Exhibit 99.1
INDEPENDENT BANK CORPORATION2019 Annual Shareholders meeting April 23, 2019
Cautionary Note Regarding Forward-Looking Statements This presentation may contain “forward-looking
statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements that are not historical facts, including statements about our expectations, beliefs, plans, strategies, predictions, forecasts,
objectives, or assumptions of future events or performance, may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as “anticipates,” “believes,” “expects,” “can,” “could,” “may,”
“predicts,” “potential,” “opportunity,” “should,” “will,” “estimate,” “plans,” “projects,” “continuing,” “ongoing,” “expects,” “seeks,” “intends” and similar words or phrases. Accordingly, these statements involve estimates, known and unknown
risks, assumptions, and uncertainties that could cause actual strategies, actions, or results to differ materially from those expressed in them, and are not guarantees of timing, future results, events, or performance. Because forward-looking
statements are necessarily only estimates of future strategies, actions, or results, based on management’s current expectations, assumptions, and estimates on the date hereof, there can be no assurance that actual strategies, actions or
results will not differ materially from expectations. Therefore, readers are cautioned not to place undue reliance on such statements. Factors that could cause or contribute to such differences are changes in general economic, political or
industry conditions; changes in monetary and fiscal policies, including the interest rate policies of the Federal Reserve Board; volatility and disruptions in capital and credit markets; the interdependence of financial service companies;
changes in regulation or oversight; unfavorable developments concerning credit quality; any future acquisitions or divestitures; the effects of more stringent capital or liquidity requirements; declines or other changes in the businesses or
industries of Independent Bank Corporation's customers; the implementation of Independent Bank Corporation's strategies and business models; Independent Bank Corporation's ability to utilize technology to efficiently and effectively develop,
market and deliver new products and services; operational difficulties, failure of technology infrastructure or information security incidents; changes in the financial markets, including fluctuations in interest rates and their impact on
deposit pricing; competitive product and pricing pressures among financial institutions within Independent Bank Corporation's markets; changes in customer behavior; management's ability to maintain and expand customer relationships;
management's ability to retain key officers and employees; the impact of legal and regulatory proceedings or determinations; the effectiveness of methods of reducing risk exposures; the effects of terrorist activities and other hostilities;
the effects of catastrophic events; changes in accounting standards and the critical nature of Independent Bank Corporation's accounting policies. Certain risks and important factors that could affect Independent Bank Corporation's future
results are identified in its Annual Report on Form 10-K for the year ended December 31, 2018 and other reports filed with the SEC, including among other things under the heading “Risk Factors” in such Annual Report on Form 10-K. Any
forward-looking statement speaks only as of the date on which it is made, and Independent Bank Corporation undertakes no obligation to update any forward-looking statement, whether to reflect events or circumstances after the date on which
the statement is made, to reflect new information or the occurrence of unanticipated events, or otherwise. 2
Today’s Agenda Welcome and Call to Order – IBC ChairmanVoting upon matters listed in the Company’s
2019 Proxy Statement – IBC ChairmanBusiness Update by IBC President & CEOQuestion and answer session – IBC President & CEO and IBC EVP & CFOAdjournment 3
IBC Board of Directors IBC Executive Officers Terance L. BeiaWilliam J. Boer, Lead Director Joan A.
BuddenMichael J. Cok Stephen L. Gulis Jr. Terry L. HaskeChristina L. KellerWilliam B. KesselMichael M. Magee Jr., ChairmanMatthew J. Missad William B. Kessel – President and Chief Executive OfficerRobert N. Shuster – EVP/Chief Financial
Officer Larry R. Daniel – EVP/Operations and Digital BankingPatrick J. Ervin – EVP/Mortgage Banking Stefanie M. Kimball – EVP/Chief Risk OfficerDennis J. Mack – EVP/Chief Commercial Lending Officer 4 Note: Charles C. Van Loan retired from
the Board of Directors in March 2019.
2019 Annual Meeting of Shareholders Secretary for the meeting (Robert Shuster)Record date: February
22, 2019Approximate distribution date of Proxy Statement: March 8, 2019Shares entitled to vote: 23,737,017Determination of quorumVoting on proposals 5
Proposal #1Election of Directors 6 William J. Boer Joan A. Budden Michael J. Cok
Proposal #2Ratification of Appointment of Independent Auditors Crowe LLP has served as IBC’s
independent registered public accounting firm since 2005Crowe LLP was founded in 1942 and is one of the 10 largest accounting and consulting firms in the U.S.IBC is served primarily by Crowe’s Grand Rapids, Michigan and South Bend, Indiana
offices 7
Proposal #3Advisory Vote on Executive Compensation 8 The Board has solicited a non-binding advisory
vote from our shareholders to approve the compensation of our executives as described in our proxy materials.
INDEPENDENT BANK CORPORATIONBusiness Update by Brad Kessel, President & CEO 9
2018 Financial Summary 2018 2017 2016 Diluted EPS (1) $ 1.68 $ 0.95 $ 1.05 Cash dividends
paid 0.60 0.42 0.34 Income before income taxes 49,133 38,438 32,901 Net income (1) 39,839 20,475 22,766 Total assets 3,353,281 2,789,355 2,548,950 Total loans 2,582,520 2,018,817 1,608,248 Total
deposits 2,913,428 2,400,534 2,225,719 Shareholders’ equity 338,994 264,933 248,980 Tangible BV per share 12.90 12.34 11.62 Return on average assets (1) 1.27% 0.77% 0.92% Return on average equity (1) 12.38% 7.82% 9.21% TCE
to tangible assets 9.17% 9.45% 9.70% Note: Dollars in 000’s, except per share data. 10 (1) Excluding the impact of the $5.96 million remeasurement of deferred tax assets in 2017, diluted EPS is $1.22; net income is $26.440 million; ROA
is 1.00% and ROE is 10.10%.
6 2018 Full Year Financial Highlights Income Statement94.6% and 76.8% increases in net income and
diluted earnings per share (EPS), respectively, in 2018 compared to 2017. These increases are 56.6% and 42.7%, respectively, when excluding the impact of fair value changes due to price on capitalized mortgage loan servicing rights, merger
related expenses and the 2017 charge related to the remeasurement of deferred tax assets.Net interest income of $113.3 million, up $24.1 million, or 27.0%, from 2017.$1.5 million loan loss provision expense in 2018 versus $1.2 million in
2017. Recorded loan net recoveries of $0.8 million and $1.2 million in 2018 and 2017, respectively.Balance Sheet/CapitalTotal assets grew to $3.35 billion at 12/31/18, up $563.9 million, or 20.2%, from 2017. Increase reflects organic growth
as well as the Traverse City State Bank (TCSB) merger.Total portfolio loans grew to $2.58 billion at 12/31/18, up $563.7 million, or 27.9%, from 2017. (Note: $294.5 million of portfolio loans were acquired in the TCSB merger.) Deposits grew
to $2.91 billion at 12/31/18, up $512.9 million, or 21.4%, from 2017. (Note: $253.9 million of non-brokered deposits were acquired in the TCSB merger.)Repurchased 587,969 shares at an average cost of $21.57 per share during 2018.TBV per share
increased to $12.90 at 12/31/18, or 4.5%, from $12.34 at 12/31/17. 11
5 Return on Equity/Return on Assets 12 Note: ROA and ROE represent a four quarter rolling
average. Note: Q4’17 ROA and ROE calculations exclude the impact of the $5.96 million revaluation of net deferred tax assets.
5 Total Shareholder Return 13 Period: 01/01/2014 - 12/31/2018
Other Highlights and Initiatives Continuous focus on customer serviceRegular customer surveys across
all business lines.Forbes “Best in Banks and Credit Unions” Survey (published in June 2018) ranked Independent Bank second in the State of Michigan (and #1 for banks headquartered in Michigan) in customer satisfaction.Emphasis on community
serviceConducted third annual “Making a Difference Day” on October 8, 2018.Financial literacy efforts recognized by award from the Michigan Bankers Association.Other highlightsOn April 1, 2018 Independent Bank Corporation (IBCP) and TCSB
Bancorp, Inc. (parent company of Traverse City State Bank) merged.In September 2018, IBCP was named to the 2018 Sandler O’Neill Sm-All Stars list (only 30 financial institutions nationwide and only two in Michigan made this prestigious list).
Financial institutions are ranked on the basis of growth, profitability, credit quality and capital strength. 14
4 1Q’19 Financial Summary 1Q’19 4Q’18 3Q’18 2Q’18 1Q’18 Diluted EPS $ 0.39 $ 0.41 $
0.49 $ 0.36 $ 0.42 Income before taxes $ 11,548 $ 12,204 $ 14,846 $ 10,884 $ 11,199 Net income $ 9,381 $ 9,936 $ 11,925 $ 8,817 $ 9,161 Return on average assets 1.13% 1.18% 1.46% 1.12% 1.34% Return on average equity
11.14% 11.43% 13.83% 10.57% 14.04% Total assets $3,383,606 $3,353,281 $3,297,124 $3,234,522 $2,793,119 Total portfolio loans $2,618,795 $2,582,520 $2,562,578 $2,467,317 $2,071,435 Total
deposits $2,934,225 $2,913,428 $2,798,643 $2,780,516 $2,430,401 Loans to deposits ratio 89.25% 88.64% 91.57% 88.74% 85.23% Shareholders’ equity $ 344,726 $ 338,994 $ 345,204 $ 337,083 $ 267,917 Tangible BV per share $
13.17 $ 12.90 $ 12.84 $ 12.47 $ 12.46 TCE to tangible assets 9.26% 9.17% 9.51% 9.41% 9.54% Note: Dollars in thousands, except per share data. 15
5 1Q’19 Financial Highlights Income StatementNet income of $9.4 million, or $0.39 per diluted share.
Return on average assets of 1.13% and return on average equity of 11.14%. These ratios increase to 1.34% and 13.20%, respectively, when excluding the after tax impact of the decline in the fair value of capitalized mortgage loan servicing
rights due to price.Net interest income of $30.2 million, up $6.3 million, or 26.3%, from the year ago quarter.A decline in the fair value of capitalized mortgage loan servicing rights (due to price) decreased non-interest income by $2.2
million, or $0.073 per diluted share, after tax.$0.7 million loan loss provision expense (compared to an expense of $0.3 million in year ago quarter). Net gains on mortgage loans of $3.6 million increased $1.0 million from the year ago
quarter. Balance Sheet/CapitalTotal portfolio loans grew $36.3 million, or 5.7% annualized. Deposits totaled $2.93 billion at 3/31/19 compared to $2.91 billion at 12/31/18. 1Q’19 growth of $20.8 million, or 2.9% annualized (the annualized
growth rate increases to 12.2% when excluding brokered deposits). The 1Q’19 growth was primarily in savings and interest bearing checking account balances and in reciprocal deposits.115,787 shares repurchased during 1Q’19 at an average price
of $21.85 per share. 2019 share repurchase plan authorized for up to 5% of outstanding shares. TBV per share increased to $13.17 at 3/31/19 from $12.90 at 12/31/18.Paid a 18 cent per share cash dividend on common stock on 2/15/19. 16
Strategic Initiatives Growth1. Improve net interest income via balanced loan growth, disciplined risk
adjusted loan pricing and active management of deposit pricing. 2. Innovative and targeted customer acquisition, retention and cross sales strategies leveraging data analytics, inside sales staff, and intra-company referrals with strategic
business unit partners.3. Add new customers and grow revenue through outbound calling efforts.4. Add new customers and grow revenue through the addition of new talented sales professionals in our existing markets. 5. Supplement our organic
growth initiatives via selective and opportunistic bank acquisitions and branch acquisitions. Process Improvement and Cost Controls1. Review core processing, debit card processor and digital channel partner(s), select and negotiate new
agreement(s).2. Review, and negotiate new debit card contract.3. On-going branch optimization: including assessing existing locations; new locations; service hours; staffing; workflow; and our leveraging of existing technology. 4. Modernize
branch delivery technology/systems.5. Expand Digital Branch (Call Center) services.6. All business lines and departments: streamline/automate operating processes and workflows (use process mapping to identify moments of value and eliminate
duplication and waste.7. Build/enhance dashboard reporting and business intelligence.Talent Management 1. We recognize that the path to organizational success is through the success of each and every one of our team members. Accordingly we
encourage and support the professional development of our colleagues through our IB Leadership Program, mentoring and other initiatives. 2. We are passionate about our desire to ensure that our team members are empowered and supported in a
way that will best position them to serve our customers. 3. We believe that if we are committed to the well-being of our team members, and recognize and reward their contributions, they will ensure our success.Risk Management1. Maintain
strong, high quality, capital levels. 2. Maintain excellent asset quality and strong proactive monitoring and problem resolution.3. Sound overall risk management with effective and transparent reporting.4. Strong and consistent earnings,
augmenting capital.5. Active liquidity and interest rate risk monitoring and management.6. Strong, independent and collaborative risk management, utilizing three layers of defense (business unit, risk management and internal audit). 7.
Effective operational controls with special emphasis on cyber security, fraud prevention and regulatory compliance.8. Effective working relationships with banking regulators and other key outside oversight partners. 17
Independent Bank Corporation2019 Annual Shareholders Meeting Question and Answer SessionBrad Kessel,
President & CEORob Shuster, Chief Financial Officer 18
Independent Bank Corporation2019 Annual Shareholders Meeting Voting ResultsShares entitled to vote:
23,737,017Proposal #1 – Election of DirectorsProposal #2 – Ratification of AuditorsProposal #3 – Advisory (Non-Binding) Vote on Executive Compensation 19
Independent Bank Corporation2019 Annual Shareholders Meeting Closing RemarksThank you for
attending!NASDAQ: IBCP 20