8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report: April 25, 2024

INDEPENDENT BANK CORPORATION

(Exact name of registrant as specified in its charter)

Michigan	0-7818	38-2032782
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

4200 East Beltline Grand Rapids, Michigan	49525
(Address of principal executive office)	(Zip Code)

Registrant’s telephone number,

including area code:

(616) 527-5820

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))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading symbol(s)	Name of each exchange on which registered
Common stock, no par value	IBCP	NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02.    Results of Operations and Financial Condition

On April 25, 2024, Independent Bank Corporation issued a press release announcing its financial results for the quarter ended March 31, 2024. A copy of the press release is attached as Exhibit 99.1. Attached Exhibit 99.2 contains supplemental data to that press release and attached Exhibit 99.3 contains a slide presentation for our earnings conference call.

The information in this Form 8-K and the attached Exhibits shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01.    Financial Statements and Exhibits

Exhibits.

99.1	Press release dated April 25, 2024.
99.2	Supplemental data to the Registrant’s press release dated April 25, 2024.
99.3	Earnings conference call presentation.

2

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 thereunto duly authorized.

		INDEPENDENT BANK CORPORATION
		(Registrant)
Date	4/25/2024	By	s/Gavin A. Mohr
		Gavin A. Mohr, Principal Financial Officer

3

EX-99.1

Exhibit 99.1

NEWS RELEASE

Independent Bank Corporation

4200 East Beltline

Grand Rapids, MI 49525

616.527.5820

For Release:	Immediately
Contact:	William B. Kessel, President and CEO, 616.447.3933 Gavin A. Mohr, Chief Financial Officer, 616.447.3929

INDEPENDENT BANK CORPORATION REPORTS 2024 FIRST QUARTER RESULTS

First Quarter Highlights

Highlights for the first quarter of 2024 include:

•Increases in net income and diluted earnings per share of 23.1% and 24.6%, respectively, over first quarter of 2023;

•An increase in tangible book value per share of $2.50 (15.7%) over the first quarter of 2023;

•Net growth in core deposits of $95.7 million (or 9.0% annualized) from December 31, 2023;

•Net growth in loans of $49.1 million (or 5.3% annualized) from December 31, 2023; and

•The payment of a 24 cent per share dividend on common stock on February 15, 2024.

GRAND RAPIDS, Mich., April 25, 2024 - Independent Bank Corporation (NASDAQ: IBCP) reported first quarter 2024 net income of $16.0 million, or $0.76 per diluted share, versus net income of $13.0 million, or $0.61 per diluted share, in the prior-year period.

William B. (“Brad”) Kessel, the President and Chief Executive Officer of Independent Bank Corporation, commented: “I am very pleased with our first quarter 2024 results, driving organic growth on both sides of the balance sheet with loans up 5.3% and core deposits up 9.0%. We were able to generate net interest margin expansion, increasing to 3.30% from 3.26% on a linked quarter basis and net interest income growth on both a linked quarter basis and on a year over year quarterly basis. Expenses continue to be well managed. Our credit metrics continue to be very good, with watch credits and non-performing assets near historic lows. These fundamentals drove good growth in both our earnings per share (23%) and tangible book value per share (16%) compared to the prior year quarter. Based on the past record of our core group of professionals and the on-going addition of talented bankers to our team, we are optimistic about continuing these positive growth trends for the balance of this year and into 2025.”

1

Significant items impacting comparable first quarter 2024 and 2023 results include the following:

•Changes in the fair value due to price of capitalized mortgage loan servicing rights (the “MSR Changes”) of  $1.3 million ($0.05 per diluted share, after taxes) for the three-month period ended March 31, 2024, as compared to $(0.6) million ($(0.02) per diluted share, after taxes) for the three-months ended March 31, 2023.

•The provision for credit losses was an expense of $0.7 million ($0.03 per diluted share, after taxes) in the first quarter ended March 31, 2024, as compared to an expense of $2.2 million ($0.08 per diluted share, after taxes) in the first quarter ended March 31, 2023.

Operating Results

The Company’s net interest income totaled $40.2 million during the first quarter of 2024, an increase of $1.8 million, or 4.6% from the year-ago period, and an increase of $0.1 million, or 0.2%, from the fourth quarter of 2023. The Company’s tax equivalent net interest income as a percent of average interest-earning assets (the “net interest margin”) was 3.30% during the first quarter of 2024, compared to 3.32% in the year-ago period, and 3.26% in the fourth quarter of 2023. The year-over-year quarterly increase in net interest income was due to an increase in average interest-earning assets that was partially offset by a decrease in net interest margin. The increase in net interest income compared to the linked quarter was due to an increase in the net interest margin that was partially offset by a decrease in average interest earning assets. Average interest-earning assets were $4.91 billion in the first quarter of 2024, compared to $4.70 billion in the year ago quarter and $4.93 billion in the fourth quarter of 2023.

Non-interest income totaled $12.6 million for the first quarter of 2024, compared to $10.6 million in the comparable prior year period. These changes were primarily due to variances in mortgage banking related revenues.

Net gains on mortgage loans in the first quarters of 2024 and 2023, were approximately $1.4 million and $1.3 million, respectively. The comparative quarterly increase in net gains on mortgage loans was primarily due to an increase in the gain on sale margin on mortgage loans sold that was partially offset by a decrease in the volume of mortgage loans sold.

Mortgage loan servicing, net, generated income of $2.7 million and $0.7 million in the first quarters of 2024 and 2023, respectively. The significant variance in mortgage loan servicing, net is primarily due to changes in the fair value of capitalized mortgage loan servicing rights associated with the magnitude of changes in mortgage loan interest rates and expected future prepayment levels between periods. Mortgage loan servicing, net activity is summarized in the following table:

	Three months ended
	3/31/2024		3/31/2023
	(In thousands)
Mortgage loan servicing, net:
Revenue, net	$	2,219	$	2,222
Fair value change due to price	1,265		(635)
Fair value change due to pay-downs	(759)		(861)
Total	$	2,725	$	726

Non-interest expenses totaled $32.2 million in the first quarter of 2024, compared to $31.0 million in the year-ago period.

The Company recorded income tax expense of $3.8 million in the first quarterof 2024. This compares to an income tax expense of $2.9 million in the first quarter of 2023. The changes in income tax expense principally reflect changes in pre-tax earnings in 2024 relative to 2023.

2

Asset Quality

A breakdown of non-performing loans by loan type is as follows:

	3/31/2024			12/31/2023			3/31/2023
Loan Type	(Dollars in thousands)
Commercial	$	25		$	28		$	36
Mortgage	4,620			6,425			5,536
Installment	710			970			644
Sub total	5,355			7,423			6,216
Less - government guaranteed loans	1,665			2,191			2,330
Total non-performing loans	$	3,690		$	5,232		$	3,886
Ratio of non-performing loans to total portfolio loans	0.10		%	0.14		%	0.11		%
Ratio of non-performing assets to total assets	0.09		%	0.11		%	0.09		%
Ratio of allowance for credit losses to total non-performing loans	1526.10		%	1044.69		%	1300.82		%

The provision for credit losses was an expense of $0.7 million and $2.2 million in the first quarters of 2024 and 2023, respectively. The quarterly change in the provision for credit losses in 2024 compared to 2023, is the result of a decrease in the provision on securities held to maturity that was partially offset by an increase in the provision on loans. We recorded loan net charge offs of $0.22 million and $1.05 million in the first quarters of 2024 and 2023, respectively. At March 31, 2024, the allowance for credit losses for loans totaled $56.3 million, or 1.47% of total portfolio loans compared to $54.7 million, or 1.44% of total portfolio loans at December 31, 2023.

Balance Sheet, Capital and Liquidity

Total assets were $5.23 billion at March 31, 2024, a decrease of $32.5 million from December 31, 2023. Loans, excluding loans held for sale, were $3.84 billion at March 31, 2024, compared to $3.79 billion at December 31, 2023.  Deposits totaled $4.58 billion at March 31, 2024, a decrease of $40.5 million from December 31, 2023. This decrease is primarily due to decreases in non-interest bearing and brokered time deposits that were partially offset by growth in savings and interest-bearing checking, reciprocal, and time deposits.

Cash and cash equivalents totaled $161.8 million at March 31, 2024, versus $169.8 million at December 31, 2023. Securities available for sale (“AFS”) totaled $613.6 million at March 31, 2024, versus $679.4 million at December 31, 2023.

Total shareholders’ equity was $415.6 million at March 31, 2024, or 7.94% of total assets compared to $404.4 million or 7.68% at December 31, 2023. Tangible common equity totaled $385.4 million at March 31, 2024, or $18.44 per share compared to $374.1 million or $17.96 per share at December 31, 2023. The increase in shareholder equity as well as tangible common equity are primarily the result of earnings retention.

The Company’s wholly owned subsidiary, Independent Bank, remains significantly above “well capitalized” for regulatory purposes with the following ratios:

Regulatory Capital Ratios	3/31/2024		12/31/2023		Well Capitalized Minimum
Tier 1 capital to average total assets	9.05	%	8.80	%	5.00	%
Tier 1 common equity  to risk-weighted assets	11.37	%	11.21	%	6.50	%
Tier 1 capital to risk-weighted assets	11.37	%	11.21	%	8.00	%
Total capital to risk-weighted assets	12.62	%	12.46	%	10.00	%

At March 31, 2024, in addition to liquidity available from our normal operating, funding, and investing activities, we had unused credit lines with the FHLB and FRB of approximately $1.072 billion and $496.0 million, respectively. We also had approximately $811.3 million in fair value of unpledged securities AFS and HTM at March 31, 2024 which could be pledged for an estimated additional borrowing capacity at the FHLB and FRB of approximately $754.9 million.

3

Share Repurchase Plan

On December 19, 2023, the Board of Directors of the Company authorized the 2024 share repurchase plan. Under the terms of the 2024 share repurchase plan, the Company is authorized to purchase up to 1,100,000 shares, or approximately 5% of its then outstanding common stock. The repurchase plan is authorized to last through December 31, 2024. The Company did not repurchase any shares of common stock during the first three months of 2024.

Earnings Conference Call

Brad Kessel, President and CEO, Gavin Mohr, CFO and Joel Rahn, EVP – Commercial Banking will review the quarterly results in a conference call for investors and analysts beginning at 11:00 am ET on Thursday, April 25, 2024.

To participate in the live conference call, please dial 1-833-470-1428 (Access Code # 206213). Also, the conference call will be accessible through an audio webcast with user-controlled slides via the following site/URL: https://events.q4inc.com/attendee/312593309.

A playback of the call can be accessed by dialing 1-866-813-9403 (Access Code # 265107). The replay will be available through May 3, 2024.

About Independent Bank Corporation

Independent Bank Corporation (NASDAQ: IBCP) is a Michigan-based bank holding company with total assets of approximately $5.2 billion. Founded as First National Bank of Ionia in 1864, Independent Bank Corporation operates a branch network across Michigan's Lower Peninsula through one state-chartered bank subsidiary. This subsidiary (Independent Bank) provides a full range of financial services, including commercial banking, mortgage lending, consumer banking, investments and insurance. Independent Bank Corporation is committed to providing exceptional personal service and value to its customers, stockholders and the communities it serves.

For more information, please visit our Web site at: IndependentBank.com.

Forward-Looking Statements

This presentation contains forward-looking statements, which are any statements or information that are not historical facts. These forward-looking statements include statements about our anticipated future revenue and expenses and our future plans and prospects.

Forward-looking statements involve inherent risks and uncertainties, and important factors could cause actual results to differ materially from those anticipated. For example, deterioration in general business and economic conditions or turbulence in domestic or global financial markets could adversely affect our revenues and the values of our assets and liabilities, reduce the availability of funding to us, lead to a tightening of credit, and increase stock price volatility. Our results could also be adversely affected by changes in interest rates; increases in unemployment rates; deterioration in the credit quality of our loan portfolios or in the value of the collateral securing those loans; deterioration in the value of our investment securities; legal and regulatory developments; changes in customer behavior and preferences; breaches in data security; and management’s ability to effectively manage the multitude of risks facing our business. Key risk factors that could affect our future results are described in more detail in our Annual Report on Form 10-K for the year ended December 31, 2023 and the other reports we file with the SEC, including under the heading “Risk Factors.” Investors should not place undue reliance on forward-looking statements as a prediction of our future results.

Any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.

4

INDEPENDENT BANK CORPORATION AND SUBSIDIARIES

Consolidated Statements of Financial Condition

	March 31, 2024		December 31, 2023
	(Unaudited)
	(In thousands, except share amounts)
Assets
Cash and due from banks	$	41,646	$	68,208
Interest bearing deposits	120,198		101,573
Cash and Cash Equivalents	161,844		169,781
Securities available for sale	613,620		679,350
Securities held to maturity (fair value of $311,013 at March 31, 2024 and $318,606 at December 31, 2023)	349,957		353,988
Federal Home Loan Bank and Federal Reserve Bank stock, at cost	16,821		16,821
Loans held for sale, carried at fair value	8,935		12,063
Loans
Commercial	1,735,284		1,679,731
Mortgage	1,490,441		1,485,872
Installment	614,240		625,298
Total Loans	3,839,965		3,790,901
Allowance for credit losses	(56,313)		(54,658)
Net Loans	3,783,652		3,736,243
Other real estate and repossessed assets, net	1,059		569
Property and equipment, net	34,587		35,523
Bank-owned life insurance	53,633		54,341
Capitalized mortgage loan servicing rights, carried at fair value	43,577		42,243
Other intangibles	1,875		2,004
Goodwill	28,300		28,300
Accrued income and other assets	133,395		132,500
Total Assets	$	5,231,255	$	5,263,726
Liabilities and Shareholders' Equity
Deposits
Non-interest bearing	$	1,034,605	$	1,076,093
Savings and interest-bearing checking	1,935,451		1,905,701
Reciprocal	893,643		832,020
Time	570,130		524,325
Brokered time	148,585		284,740
Total Deposits	4,582,414		4,622,879
Other borrowings	49,977		50,026
Subordinated debt	39,529		39,510
Subordinated debentures	39,745		39,728
Accrued expenses and other liabilities	104,020		107,134
Total Liabilities	4,815,685		4,859,277
Shareholders’ Equity
Preferred stock, no par value, 200,000 shares authorized; none issued or outstanding	—		—
Common stock, no par value, 500,000,000 shares authorized; issued and outstanding: 20,903,677 shares at March 31, 2024 and 20,835,633 shares at December 31, 2023	317,099		317,483
Retained earnings	170,100		159,108
Accumulated other comprehensive loss	(71,629)		(72,142)
Total Shareholders’ Equity	415,570		404,449
Total Liabilities and Shareholders’ Equity	$	5,231,255	$	5,263,726

5

INDEPENDENT BANK CORPORATION AND SUBSIDIARIES

Consolidated Statements of Operations

	Three Months Ended
	March 31, 2024		December 31, 2023		March 31, 2023
	(Unaudited)
Interest Income	(In thousands, except per share amounts)
Interest and fees on loans	$	55,043	$	54,333	$	44,294
Interest on securities
Taxable	5,251		5,646		5,884
Tax-exempt	3,391		3,434		3,083
Other investments	1,441		1,948		675
Total Interest Income	65,126		65,361		53,936
Interest Expense
Deposits	22,810		23,111		13,760
Other borrowings and subordinated debt and debentures	2,119		2,139		1,735
Total Interest Expense	24,929		25,250		15,495
Net Interest Income	40,197		40,111		38,441
Provision for credit losses	744		(617)		2,160
Net Interest Income After Provision for Credit Losses	39,453		40,728		36,281
Non-interest Income
Interchange income	3,151		3,336		3,205
Service charges on deposit accounts	2,872		3,061		2,857
Net gains (losses) on assets
Mortgage loans	1,364		1,961		1,256
Securities available for sale	(269)		—		(222)
Mortgage loan servicing, net	2,725		(2,442)		726
Other	2,718		3,181		2,729
Total Non-interest Income	12,561		9,097		10,551
Non-interest Expense
Compensation and employee benefits	20,770		19,049		19,339
Data processing	3,255		2,909		2,991
Occupancy, net	2,074		1,933		2,159
Interchange expense	1,097		1,110		1,049
Furniture, fixtures and equipment	954		974		926
FDIC deposit insurance	782		796		783
Communications	615		535		668
Loan and collection	512		456		578
Advertising	491		879		495
Legal and professional	486		585		607
Costs (recoveries) related to unfunded lending commitments	(652)		348		(475)
Other	1,809		2,304		1,837
Total Non-interest Expense	32,193		31,878		30,957
Income Before Income Tax	19,821		17,947		15,875
Income tax expense	3,830		4,204		2,884
Net Income	$	15,991	$	13,743	$	12,991
Net Income Per Common Share
Basic	$	0.77	$	0.66	$	0.62
Diluted	$	0.76	$	0.65	$	0.61

6

INDEPENDENT BANK CORPORATION AND SUBSIDIARIES

Selected Financial Data

	March 31, 2024			December 31, 2023			September 30, 2023			June 30, 2023			March 31, 2023
	(unaudited)
	(Dollars in thousands except per share data)
Three Months Ended
Net interest income	$	40,197		$	40,111		$	39,427		$	38,350		$	38,441
Provision for credit losses	744			(617)			1,350			3,317			2,160
Non-interest income	12,561			9,097			15,611			15,417			10,551
Non-interest expense	32,193			31,878			32,036			32,248			30,957
Income before income tax	19,821			17,947			21,652			18,202			15,875
Income tax expense	3,830			4,204			4,109			3,412			2,884
Net income	$	15,991		$	13,743		$	17,543		$	14,790		$	12,991
Basic earnings per share	$	0.77		$	0.66		$	0.84		$	0.70		$	0.62
Diluted earnings per share	0.76			0.65			0.83			0.70			0.61
Cash dividend per share	0.24			0.23			0.23			0.23			0.23
Average shares outstanding	20,877,067			20,840,680			20,922,431			21,040,349			21,103,831
Average diluted shares outstanding	21,079,607			21,049,030			21,114,445			21,222,535			21,296,980
Performance Ratios
Return on average assets	1.24		%	1.04		%	1.34		%	1.18		%	1.06		%
Return on average equity	15.95			14.36			18.68			16.29			14.77
Efficiency ratio (1)	60.26			64.27			57.52			59.26			62.07
As a Percent of Average Interest-Earning Assets (1)
Interest income	5.34		%	5.29		%	5.10		%	4.89		%	4.66		%
Interest expense	2.04			2.03			1.87			1.65			1.34
Net interest income	3.30			3.26			3.23			3.24			3.32
Average Balances
Loans	$	3,810,526		$	3,764,752		$	3,694,534		$	3,567,920		$	3,494,169
Securities	999,140			1,027,240			1,071,211			1,111,670			1,146,075
Total earning assets	4,910,669			4,928,697			4,892,208			4,763,295			4,696,786
Total assets	5,201,452			5,233,666			5,192,114			5,044,746			4,988,440
Deposits	4,561,645			4,612,797			4,577,796			4,447,843			4,417,106
Interest bearing liabilities	3,627,446			3,635,771			3,554,179			3,415,621			3,304,868
Shareholders' equity	403,225			379,614			372,667			364,143			356,720

(1)Presented on a fully tax equivalent basis assuming a marginal tax rate of 21%.

INDEPENDENT BANK CORPORATION AND SUBSIDIARIES

Selected Financial Data (continued)

	March 31, 2024			December 31, 2023			September 30, 2023			June 30, 2023			March 31, 2023
	(unaudited)
	(Dollars in thousands except per share data)
End of Period
Capital
Tangible common equity ratio	7.41		%	7.15		%	6.67		%	6.75		%	6.60		%
Tangible common equity ratio excluding accumulated other comprehensive loss	8.57			8.31			8.20			8.09			7.95
Average equity to average assets	7.75			7.25			7.18			7.22			7.15
Total capital to risk-weighted assets (2)	13.85			13.71			13.58			13.66			13.80
Tier 1 capital to risk-weighted assets (2)	11.65			11.50			11.37			11.42			11.53
Common equity tier 1 capital to risk-weighted assets (2)	10.73			10.58			10.44			10.46			10.55
Tier 1 capital to average assets (2)	9.29			9.03			8.94			8.97			8.92
Common shareholders' equity per share of common stock	$	19.88		$	19.41		$	17.99		$	17.91		$	17.40
Tangible common equity per share of common stock	18.44			17.96			16.53			16.45			15.94
Total shares outstanding	20,903,677			20,835,633			20,850,455			20,943,694			21,138,303
Selected Balances
Loans	$	3,839,965		$	3,790,901		$	3,741,486		$	3,631,114		$	3,509,809
Securities	963,577			1,033,338			1,043,540			1,092,703			1,137,103
Total earning assets	4,949,496			4,954,696			4,884,720			4,830,185			4,860,696
Total assets	5,231,255			5,263,726			5,200,018			5,135,564			5,138,934
Deposits	4,582,414			4,622,879			4,585,612			4,487,636			4,544,749
Interest bearing liabilities	3,677,060			3,676,050			3,573,187			3,501,280			3,481,511
Shareholders' equity	415,570			404,449			374,998			375,162			367,714

(2)March 31, 2024 are Preliminary.

7

Reconciliation of Non-GAAP Financial Measures

Independent Bank Corporation

Independent Bank Corporation believes non-GAAP measures are meaningful because they reflect adjustments commonly made by management, investors, regulators and analysts to evaluate the adequacy of common equity and performance trends.  Tangible common equity is used by the Company to measure the quality of capital.

Reconciliation of Non-GAAP Financial Measures

		Three Months Ended March 31,
		2024			2023
	(Dollars in thousands)
Net Interest Margin, Fully Taxable Equivalent ("FTE")
Net interest income		$	40,197		$	38,441
Add:  taxable equivalent adjustment		180			288
Net interest income - taxable equivalent		$	40,377		$	38,729
Net interest margin (GAAP) (1)		3.28		%	3.29		%
Net interest margin (FTE) (1)		3.30		%	3.32		%

(1)Annualized.

8

Tangible Common Equity Ratio

	March 31, 2024			December 31, 2023			September 30, 2023			June 30, 2023			March 31, 2023
	(Dollars in thousands)
Common shareholders' equity	$	415,570		$	404,449		$	374,998		$	375,162		$	367,714
Less:
Goodwill	28,300			28,300			28,300			28,300			28,300
Other intangibles	1,875			2,004			2,141			2,278			2,415
Tangible common equity	385,395			374,145			344,557			344,584			336,999
Addition:
Accumulated other comprehensive loss for regulatory purposes	65,831			66,344			86,507			74,712			75,013
Tangible common equity excluding other comprehensive loss adjustments	$	451,226		$	440,489		$	431,064		$	419,296		$	412,012
Total assets	$	5,231,255		$	5,263,726		$	5,200,018		$	5,135,564		$	5,138,934
Less:
Goodwill	28,300			28,300			28,300			28,300			28,300
Other intangibles	1,875			2,004			2,141			2,278			2,415
Tangible assets	5,201,080			5,233,422			5,169,577			5,104,986			5,108,219
Addition:
Net unrealized losses on available for sale securities and derivatives, net of tax	65,831			66,344			86,507			74,712			75,013
Tangible assets excluding other comprehensive loss adjustments	$	5,266,911		$	5,299,766		$	5,256,084		$	5,179,698		$	5,183,232
Common equity ratio	7.94		%	7.68		%	7.21		%	7.31		%	7.16		%
Tangible common equity ratio	7.41		%	7.15		%	6.67		%	6.75		%	6.60		%
Tangible common equity ratio excluding other comprehensive loss	8.57		%	8.31		%	8.20		%	8.09		%	7.95		%
Tangible Common Equity per Share of Common Stock:
Common shareholders' equity	$	415,570		$	404,449		$	374,998		$	375,162		$	367,714
Tangible common equity	$	385,395		$	374,145		$	344,557		$	344,584		$	336,999
Shares of common stock outstanding (in thousands)	20,904			20,836			20,850			20,944			21,138
Common shareholders' equity per share of common stock	$	19.88		$	19.41		$	17.99		$	17.91		$	17.40
Tangible common equity per share of common stock	$	18.44		$	17.96		$	16.53		$	16.45		$	15.94

The tangible common equity ratio removes the effect of goodwill and other intangible assets from capital and total assets.  Tangible common equity per share of common stock removes the effect of goodwill and other intangible assets from common shareholders’ equity per share of common stock.

9

EX-99.2

Exhibit 99.2

INDEPENDENT BANK CORPORATION AND SUBSIDIARIES

Supplemental Data

Non-performing assets

	March 31, 2024			December 31, 2023			September 30, 2023			June 30, 2023			March 31, 2023
	(Dollars in thousands)
Non-accrual loans	$	5,355		$	6,991		$	6,969		$	6,876		$	6,216
Loans 90 days or more past due and still accruing interest	—			432			—			—			—
Subtotal	5,355			7,423			6,969			6,876			6,216
Less:  Government guaranteed loans	1,665			2,191			2,254			2,882			2,330
Total non-performing loans	3,690			5,232			4,715			3,994			3,886
Other real estate and repossessed assets	1,060			569			443			658			499
Total non-performing assets	$	4,750		$	5,801		$	5,158		$	4,652		$	4,385
As a percent of Portfolio Loans
Non-performing loans	0.10		%	0.14		%	0.13		%	0.11		%	0.11		%
Allowance for credit losses	1.47			1.44			1.48			1.49			1.44
Non-performing assets to total assets	0.09			0.11			0.10			0.09			0.09
Allowance for credit losses as a percent of non-performing loans	1,526.10			1,044.69			1,176.99			1,351.13			1,300.82

Allowance for credit losses

	Three months ended March 31,
	2024							2023
	Loans			Securities		Unfunded Commitments		Loans			Securities		Unfunded Commitments
	(Dollars in thousands)
Balance at beginning of period	$	54,658		$	157	$	5,504	$	52,435		$	168	$	5,080
Additions (deductions)
Provision for credit losses	1,871			(1,127)		—		(832)			2,992		—
Recoveries credited to allowance	596			1,125		—		578			—		—
Assets charged against the allowance	(812)			—		—		(1,631)			(3,000)		—
Additions included in non-interest expense	—			—		(652)		—			—		(475)
Balance at end of period	$	56,313		$	155	$	4,852	$	50,550		$	160	$	4,605
Net loans charged (recovered) against the allowance to average Portfolio Loans	0.02		%					0.12		%

1

Capitalization

	March 31, 2024		December 31, 2023
	(In thousands)
Subordinated debt	$	39,529	$	39,510
Subordinated debentures	39,745		39,728
Amount not qualifying as regulatory capital	(753)		(734)
Amount qualifying as regulatory capital	78,521		78,504
Shareholders’ equity
Common stock	317,099		317,483
Retained earnings	170,100		159,108
Accumulated other comprehensive income (loss)	(71,629)		(72,142)
Total shareholders’ equity	415,570		404,449
Total capitalization	$	494,091	$	482,953

Non-Interest Income

	Three months ended
	March 31, 2024		December 31, 2023		March 31, 2023
	(In thousands)
Interchange income	$	3,151	$	3,336	$	3,205
Service charges on deposit accounts	2,872		3,061		2,857
Net gains (losses) on assets
Mortgage loans	1,364		1,961		1,256
Securities	(269)		—		(222)
Mortgage loan servicing, net	2,725		(2,442)		726
Investment and insurance commissions	804		1,010		827
Bank owned life insurance	181		141		111
Other	1,733		2,030		1,791
Total non-interest income	$	12,561	$	9,097	$	10,551

Capitalized Mortgage Loan Servicing Rights

	Three months ended March 31,
	2024		2023
	(In thousands)
Balance at beginning of period	$	42,243	$	42,489
Originated servicing rights capitalized	828		930
Change in fair value	506		(1,496)
Balance at end of period	$	43,577	$	41,923

2

Mortgage Loan Activity

	Three months ended
	March 31, 2024			December 31, 2023			March 31, 2023
	(Dollars in thousands)
Mortgage loans originated	$	93,994		$	108,011		$	113,021
Mortgage loans sold	80,818			86,473			106,846
Net gains on mortgage loans	1,364			1,961			1,256
Net gains as a percent of mortgage loans sold  ("Loan Sales Margin")	1.69		%	2.27		%	1.18		%
Fair value adjustments included in the Loan Sales Margin	0.44		%	0.69		%	1.20		%

Non-Interest Expense

	Three months ended
	March 31, 2024		December 31, 2023		March 31, 2023
	(In thousands)
Compensation	$	13,277	$	12,656	$	13,269
Performance-based compensation	3,476		2,644		2,245
Payroll taxes and employee benefits	4,017		3,749		3,825
Compensation and employee benefits	20,770		19,049		19,339
Data processing	3,255		2,909		2,991
Occupancy, net	2,074		1,933		2,159
Interchange expense	1,097		1,110		1,049
Furniture, fixtures and equipment	954		974		926
FDIC deposit insurance	782		796		783
Communications	615		535		668
Loan and collection	512		456		578
Advertising	491		879		495
Legal and professional	486		585		607
Amortization of intangible assets	129		137		137
Supplies	118		138		106
Correspondent bank service fees	46		55		63
Provision for loss reimbursement on sold loans	3		(1)		10
Net (gains) losses on other real estate and repossessed assets	(76)		1		(46)
Costs (recoveries) related to unfunded lending commitments	(652)		348		(475)
Other	1,589		1,974		1,567
Total non-interest expense	$	32,193	$	31,878	$	30,957

3

Average Balances and Tax Equivalent Rates

	Three Months Ended March 31,
	2024						2023
	Average Balance		Interest		Rate (2)		Average Balance		Interest		Rate (2)
	(Dollars in thousands)
Assets
Taxable loans	$	3,801,985	$	54,955	5.80	%	$	3,487,539	$	44,234	5.12	%
Tax-exempt loans (1)	8,541		111		5.23		6,630		76		4.65
Taxable securities	680,133		5,251		3.09		822,572		5,884		2.86
Tax-exempt securities (1)	319,007		3,548		4.45		323,503		3,355		4.15
Interest bearing cash	84,182		1,143		5.46		38,889		464		4.84
Other investments	16,821		298		7.13		17,653		211		4.85
Interest Earning Assets	4,910,669		65,306		5.34		4,696,786		54,224		4.67
Cash and due from banks	55,550						60,442
Other assets, net	235,233						231,212
Total Assets	$	5,201,452					$	4,988,440
Liabilities
Savings and interest-bearing checking	2,633,519		13,367		2.04		2,535,045		8,857		1.42
Time deposits	864,672		9,443		4.39		657,686		4,903		3.02
Other borrowings	129,255		2,119		6.59		112,137		1,735		6.27
Interest Bearing Liabilities	3,627,446		24,929		2.76	%	3,304,868		15,495		1.90
Non-interest bearing deposits	1,063,454						1,224,375
Other liabilities	107,327						102,477
Shareholders’ equity	403,225						356,720
Total liabilities and shareholders’ equity	$	5,201,452					$	4,988,440
Net Interest Income			$	40,377					$	38,729
Net Interest Income as a Percent of Average Interest Earning Assets					3.30	%					3.32	%

(1)	Interest on tax-exempt loans and securities is presented on a fully tax equivalent basis assuming a marginal tax rate of 21%.
(2)	Annualized

4

Commercial Loan Portfolio Analysis as of March 31, 2024

	Total Commercial Loans
			Watch Credits						Percent of Loan Category in Watch Credit
Loan Category	All Loans		Performing		Non-accrual		Total
	(Dollars in thousands)
Land	$	10,356	$	—	$	—	$	—	—	%
Land Development	16,784		—		—		—		—
Construction	135,236		—		—		—		—
Income Producing	593,286		4,285		—		4,285		0.7
Owner Occupied	490,023		14,418		—		14,418		2.9
Total Commercial Real Estate Loans	$	1,245,685	$	18,703	$	—	$	18,703	1.5
Other Commercial Loans	$	489,599	$	20,652	25		$	20,677	4.2
Total non-performing commercial loans					$	25

Commercial Loan Portfolio Analysis as of December 31, 2023

	Total Commercial Loans
			Watch Credits						Percent of Loan Category in Watch Credit
Loan Category	All Loans		Performing		Non-accrual		Total
	(Dollars in thousands)
Land	$	10,620	$	1	$	—	$	1	0.0	%
Land Development	17,966		—		—		—		—
Construction	101,178		—		—		—		—
Income Producing	625,927		4,177		—		4,177		0.7
Owner Occupied	449,287		15,165		—		15,165		3.4
Total Commercial Real Estate Loans	$	1,204,978	$	19,343	$	—	$	19,343	1.6
Other Commercial Loans	$	474,753	$	16,537	28		$	16,565	3.5
Total non-performing commercial loans					$	28

5

EX-99.3

Earnings Call: First Quarter 2024 April 25, 2024 (NASDAQ: IBCP)

Cautionary note regarding forward-looking statements This presentation contains forward-looking statements, which are any statements or information that are not historical facts. These forward-looking statements include statements about our anticipated future revenue and expenses and our future plans and prospects. Forward-looking statements involve inherent risks and uncertainties, and important factors could cause actual results to differ materially from those anticipated. For example, deterioration in general business and economic conditions or turbulence in domestic or global financial markets could adversely affect our revenues and the values of our assets and liabilities, reduce the availability of funding to us, lead to a tightening of credit, and increase stock price volatility. Our results could also be adversely affected by changes in interest rates; increases in unemployment rates; deterioration in the credit quality of our loan portfolios or in the value of the collateral securing those loans; deterioration in the value of our investment securities; legal and regulatory developments; changes in customer behavior and preferences; breaches in data security; and management’s ability to effectively manage the multitude of risks facing our business. Key risk factors that could affect our future results are described in more detail in our Annual Report on Form 10-K for the year ended December 31, 2023 and the other reports we file with the SEC, including under the heading “Risk Factors.” Investors should not place undue reliance on forward-looking statements as a prediction of our future results. Any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise. 2 2

• Formal Remarks − William B. (Brad) Kessel President and Chief Executive Officer − Gavin A. Mohr Executive Vice President and Chief Financial Officer − Joel F. Rahn Executive Vice President – Commercial Banking • Question and Answer session • Closing Remarks Note: This presentation is available at www.IndependentBank.com in the Investor Relations area under the “Presentations” tab. Agenda 3

1Q24 Overview • Total loans increased 5.3% annualized while maintaining conservative approach to new loan production • New loan production continues to be largely focused on new commercial clients that bring deposits to the bank • Asset quality remained exceptional with NPAs/Total Assets at 0.09% and NCO of 0.02% of average loans in the quarter • Core deposit growth of $95.7 million (excluding brokered deposits) • Brokered deposit balances decreased $136.2 million • Continued rotation into higher yielding assets contributed to net interest margin increasing to 3.30% • Continued high level of profitability with ROAA of 1.24% • Achieved growth in all capital ratios for the quarter • Tangible book value per share increased 2.7% from end of prior quarter • Balance sheet liquidity remains strong with loan-to-deposit ratio of 84% • Net income of $16.0 million, or $0.76 per diluted share • Increases in net income and diluted earnings per share of 23.1% and 24.6% respectively over, prior year quarter • Strong profitability and prudent balance sheet management results in further growth in tangible book value per share Healthy Capital & Liquidity Positions Positive Trends in Key Metrics Solid Loan Growth and Strong Asset Quality 1Q’24 Earnings 4 4

$ 4 .1 $ 4 .2 $ 4 .3 $ 4 .3 $ 4 .4 $ 4 .5 $ 4 .5 $ 4 .6 $ 4 .6 $ 4 .6 0 .0 9 % 0 .0 7 % 0 .1 1 % 0 .3 3 % 0 .7 8 % 1 .2 6 % 1 .5 7 % 1 .8 0 % 2 .1 7 % 2 .1 9 % Q 4 '2 1 Q 1 '2 2 Q 2 '2 2 Q 3 '2 2 Q 4 '2 2 Q 1 '2 3 Q 2 '2 3 Q 3 '2 3 Q 4 '2 3 Q 1 '2 4 Total Deposits Cost Of Deposits Non-interest Bearing 23% Savings and Interest- bearing Checking 42% Reciprocal 20% Time 12% Brokered 3% Low-Cost Deposit Franchise Focused on Core Deposit Growth • Substantial core funding – $3.86 billion of non-maturity deposit accounts (84.3% of total deposits). • Core deposit increase of $95.7 million (9.0% annualized) in 1Q'24. • Time deposit increase of $45.8 (35.5% annualized) million in 1Q'24. • Total deposits decreased $40.5 million (-3.6%) since 12/31/23 with non-interest bearing down $41.5 million, savings and interest- bearing checking up $29.8 million, reciprocal up $61.6 million, time up $45.8 million and brokered time down $136.2 million. • Deposits by Customer Type: − Retail – 48.3% − Commercial – 35.3% − Municipal – 16.4% Deposit Composition 3/31/24 Cost of Deposits (%)/Total Deposits ($B) Core Deposits: 84.3% 5 $4.6B

0 .2 7 % 0 .2 7 % 0 .2 8 % 0 .3 3 % 0 .3 6 % 0 .4 2 % 0 .5 1 % 0 .6 0 % 0 .7 3 % 0 .8 2 % 0 .8 5 % 0 .8 5 % 0 .7 4 % 0 .6 3 % 0 .3 0 % 0 .2 3 % 0 .3 9 % 0 .1 4 % 0 .1 2 % 0 .1 1 % 0 .1 0 % 0 .1 0 % 0 .1 2 % 0 .3 3 % 0 .7 9 % 1 .2 5 % 1 .5 7 % 1 .8 0 % 1 .9 9 % 2 .0 1 % 0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 4,500,000 5,000,000 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% D e c -1 6 M a r- 1 7 J u n -1 7 S e p -1 7 D e c -1 7 M a r- 1 8 J u n -1 8 S e p -1 8 D e c -1 8 M a r- 1 9 J u n -1 9 S e p -1 9 D e c -1 9 M a r- 2 0 J u n -2 0 S e p -2 0 D e c -2 0 M a r- 2 1 J u n -2 1 S e p -2 1 D e c -2 1 M a r- 2 2 J u n -2 2 S e p -2 2 D e c -2 2 M a r- 2 3 J u n -2 3 S e p -2 3 D e c -2 3 M a r- 2 4 IB COF Fed Funds Spot Fed Effective Total Deposits Historic IBC Cost of Funds (excluding sub debt) vs. the Federal Funds Rate (with Deposit Balances) D e p o s it B a la n c e s ( $ i n t h o u s a n d s ) 6 F e d e ra l F u n d s R a te Account Type Cycle Beta Sav & Int-bearing chking 25.6% Reciprocal 69.7% Time 69.4% Total int-bearing Dep (excl brokered) 44.8% Total COF IBC (excl Sub Debt) 37.3%

Commercial 45% Mortgage 39% Installment 16% Held for Sale 0% $ 2 .9 $ 3 .0 $ 3 .3 $ 3 .4 $ 3 .4 $ 3 .5 $ 3 .6 $ 3 .7 $ 3 .8 $ 3 .8 4 .0 8 % 3 .8 2 % 4 .0 1 % 4 .3 9 % 4 .9 0 % 5 .0 7 % 5 .3 6 % 5 .5 3 % 5 .7 3 % 5 .8 0 % Q 4 '2 1 Q 1 '2 2 Q 2 '2 2 3 Q '2 2 4 Q '2 2 1 Q '2 3 2 Q '2 3 3 Q '2 3 4 Q '2 3 1 Q '2 4 Total Portfolio Loans Yield on Loans Diversified Loan Portfolio Focused on High Quality Growth • Portfolio loan changes in 1Q'24: − Commercial – increased $55.6 million. …Average new origination yield of 7.77% vs a 6.83% portfolio yield. − Mortgage – increased $4.6 million. …Average new origination yield of 7.15% vs a 4.73% portfolio yield. − Installment – decreased $11.1 million. …Average new origination yield of 8.09% vs a 5.57% portfolio yield. • Mortgage loan portfolio weighted average FICO of 748 and average balance of $184,763. • Installment weighted average FICO of 754 and average balance of $25,762. • Commercial loan rate mix: − 47% fixed / 53% variable. − Indices – 50% tied to Prime, 1% tied to a US Treasury rate and 49% tied to SOFR. • Mortgage loan (including HELOC) rate mix: − 60% fixed / 40% adjustable or variable. − 21% tied to Prime, 9% tied to a US Treasury rate and 70% tied to SOFR. Note: Portfolio loans exclude loans HFS. Loan Composition 03/31/24 Yield on Loans (%)/ Total Portfolio Loans ($B) 7 $3.8B

10% $174 8% $137 7% $129 7% $119 6% $99 6% $97 3% $53 3% $51 3% $49 $40 $40 $39 $37 $36 $83 $1,181MM Manufacturing Construction Retail Health Care and Social Assistance Hotel and Accomodations Real Estate Rental and Leasing Other Services (except Public Administration) Transportation Wholesale Arts, Entertainment, and Recreation Professional, Scientific, and Technical Services Food Service Misc Finance and Insurance Other Services 7.94%, Commercial Industrial, $140 6.35%, Retail, $112 5.39%, Construction, $95 5.05%, Office, $89 2.61%, Multifamily, $46 2.04%, 1-4 Family, $36 1.53%, Land, Vacant Land and Development, $27 0.59%, Special Purpose, $10 $554MM Concentrations within $1.7B Commercial Loan Portfolio C&I or Owner Occupied Loans by Industry as a % of Total Commercial Loans ($ in millions) Investor RE by Collateral Type as a % of Total Commercial Loans ($ in millions) Note: $1.1 billion, or 68.1% of the commercial loan portfolio is C&I or owner occupied, while $554 million, or 31.9% is investment real estate. The percentage concentrations are based on the entire commercial portfolio of $1.7 billion as of March 31, 2024 8

$4.8 $4.4 $7.2 $13.2 $2.3 $3.1 $1.9 $4.4 $4.9 $3.3 $7.1 0.2% 0.2% 0.3% 0.5% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.0% 0.2% 0.4% 0.6% 0.8% 1.0% 1.2% 1.4% $- $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 $14.0 2017 2018 2019 2020 2021 2022 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 30-89 Days PD 30-89 Days PD / Total Loans $1.6 $1.3 $1.9 $0.8 $0.2 $0.5 $0.5 $0.7 $0.4 $0.6 $1.1 $- $0.5 $1.0 $1.5 $2.0 2017 2018 2019 2020 2021 2022 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 $ 8 .2 $ 8 .6 $ 9 .5 $ 7 .9 $ 5 .1 $ 3 .7 $ 3 .9 $ 4 .0 5 .2 $ 5 .2 $ 3 .7 $1.6 $1.3 $1.9 $0.8 $0.2 $0.5 $0.5 $0.7 $0.4 $0.6 $1.1 $- $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 2017 2018 2019 2020 2021 2022 Q1'23 Q2'23 Q3'23 Q4'23 1Q'24 Non-performing Loans 90+ Days PD ORE/ORA $8.2 $8.6 $9.5 $7.9 $5.1 $3.7 $3.9 $4.0 $4.7 $5.2 $3.7 0 .4 % 0 .3 % 0 .3 % 0 .3 % 0 .2 % 0 .1 % 0 .1 % 0 .1 % 0 .1 % 0 .1 % 0 .1 % -0.1% 0.1% 0.3% 0.5% 0.7% 0.9% $- $2.0 $4.0 $6.0 $8.0 $10.0 2017 2018 2019 2020 2021 2022 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Non-performing Loans (NPLs) NPLs / Total Loans Note 1: Non-performing loans and non-performing assets exclude troubled debt restructurings that are performing. Note 2: 12/31/16 30 to 89 days delinquent data excludes $1.63 million of payment plan receivables that were held for sale. Credit Quality Summary Non-performing Loans ($ in Millions) ORE/ORA ($ in Millions) 30 to 89 Days Delinquent ($ in Millions) Non-performing Assets ($ in Millions) 9

13.6 13.8 13.6 13.6 13.7 13.9 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 10.4 10.6 10.4 10.4 10.6 10.7 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 8.9 8.9 8.9 8.9 9.0 9.3 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 6.4 6.6 6.7 6.7 7.1 7.4 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 • Long-term capital Priorities: Capital retention to support organic growth, acquisitions and return of capital through strong and consistent dividends and share repurchases. • Well capitalized in all regulatory capital measurements. • Tangible common equity ratio excluding the impact of unrealized losses on securities AFS and HTM is 8.6% Strong Capital Position TCE / TA (%) Leverage Ratio (%) CET1 Ratio (%) Total RBC Ratio (%) 10

$ 3 2 .0 $ 3 1 .0 $ 3 0 .3 $ 3 1 .4 $ 3 3 .8 $ 3 4 .3 $ 3 3 .0 $ 3 6 .1 $ 3 9 .9 $ 4 0 .6 $ 3 8 .4 $ 3 8 .4 $ 3 9 .4 $ 4 0 .1 $ 4 0 .2 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 3.63 3.36 3.31 3.12 3.05 3.02 3.18 3.13 3.00 3.26 3.49 3.52 3.33 3.26 3.23 3.26 3.30 1.26 0.06 0.09 0.09 0.08 0.07 0.08 0.08 0.12 0.77 2.18 .65 4.38 4.99 5.26 5.33 5.33 0.63 0.30 0.23 0.39 0.14 0.12 0.11 0.10 0.10 0.12 0.45 0.92 1.39 1.72 1.93 2.11 2.11 0 1 2 3 4 5 6 Q 1 '2 0 Q 2 '2 0 Q 3 '2 0 Q 4 '2 0 Q 1 '2 1 Q 2 '2 1 Q 3 '2 1 Q 4 '2 1 Q 1 '2 2 Q 2 '2 2 Q 3 '2 2 Q 4 '2 2 Q 1 '2 3 Q 2 '2 3 Q 3 '2 3 Q 4 '2 3 Q 1 '2 4 Net Interest Margin (FTE) Average Effective FF Yield Cost of Funds Net Interest Margin/Income • Net interest income was $40.2 million in 1Q'24 compared to $38.4 million in the prior year quarter. An increase in average earning assets was partially offset by a decrease in the net interest margin. • Net interest margin was 3.30% during the first quarter of 2024, compared to 3.32% in the year- ago quarter and 3.26% in the fourth quarter of 2023. Yields, NIM and Cost of Funds (%) Net Interest Income ($ in Millions) 11

Q4'23 3.26% Change in earning asset mix 0.03% Increase in loan and investment yield 0.02% Change in funding mix 0.04% Increase in funding costs -0.05% Q1'24 3.30% 1Q24 4Q23 Change Avg Bal Inc/Exp Yield Avg Bal Inc/Exp Yield Avg Bal Inc/Exp Yield Cash $84,182 $1,143 5.46% $119,884 $1,647 5.45% ($35,702) ($504) 0.01% Investments 1,015,961 9,097 3.58% 1,044,061 9,539 3.65% (28,100) (442) -0.07% Commercial loans 1,694,938 29,358 6.97% 1,642,191 28,544 6.90% 52,747 814 0.08% Mortgage loans 1,498,042 17,949 4.79% 1,491,933 17,759 4.76% 6,109 190 0.04% Consumer loans 617,546 7,759 5.05% 630,628 8,050 5.06% (13,082) (291) -0.01% Earning assets $4,910,669 $65,306 5.34% $4,928,697 $65,539 5.29% ($18,028) ($233) 0.04% Nonmaturity deposits $2,633,519 $13,367 2.04% $2,603,044 $13,084 1.99% $30,475 283 0.06% CDARS deposits 112,723 1,235 4.41% 97,709 1,065 4.32% 15,014 170 0.08% Retail Time deposits 549,419 5,451 3.99% 506,534 4,880 3.82% 42,885 571 0.17% Brokered deposits 202,530 2,757 5.48% 299,248 4,082 5.41% (96,718) (1,325) 0.06% Bank borrowings 50,001 649 5.22% 50,018 659 5.23% (17) (10) -0.01% IBC debt 79,254 1,470 7.46% 79,218 1,480 7.41% 36 (10) 0.05% Cost of funds $3,627,446 $24,929 2.76% $3,635,771 $25,250 2.76% ($8,325) ($321) 0.01% Free funds $1,283,223 $1,292,926 ($9,703) Net interest income $40,377 $40,289 $88 Net interest margin 3.30% 3.26% 0.04% 1Q’24 NIM Changes Linked Quarter Average Balances and FTE Rates ($ in thousands) Linked Quarter Analysis 12

March 31, 2024 -200 -100 Base-rate 100 200 Net Interest Income $172,500 $172,700 $174,000 $173,300 $171,500 Change from Base -0.86% -0.75% -0.40% -1.44% December 31, 2023 -200 -100 Base-rate 100 200 Net Interest Income $167,800 $169,000 $169,500 $168,300 $166,000 Change from Base -1.00% -0.29% -0.71% -2.06% Interest Rate Risk Management • The increase in the base case modeled NII is due to a shift in the asset mix with an increase in loans and a decline in securities. The loan growth was centered in variable rate commercial loans. Additionally, a modest increase in term rates during the quarter increased modeled asset yields related to fixed rate lending products. • The NII sensitivity profile is largely unchanged during the quarter for smaller rate changes of +/- 100 basis points. The exposure to larger rising rate scenarios decreased modestly. Asset duration declined due to a shift in asset mix. Additionally, NII exposure to larger rate declines improved due to the addition of interest rate floors during the quarter. • Base-rate is a static balance sheet applying the spot yield curve from the valuation date. • Stable core funding base. Transaction accounts fund 37.4% of assets and other non-maturity deposits fund another 19.4% of assets. Moderate wholesale funding of just 5.3% of assets. • 33.0% of assets reprice in 1 month and 43.8% reprice in the next 12 months. • Continually evaluating strategies to manage NII through hedging as well as product pricing and structure. Changes in Net Interest Income (Dollars in 000’s) Simulation analyses calculate the change in net interest income over the next twelve months, under immediate parallel shifts in interest rates, based upon a static statement of financial condition, which includes derivative instruments, and does not consider loan fees. 13

$ 1 8 .9 $ 1 4 .6 $ 1 6 .9 $ 1 1 .5 $ 1 0 .5 $ 1 5 .4 $ 1 5 .6 $ 9 .1 $ 1 2 .6 3 5 .4 % 2 7 .6 % 2 7 .3 % 1 8 .4 % 1 6 .4 % 1 8 .4 % 2 0 .0 % 1 2 .2 % 1 9 .3 % -5.0 5.0 15.0 25.0 35.0 45.0 55.0 $- $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 $40.0 Q 1 '2 2 Q 2 '2 2 Q 3 '2 2 Q 4 '2 2 Q 1 '2 3 Q 2 '2 3 Q 3 '2 3 Q 4 '2 3 Q 1 '2 4 Non-interest Income Non-interest Inc/Operating Rev (%) Interchange income $3,151 Service Chg Dep $2,872 Gain (Loss)- Mortgage Sale $1,364 Gain (Loss)- Securities $(269) Mortgage loan servicing, net $2,725 Investment & insurance commissions $804 Bank owned life insurance $181 Other income $1,733 Strong Non-interest Income • The $2.0 million comparative quarterly increase in mortgage loan servicing, net is primarily attributed to changes in the fair value of capitalized mortgage loan servicing rights associated with changes in mortgage loan interest rates and expected future prepayment levels. • Mortgage banking: − $1.4 million in net gains on mortgage loans in 1Q'24 vs. $1.3 million in the year ago quarter. The increase is primarily due to higher profit margins on mortgage loan sales that were partially offset by lower loan sales volume. − $94.0 million in mortgage loan originations in 1Q'24 vs. $113.0 million in 1Q’23 and $108.0 million in 4Q’23. − 1Q'24 mortgage loan servicing includes a $1.3 million ($0.05 per diluted share, after tax) increase in fair value adjustment due to price compared to a decrease of $0.6 million ($0.02 per diluted share, after tax) in the year ago quarter. Source: Company documents. 1Q24 Non-interest Income (thousands) Non-interest Income Trends ($M) 14 $12.6M

6 4 .8 % 6 3 .1 % 6 1 .3 % 5 9 .8 % 6 0 .4 % 5 9 .6 % 5 9 .9 % 6 0 .7 % 6 0 .3 % 1 Q '2 2 2 Q '2 2 3 Q '2 2 4 Q '2 2 1 Q '2 3 2 Q '2 3 3 Q '2 3 4 Q '2 3 1 Q '2 4 $ 3 1 .5 $ 3 2 .4 $ 3 2 .4 $ 3 2 .1 $ 3 1 .0 $ 3 2 .2 $ 3 2 .0 $ 3 1 .9 $ 3 2 .2 $- $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 Q 1 '2 2 Q 2 '2 2 Q 3 '2 2 Q 4 '2 2 Q 1 '2 3 Q 2 '2 3 Q 3 '2 3 Q 4 '2 3 Q 1 '2 4 Compensation and Benefits Loan and Collection Occupancy Data Processing FDIC Insurance Other Total Focus on Improved Efficiency • 1Q'24 efficiency ratio of 60.3%. • Compensation and employee benefits expense of $20.8 million, an increase of $1.4 million from the prior year quarter. • $1.2 million increase in performance-based compensation expense due to a higher expected payout level in 2024. • Payroll taxes and employee benefits increased $0.2 million primarily due to a higher healthcare related costs. • Data processing costs increased by $0.3 million primarily due to core data processor annual asset growth and CPI related cost increases as well as the purchase of a new lending solution software. • Opportunities exist to gain additional efficiencies as we continue to optimize our delivery channels. Non-interest Expense ($M) Efficiency Ratio (4 quarter rolling average) Source: Company documents. 15

Outlook for 2024 Outlook for 2024 *as of January, 2024 • IBCP forecast of mid-single digit (approximately 6%-8%) overall loan growth is based on increases in commercial loans and mortgage loans with installment loans remaining flat. Expect much of this growth to occur in the first three quarters of 2024. • This growth forecast also assumes a stable Michigan economy. • The forecast assumes 0.25% Fed rate cuts in May, June, August and October in the federal funds rate while long-term interest rates decline slightly over year-end 2023 levels. • IBCP forecast of mid-single digit (6%-8%) growth is primarily supported by an increase in earning assets and a favorable shift in the earning asset base. Expect the net interest margin (NIM) to increase (0.10% - 0.15%) in 2024 compared to full-year 2023. Primary driver is an increase in earning asset yield that is partially offset by an increase in yield on interest bearing liabilities. • Very difficult area to forecast. Future provision levels under CECL will be particularly sensitive to loan growth and mix, projected economic conditions, watch credit levels and loan default volumes. • The allowance as a percentage of total loans was at 1.44% at 12/31/23 • A full year 2024 provision (expense) for credit losses of approximately 0.15%-0.25% of average total portfolio loans would not be unreasonable. 1Q'24 Update • Total portfolio loans increased $49.1 million (5.3% annualized) in 1Q'24. • Commercial loans and mortgage loans increased $55.6 million (13.4% annualized) and $4.6 million (1.3% annualized), respectively. Installment loans decreased $11.1 million (-7.2% annualized) in the first quarter. • 1Q'24 net interest income was $1.8 million (4.6%) higher than the prior year quarter. The net interest margin was 3.30% for the current quarter and 3.32% for the prior year quarter and up 0.04% from the linked quarter. • The $1.8 million increase in net interest income is due to a $213.9 million increase in average earning assets that was partially offset by a 0.02% decrease in the net interest margin. • The provision for credit losses was an expense of $0.7 million (0.07% annualized). The 1Q'24 provision expense was primarily the result of provision expense on loans that was partially offset by a credit provision on securities held to maturity. LENDING Continued growth NET INTEREST INCOME Growth driven primarily by higher average earning assets PROVISION FOR CREDIT LOSSES Steady asset quality metrics 16

Outlook for 2024 Outlook for 2024 *as of January, 2024 • IBCP forecasts 2024 quarterly range of $11.5M to $13.0M with the total for the year down 0.5% to 1.0% from 2023 actual of $50.7M • Expect mortgage loan origination volumes in 2024 to increase by approximately 7%, a decline in mortgage loan servicing net of approximately 19%, interchange income in 2024 to increase approximately 1.5% to 2.5% as compared to 2023, service charges on deposits to be collectively comparable to 2023 and other income to decline approximately 5%comparable to 2023 actuals. • IBCP forecasts 2024 quarterly range of $32.5M to $33.5M with the total for the year up 3.5% to 4.25% from the 2023 actual of $127.1M. • The primary driver is an increase in compensation and employee benefits, data processing, loan and collection and advertising. • Approximately a 20% effective income tax rate in 2024 This assumes a 21% statutory federal corporate income tax rate during 2024. • 2024 share repurchase authorization at approximately 5% (1.1 million) of outstanding shares. • Share repurchases will be dependent on capital levels, capital allocation options and share price trends. We are not modeling any share repurchases in 2024. 1Q'24 Update • Non-interest income totaled $12.6 million in 1Q'24, which is within the forecasted range. 1Q'24 mortgage loan originations, sales and gains totaled $94.0 million, $80.8 million and $1.4 million, respectively. • Mortgage loan servicing net, generated a gain of $2.7 million in 1Q'24. • Total non-interest expense was $32.2 million in the 1Q'24, which was below our forecasted range. • Actual effective income tax rate of 19.3% for the 1Q’24. • No shares were repurchased in the 1Q’24. NON-INTEREST INCOME NON-INTEREST EXPENSES INCOME TAXES SHARE REPURCHASES 17

Strategic Initiatives • Outside Sales - Relationship banking focus thru consistent calling on prospects and COI’s. • Inside Service/Sales – high retention + high cross sales, collaboration of strategic partners. • Digital Marketing - Leverage data insights, target strategically, elevate brand image, personalize the customer experience. • Leverage Referral Network – Fintech (ReferLive); • New Products – SMB deposit product, Business digital pmts. • Market Expansion – Through existing indirect dealer network. • Selective and opportunistic bank and branch acquisitions. • Process Automation – leverage core investments + Fintech partnerships: (Blend) mortgage; (Numerated) Commercial; • Branch Optimization - including assessing existing locations, new locations, service hours, staffing, & workflow and leveraging technology. • Promotion of Self-Serve Channels - (One Wallet, Treasury One, etc.) • Leverage Banker Capacity – including on-line appointment setting. • Leverage Middleware + API’s – expediate new technology implementation. • Optimize Office Space Utilization • Invest in our Team – competitive C&B offering, skill training, leadership development, etc. • High Employee Engagement – thru fostering a culture of purpose, opportunity, continuous learning, diversity, reward + recognition. • Promote Teamwork + Alignment across all business units. • Invest in technology - to enhance the employee experience + customer experience. • Client Service Model – well defined and applied. • Utilize three layers of defense (business unit, risk management and internal audit). Independent & collaborative approach. • Consistent earnings + maintain strong capital levels. • Proactive credit quality monitoring and problem resolution. • Manage Liquidity and IRR. • Manage Operational risk, emphasizing cyber security, fraud prevention, and regulatory compliance. • Effective relationships with regulators & other outside oversight parties. Proactive, transparent and good communication. PROCESS IMPROVEMENT & COST CONTROLS RISK MANAGEMENT GROWTH TALENT MANAGEMENT 18

Question and Answer Session Closing Remarks NASDAQ: IBCP Thank you for attending 19

Appendix Additional Financial Data and Non-GAAP Reconciliations 20

here Year Ended December 31, Quarter Ended, ($M except per share data) 2020 2021 2022 2023 3/31/23 6/30/23 9/30/23 12/31/23 3/31/24 Balance Sheet: Total Assets $4,204 $4,705 $5,000 $5,264 $5,139 $5,136 $5,200 $5,264 $5,231 Portfolio Loans $2,734 $2,905 $3,465 $3,791 $3,510 $3,631 $3,741 $3,791 $3,840 Deposits $3,637 $4,117 $4,379 $4,622 $4,545 $4,488 $4,586 $4,622 $4,582 Tangible Common Equity $357 $367 $317 $374 $317 $345 $345 $374 $385 Profitability: Pre-Tax, Pre-Provision Income $81.9 $75.4 $83.7 $79.9 $18.0 $21.5 $23.0 $17.3 $20.6 Pre-Tax, Pre-Prov / Avg. Assets 2.08% 1.69% 1.72% 1.56% 1.47% 1.71% 1.76% 1.31% 1.59% Net Income(1) $56.2 $62.9 $63.8 $59.1 $13.0 $14.8 $17.5 $13.7 $16.0 Diluted EPS $2.53 $2.88 $2.97 $2.79 $0.61 $0.70 $0.83 $0.65 $0.76 Return on Average Assets(1) 1.43% 1.41% 1.32% 1.15% 1.06% 1.18% 1.34% 1.04% 1.24% Return on Average Equity(1) 15.7% 16.1% 18.5% 16.0% 14.8% 16.3% 18.7% 14.4% 16.0% Net Interest Margin (FTE) 3.34% 3.10% 3.32% 3.26% 3.33% 3.26% 3.25% 3.26% 3.30% Efficiency Ratio 59.2% 62.9% 59.4% 60.8% 62.1% 59.3% 57.5% 64.3% 60.3% Asset Quality: NPAs / Assets 0.21% 0.11% 0.08% 0.11% 0.09% 0.09% 0.10% 0.11% 0.09% NPAs / Loans + OREO 0.32% 0.18% 0.12% 0.15% 0.12% 0.13% 0.14% 0.15% 0.12% ACL / Total Portfolio Loans 1.30% 1.63% 1.51% 1.44% 1.44% 1.49% 1.48% 1.44% 1.47% NCOs / Avg. Loans 0.11% (0.07%) 0.00% 0.01% 0.12% 0.00% 0.00% 0.01% 0.02% Capital Ratios: TCE Ratio 8.6% 7.9% 6.4% 7.2% 6.6% 6.7% 6.7% 7.2% 7.4% Leverage Ratio 9.2% 8.8% 8.8% 9.0% 8.9% 9.0% 8.9% 9.0% 9.3% Tier 1 Capital Ratio 13.3% 12.1% 11.4% 11.5% 11.5% 11.4% 11.4% 11.5% 11.7% Total Capital Ratio 16.0% 14.5% 13.7% 13.7% 13.8% 13.7% 13.6% 13.7% 13.9% Historical Financial Data 21

Year Ended December 31, ($M except per share data) 2018 2019 2020 2021 2022 2023 5 Year CAGR Balance Sheet: Total Assets $3,353 $3,565 $4,204 $4,705 $5,000 $5,264 9.4% Portfolio Loans $2,583 $2,725 $2,734 $2,905 $3,465 $3,791 8.0% Deposits $2,913 $3,037 $3,637 $4,117 $4,379 $4,623 9.7% Tangible Common Equity $304 $317 $357 $367 $317 $374 4.2% Profitability: Pre-Tax, Pre-Provision Income $50.6 $58.6 $81.9 $75.4 $83.1 $79.9 9.6% Pre-Tax, Pre-Prov / Avg. Assets 1.62% 1.70% 2.08% 1.69% 1.72% 1.56% - Net Income $39.8 $46.4 $56.2 $62.9 $63.4 $59.1 8.2% Diluted EPS $1.68 $2.00 $2.53 $2.88 $2.97 $2.79 10.7% Return on Average Assets 1.27% 1.35% 1.43% 1.41% 1.31% 1.15% - Return on Average Equity 12.38% 13.63% 15.68% 16.13% 18.41% 16.04% - Net Interest Margin (FTE) 3.88% 3.80% 3.34% 3.10% 3.32% 3.26% - Efficiency Ratio 67.20% 64.90% 59.24% 62.87% 59.71% 60.76% - Asset Quality: NPAs / Assets 0.29% 0.32% 0.21% 0.11% 0.08% 0.11% - NPAs / Loans + OREO 0.38% 0.42% 0.32% 0.18% 0.12% 0.15% - Reserves / Total Loans 0.96% 0.96% 1.30% 1.63% 1.51% 1.44% - NCOs / Avg. Loans (0.03%) (0.02%) 0.11% (0.07%) 0.00% 0.01% - Capital Ratios: TCE Ratio 9.2% 9.0% 8.6% 7.9% 6.4% 7.2% - Leverage Ratio 10.5% 10.1% 9.2% 8.8% 8.8% 9.1% - Tier 1 Capital Ratio 13.3% 12.7% 13.3% 12.2% 11.4% 11.6% - Total Capital Ratio 14.3% 13.7% 16.0% 14.7% 13.7% 13.8% - Shareholder Value: TBV/Share $ 12.90 $ 14.08 $ 16.33 $ 17.33 $ 15.04 $ 17.96 6.8% Dividends Paid per Share $ 0.60 $ 0.72 $ 0.80 $ 0.84 $ 0.88 $ 0.92 8.9% Value of Shares Repurchased $ 12.68 $ 26.3 $ 14.2 $ 17.3 $ 4.0 $ 5.2 - 22 Historic Financial Performance

Note: Portfolio loans exclude loans HFS. Liquidity / Uninsured Deposits Strong Liquidity Position • Significant liquidity position to manage the current environment. • Total available liquidity significantly exceeds (238%) estimated uninsured deposit balances. • Attractive loan to deposit ratio of 83.8%. • Uninsured deposit to total deposits of approximately 22.0%, excluding brokered time deposits. Sources of Liquidity 23 80% 98% 85% 73% 79% 74% 218% 237% 240% 222% 237% 238% 4Q22 1Q23 2Q23 3Q23 4Q23 1Q'24 On-balance sheet / Uninsured Deposits Available Sources / Uninsured Deposits Sources of Liquidity 1Q 2024 Current On-balance sheet Excess reserves at the Fed $ 120.2 Unpledged AFS Securities $ 599.9 Total On-balance sheet $ 720.1 On balance sheet liquidity to total deposits 16% Available Sources of Liquidity Unused FHLB & FRB (including BTFP) $ 1,567.8 Borrow capacity on unpledged bonds $ 754.9 Total Available Sources $ 2,322.7 Sources of Liquidity to total deposits 51%

$1,946 $1,010 $500 $236 $223 $520 $234 $2,169 $1,530 $734 $149 Consumer Commercial Public Funds Brokered Insured Deposits Uninsured Deposits $ 3 ,3 0 0 $ 3 ,4 0 3 $ 3 ,5 8 0 $ 3 ,5 7 0 $ 3 ,5 7 5 $ 3 ,6 6 1 $ 3 ,6 0 5 $ 1 ,0 2 7 $ 9 7 6 $ 9 6 5 $ 9 1 8 $ 1 ,0 1 1 $ 9 6 2 $ 9 7 7 $4,327 $4,379 $4,545 $4,488 $4,586 $4,623 $4,582 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 Insured Deposits Uninsured Deposits Granular Deposit Base • Average deposit account balance of approximately $20,908. • Average deposit balance excluding reciprocal deposit of $16,766. • Average Commercial deposit balance of $94,485. • Average retail deposit balance of $11,172. • 10 largest deposit accounts total $344.0 million or 7.51% of total deposits. − $270.4 million in ICS with FDIC coverage. • 100 largest deposit accounts total $973.8 million or 21.25% of total deposits. − $615.8 million in ICS with FDIC coverage. Note: Uninsured deposit calculation is an approximation. Uninsured Deposit by Segment (3/31/24) Uninsured Deposit Trend ($MM) 24

$19 $70 22% 78% CRE – Office Metrics • 24.5% of portfolio is medical office buildings. • 79% of portfolio is in suburban geographies. • 77.1% of CRE – Office mature after 2026. • Average loan size of $1.2 million. Maturing Exposure (millions) CRE - Office Fixed vs. Variable Geographic Location (millions) 25 Urban Suburban Fixed Variable $6.4 $4.6 $9.4 $68.5 M a tu ri n g 2 0 2 4 M a tu ri n g 2 0 2 5 M a tu ri n g 2 0 2 6 M a tu ri n g 2 0 2 7 & A ft e r

Non-GAAP to GAAP Reconciliation 26 Reconciliation of Non-GAAP Financial Measures Adjusted Income Statement Results (non-GAAP) March 31, December 31, September 30, June 30, March 31, 2023 2022 2021 2020 2024 2023 2023 2023 2023 (Dollars in thousands) Net interest income $156,329 $149,561 $129,765 $123,612 $40,197 $40,111 $39,427 $38,350 $38,441 Non-interest income 50,676 61,909 76,643 80,745 12,561 9,097 15,611 15,417 10,551 Non-interest expense 127,119 128,341 131,023 122,413 32,193 31,878 32,036 32,248 30,957 Pre-Tax, Pre-Provision Income 79,886 83,129 75,385 81,944 20,565 17,330 23,002 21,519 18,035 Provision for credit losses 6,210 5,341 (1,928) 12,463 744 (617) 1,350 3,317 2,160 Income tax expense 14,609 14,437 14,418 13,329 3,830 4,204 4,109 3,412 2,884 Net income $59,067 $63,351 $62,895 $56,152 $15,991 $13,743 $17,543 $14,790 $12,991 Average total assets $5,115,624 $4,825,723 $4,465,577 $3,933,655 $5,201,452 $5,233,666 $5,192,114 $5,044,746 $4,988,440 Performance Ratios Return on average assets 1.15% 1.31% 1.41% 1.43% 1.24% 1.04% 1.34% 1.18% 1.06% Pre-tax, Provision return on average assets 1.56% 1.72% 1.69% 2.08% 1.59% 1.31% 1.76% 1.71% 1.47% Year Ended December 31, Quarter Ended

Reconciliation of Non-GAAP Financial Measures 27 Reconciliation of Non-GAAP Financial Measures 2024 2023 Net Interest Margin, Fully Taxable Equivalent ("FTE") Net interest income $40,197 $38,441 Add: taxable equivalent adjustment 180 288 Net interest income - taxable equivalent $40,377 $38,729 Net interest margin (GAAP) (1) 3.28% 3.29% Net interest margin (FTE) (1) 3.30% 3.32% (1) Quarter to date are annualized. Three Months Ended March 31, (Dollars in thousands)

Reconciliation of Non-GAAP Financial Measures (continued) 28 Reconciliation of Non-GAAP Financial Measures (continued) Independent Bank Corporation Tangible Common Equity Ratio March 31, December 31, September 30, June 30, March 31, 2023 2022 2021 2020 2024 2023 2023 2023 2023 Common shareholders' equity 404,449$ 347,596$ 398,484$ 389,522$ 415,570$ 404,449$ 374,998$ 375,162$ 367,714$ Less: Goodwill 28,300 28,300 28,300 28,300 28,300 28,300 28,300 28,300 28,300 Other intangibles 2,004 2,551 3,336 4,306 1,875 2,004 2,141 2,278 2,415 Tangible common equity 374,145$ 316,745$ 366,848$ 356,916$ 385,395$ 374,145$ 344,557$ 344,584$ 336,999$ Total assets $ 5,263,726 $ 4,999,787 $ 4,704,740 $ 4,204,013 $ 5,231,255 $ 5,263,726 $ 5,200,018 $ 5,135,564 $ 5,138,934 Less: Goodwill 28,300 28,300 28,300 28,300 28,300 28,300 28,300 28,300 28,300 Other intangibles 2,004 2,551 3,336 4,306 1,875 2,004 2,141 2,278 2,415 Tangible assets $ 5,233,422 $ 4,968,936 $ 4,673,104 $ 4,171,407 $ 5,201,080 $ 5,233,422 $ 5,169,577 $ 5,104,986 $ 5,108,219 Common equity ratio 7.68% 6.95% 8.47% 9.27% 7.94% 7.68% 7.21% 7.31% 7.16% Tangible common equity ratio 7.15% 6.37% 7.85% 8.56% 7.41% 7.15% 6.67% 6.75% 6.60% Year Ended December 31, Quarter Ended (Dollars in thousands)

XML

Cover	Apr. 25, 2024
Cover [Abstract]
Document Type	8-K
Document Period End Date	Apr. 25, 2024
Entity Registrant Name	INDEPENDENT BANK CORPORATION
Entity Incorporation, State or Country Code	MI
Entity File Number	0-7818
Entity Tax Identification Number	38-2032782
Entity Address, Address Line One	4200 East Beltline
Entity Address, City or Town	Grand Rapids
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	49525
City Area Code	616
Local Phone Number	527-5820
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common stock, no par value
Trading Symbol	IBCP
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Central Index Key	0000039311