Independent Bank Corp. & HCB Merger Receives Regulatory Approvals; Expected July 1

Independent Bank Corporation and HCB Financial Corp. announced that their proposed merger has received approvals from the Federal Reserve Bank of Chicago and the Michigan Department of Insurance and Financial Services. HCB shareholders are scheduled to vote on the merger agreement on June 17, 2026. Assuming shareholder approval and other closing conditions, the merger is expected to be effective on July 1, 2026. Independent Bank Corp. has approximately $5.5 billion in assets, while HCB Financial Corp. has approximately $590 million in assets.