Exhibit 21 — Subsidiaries of Mackinac Financial Corporation

First Manistique Agency, Inc. — 100% owned
(incorporated as a Michigan corporation)

First Rural Relending Company — 100% owned
(incorporated as a Michigan corporation)

North Country Capital Trust — 100% owned
(organized as a Delaware business trust)

mBank — 100% owned
(incorporated as a Michigan banking corporation)

Subsidiaries of mBank

NCB Real Estate Company — 100% owned
(incorporated as a Michigan corporation)

American Financial Mortgage Corporation — 100% owned
(incorporated as a Michigan corporation)

mBank Mortgage Company LLC — 100% owned
(incorporated as a Michigan corporation)

mBank Employee Services, LLC — 100% owned
(incorporated as a Michigan corporation)

Mackinac Financial Corporation directly owns the first four subsidiaries listed above. mBank owns the remaining four subsidiaries.