. George, President and CEO of mBank stated “Our product mix and geographic diversification has allowed us to remain consistent in our loan production year-over-year and to prudently grow our loan portfolio organically. 2017 was a highly competitive year for good earning assets which impacted overall market loan pricing and caused us to pass on some opportunities where pricing and/or structure did not meet our requirements for that loan type.  Specifically, from a macro portfolio management standpoint, we slowed the origination of non-owner occupied real estate loans given their higher risk profile compared to our preferred portfolio composition.  While we could have increased our production totals, we will remain steadfast in our credit process and profitability requirements for long term balance sheet strength.  We are also very excited about the markets that we will gain through the pending FFNM transaction as well as the complementary granularity of their loan portfolio and mortgage business. The transaction augments our organic production capacity even further and the scale will allow us to aggressively compete in the new markets and the Northern Lower Peninsula region in general.”

Credit Quality

Nonperforming assets totaled $6.13 million, .62% of total assets at December 31, 2017, down from 2016 balances of $8.91 million or .91% of total assets. Total loan delinquencies greater than 30 days resided at a nominal .66%, or $5.40 million. Mr. George, commenting on credit quality, stated, “Our credit quality metrics remain strong with no systematic issues within our loan book as we remain vigilant to ensure continued prudent underwriting standards and not stretch for loans that do not meet our policy guidelines. The slight increase in metrics due to the acquired loan portfolios through our 2016 acquisitions have normalized in 2017 through proactive resolution of some of those troubled credits resulting in even stronger asset quality metrics and desired accretion. We remain comfortable with our remaining purchase accounting marks.  We’ve applied the same rigorous diligence process to our evaluation of the FFNM loan portfolio prior to executing the definitive agreement, and expect to experience similarly reliable results.”

Margin Analysis

2017 net interest income and net interest margin were $37.94 million and 4.20%, compared to $33.10 million and 4.19%, for 2016.  The increase in net interest income was due to organic growth as well as scale achieved through the Niagara and Eagle River acquisitions.  The Corporation also had continued net interest contribution due to the accretive attributes associated with the purchase accounting adjustments related to the three acquisitions completed since December 2014. Mr. George stated, “We have been successful in maintaining our strong net interest margin which is akin to my loan production commentary regarding disciplined loan pricing and proactive review and pricing of in-market deposits. We have also worked to employ targeted wholesale funding strategies that support the long-term structural integrity of our balance sheet composition in an increasing rate environment we have not operated in some time.”

Deposits

Total deposits of $818.00 million at December 31, 2017 remained mostly flat compared to deposits of $823.51 million on December 31, 2016.  Mr. George, commenting on overall deposits and liquidity, stated, “The company maintains a strong liquidity position with many different funding sources to support loan growth and operations. We remain committed to growing core deposits in our local communities through a very competitive product and service mix.  The main impetus behind the slightly lower level of deposits was the loss of a couple acquired high-priced depository relationships that required pledging of bank investments for uninsured balances. One of the key reasons for the business combination with FFNM is the positive impact we expect on our overall deposit base with a large amount of long tenured low-cost core deposits which will enable us to remove some higher priced more volatile brokered CD’s. This balance sheet repositioning on the liability side will provide a more stable funding source for loan growth, and significantly reduce our funding costs in total”.

Noninterest Income/Expense

Noninterest income, at $4.04 million for 2017, remained consistent with the $4.15 million earned in 2016.  The slight decrease in noninterest income was primarily due to a small decrease in gain on sales of secondary mortgage loans and SBA loans.    Income from sold secondary mortgages totaled $1.37 million compared to $1.58 million in 2016 while SBA gains were $.87 million compared to $.90 million in 2016.  Noninterest expense, at $30.34 million in 2017, increased a nominal $451 thousand from 2016.  The 2016 amount included some acquisition costs, most notably the Eagle River data processing termination fee of roughly $1.7 million. There were also customary increases in salaries and benefits given additional employees and increased occupancy expense given the acquired branch offices. Consistent with management’s operating diligence prior to both acquisitions, the Corporation has reached the expected levels of overall efficiencies.

Assets and Capital

Total assets of the Corporation at December 31, 2017 were $985.37 million, up $2 million from the $983.520 million reported at year-end 2016. The Corporation is “adequately” capitalized and the Bank is “well-capitalized” with Total Capital to Risk Weighted Assets at the Corporation of 9.29% and 11.74% at the Bank.

Paul D. Tobias, Chairman and Chief Executive Officer of the Corporation commented, “We continue to execute our strategy of organic and selective acquired growth to build scale, earnings and shareholder value.  We believe our adjusted 2017 earnings show continued progress in achieving our goals.  We are very pleased with the integration and contribution levels of our 2016 acquisitions and believe our recently announced transaction will yield similar results.  We remain committed to being a community bank and supporting local individuals, businesses, and civic organizations to help them grow and prosper.”

Mackinac Financial Corporation is a registered bank holding company formed under the Bank Holding Company Act of 1956 with assets in excess of $985 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 23 branch locations; twelve in the Upper Peninsula, four in the Northern Lower Peninsula, one in Oakland County, Michigan and six in Northern Wisconsin.  The Corporation’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; receipt of regulatory and shareholder approvals in connection with pending acquisitions; 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.

This release contains information related to Mackinac’s pending acquisition of FFNM.  Communications in this release do not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. In connection with the proposed merger, Mackinac will file with the Securities and Exchange Commission (SEC) a Registration Statement on Form S-4 that will include a joint proxy statement of FFNM and Mackinac and a prospectus of Mackinac, as well as other relevant documents concerning the proposed transaction. SHAREHOLDERS AND INVESTORS ARE URGED TO READ THE REGISTRATION STATEMENT AND THE PROXY STATEMENT/PROSPECTUS REGARDING THE MERGER WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. A free copy of the Proxy Statement/Prospectus (when available), as well as other filings containing information about Mackinac, may be obtained at the SEC’s Internet site (http://www.sec.gov). The Proxy Statement/Prospectus (when available) and the other filings may also be obtained free of charge at mBank’s website at www.bankmbank.com under the tab “MFNC Investor Relations,” and then under the tab “SEC Filings.”

The directors, executive officers, and certain other members of management and employees of Mackinac may be deemed to be participants in the solicitation of proxies in favor of the merger from the shareholders of FFNM. Information about the directors and executive officers of Mackinac is included in the proxy statement for its 2017 annual meeting of shareholders, which was filed with the SEC on April 25, 2017.  The directors, executive officers, and certain other members of management and employees of FFNM may also be deemed to be participants in the solicitation of proxies in favor of the merger from the shareholders of FFNM. Information about the directors and executive officers of FFNM and information regarding the interests of such participants will be included in the proxy statement/prospectus and the other relevant documents filed with the SEC when they become available.

MACKINAC FINANCIAL CORPORATION AND SUBSIDIARIES

SELECTED FINANCIAL HIGHLIGHTS

MACKINAC FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

MACKINAC FINANCIAL CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

MACKINAC FINANCIAL CORPORATION AND SUBSIDIARIES

LOAN PORTFOLIO AND CREDIT QUALITY

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Loan Portfolio Balances (at end of period):

Credit Quality (at end of period):

MACKINAC FINANCIAL CORPORATION AND SUBSIDIARIES QUARTERLY FINANCIAL HIGHLIGHTS