INDEPENDENT BANK CORP /MI/

Independent Bank Corporation (IBCP) announced that its proposed merger with HCB Financial Corp. (HCB) has received regulatory approvals from both the Federal Reserve Bank of Chicago and the Michigan Department of Insurance and Financial Services. The completion of the merger, initially announced on March 18, 2026, remains subject to HCB shareholder approval and other closing conditions. A meeting for HCB shareholders is scheduled for June 17, 2026, with the merger expected to be effective on July 1, 2026.

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.

Independent Bank Corp. announced the proposed acquisition of HCB Financial Corp., a strategic move expected to be ~6% accretive to 2027E EPS with a ~3.4-year tangible book value earnback. The acquisition will fortify IBCP's presence in Michigan and leverage HCB's low-cost funding base. For Q1 2026, IBCP reported net income of $16.9 million, or $0.81 per diluted share, with total loans increasing 3.0% annualized and net interest margin expanding to 3.65%.

Independent Bank Corporation held its Annual Meeting of Shareholders on April 21, 2026. Shareholders elected four directors to the Board, ratified the appointment of Crowe LLP as the independent registered public accounting firm for fiscal year 2026, and approved the advisory vote on executive compensation. Additionally, shareholders expressed a preference for an annual advisory vote on executive compensation.

INDEPENDENT BANK CORP reported strong first-quarter 2026 results with net income of $16.9 million, or $0.81 per diluted share. The company achieved a Return on Average Assets (ROAA) of 1.24% and a Return on Average Equity (ROAE) of 13.43%, driven by solid loan growth and prudent balance sheet management. Net interest income increased by $3.2 million year-over-year, and tangible book value per share grew 12.0% compared to the prior year quarter.

Independent Bank Corporation announced that it held its 2026 Annual Meeting of Shareholders on April 21, 2026. The company used a Shareholder Presentation during the meeting, which was subsequently furnished as Exhibit 99.1 to the Current Report on Form 8-K. This filing serves as a Regulation FD disclosure regarding the presentation.

Independent Bank Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.28 per share on its common stock. This dividend is scheduled to be paid on May 14, 2026, to shareholders who are on record as of May 4, 2026. The declaration of a regular cash dividend typically signals financial stability and a commitment to returning value to shareholders.