Mackinac Financial in Manistique, Mich., has promoted an executive from its bank to become its next chief financial officer.

The $729 million-asset company said in a press release Wednesday that Jesse Deering will succeed Ernie Krueger, who is retiring at the end of July. Deering, who joined Mackinac in 2005, is managing director of retail branch banking and marketing at the company's mBank.

Krueger, who joined Mackinac in 2003, will remain with the company as a consultant. 

Deering "has been a colleague for many years and understands the interworking of our company and culture very well," Paul Tobias, Mackinac's chairman and chief executive, said in the release. "We are excited to get him into his new role and working with the rest of the executive team to continue moving the company forward."

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