8-K

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): May 21, 2009

MACKINAC FINANCIAL CORPORATION

(previous filings under the name NORTH COUNTRY FINANCIAL CORPORATION)
(Exact name of registrant as specified in its charter)

MICHIGAN	0-20167	38-2062816
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

130 SOUTH CEDAR STREET, MANISTIQUE, MICHIGAN
(Address of principal executive offices) 49854
(Zip Code)

Registrant’s telephone number, including area code: (888) 343-8147

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):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

EX-99.1

Item 7.01 Other Events and Regulation FD Disclosure

On May 21, 2009, Registrant issued a press release announcing that it had entered into an Asset Purchase and Assumption Agreement to sell two branch offices. The press release is attached as Exhibit No. 99 and incorporated herein by reference.

ITEM 8.01. Other events.

(c) Exhibits

The following exhibits are furnished herewith:

EXHIBIT
NUMBER	EXHIBIT DESCRIPTION
99.1	Press Release of Mackinac Financial Corporation dated May 21, 2009

SIGNATURE

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: May 21, 2009	By:	/s/ Ernie R. Krueger
		Ernie R. Krueger
		EVP/CFO

EXHIBIT INDEX

EXHIBIT
NUMBER	EXHIBIT DESCRIPTION
99.1	Press Release dated May 21, 2009

EX-99.1

Exhibit 99.1

PRESS RELEASE

For Release:	May 21, 2009
Nasdaq:	MFNC
Contact:	Investor Relations at (888) 343-8147
Website:	www.bankmbank.com

mBANK AGREES TO SELL ITS ONTONAGON AND SOUTH RANGE BRANCHES

(Manistique, Michigan) — On May 19, 2009, mBank, an FDIC insured bank wholly owned by Mackinac Financial Corporation (Nasdaq: MFNC), entered into a definitive Purchase and Assumption Agreement with The Miners State Bank of Iron River, Michigan, for the sale of two of their Northwest Upper Peninsula branch offices.

The Asset Purchase and Assumption Agreements call for Miners State Bank of Iron River, Michigan to purchase the branch buildings and assume approximately $30 million of deposits associated with mBank’s branch offices in Ontonagon and South Range. mBank will retain the loans associated with both branches. The transaction is subject to regulatory approval and is expected to close in the third quarter of 2009.

President and CEO of mBank, Kelly George, commented on the branch sales. “These branches were good offices for the Bank and it was a difficult decision to let them go. However, the divestiture of these locations enables the bank to better position and transition the company’s footprint for future growth into “commercial hubs” of the Upper Peninsula. It also allows us to more efficiently allocate personnel resources, and management time to existing larger markets in the UP. This strategy will maximize our resources in the Upper Peninsula to provide stronger shareholder returns as the Michigan economic climate hopefully turns the corner in the coming year. The Upper Peninsula will remain an integral part of the corporation’s overall market strategy.”

Mackinac Financial Corporation is a registered bank holding company formed under the Bank Holding Company Act of 1956 with assets in excess of $450 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 13 branch locations; nine 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.