UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): JULY 26, 2006
MACKINAC FINANCIAL CORPORATION
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(Exact name of registrant as specified in its charter)
MICHIGAN 0-20167 38-2062816
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
130 SOUTH CEDAR STREET
MANISTIQUE, MICHIGAN 49854
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (800) 200-7032
(NOT APPLICABLE)
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(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
ITEM 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF PRINCIPAL OFFICERS.
On July 26, 2006, the Board of Directors of Mackinac Financial
Corporation (the Corporation), acting upon the recommendation of its Nominating
Committee, elected Lewis Brooks Patterson, age 67, to the Board of Directors of
the Corporation. Mr. Patterson serves as the County Executive of Oakland County,
Michigan. In addition, on July 26, 2006, Mr. Patterson became a member of the
Corporation's Nominating, Compensation and Audit Committee(s).
As a director of the Corporation, Mr. Patterson and the Corporation
will enter into an indemnification agreement. A copy of the form of
indemnification agreement between the Corporation and directors may be found in
Exhibit 10.3 to the Corporation's Current Report on Form 8-K filed December 16,
2004. In addition, as a non-employee director of the Corporation, Mr. Patterson
will receive compensation for his services as a director. A description of the
compensation paid to non-employee directors of the Corporation may be found in
the Corporation's Proxy Statement for its annual meeting of Shareholders held
May 31, 2006 filed May 1, 2006.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Mackinac Financial Corporation
Date: July 31, 2006 By /s/ Ernie R. Krueger
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Ernie R. Krueger
SVP/Controller