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Mackinac Financial Corporation Reports First Quarter 2014 Results

MANISTIQUE, MI -- (Marketwired) -- 04/29/14 -- Mackinac Financial Corporation (NASDAQ: MFNC), the bank holding company for mBank (the "Bank"), today announced first quarter 2014 income of $.660 million or $.12 per share compared to net income of $.676 million, or $.12 per share for the first quarter of 2013. The Corporation's primary asset, mBank, recorded a 9.34% increase in net income which equated to $1.100 million for the first quarter of 2014 compared to $1.006 million in 2013. Total assets of the Corporation at March 31, 2014 were $583.592 million, up 7.69% from the $541.896 million reported at March 31, 2013.

Shareholders' equity at March 31, 2014 totaled $65.730 million, compared to $73.039 million on March 31, 2013, a decrease of $7.309 million. Book value of common shareholders' equity was $11.89 per share at March 31, 2014 compared to $11.16 per share at March 31, 2013. The decrease in equity, between periods, includes the redemption of the Preferred Series A Stock of $11 million. Weighted average shares outstanding totaled 5,530,908 shares in the 2014 first quarter compared to 5,559,859 for the same period in 2013.

Some highlights for the first quarter include:

  • Strong credit quality with a Texas ratio of 5.18% compared to 9.81% one year ago.

  • Strong net interest margin improving to 4.25% compared to 4.18% for the first quarter of 2013.

  • Total new loan production of $32.1 million.

  • Increase of dividend on common stock to $.05 per share from $.04 per share one year ago.

  • Continued success with SBA/USDA lending programs with loan sale gains of $.382 million.

Loans and Non-performing Assets

Total loans at March 31, 2014 were $485.862 million, a 7.01% increase from the $454.051 million at March 31, 2013 and up $2.030 million from year-end 2013 total loans of $483.832 million. New loan production totaled $31.1 million with the Upper Peninsula contributing $21.7 million, the Northern Lower Peninsula $8.0 million and Southeast Michigan $1.4 million. Commercial loan production accounted for $19.1 million of the quarter's total, with consumer, primarily 1-4 family mortgages of $12.0 million. Commenting on new loan production and overall lending activities, Kelly W. George, President and CEO of mBank, stated, "We were generally pleased with our overall loan production for the quarter in light of the very harsh and elongated winter in Northern Michigan where the majority of our lending activities reside, especially within the retail loan segments. Loan balance growth was stymied due to various commercial loan pay downs for existing clients as they moved to reduce debt with excess cash reserves, and a few relationships exited as the bank elected to not match various terms and rates that were outside of our acceptable parameters. We continue to see more competitive commercial lending rates and terms within all our markets as more financial intuitions look to grow commercial loans in this interest rate environment that has materially slowed the recent healthy mortgage lending business for many. Our loan pipeline remains good for both traditional commercial and SBA loans, and we have begun to see an increase in mortgage lending activities as we move into our customary higher volume lending seasons in the North through the second and third quarters."

Nonperforming loans totaled $1.491 million, .31% of total loans at March 31, 2014 compared to $3.833 million, or .84% of total loans at March 31, 2013 and down $.533 million from December 31, 2013. Nonperforming assets were reduced by $4.001 million from a year ago and stood at .63% of total assets and equated to $3.657 million. Total loan delinquencies greater than 30 days resided at a nominal .25% or $1.212 million. George, commenting on credit quality, stated, "Our credit risk quality metrics and overall loan portfolio payment performance remains strong. We are diligent within our loan origination structures and will not stretch our prudent lending parameters for new loans. We continue to timely identify any problems so they can be evaluated and action plans put in place to either rehabilitate the credit or exit it from the bank in a timely manner to alleviate any excessive ongoing administrative costs."

Margin Analysis

Net interest income in the first quarter of 2014 increased to $5.593 million, 4.25%, compared to $5.156 million, or 4.18%, in the first quarter of 2013. The interest margin increase was largely due to decreased overall funding costs. George stated, "We will continue our efforts to maintain our strong net interest margin within this historically low interest rate cycle though the use of continued targeted funding strategies and disciplined loan pricing and terms in efforts to mitigate longer term interest rate risk. We continue to look for any investment opportunities that fit our balance sheet structure but will not take unnecessary risk associated with investment portfolio opportunities that improperly extend duration in order to enhance short term yields in our collective judgments. We will remain committed to our core banking philosophy which emphasizes loan growth as the best asset to invest in to benefit and help grow the economic bases in our local communities, which in turn also provides for the best overall returns to our shareholders."

Deposits

Total deposits of $475.710 million at March 31, 2014 increased by 11.87% from deposits of $425.236 million on March 31, 2013 and were up $9.411 million from year end deposits $466.299 million. The overall increase in deposits for the first three months of 2014 from year end is comprised of an increase in core deposits, mostly in certificates of deposits. George, commenting on core deposits and overall liquidity needs, stated, "The Corporation maintains a sound liquidity position to fund operations and loan growth. We proactively 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."

Noninterest Income/Expense

Noninterest income, at $.691 million in the first quarter of 2014, decreased $.067 million from the first quarter 2013 level of $.758 million. The primary driver for the decrease was a reduced level of fees and gains on the sale of loans from secondary market mortgage lending of $.196 million from prior year period. Noninterest expense, at $5.107 million in the first quarter of 2014, increased $.796 million, or 18.47% from the first quarter of 2013. The largest increase from the first quarter of 2013 was in salaries and benefits, largely reflective of the compensation packages for the staff up of our asset based lending subsidiary formed in the third quarter of 2013. We also had increased occupancy costs between periods due primarily to our new Marquette branch office, which we moved into late in 2013. We incurred some additional legal costs as well in the first quarter of 2014 for the exploration of an acquisition and additional SEC filing work needed this year.

Assets and Capital

Total assets of the Corporation at March 31, 2014 were $583.592 million, up 7.69% from the $541.896 million reported at March 31, 2013 and up $10.792 million from the $572.800 million of total assets at year-end 2013. The increase in assets during the first quarter was primarily due to increased liquidity, as we grew our deposits in anticipation of loan funding needs. Common shareholders' equity at March 31, 2014 totaled $65.730 million, or $11.89 per share, compared to $62.039 million, or $11.16 per share on March 31, 2013. The Corporation and the Bank are both "well-capitalized" with Tier 1 Capital at the Corporation of 10.25% and 10.10% at the Bank.

Paul D. Tobias, Chairman and Chief Executive Officer of Mackinac, concluded, "We are looking forward to another year of progress in the organic growth of our Corporation which will be enhanced from the recent startup of our asset based lending subsidiary and our proven track record of core bank balance sheet growth with good quality loans and sustained levels of SBA/USDA lending. We also believe that we will have accretive opportunities for acquisitions that augment our footprint as the regulatory and operating costs for smaller banks lead them to consider a sale. 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 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 $580 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 11 branch locations; seven 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, branch closings 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.


              MACKINAC FINANCIAL CORPORATION AND SUBSIDIARIES
                       SELECTED FINANCIAL HIGHLIGHTS


(Dollars in thousands, except per    March 31,   December 31,    March 31,
 share data)                           2014          2013          2013
                                   ------------  ------------  ------------
                                    (Unaudited)   (Unaudited)   (Unaudited)
Selected Financial Condition Data
 (at end of period):
Assets                             $    583,592  $    572,800  $    541,896
Loans                                   485,862       483,832       454,051
Investment securities                    47,411        44,388        48,556
Deposits                                475,710       466,299       425,236
Borrowings                               38,852        37,852        40,925
Common Shareholders' Equity              65,730        65,249        62,039
Shareholders' equity                     65,730        65,249        73,039


Selected Statements of Income
 Data:
Net interest income                $      5,593  $     21,399  $      5,156
Income before taxes and preferred
 dividend                                   994         5,534         1,228
Net income                                  660         5,629           676
Income per common share - Basic             .12          1.01           .12
Income per common share - Diluted           .12          1.00           .12
Weighted average shares
 outstanding                          5,530,908     5,558,313     5,559,859
Weighted average shares
 outstanding- Diluted                 5,549,730     5,650,058     5,559,859

Selected Financial Ratios and
 Other Data:
Performance Ratios:
Net interest margin                        4.25%         4.17%         4.18%
Efficiency ratio                          80.57         67.46         72.65
Return on average assets                    .46          1.01           .51
Return on average common equity            4.09          9.07          4.47
Return on average equity                   4.09          8.26          3.79

Average total assets               $    580,717  $    555,152  $    541,279
Average common shareholders'
 equity                                  65,462        62,082        61,238
Average total shareholders' equity       65,462        68,172        72,238
Average loans to average deposits
 ratio                                   102.62%       103.46%       104.63%


Common Share Data at end of
 period:
Market price per common share      $      12.54  $       9.90  $       9.21
Book value per common share        $      11.89         11.77  $      11.16
Dividends paid per share,
 annualized                        $        .20           .20  $        .16
Common shares outstanding             5,527,690     5,541,390     5,557,859

Other Data at end of period:
Allowance for loan losses          $      4,883  $      4,661  $      5,037
Non-performing assets              $      3,657  $      3,908  $      7,658
Allowance for loan losses to total
 loans                                     1.01%          .96%         1.11%
Non-performing assets to total
 assets                                     .63%          .68%         1.41%
Texas ratio                                5.18%         5.59%         9.90%

Number of:
  Branch locations                           11            11            11
  FTE Employees                             133           133           126



              MACKINAC FINANCIAL CORPORATION AND SUBSIDIARIES
                        CONSOLIDATED BALANCE SHEETS

                                     March 31,   December 31,    March 31,
                                       2014          2013          2013
                                   ------------  ------------  ------------
                                    (Unaudited)                 (Unaudited)
ASSETS

Cash and due from banks            $     24,748  $     18,216  $     12,598
Federal funds sold                            3             3             3
                                   ------------  ------------  ------------
  Cash and cash equivalents              24,751        18,219        12,601

Interest-bearing deposits in other
 financial institutions                      10            10            10
Securities available for sale            47,411        44,388        48,556
Federal Home Loan Bank stock              3,060         3,060         3,060

Loans:
  Commercial                            361,299       359,368       345,032
  Mortgage                              110,759       110,663        97,216
  Consumer                               13,804        13,801        11,803
                                   ------------  ------------  ------------
    Total Loans                         485,862       483,832       454,051
      Allowance for loan losses          (4,883)       (4,661)       (5,037)
                                   ------------  ------------  ------------
Net loans                               480,979       479,171       449,014

Premises and equipment                    9,800        10,210        10,587
Other real estate held for sale           2,166         1,884         3,825
Deferred tax asset                        9,533         9,933         8,726
Other assets                              5,882         5,925         5,517
                                   ------------  ------------  ------------

TOTAL ASSETS                       $    583,592  $    572,800  $    541,896
                                   ============  ============  ============

LIABILITIES AND SHAREHOLDERS'
 EQUITY

LIABILITIES:
Deposits:
  Noninterest bearing deposits     $     68,027  $     72,936  $     57,547
  NOW, money market, interest
   checking                             148,023       149,123       161,445
  Savings                                14,425        13,039        13,273
  CDs < $100,000                        154,371       140,495       130,646
  CDs > $100,000                         23,317        23,159        24,619
  Brokered                               67,547        67,547        37,706
                                   ------------  ------------  ------------
      Total deposits                    475,710       466,299       425,236

Borrowings:
  Fed funds purchased                         -             -         5,000
  FHLB and other                         38,852        37,852        35,925
                                   ------------  ------------  ------------
      Total borrowings                   38,852        37,852        40,925
  Other liabilities                       3,300         3,400         2,696
                                   ------------  ------------  ------------
    Total liabilities                   517,862       507,551       468,857

SHAREHOLDERS' EQUITY:
  Preferred stock - No par value:
    Authorized 500,000 shares,
     Issued and outstanding -
     11,000 shares                            -             -        11,000
  Common stock and additional paid
   in capital - No par value
    Authorized - 18,000,000 shares
    Issued and outstanding -
     5,527,690; 5,541,390; and
     5,557,859 shares respectively       53,590        53,621        53,888
    Retained earnings                    11,796        11,412         7,181
    Accumulated other
     comprehensive income                   344           216           970
                                   ------------  ------------  ------------

      Total shareholders' equity         65,730        65,249        73,039
                                   ------------  ------------  ------------

TOTAL LIABILITIES AND
 SHAREHOLDERS' EQUITY              $    583,592  $    572,800  $    541,896
                                   ============  ============  ============



               MACKINAC FINANCIAL CORPORATION AND SUBSIDIARIES
                    CONSOLIDATED STATEMENTS OF OPERATIONS

                                                      Three Months Ended
                                                          March 31,
                                                 ---------------------------
                                                      2014          2013
                                                 ------------- -------------
                                                         (Unaudited)
INTEREST INCOME:
  Interest and fees on loans:
    Taxable                                      $       6,281 $       5,889
    Tax-exempt                                              23            27
  Interest on securities:
    Taxable                                                237           240
    Tax-exempt                                              13             7
  Other interest income                                     48            31
                                                 ------------- -------------
    Total interest income                                6,602         6,194
                                                 ------------- -------------

INTEREST EXPENSE:
  Deposits                                                 822           877
  Borrowings                                               187           161
                                                 ------------- -------------
    Total interest expense                               1,009         1,038
                                                 ------------- -------------

Net interest income                                      5,593         5,156
Provision for loan losses                                  183           375
                                                 ------------- -------------
Net interest income after provision for loan
 losses                                                  5,410         4,781
                                                 ------------- -------------

OTHER INCOME:
  Deposit service fees                                     157           162
  Income from secondary market loans sold                  103           299
  SBA/USDA loan sale gains                                 382           109
  Mortgage servicing income                                 13           103
  Other                                                     36            85
                                                 ------------- -------------
    Total other income                                     691           758
                                                 ------------- -------------

OTHER EXPENSE:
  Salaries and employee benefits                         2,541         2,306
  Occupancy                                                538           382
  Furniture and equipment                                  319           270
  Data processing                                          286           265
  Advertising                                              107           104
  Professional service fees                                331           225
  Loan and deposit                                          79            73
  Writedowns and losses on other real estate
   held for sale                                             -             2
  FDIC insurance assessment                                 85           105
  Telephone                                                 82            82
  Other                                                    739           497
                                                 ------------- -------------
    Total other expenses                                 5,107         4,311
                                                 ------------- -------------

Income before provision for income taxes                   994         1,228
Provision for income taxes                                 334           415
                                                 ------------- -------------

NET INCOME                                                 660           813
                                                 ------------- -------------

Preferred dividend and accretion of discount                 -           137

                                                 ------------- -------------
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS      $         660 $         676
                                                 ============= =============

INCOME PER COMMON SHARE:
  Basic                                          $         .12 $         .12
                                                 ============= =============
  Diluted                                        $         .12 $         .12
                                                 ============= =============
               MACKINAC FINANCIAL CORPORATION AND SUBSIDIARIES
                      LOAN PORTFOLIO AND CREDIT QUALITY
(Dollars in thousands)

Loan Portfolio Balances (at end of period):

                                     March 31,    December 31,   March 31,
                                        2014          2013          2013
                                   ------------- ------------- -------------
                                    (Unaudited)   (Unaudited)   (Unaudited)
Commercial Loans:
Real estate - operators of
 nonresidential buildings          $      97,153 $     100,333 $      94,828
Hospitality and tourism                   44,243        45,360        42,733
Lessors of residential buildings          13,649        14,191        13,162
Gasoline stations and convenience
 stores                                   11,980        11,534        11,201
Commercial construction                   10,685        10,904        16,295
Insurance agencies and brokerages         10,331        10,097        11,854
Other                                    173,258       166,949       154,959
                                   ------------- ------------- -------------
  Total Commercial Loans                 361,299       359,368       345,032

1-4 family residential real estate       104,376       103,768        89,629
Consumer                                  13,804        13,801        11,803
Consumer construction                      6,383         6,895         7,587
                                   ------------- ------------- -------------

  Total Loans                      $     485,862 $     483,832 $     454,051
                                   ============= ============= =============



Credit Quality (at end of period):


                                     March 31,   December 31,    March 31,
                                       2014          2013          2013
                                   ------------  ------------  ------------
                                    (Unaudited)   (Unaudited)   (Unaudited)
Nonperforming Assets :
Nonaccrual loans                   $        983  $      1,410  $      3,833
Loans past due 90 days or more                -             -             -
Restructured loans                          508           614             -
                                   ------------  ------------  ------------
  Total nonperforming loans               1,491         2,024         3,833
Other real estate owned                   2,166         1,884         3,825
                                   ------------  ------------  ------------
  Total nonperforming assets       $      3,657  $      3,908  $      7,658
                                   ============  ============  ============
Nonperforming loans as a % of
 loans                                      .31%          .42%          .84%
                                   ------------  ------------  ------------
Nonperforming assets as a % of
 assets                                     .63%          .68%         1.41%
                                   ------------  ------------  ------------
Reserve for Loan Losses:
At period end                      $      4,883  $      4,661  $      5,037
                                   ------------  ------------  ------------
As a % of average loans                    1.00%         1.01%         1.12%
                                   ------------  ------------  ------------
As a % of nonperforming loans            327.50%       230.29%       131.41%
                                   ------------  ------------  ------------
As a % of nonaccrual loans               496.74%       330.57%       131.41%
                                   ------------  ------------  ------------
Texas Ratio                                5.18%         5.59%         9.90%
                                   ------------  ------------  ------------

Charge-off Information (year to
 date):
  Average loans                    $    486,354  $    462,500  $    449,065
                                   ------------  ------------  ------------
  Net charge-offs (recoveries)     $        (40) $      2,232  $        364
                                   ------------  ------------  ------------
  Charge-offs as a % of average
   loans, annualized                        N/M%          .48%          .32%
                                   ------------  ------------  ------------



              MACKINAC FINANCIAL CORPORATION AND SUBSIDIARIES
                       QUARTERLY FINANCIAL HIGHLIGHTS

                 ----------------------------------------------------------
                                        QUARTER ENDED
                 ----------------------------------------------------------
                                         (Unaudited)
                 ----------------------------------------------------------
                  March 31,   December    September   June 30,    March 31,
                    2014      31, 2013    30, 2013      2013        2013
                 ----------  ----------  ----------  ----------  ----------
BALANCE SHEET
 (Dollars in
 thousands)

Total loans      $  485,862  $  483,832  $  472,495  $  455,555  $  454,051
Allowance for
 loan losses         (4,883)     (4,661)     (4,959)     (5,177)     (5,037)
                 ----------  ----------  ----------  ----------  ----------
Total loans, net    480,979     479,171     467,536     450,378     449,014
  Total assets      583,592     572,800     567,917     553,501     541,896
Core deposits       384,846     375,593     375,166     357,935     362,911
Noncore deposits     90,864      90,706      86,522      89,972      62,325
                 ----------  ----------  ----------  ----------  ----------
  Total deposits    475,710     466,299     461,688     447,907     425,236
Total borrowings     38,852      37,852      35,852      35,925      40,925
Common
 shareholders'
 equity              65,730      65,249      63,045      62,520      62,039
Total
 shareholders'
 equity              65,730      65,249      67,045      66,520      73,039
Total shares
 outstanding      5,527,690   5,541,390   5,581,339   5,554,459   5,557,859
Weighted average
 shares
 outstanding      5,530,908   5,555,952   5,562,835   5,556,133   5,559,859

AVERAGE BALANCES
 (Dollars in
 thousands)

Assets           $  580,717  $  569,443  $  560,089  $  548,455  $  541,279
Loans               486,354     479,321     464,324     456,937     449,065
Deposits            473,951     461,630     456,191     439,780     429,174
Common Equity        65,462      62,950      62,134      62,483      61,238
Equity               65,462      66,906      66,134      67,483      72,238

INCOME STATEMENT
 (Dollars in
 thousands)

Net interest
 income          $    5,593  $    5,626  $    5,348  $    5,269  $    5,156
Provision for
 loan losses            183         825         375         100         375
                 ----------  ----------  ----------  ----------  ----------
  Net interest
   income after
   provision          5,410       4,801       4,973       5,169       4,781
Total noninterest
 income                 691       1,191         738       1,251         758
Total noninterest
 expense              5,107       4,935       4,359       4,523       4,311
                 ----------  ----------  ----------  ----------  ----------
Income before
 taxes                  994       1,057       1,352       1,897       1,228
Provision for
 income taxes           334      (1,911)        456         637         415
                 ----------  ----------  ----------  ----------  ----------
  Net income            660       2,968         896       1,260         813
                 ----------  ----------  ----------  ----------  ----------
Preferred
 dividend expense         -          58          50          63         137
                 ----------  ----------  ----------  ----------  ----------
Net income
 available to
 common
 shareholders    $      660  $    2,910  $      846  $    1,197  $      676
                 ==========  ==========  ==========  ==========  ==========

PER SHARE DATA

Earnings         $      .12  $      .52  $      .15  $      .22  $      .12
Book value per
 common share         11.89       11.77       11.30       11.26       11.16
Market value,
 closing price        12.54        9.90        9.10        8.88        9.21

ASSET QUALITY
 RATIOS

Nonperforming
 loans/total
 loans                  .31%        .42%        .91%        .87%        .84%
Nonperforming
 assets/total
 assets                 .63         .68        1.21        1.17        1.41
Allowance for
 loan
 losses/total
 loans                 1.01         .96        1.09        1.14        1.11
Allowance for
 loan
 losses/nonperfor
 ming loans          327.50      230.29      114.98      129.98      131.41
Texas ratio (1)        5.18        5.59        9.56        9.02        9.81

PROFITABILITY
 RATIOS

Return on average
 assets                 .46%       2.03%        .60%        .88%        .51%
Return on average
 common equity         4.09       18.34        5.40        7.69        4.47
Return on average
 equity                4.09       17.26        5.08        7.12        3.79
Net interest
 margin                4.25        4.24        4.12        4.16        4.18
Efficiency ratio      80.57       66.94       70.64       68.02       72.65
Average
 loans/average
 deposits            102.62      103.83      101.78      103.90      104.63

CAPITAL ADEQUACY
 RATIOS

Tier 1 leverage
 ratio                10.25%      10.31%      10.90%      11.01%      12.23%
Tier 1 capital to
 risk weighted
 assets               11.79       11.83       12.45       12.74       13.98
Total capital to
 risk weighted
 assets               12.79       12.79       13.47       13.85       15.06
Average
 equity/average
 assets (for the
 quarter)             11.27       11.75       11.81       12.30       13.35
Tangible
 equity/tangible
 assets (at
 quarter end)         11.26       11.75       11.81       12.30       13.35

(1)Texas ratio equals nonperforming assets divided by shareholders' equity plus allowance for loan losses

Contact:
Ernie R. Krueger
(906)341-7158
Website: www.bankmbank.com

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As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory? In her Day 2 Keynote at @DevOpsSummit at 21st Cloud Expo, Aruna Ravichandran, VP, DevOps Solutions Marketing, CA Technologies, was jo...
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, provided some practical insights on what, how and why when implementing "software-defined" in the datacent...
Blockchain. A day doesn’t seem to go by without seeing articles and discussions about the technology. According to PwC executive Seamus Cushley, approximately $1.4B has been invested in blockchain just last year. In Gartner’s recent hype cycle for emerging technologies, blockchain is approaching the peak. It is considered by Gartner as one of the ‘Key platform-enabling technologies to track.’ While there is a lot of ‘hype vs reality’ discussions going on, there is no arguing that blockchain is b...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, discussed the b...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
Is advanced scheduling in Kubernetes achievable?Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, answered these questions and demonstrated techniques for implementing advanced scheduling. For example, using spot instances and co...
The use of containers by developers -- and now increasingly IT operators -- has grown from infatuation to deep and abiding love. But as with any long-term affair, the honeymoon soon leads to needing to live well together ... and maybe even getting some relationship help along the way. And so it goes with container orchestration and automation solutions, which are rapidly emerging as the means to maintain the bliss between rapid container adoption and broad container use among multiple cloud host...
The cloud era has reached the stage where it is no longer a question of whether a company should migrate, but when. Enterprises have embraced the outsourcing of where their various applications are stored and who manages them, saving significant investment along the way. Plus, the cloud has become a defining competitive edge. Companies that fail to successfully adapt risk failure. The media, of course, continues to extol the virtues of the cloud, including how easy it is to get there. Migrating...
Imagine if you will, a retail floor so densely packed with sensors that they can pick up the movements of insects scurrying across a store aisle. Or a component of a piece of factory equipment so well-instrumented that its digital twin provides resolution down to the micrometer.
The need for greater agility and scalability necessitated the digital transformation in the form of following equation: monolithic to microservices to serverless architecture (FaaS). To keep up with the cut-throat competition, the organisations need to update their technology stack to make software development their differentiating factor. Thus microservices architecture emerged as a potential method to provide development teams with greater flexibility and other advantages, such as the abili...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.