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: July 29, 2021

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):

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐
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 ☐

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. ☐

Item 2.02. Results of Operations and Financial Condition

On July 29, 2021, Independent Bank Corporation issued a press release announcing its financial results for the quarter ended June 30, 2021.  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 July 29, 2021.

99.2 Supplemental data to the Registrant’s press release dated July 29, 2021.

99.3 Earnings conference call presentation.

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	July 29, 2021	By	s/Gavin A. Mohr
		Gavin A. Mohr, Principal Financial Officer

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

2021 SECOND QUARTER RESULTS

GRAND RAPIDS, Mich., July 29, 2021 - Independent Bank Corporation (NASDAQ: IBCP) reported second quarter 2021 net income of $12.4 million, or $0.56 per diluted share, versus net income of $14.8 million, or $0.67 per diluted share, in the prior-year period.  For the six months ended June 30, 2021, the Company reported net income of $34.4 million, or $1.56 per diluted share, compared to net income of $19.6 million, or $0.88 per diluted share, in the prior-year period.  The decline in second quarter 2021 earnings as compared to 2020 primarily reflects a decrease in non-interest income and an increase in non-interest expense that were partially offset by an increase in net interest income and decreases in the provision for credit losses and income tax expense.  The increase in year-to-date 2021 earnings as compared to 2020 primarily reflects increases in net interest income and non-interest income and a decrease in the provision for credit losses that were partially offset by increases in non-interest expense and income tax expense.

Highlights for the second quarter of 2021 include:

• Annualized return on average assets and on average equity of 1.12% and 12.78%, respectively;

• An increase in net interest income of 3.1% over the second quarter of 2020;

• Net gains on mortgage loans of $9.1 million and total mortgage loan origination volume of $473.7 million;

• Net growth in portfolio loans of $30.3 million (or 4.4% annualized);

• Continued strong asset quality metrics as evidenced by net loan recoveries during the quarter as well as a low level of non-performing loans and non-performing assets; and

• The payment of a 21 cent per share dividend on common stock on May 14, 2021.

Highlights for the first six months of 2021 include:

• Increases in net income and diluted earnings per share of 75.8% and 77.3%, respectively;

• Annualized return on average assets and on average equity of 1.60% and 18.06%, respectively;

• Net gains on mortgage loans of $21.9 million and total mortgage loan origination volume of $982.7 million;

• Net growth in portfolio loans of $80.9 million (or 6.0% annualized);

• Net growth in deposits of $225.1 million (or 12.5% annualized).

1

Significant items impacting comparable quarterly and year to date 2021 and 2020 results include the following:

• Changes in the fair value due to price of capitalized mortgage loan servicing rights (the “MSR Changes”) of a negative $2.4 million ($0.09 per diluted share, after taxes) and a positive $2.2 million ($0.08 per diluted share, after taxes) for the three- and six-months ended June 30, 2021, respectively, as compared to a negative $2.9 million ($0.10 per diluted share, after taxes) and a negative $8.9 million ($0.31 per diluted share, after taxes) for the three- and six-months ended June 30, 2020, respectively.

William B. (“Brad”) Kessel, the President and Chief Executive Officer of Independent Bank Corporation, commented: “We are pleased to report a solid financial performance for the second quarter and first six months of 2021.  Economic activity and business conditions have improved in our markets.  Earning asset growth, including portfolio loans, has resulted in an increase in net interest income in 2021 compared to the year ago period.  Mortgage loan origination activity continues to be strong. Asset quality metrics have been exceptional in 2021. Our ratio of non-performing assets to total assets declined to 0.12% at June 30, 2021, and COVID related loan forbearance balances decreased by 40.5% during the first six months of 2021, which represents only 0.5% of our total loans at June 30, 2021.”

Kessel added: “During the second quarter of 2021, we also completed our conversion to a new modern core platform with flexible application processing interfaces (APIs). This change now allows faster integration with new technology, real-time processing capabilities, and better access to our data and decision management using that data. Initial feedback from our customer base includes much excitement about ONE Wallet, our new mobile and online platform for consumer and business clients.  This platform provides customers with the ability to open new accounts and apply for loans online, along with enhanced transfer, bill pay, and self-service capabilities.  In addition, ONE Wallet+ enables our customers to monitor all of their finances in one location and provides budgeting and spending analytical tools.  ONE Wallet+ has experienced a very strong adoption rate.”

Kessel concluded: “As we look ahead to the balance of 2021 and beyond, we are mindful that although economic conditions have improved, challenges from the pandemic remain. However, we are confident of our continued ability to effectively respond to these challenges and remain optimistic about our future.”

Operating Results

The Company’s net interest income totaled $31.4 million during the second quarter of 2021, an increase of $0.9 million, or 3.1% from the year-ago period, and up $1.1 million, or 3.7%, from the first quarter of 2021.  The Company’s tax equivalent net interest income as a percent of average interest-earning assets (the “net interest margin”) was 3.02% during the second quarter of 2021, compared to 3.36% in the year-ago period, and 3.05% in the first quarter of 2021.  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 decline in the net interest margin.  Average interest-earning assets were $4.22 billion in the second quarter of 2021, compared to $3.66 billion in the year ago quarter and $4.05 billion in the first quarter of 2021.

For the first six months of 2021, net interest income totaled $61.7 million, an increase of $1.0 million, or 1.7% from the first half of 2020.  The Company’s net interest margin for the first six months of 2021 was 3.04% compared to 3.49% in 2020.  The increase in net interest income for the first six months of 2021 compared to 2020 was also due to an increase in average interest-earning assets that was partially offset by a decline in the net interest margin.

Due principally to the economic impact of COVID-19, the Federal Reserve has taken a variety of actions to stimulate the economy, including significantly lowering short-term interest rates. These lower interest rates combined with a higher allocation to lower yielding securities available for sale has placed continued pressure on the Company’s net interest margin.

2

In addition, commercial loan balances, interest income and yields have been impacted by Paycheck Protection Program (“PPP”) lending activity.  PPP lending activity is summarized in the following tables:

	PPP – Round 1
At or for the three months ended	6/30/2021					3/31/2021					6/30/2020
		#		(000’s)			#		(000’s)			#		(000’s)
Loans outstanding at period end		298	$	42,315			698	$	105,934			2,012	$	259,351
Average loans outstanding		-		78,747			-		136,206			-		191,061
Cumulative forgiveness applications submitted		1,882		231,715			1,477		183,346			-		-
Cumulative forgiveness applications approved		1,870		229,429			1,354		158,046			-		-
Net fees accreted into interest income		-		981			-		1,853			-		977
Net unaccreted fees at period end		-		381			-		1,362			-		7,736
Average loan yield		-		5.98	%		-		6.43	%		-		3.05	%

Note:  PPP – Round 1 loan activity began in the second quarter of 2020.

	PPP – Round 2
At or for the three months ended	6/30/2021					3/31/2021
		#		(000’s)			#		(000’s)
Loans outstanding at period end		1,409	$	129,573			1,250	$	128,240
Average loans outstanding		-		133,239			-		72,011
Cumulative forgiveness applications submitted		166		8,843			-		-
Cumulative forgiveness applications approved		164		8,828			-		-
Net fees accreted into interest income		-		832			-		229
Net unaccreted fees at period end		-		5,429			-		5,454
Average loan yield		-		3.50	%		-		2.25	%

Note:  PPP – Round 2 loan activity began in the first quarter of 2021.

Non-interest income totaled $14.8 million and $41.2 million, respectively, for the second quarter and first six months of 2021, compared to $20.4 million and $31.4 million in the respective comparable year ago periods.  These changes were primarily due to variances in mortgage banking related revenues (net gains on mortgage loans and mortgage loan servicing, net).

Net gains on mortgage loans in the second quarters of 2021 and 2020, were approximately $9.1 million and $17.6 million, respectively.  For the first six months of 2021, net gains on mortgage loans totaled $21.9 million compared to $26.5 million in 2020.  The decrease in net gains on mortgage loans was primarily due to a decline in mortgage loan sales volume in 2021, lower profit margins on mortgage loan sales, and fair value adjustments on the mortgage loan pipeline.

Mortgage loan servicing, net, generated a loss of $2.0 million and a loss of $3.0 million in the second quarters of 2021 and 2020, respectively. For the first six months of 2021 and 2020, mortgage loan servicing, net, generated income of $3.2 million and a loss of $8.3 million, respectively.  The significant variances in mortgage loan servicing, net are primarily due 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 loan servicing, net activity is summarized in the following table:

	Three Months Ended						Six Months Ended
	6/30/2021			6/30/2020			6/30/2021			6/30/2020
Mortgage loan servicing, net:				(Dollars in thousands)
Revenue, net	$	1,876		$	1,646		$	3,786		$	3,319
Fair value change due to price		(2,426	)		(2,921	)		2,214			(8,852	)
Fair value change due to pay-downs		(1,412	)		(1,747	)		(2,795	)		(2,789	)
Total	$	(1,962	)	$	(3,022	)	$	3,205		$	(8,322	)

Net gain on securities available for sale totaled zero and $1.4 million in second quarter and first six months of 2021, respectively, compared to zero and $0.3 million in the prior year second quarter and first six months, respectively. The increased gain that occurred in the first quarter of 2021 was related to the divestiture of a group of mortgage backed securities.

3

Non-interest expenses totaled $32.5 million in the second quarter of 2021, compared to $27.3 million in the year-ago period.  For the first six months of 2021, non-interest expenses totaled $62.6 million versus $56.1 million in 2020.  These year-over-year increases in non-interest expense are primarily due to increases in compensation and employee benefits, data processing, interchange and conversion related expenses.  The increase in compensation and employee benefits in 2021 is due to several factors, including, wage increases that were generally effective at the start of the year, increased overtime primarily associated with a data processing conversion, a higher accrual for incentive compensation (due to expected actual performance compared to targets), higher payroll taxes due to the increase in compensation and higher health care insurance costs (these costs during the first six months of 2020 were unusually low due to the various COVID related lock-downs).  In addition, the second quarter and first six months of 2021 included $1.1 million and $1.4 million, respectively, of expenses related to the Company’s core data processing conversion (this conversion was completed in May 2021) compared to $0.3 million and $0.4 million, respectively, in the comparable periods in 2020.  The second quarter and first six months of 2020 also included $0.4 million of expenses (primarily write-downs of fixed assets and leases) related to the closures of six bank branch offices that were completed in the third quarter of 2020.

The Company recorded an income tax expense of $2.7 million and $7.8 million in the second quarter and first six months of 2021, respectively.  This compares to an income tax expense of $3.5 million and $4.5 million in the second quarter and first six months of 2020, respectively.  The changes in income tax expense principally reflect changes in pre-tax earnings in 2021 relative to 2020.

Asset Quality

A breakdown of loan forbearance totals by loan type is as follows:

	6/30/2021							3/31/2021							% change vs. prior quarter
Loan Type		#	$ (000’s)		% of portfolio			#		$ (000’s)		% of portfolio			#			$
Commercial		-	$	-		0.0	%		-	$	-		0.0	%	none			none
Mortgage		82		12,416		1.2	%		111		15,263		1.5	%		(26.1	)%		(18.7	)%
Installment		18		327		0.1	%		32		537		0.1	%		(43.8	)%		(39.1	)%
Total		100	$	12,743		0.5	%		143	$	15,800		0.6	%		(30.1	)%		(19.3	)%
Loans serviced for others		150	$	20,231		0.6	%		205	$	26,975		0.9	%		(26.8	)%		(25.0	)%

Note:  The % of portfolio is based on the dollar amount of forbearances to the total for the loan portfolio segment.

A breakdown of non-performing loans⁽¹⁾ by loan type is as follows:

Loan Type	6/30/2021			12/31/2020			6/30/2020
	(Dollars in thousands)
Commercial	$	242		$	1,440		$	4,886
Mortgage		4,941			6,353			7,455
Installment		362			519			602
Subtotal		5,545			8,312			12,943
Less – government guaranteed loans		427			439			604
Total non-performing loans	$	5,118		$	7,873		$	12,339
Ratio of non-performing loans to total portfolio loans		0.18	%		0.29	%		0.43	%
Ratio of non-performing assets to total assets		0.12	%		0.21	%		0.34	%
Ratio of the allowance for credit losses to non-performing loans		897.34	%		450.01	%		279.60	%

(1) Excludes loans that are classified as “troubled debt restructured” that are still performing.

Non-performing loans decreased $2.8 million from December 31, 2020, as all loan categories have declined, reflecting improving economic conditions and the Company’s collection efforts.

4

The provision for credit losses was a credit of $1.4 million and an expense of $5.2 million in the second quarters of 2021 and 2020, respectively.  The provision for credit losses was a credit of $1.9 million and an expense of $11.9 million in the first six months of 2021 and 2020, respectively.  The quarterly and year-to-date decreases in the provision for credit losses in 2021 compared to 2020, were primarily the result of a decline in the balance of loans individually evaluated in the allowance for credit losses, slightly lower reserve allocations (reflecting an improvement in economic forecasts, particularly for lower unemployment levels) for pooled loans evaluated in the allowance for credit losses and a decrease in the adjustment to allocations based on subjective factors.  In particular, the higher year-to-date provision for credit losses in 2020 included an $8.7 million (or 98.2%) increase in the qualitative/subjective portion of the allowance for credit losses.  That increase in 2020 principally reflected the unique challenges and prevailing economic uncertainty resulting from the COVID-19 pandemic and the potential impact on the loan portfolio.

The Company recorded loan net recoveries of $0.6 million and loan net charge-offs of $3.2 million in the second quarters of 2021 and 2020, respectively.  For the first six months of 2021 and 2020, the Company recorded loan net recoveries of $0.7 million and loan net charge-offs of $3.6 million, respectively.

The allowance for credit losses totaled $45.9 million at June 30, 2021 compared to $35.4 million at December 31, 2020. The increase from December 31, 2020 is attributed to the adoption of Financial Accounting Standards Board Accounting Standards Update 2016-13, Financial Instruments — Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments (“CECL”) on January 1, 2021.  The impact of the adoption of CECL was an increase in the allowance for credit losses of $11.7 million. At June 30, 2021, the allowance for credit losses equaled 1.63% of total portfolio loans (1.73% when excluding PPP loans) under CECL, compared to 1.30% of total portfolio loans (1.38% when excluding PPP loans) at December 31, 2020, under the probable incurred loss methodology.

Balance Sheet, Liquidity and Capital

Total assets were $4.46 billion at June 30, 2021, an increase of $257.3 million from December 31, 2020.  Loans, excluding loans held for sale, were $2.81 billion at June 30, 2021, compared to $2.73 billion at December 31, 2020.  Deposits totaled $3.86 billion at June 30, 2021, an increase of $225.1 million from December 31, 2020.  This increase is primarily due to growth in non-interest bearing, savings and interest-bearing checking and reciprocal deposit account balances.

Cash and cash equivalents totaled $69.3 million at June 30, 2021, compared to $118.7 million at December 31, 2020. Securities available for sale totaled $1.33 billion at June 30, 2021, compared to $1.07 billion at December 31, 2020.  The significant increase in securities available for sale is due to the deployment of funds generated from the growth in deposits.

Total shareholders’ equity was $396.0 million at June 30, 2021, or 8.88% of total assets.  Tangible common equity totaled $363.9 million at June 30, 2021, or $16.82 per share.  The Company’s wholly owned subsidiary, Independent Bank, remains significantly above “well capitalized” for regulatory purposes with the following ratios:

Regulatory Capital Ratios	6/30/2021			12/31/2020			Well Capitalized Minimum
Tier 1 capital to average total assets		8.69	%		8.81	%		5.00	%
Tier 1 common equity to risk-weighted assets		12.46	%		12.81	%		6.50	%
Tier 1 capital to risk-weighted assets		12.46	%		12.81	%		8.00	%
Total capital to risk-weighted assets		13.71	%		14.06	%		10.00	%

Share Repurchase Plan

On December 18, 2020, the Board of Directors of the Company authorized the 2021 share repurchase plan.  Under the terms of the 2021 share repurchase plan, the Company is authorized to purchase up to 1,100,000 shares, or approximately 5% of its outstanding common stock. The repurchase plan is authorized to last through December 31, 2021. For the first six months of 2021, the Company has repurchased 344,005 shares at a weighted average price of $21.18 per share.

Earnings Conference Call

Brad Kessel, President and CEO and Gavin A. Mohr, CFO will review the quarterly results in a conference call for investors and analysts beginning at 12:00 pm ET on Thursday, July 29, 2021.

To participate in the live conference call, please dial 1-866-200-8394. Also the conference call will be accessible through an audio webcast with user-controlled slides via the following site/URL:  https://services.choruscall.com/links/ibcp210729.html.

A playback of the call can be accessed by dialing 1-877-344-7529 (Conference ID # 10158604). The replay will be available through August 5, 2021.

5

About Independent Bank Corporation

Independent Bank Corporation (NASDAQ: IBCP) is a Michigan-based bank holding company with total assets of approximately $4.5 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, 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 press release contains forward-looking statements about Independent Bank Corporation. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements and are based on the information available to, and assumptions and estimates made by, management as of the date hereof. These forward-looking statements cover, among other things, anticipated future revenue and expenses and the future plans and prospects of Independent Bank Corporation. Forward-looking statements involve inherent risks and uncertainties, and important factors could cause actual results to differ materially from those anticipated. The COVID-19 pandemic is adversely affecting Independent Bank Corporation, its customers, counterparties, employees, and third-party service providers, and the ultimate extent of the impacts on its business, financial position, results of operations, liquidity, and prospects is uncertain. Continued deterioration in general business and economic conditions or turbulence in domestic or global financial markets could adversely affect Independent Bank Corporation’s revenues and the values of its assets and liabilities, reduce the availability of funding from certain financial institutions, lead to a tightening of credit, and increase stock price volatility. In addition, changes to statutes, regulations, or regulatory policies or practices could affect Independent Bank Corporation in substantial and unpredictable ways. Independent Bank Corporation’s results could also be adversely affected by changes in interest rates; further increases in unemployment rates; deterioration in the credit quality of its loan portfolios or in the value of the collateral securing those loans; deterioration in the value of its investment securities; legal and regulatory developments; litigation; increased competition from both banks and non-banks; changes in the level of tariffs and other trade policies of the United States and its global trading partners; changes in customer behavior and preferences; breaches in data security; failures to safeguard personal information; effects of mergers and acquisitions and related integration; effects of critical accounting policies and judgments; and management’s ability to effectively manage credit risk, market risk, operational risk, compliance risk, strategic risk, interest rate risk, liquidity risk and reputation risk.

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, 2020 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.

6

INDEPENDENT BANK CORPORATION AND SUBSIDIARIES

Consolidated Statements of Financial Condition

	June 30, 2021			December 31, 2020
	(unaudited)
	(In thousands, except share
	amounts)
Assets
Cash and due from banks	$	46,242		$	56,006
Interest bearing deposits		23,012			62,699
Cash and Cash Equivalents		69,254			118,705
Securities available for sale		1,330,660			1,072,159
Federal Home Loan Bank and Federal Reserve Bank stock, at cost		18,427			18,427
Loans held for sale, carried at fair value		59,752			92,434
Loans
Commercial		1,244,547			1,242,415
Mortgage		1,045,108			1,015,926
Installment		524,904			475,337
Total Loans		2,814,559			2,733,678
Allowance for credit losses (1)		(45,926	)		(35,429	)
Net Loans		2,768,633			2,698,249
Other real estate and repossessed assets		296			766
Property and equipment, net		36,507			36,127
Bank-owned life insurance		55,446			55,180
Capitalized mortgage loan servicing rights, carried at fair value		22,431			16,904
Other intangibles		3,821			4,306
Goodwill		28,300			28,300
Accrued income and other assets		67,745			62,456
Total Assets	$	4,461,272		$	4,204,013
Liabilities and Shareholders’ Equity
Deposits
Non-interest bearing	$	1,298,282		$	1,153,473
Savings and interest-bearing checking		1,699,463			1,526,465
Reciprocal		589,493			556,185
Time		272,305			287,402
Brokered time		2,923			113,830
Total Deposits		3,862,466			3,637,355
Other borrowings		30,005			30,012
Subordinated debt		39,319			39,281
Subordinated debentures		39,558			39,524
Accrued expenses and other liabilities		93,950			68,319
Total Liabilities		4,065,298			3,814,491
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: 21,632,912 shares at June 30, 2021 and 21,853,800 shares at December 31, 2020		332,457			339,353
Retained earnings		55,101			40,145
Accumulated other comprehensive income		8,416			10,024
Total Shareholders’ Equity		395,974			389,522
Total Liabilities and Shareholders’ Equity	$	4,461,272		$	4,204,013

(1) Beginning January 1, 2021, calculation is based on CECL methodology.  Prior to January 1, 2021, calculation was based on the probable incurred loss methodology.

7

INDEPENDENT BANK CORPORATION AND SUBSIDIARIES

Consolidated Statements of Operations

	Three Months Ended									Six Months Ended
	June 30,			March 31,			June 30,			June 30,
	2021			2021			2020			2021			2020
	(unaudited)
Interest Income	(In thousands, except per share amounts)
Interest and fees on loans	$	28,091		$	28,105		$	29,863		$	56,196		$	61,627
Interest on securities available for sale
Taxable		3,656			2,796			2,847			6,452			5,906
Tax-exempt		1,544			1,384			793			2,928			1,183
Other investments		208			217			251			425			617
Total Interest Income		33,499			32,502			33,754			66,001			69,333
Interest Expense
Deposits		1,142			1,256			2,388			2,398			7,088
Other borrowings and subordinated debt and debentures		964			962			904			1,926			1,592
Total Interest Expense		2,106			2,218			3,292			4,324			8,680
Net Interest Income		31,393			30,284			30,462			61,677			60,653
Provision for credit losses (1)		(1,425	)		(474	)		5,188			(1,899	)		11,909
Net Interest Income After Provision for Credit Losses		32,818			30,758			25,274			63,576			48,744
Non-interest Income
Interchange income		3,453			3,049			2,526			6,502			4,983
Service charges on deposit accounts		2,318			1,916			1,623			4,234			4,214
Net gains on assets
Mortgage loans		9,091			12,828			17,642			21,919			26,482
Securities available for sale		-			1,416			-			1,416			253
Mortgage loan servicing, net		(1,962	)		5,167			(3,022	)		3,205			(8,322	)
Other		1,871			2,030			1,598			3,901			3,761
Total Non-interest Income		14,771			26,406			20,367			41,177			31,371
Non-interest Expense
Compensation and employee benefits		19,883			18,522			16,279			38,405			32,788
Data processing		2,576			2,374			1,590			4,950			3,945
Occupancy, net		2,153			2,343			2,159			4,496			4,619
Interchange expense		1,201			948			726			2,149			1,585
Furniture, fixtures and equipment		1,034			1,003			1,090			2,037			2,126
Communications		777			881			800			1,658			1,603
Loan and collection		859			759			756			1,618			1,561
Conversion related expenses		1,143			218			346			1,361			402
Legal and professional		522			499			468			1,021			861
Advertising		164			489			364			653			1,047
FDIC deposit insurance		307			330			430			637			800
Correspondent bank service fees		115			100			94			215			193
Branch closure costs		-			-			417			-			417
Net (gains) losses on other real estate and repossessed assets		6			(180	)		(9	)		(174	)		100
Other		1,796			1,735			1,836			3,531			4,018
Total Non-interest Expense		32,536			30,021			27,346			62,557			56,065
Income Before Income Tax		15,053			27,143			18,295			42,196			24,050
Income tax expense		2,665			5,106			3,523			7,771			4,468
Net Income	$	12,388		$	22,037		$	14,772		$	34,425		$	19,582
Net Income Per Common Share
Basic	$	0.57		$	1.01		$	0.67		$	1.58		$	0.89
Diluted	$	0.56		$	1.00		$	0.67		$	1.56		$	0.88

(1) Beginning January 1, 2021, calculation is based on CECL methodology.  Prior to January 1, 2021, calculation was based on the probable incurred loss methodology.

8

INDEPENDENT BANK CORPORATION AND SUBSIDIARIES

Selected Financial Data

	June 30, 2021			March 31, 2021			December 31, 2020			September 30, 2020			June 30, 2020
	(unaudited)
	(Dollars in thousands except per share data)
Three Months Ended
Net interest income	$	31,393		$	30,284		$	30,993		$	31,966		$	30,462
Provision for credit losses (1)		(1,425	)		(474	)		(421	)		975			5,188
Non-interest income		14,771			26,406			22,363			27,011			20,367
Non-interest expense		32,536			30,021			32,707			33,641			27,346
Income before income tax		15,053			27,143			21,070			24,361			18,295
Income tax expense		2,665			5,106			4,084			4,777			3,523
Net income	$	12,388		$	22,037		$	16,986		$	19,584		$	14,772
Basic earnings per share	$	0.57		$	1.01		$	0.78		$	0.90		$	0.67
Diluted earnings per share		0.56			1.00			0.77			0.89			0.67
Cash dividend per share		0.21			0.21			0.20			0.20			0.20
Average shares outstanding		21,749,654			21,825,937			21,866,326			21,881,562			21,890,761
Average diluted shares outstanding		21,966,829			22,058,503			22,112,829			22,114,692			22,113,187
Performance Ratios
Return on average assets		1.12	%		2.10	%		1.61	%		1.90	%		1.54	%
Return on average equity		12.78			23.51			17.82			21.36			17.39
Efficiency ratio (2)		69.24			53.48			60.59			56.36			53.07
As a Percent of Average Interest-Earning Assets (2)
Interest income		3.22	%		3.27	%		3.57	%		3.62	%		3.72	%
Interest expense		0.20			0.22			0.45			0.31			0.36
Net interest income		3.02			3.05			3.12			3.31			3.36
Average Balances
Loans	$	2,859,544		$	2,834,012		$	2,876,795		$	2,925,872		$	2,913,857
Securities available for sale		1,274,556			1,093,618			1,009,578			891,975			660,126
Total earning assets		4,223,570			4,047,952			3,984,080			3,887,455			3,659,614
Total assets		4,434,760			4,254,294			4,195,546			4,102,318			3,868,408
Deposits		3,879,715			3,698,811			3,632,758			3,559,070			3,303,302
Interest bearing liabilities		2,674,425			2,589,102			2,574,306			2,532,481			2,402,361
Shareholders’ equity		388,780			380,111			379,232			364,714			341,606
End of Period
Capital
Tangible common equity ratio		8.21	%		8.08	%		8.56	%		8.23	%		8.03	%
Average equity to average assets		8.77			8.93			9.04			8.89			8.83
Common shareholders’ equity per share of common stock	$	18.30		$	17.79		$	17.82		$	17.05		$	16.23
Tangible common equity per share of common stock		16.82			16.30			16.33			15.55			14.72
Total shares outstanding		21,632,912			21,773,734			21,853,800			21,885,368			21,880,183
Selected Balances
Loans	$	2,814,559		$	2,784,224		$	2,733,678		$	2,855,479		$	2,866,663
Securities available for sale		1,330,660			1,247,280			1,072,159			985,050			856,280
Total earning assets		4,246,410			4,209,017			3,979,397			3,962,824			3,833,523
Total assets		4,461,272			4,426,440			4,204,013			4,168,944			4,043,315
Deposits		3,862,466			3,858,575			3,637,355			3,597,745			3,485,125
Interest bearing liabilities		2,633,747			2,626,280			2,553,418			2,515,185			2,456,193
Shareholders’ equity		395,974			387,329			389,522			373,092			355,123

(1) Beginning January 1, 2021, calculation is based on CECL methodology.  Prior to January 1, 2021, calculation was based on the probable incurred loss methodology.

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

9

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 June 30,						Six Months Ended June 30,
	2021			2020			2021			2020
	(Dollars in thousands)
Net Interest Margin, Fully Taxable Equivalent (“FTE”)
Net interest income	$	31,393		$	30,462		$	61,677		$	60,653
Add:  taxable equivalent adjustment		478			223			882			344
Net interest income - taxable equivalent	$	31,871		$	30,685		$	62,559		$	60,997
Net interest margin (GAAP) (1)		2.98	%		3.34	%		3.00	%		3.47	%
Net interest margin (FTE) (1)		3.02	%		3.36	%		3.04	%		3.49	%

(1) Annualized.

Tangible Common Equity Ratio

	June 30, 2021			March 31, 2021			December 31, 2020			September 30, 2020			June 30, 2020
	(Dollars in thousands)
Common shareholders’ equity	$	395,974		$	387,329		$	389,522		$	373,092		$	355,123
Less:
Goodwill		28,300			28,300			28,300			28,300			28,300
Other intangibles		3,821			4,063			4,306			4,561			4,816
Tangible common equity	$	363,853		$	354,966		$	356,916		$	340,231		$	322,007
Total assets	$	4,461,272		$	4,426,440		$	4,204,013		$	4,168,944		$	4,043,315
Less:
Goodwill		28,300			28,300			28,300			28,300			28,300
Other intangibles		3,821			4,063			4,306			4,561			4,816
Tangible assets	$	4,429,151		$	4,394,077		$	4,171,407		$	4,136,083		$	4,010,199
Common equity ratio		8.88	%		8.75	%		9.27	%		8.95	%		8.78	%
Tangible common equity ratio		8.21	%		8.08	%		8.56	%		8.23	%		8.03	%
Tangible Common Equity per Share of Common Stock:
Common shareholders’ equity	$	395,974		$	387,329		$	389,522		$	373,092		$	355,123
Tangible common equity	$	363,853		$	354,966		$	356,916		$	340,231		$	322,007
Shares of common stock outstanding (in thousands)		21,633			21,774			21,854			21,885			21,880
Common shareholders’ equity per share of common stock	$	18.30		$	17.79		$	17.82		$	17.05		$	16.23
Tangible common equity per share of common stock	$	16.82		$	16.30		$	16.33		$	15.55		$	14.72

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.

10

EX-99.2

Exhibit 99.2

INDEPENDENT BANK CORPORATION AND SUBSIDIARIES

Supplemental Data

Non-performing assets (1)
	June 30, 2021			March 31, 2021			December 31, 2020			September 30, 2020			June 30, 2020
	(Dollars in thousands)
Non-accrual loans	$	5,531		$	7,548		$	8,312		$	10,481		$	12,938
Loans 90 days or more past due and still accruing interest		14			-			-			266			5
Subtotal		5,545			7,548			8,312			10,747			12,943
Less:  Government guaranteed loans		427			459			439			510			604
Total non-performing loans		5,118			7,089			7,873			10,237			12,339
Other real estate and repossessed assets		296			346			766			1,487			1,569
Total non-performing assets	$	5,414		$	7,435		$	8,639		$	11,724		$	13,908
As a percent of Portfolio Loans
Non-performing loans		0.18	%		0.25	%		0.29	%		0.36	%		0.43	%
Allowance for credit losses		1.63			1.68			1.30			1.25			1.20
Non-performing assets to total assets		0.12			0.17			0.21			0.28			0.34
Allowance for credit losses as a percent of non-performing loans		897.34			659.54			450.01			349.43			279.60

⁽¹⁾ Excludes loans classified as “trouble debt restructured” that are not past due.

Troubled debt restructurings (“TDR”)

	June 30, 2021
	Commercial		Retail (1)			Total
	(In thousands)
Performing TDR’s	$	4,948	$	34,561		$	39,509
Non-performing TDR’s (2)		-		1,165	(3)		1,165
Total	$	4,948	$	35,726		$	40,674

	December 31, 2020
	Commercial		Retail (1)			Total
	(In thousands)
Performing TDR’s	$	7,956	$	36,385		$	44,341
Non-performing TDR’s (2)		1,148		1,584	(3)		2,732
Total	$	9,104	$	37,969		$	47,073

(1) Retail loans include mortgage and installment loan segments.

(2) Included in non-performing assets table above.

(3) Also includes loans on non-accrual at the time of modification until six payments are received on a timely basis.

1

Allowance for credit losses

	Six months ended June 30,
	2021						2020
	Loans			Unfunded Commitments			Loans			Unfunded Commitments
	(Dollars in thousands)
Balance at beginning of period	$	35,429		$	1,805		$	26,148		$	1,542
Additions (deductions)
Impact of adoption of ASC 326		11,574			1,469			-			-
Provision for credit losses (1)		(1,899	)		-			11,909			-
Initial allowance on loans purchased with credit deterioration		134			-			-			-
Recoveries credited to allowance		1,434			-			1,754			-
Loans charged against the allowance		(746	)		-			(5,311	)		-
Additions included in non-interest expense		-			(6	)		-			230
Balance at end of period	$	45,926		$	3,268		$	34,500		$	1,772
Net loans charged (recovered) against the allowance to average Portfolio Loans		(0.05	)%					0.26	%

(1) Beginning January 1, 2021, calculation is based on CECL methodology.  Prior to January 1, 2021, calculation was based on the probable incurred loss methodology.

Capitalization

	June 30, 2021			December 31, 2020
	(In thousands)
Subordinated debt	$	39,319		$	39,281
Subordinated debentures		39,558			39,524
Amount not qualifying as regulatory capital		(543	)		(505	)
Amount qualifying as regulatory capital		78,334			78,300
Shareholders’ equity
Common stock		332,457			339,353
Retained earnings		55,101			40,145
Accumulated other comprehensive income		8,416			10,024
Total shareholders’ equity		395,974			389,522
Total capitalization	$	474,308		$	467,822

2

Non-Interest Income

	Three months ended								Six months ended
	June 30,			March 31,		June 30,			June 30,
	2021			2021		2020			2021		2020
	(In thousands)
Interchange income	$	3,453		$	3,049	$	2,526		$	6,502	$	4,983
Service charges on deposit accounts		2,318			1,916		1,623			4,234		4,214
Net gains on assets
Mortgage loans		9,091			12,828		17,642			21,919		26,482
Securities		-			1,416		0			1,416		253
Mortgage loan servicing, net		(1,962	)		5,167		(3,022	)		3,205		(8,322	)
Investment and insurance commissions		634			583		435			1,217		948
Bank owned life insurance		127			139		265			266		535
Other		1,110			1,308		898			2,418		2,278
Total non-interest income	$	14,771		$	26,406	$	20,367		$	41,177	$	31,371

Capitalized Mortgage Loan Servicing Rights

	Three months ended June 30,						Six months ended June 30,
	2021			2020			2021			2020
	(In thousands)
Balance at beginning of period	$	23,530		$	14,829		$	16,904		$	19,171
Originated servicing rights capitalized		2,739			3,611			6,108			6,243
Change in fair value		(3,838	)		(4,667	)		(581	)		(11,641	)
Balance at end of period	$	22,431		$	13,773		$	22,431		$	13,773

3

Mortgage Loan Activity

	Three months ended									Six months ended
	June 30,			March 31,			June 30,			June 30,
	2021			2021			2020			2021			2020
	(Dollars in thousands)
Mortgage loans originated	$	473,742		$	509,003		$	470,626		$	982,745		$	781,704
Mortgage loans sold		306,789			377,418			379,048			684,207			641,308
Net gains on mortgage loans		9,091			12,828			17,642			21,919			26,482
Net gains as a percent of mortgage loans sold  (“Loan Sales Margin”)		2.96	%		3.40	%		4.65	%		3.20	%		4.13	%
Fair value adjustments included in the
Loan Sales Margin		(0.08	)		(0.98	)		1.14			(0.57	)		0.99

Non-Interest Expense

	Three months ended								Six months ended
	June 30,		March 31,			June 30,			June 30,
	2021		2021			2020			2021			2020
	(In thousands)
Compensation	$	11,136	$	10,121		$	9,668		$	21,257		$	20,371
Performance-based compensation		4,783		4,292			3,809			9,075			5,930
Payroll taxes and employee benefits		3,964		4,109			2,802			8,073			6,487
Compensation and employee benefits		19,883		18,522			16,279			38,405			32,788
Data processing		2,576		2,374			1,590			4,950			3,945
Occupancy, net		2,153		2,343			2,159			4,496			4,619
Interchange expense		1,201		948			726			2,149			1,585
Furniture, fixtures and equipment		1,034		1,003			1,090			2,037			2,126
Communications		777		881			800			1,658			1,603
Loan and collection		859		759			756			1,618			1,561
Conversion related expenses		1,143		218			346			1,361			402
Legal and professional		522		499			468			1,021			861
Advertising		164		489			364			653			1,047
FDIC deposit insurance		307		330			430			637			800
Amortization of intangible assets		243		242			255			485			510
Supplies		170		174			203			344			387
Correspondent bank service fees		115		100			94			215			193
Provision for loss reimbursement on sold loans		25		34			77			59			114
Branch closure costs		-		-			417			-			417
Costs (recoveries) related to unfunded lending commitments		26		(32	)		111			(6	)		230
Net (gains) losses on other real estate and repossessed assets		6		(180	)		(9	)		(174	)		100
Other		1,332		1,317			1,190			2,649			2,777
Total non-interest expense	$	32,536	$	30,021		$	27,346		$	62,557		$	56,065

4

Average Balances and Tax Equivalent Rates

	Three Months Ended June 30,
			2021							2020
	Average Balance		Interest		Rate (2)			Average Balance		Interest		Rate (2)
	(Dollars in thousands)
Assets
Taxable loans	$	2,852,972	$	28,026		3.94	%	$	2,906,843	$	29,793		4.11	%
Tax-exempt loans (1)		6,572		82		5.00			7,014		88		5.05
Taxable securities		908,622		3,656		1.61			535,345		2,847		2.13
Tax-exempt securities (1)		365,934		2,005		2.19			124,781		998		3.20
Interest bearing cash		71,043		22		0.12			67,204		18		0.11
Other investments		18,427		186		4.05			18,427		233		5.09
Interest Earning Assets		4,223,570		33,977		3.22			3,659,614		33,977		3.72
Cash and due from banks		54,120							45,714
Other assets, net		157,070							163,080
Total Assets	$	4,434,760						$	3,868,408
Liabilities
Savings and interest-bearing checking	$	2,260,172		689		0.12		$	1,754,503		505		0.12
Time deposits		305,390		453		0.59			494,411		1,883		1.53
Other borrowings		108,863		964		3.55			153,447		904		2.37
Interest Bearing Liabilities		2,674,425		2,106		0.32			2,402,361		3,292		0.55
Non-interest bearing deposits		1,314,153							1,054,388
Other liabilities		57,402							70,053
Shareholders’ equity		388,780							341,606
Total liabilities and
shareholders’ equity	$	4,434,760						$	3,868,408
Net Interest Income			$	31,871						$	30,685
Net Interest Income as a Percent of Average Interest Earning Assets						3.02	%						3.36	%

(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

5

Average Balances and Tax Equivalent Rates

	Six Months Ended June 30,
	2021							2020
	Average Balance		Interest		Rate (2)			Average Balance		Interest		Rate (2)
	(Dollars in thousands)
Assets
Taxable loans	$	2,840,224	$	56,065		3.98	%	$	2,832,876	$	61,481		4.36	%
Tax-exempt loans (1)		6,624		166		5.07			7,438		185		5.00
Taxable securities		845,895		6,452		1.52			501,720		5,906		2.35
Tax-exempt securities (1)		338,692		3,775		2.22			92,040		1,488		3.23
Interest bearing cash		86,384		51		0.12			52,814		146		0.56
Other investments		18,427		374		4.10			18,393		471		5.15
Interest Earning Assets		4,136,246		66,883		3.25			3,505,281		69,677		3.99
Cash and due from banks		55,239							47,663
Other assets, net		153,540							164,167
Total Assets	$	4,345,025						$	3,717,111
Liabilities
Savings and interest-bearing checking	$	2,200,620		1,364		0.13		$	1,685,046		2,435		0.29
Time deposits		322,535		1,034		0.65			544,642		4,653		1.72
Other borrowings		108,844		1,926		3.58			126,491		1,592		2.53
Interest Bearing Liabilities		2,631,999		4,324		0.33			2,356,179		8,680		0.74
Non-interest bearing deposits		1,266,607							955,114
Other liabilities		61,950							60,540
Shareholders’ equity		384,469							345,278
Total liabilities and
shareholders’ equity	$	4,345,025						$	3,717,111
Net Interest Income			$	62,559						$	60,997
Net Interest Income as a Percent of Average Interest Earning Assets						3.04	%						3.49	%

(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

6

Commercial Loan Portfolio Analysis as of June 30, 2021

	Total Commercial Loans
			Watch Credits						Percent of Loan
Loan Category	All Loans		Performing		Non-accrual		Total		Category in Watch Credit
	(Dollars in thousands)
Land	$	13,523	$	162	$	-	$	162		1.2	%
Land Development		11,498		34		-		34		0.3
Construction		70,347		-		-		-		0.0
Income Producing		369,262		2,337		-		2,337		0.6
Owner Occupied		340,061		13,400		-		13,400		3.9
Total Commercial Real Estate Loans	$	804,691	$	15,933		-	$	15,933		2.0
Other Commercial Loans	$	439,856	$	12,560		242	$	12,802		2.9
Total non-performing commercial loans					$	242

Commercial Loan Portfolio Analysis as of December 31, 2020

	Total Commercial Loans
			Watch Credits						Percent of Loan
Loan Category	All Loans		Performing		Non-accrual		Total		Category in Watch Credit
	(Dollars in thousands)
Land	$	14,567	$	116	$	-	$	116		0.8	%
Land Development		12,176		36		-		36		0.3
Construction		68,724		36		-		36		0.1
Income Producing		358,603		3,699		-		3,699		1.0
Owner Occupied		360,510		24,693		745		25,438		7.1
Total Commercial Real Estate Loans	$	814,580	$	28,580		745	$	29,325		3.6
Other Commercial Loans	$	427,835	$	16,059		695	$	16,754		3.9
Total non-performing commercial loans					$	1,440

7

EX-99.3

Exhibit 99.3

 Independent Bank Corporation (IBCP)  Earnings CallSecond Quarter 2021July 29, 2021 

 Cautionary note regarding forward-looking statements  This presentation contains forward-looking statements about Independent Bank Corporation. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements and are based on the information available to, and assumptions and estimates made by, management as of the date hereof. These forward-looking statements cover, among other things, anticipated future revenue and expenses and the future plans and prospects of Independent Bank Corporation. Forward-looking statements involve inherent risks and uncertainties, and important factors could cause actual results to differ materially from those anticipated. The COVID-19 pandemic is adversely affecting Independent Bank Corporation, its customers, counterparties, employees, and third-party service providers, and the ultimate extent of the impacts on its business, financial position, results of operations, liquidity, and prospects is uncertain. Continued deterioration in general business and economic conditions or turbulence in domestic or global financial markets could adversely affect Independent Bank Corporation’s revenues and the values of its assets and liabilities, reduce the availability of funding from certain financial institutions, lead to a tightening of credit, and increase stock price volatility. In addition, changes to statutes, regulations, or regulatory policies or practices could affect Independent Bank Corporation in substantial and unpredictable ways. Independent Bank Corporation’s results could also be adversely affected by changes in interest rates; further increases in unemployment rates; deterioration in the credit quality of its loan portfolios or in the value of the collateral securing those loans; deterioration in the value of its investment securities; legal and regulatory developments; litigation; increased competition from both banks and non-banks; changes in the level of tariffs and other trade policies of the United States and its global trading partners; changes in customer behavior and preferences; breaches in data security; failures to safeguard personal information; effects of mergers and acquisitions and related integration; effects of critical accounting policies and judgments; and management’s ability to effectively manage credit risk, market risk, operational risk, compliance risk, strategic risk, interest rate risk, liquidity risk and reputation risk. 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, 2020 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 

 Agenda  Formal Remarks.William B. (Brad) Kessel, President and Chief Executive OfficerGavin A. Mohr, Executive Vice President and Chief Financial OfficerQuestion and Answer session.Closing Remarks.Note: This presentation is available at www.IndependentBank.com in the Investor Relations area under the “Presentations” tab.  3 

 Historical Financial Data  4        Year Ended December 31,           Quarter Ended          ($M except per share data)    2017  2018  2019  2020     6/30/20  9/30/20  12/31/20  3/31/21  6/30/21                                      Balance Sheet:                         Total Assets    $2,789   $3,353   $3,565   $4,204     $4,043   $4,169   $4,204   $4,426   $4,461   Portfolio Loans     $2,019   $2,583   $2,725   $2,734      $2,867   $2,855   $2,734   $2,784   $2,815   Deposits    $2,401   $2,913   $3,037   $3,637     $3,485   $3,598   $3,637   $3,859   $3,862   Tangible Common Equity    $263   $304   $317   $357      $322   $340   $357   $355   $364   Profitability:                         Pre-Tax, Pre-Provision Income    $39.6   $50.6   $58.6   $81.9     $23.5   $25.3   $20.6   $26.7   $13.6   Pre-Tax, Pre-Prov. / Avg. Assets    1.50%  1.62%  1.70%  2.08%     2.44%  2.46%  1.98%  2.54%  1.23%  Net Income    $20.5   $39.8   $46.4   $56.2     $14.8   $19.6   $17.0   $22.0   $12.4   Return on Average Assets    0.77%  1.27%  1.35%  1.43%     1.54%  1.90%  1.61%  2.10%  1.12%  Return on Average Equity    7.8%  12.4%  13.6%  15.7%    17.4%  21.4%  17.8%  23.5%  12.8%  Net Interest Margin (FTE)    3.65%  3.88%  3.80%  3.34%     3.36%  3.31%  3.12%  3.05%  3.02%  Efficiency Ratio    69.2%  67.2%  64.9%  59.2%    53.1%  56.4%  60.6%  53.5%  69.2%  Asset Quality:                         NPAs / Assets    0.35%  0.29%  0.32%  0.21%    0.34%  0.28%  0.21%  0.17%  0.12%  NPAs / Loans + OREO    0.49%  0.38%  0.42%  0.32%     0.48%  0.41%  0.32%  0.27%  0.19%  Reserves / Total Portfolio Loans    1.12%  0.96%  0.96%  1.30%    1.20%  1.25%  1.30%  1.68%  1.63%  NCOs / Avg. Loans    (0.06%)  (0.03%)  (0.02%)  0.11%     0.45%  (0.04%)  (0.02%)  (0.01%)  (0.09%)  Capital Ratios:                         TCE Ratio    9.4%  9.2%  9.0%  8.6%    8.0%  8.2%  8.6%  8.1%  8.2%  Leverage Ratio     10.6%  10.5%  10.1%  9.2%     9.1%  9.0%  9.2%  9.3%  9.0%  Tier 1 Capital Ratio    14.0%  13.3%  12.7%  13.3%    12.6%  13.0%  13.3%  13.2%  13.0%  Total Capital Ratio    15.2%  14.3%  13.7%  16.0%     15.3%  15.6%  16.0%  15.8%  15.5% 

 2Q 2021 Financial Highlights  Income StatementPre-tax, pre-provision income of $13.6 million compared to $23.5 million in the year ago quarter.Net income of $12.4 million, or $0.56 per diluted share compared to $14.8 million, or $0.67 per diluted share in the year ago quarter.Net interest income of $31.4 million, compared to $30.5 million, in the year ago quarter.Mortgage loan originations of $473.7 million, also, $306.8 million in mortgage loans sold with $9.1 million in net gains on mortgage loans compared to $17.6 million in net gains in the year ago quarter. Mortgage servicing rights change (the “MSR Change”) due to price of a negative $2.4 million ($0.09 per diluted share, after taxes) compared to a negative $2.9 million ($0.10 per diluted share, after taxes) in the year ago quarter. Provision for credit losses credit of $1.4 million compared to an expense of $5.2 million in the year ago quarter. Balance Sheet/CapitalSecurities available for sale increased by $83.4 million.Total portfolio loans increased by $30.3 million.Total deposits grew by $3.9 million.Paid a 21 cent per share cash dividend on common stock on May 14, 2021.  5 

 Year-to-date 2021 Financial Highlights  Income StatementIncreases in net income and diluted earnings per share of 75.8% and 77.3%, respectively, for the first six months of 2021 compared to 2020.Annualized return on average assets and on average equity of 1.60% and 18.06%, respectively, for the first six months of 2021.Mortgage loan originations of $982.7 million and mortgage loans sold of $684.2 million with $21.9 million in net gains on mortgage loans for the first six months of 2021 compared to $26.5 million in net gains in the year ago period. Mortgage servicing rights change (the “MSR Change”) due to price of a positive $2.2 million ($0.08 per diluted share, after taxes) for the first six months of 2021 compared to a negative $8.9 million ($0.31 per diluted share, after taxes) in the year ago period. Provision for credit losses credit of $1.9 million for the first six months of 2021 compared to an expense of $11.9 million in the year ago period. Balance Sheet/CapitalNet growth in portfolio loans of $80.9 million, or 6.0% annualized.Net growth in deposits of $225.1 million, or 12.5% annualized.Repurchased 344,005 common shares at a weighted average price of $21.18 per share during the first six months of 2021.  6 

 Our Michigan Markets  7  Source: S&P Global Market Intelligence and Company documents. Map does not include loan production offices. Deposit market share data based on FDIC Summary of Deposits Annual Survey as of June 30, 2020.Note: Loan and deposit balances exclude the loans and deposits (such as brokered deposits) that are not clearly allocable to a certain market region. Loans specifically exclude: $161 million of Ohio mortgage loans, $47 million of resort loans and $12 million of purchased mortgage loans.      94          96          75          69      Michigan’s premier community bank. #1 deposit market share amongst Michigan banks < $10B in assets and #9 deposit market share overall. Top 10 market share in 20 of 23 counties of operation – with opportunity to gain market share in attractive Michigan markets.Low cost and stable deposit base in East/”Thumb” and Central regions utilized to fund loan growth in the West and Southeast regions (higher growth & more metropolitan).New full service bank branch opened in Brighton, Michigan in 4Q’20.7 Loan Production Offices (LPOs), including 5 throughout Michigan and 2 in Ohio (residential mortgage lending only).    Branches (62)    East / “Thumb”Branches: 20Deposits: $1,248MLoans: $618M  SoutheastBranches: 8Deposits: $547MLoans: $840M  CentralBranches: 10Deposits: $538MLoans: $204M  WestBranches: 20Deposits: $1,201MLoans: $633M  NorthwestBranches: 4Deposits: $319MLoans: $283M 

 Select Economic Statistics  8  Unemployment Trends (%)  Total Employees (Thousands)  Regional Average Home Sales Price (Thousands)  Annualized Home Sales (Thousands)  Select Economic Statistics   Unemployment rates returning to normal levels  Stable prices in key markets  Strong job growth continues  Rebounding Michigan home sales 

     Low Cost Deposit Franchise Focused on Core Deposit Growth  9  Substantially core funding – $3.55 billion of non-maturity deposit accounts (92.0% of total deposits).Total deposits increased $225.1 million (6.2%) since 12/31/20 with non-interest bearing up $144.8 million, savings and interest- bearing checking up $173.0 million, reciprocal up $33.3 million, time down $15.1 million and brokered down $110.9 million.Deposits by Customer Type:Retail – 51.5%Commercial – 34.6%Municipal – 13.9%  Deposit Composition – 6/30/21  Deposit Highlights  Michigan Deposit Market Share  $3.9B  Core Deposits: 92.0%  Cost of Deposits (%)/Total Deposits ($B)  Note: Core deposits defined as total deposits less maturity deposits.  

  10  10  All functionality within online banking can be done in the new IB ONE Wallet app.Customers can reset their own passwords in the app. Instantly transfer funds to other IB customers. IB Card Controls allows you to turn your debit card on or off, restrict transactions by category or dollar amount, and easily set up purchase alerts.       ONE Wallet+, available in Online Banking and through the IB ONE Wallet app, is a tool that allows you to consolidate multiple accounts, including other bank accounts, credit cards, and investment accounts into one place. You can create budgets, manage trends, and even set financial goals.  Digital Transformation 

 Diversified Loan PortfolioFocused on High Quality Growth  11  Lending Highlights  Note: Portfolio loans exclude loans HFS.  Portfolio loan changes in 2Q’21:Commercial – decreased $56.7 million. PPP loan balances decreased $62.3 million and totaled $171.9 million at June 30, 2021.Mortgage – increased $45.1 million.Installment – increased $41.9 million.Mortgage loan portfolio weighted average FICO and LTV of 750 and 77%, respectively and average balance of $195,168.Installment weighted average FICO of 760 and average balance of $22,509.Commercial loan rate mix:61% fixed / 39% variable.Indices – 59% tied to Prime, 38% tied to LIBOR and 3% tied to a US Treasury rate.Mortgage loan (including HECL) rate mix: 58% fixed / 42% adjustable or variable. Indices – 21% tied to Prime, 56% tied to LIBOR , 19% tied to a US Treasury rate and 4% tied to SOFR  Loan Composition – 6/30/21  $2.9B  Yield on Loans (%)/Total Portfolio Loans ($B) 

 COVID-19 Programs – Loan Forbearances  12  Highlights  Loan Forbearances    The table above reflects the status of loan forbearances. The percent of the loan portfolio is based on loan dollars.Loan Forbearances:Forbearance period is generally three months for mortgage and installment loans and three or six months for commercial loans. Retail (mortgage and installment) loan forbearances are primarily principal & interest deferrals.Commercial loan forbearances are primarily principal deferrals only.Forbearance requests peaked in early June 2020 and have since significantly abated.     6/30/2021      3/31/2021      12/31/2020      6/30/2020      % Change from 6/30/20     Loan Type  #  $ (000’s)  % of portfolio  #  $ (000’s)  % of portfolio  #  $ (000’s)  % of portfolio  #  $ (000's)  % of portfolio  #  $   Commercial   -  $ -   0.0%   -  $ -   0.0%  2  $163   0.0%  386  $210,486   15.4%  -100.0%  -100.0%   Mortgage  82  12,416  1.2%  111  15,263  1.5%  134  19,830  2.0%  388  81,212  7.8%  -78.9%  -84.7%   Installment  18  327  0.1%  32  537  0.1%  48  1,412  0.3%  280  7,459  1.6%  -93.6%  -95.6%   Total   100   $12,743  0.5%   143   $15,800  0.6%   184    $21,405   0.8%   1054    $299,157   10.4%  -90.5%  -95.7%                                                Loans serviced for others  150  $20,231  0.6%  205  $26,975  0.9%  288  $42,897   1.4%  773  $114,839   4.2%  -80.6%  -82.4% 

 COVID-19 Programs – Paycheck Protection Program (“PPP”)  13  PPP Loan Portfolio    PPP – Round 1             Description  6/30/2021    3/31/2021    6/30/2020      #  ($ in 000’s)  #  ($ in 000’s)  #  ($ in 000’s)  Loans outstanding at quarter-end  298   $ 42,315  698   $ 105,934   2,012  $ 259,351  Average loans outstanding for the quarter  n/a  78,747  n/a   136,206  n/a  191,061  Cumulative forgiveness applications submitted at quarter-end  1,882  231,715  1,477   183,346  -  -  Cumulative forgiveness applications approved at quarter-end  1,870  229,429  1,354   158,046  -  -  Net fees accreted into interest income during the quarter  n/a  981  n/a   1,853  n/a  977  Net unaccreted fees remaining at quarter-end   n/a  381  n/a   1,362  n/a  7,736  Average loan yield for the quarter   n/a  5.98%  n/a   6.43%  n/a  3.05%    PPP – Round 2         Description  6/30/2021    3/31/2021      #  ($ in 000’s)  #  ($ in 000’s)  Loans outstanding at quarter-end  1,409   $ 129,573  1,250  $ 128,240  Average loans outstanding for the quarter  n/a  133,239  n/a  72,011  Cumulative forgiveness applications submitted at quarter-end  166   8,843  -  -  Cumulative forgiveness applications approved at quarter-end  164   8,828  -  -  Net fees accreted into interest income during the quarter  n/a  832  n/a  229  Net unaccreted fees remaining at quarter-end   n/a  5,429  n/a  5,454  Average loan yield for the quarter   n/a  3.50%  n/a  2.25%  Note: PPP Round 1 loan activity began in the second quarter of 2020. PPP Round 2 loan activity began in the first quarter of 2021. 

 Loans by Industry as a % of Total Commercial Loans ($ in millions)  Investor RE by Collateral Type as a % of Total Commercial Loans ($ in millions)   14  Commercial Loan Portfolio Concentrations  14   Note: $823 million, or 66.1% of the commercial loan portfolio is C&I or owner occupied, while $422 million, or 33.9% is investment real estate. The percentage concentrations are based on the entire commercial portfolio of $1.245 billion as of June 30, 2021 

 Investment Securities Portfolio  15  Highlights  High quality, liquid, diverse portfolio with relatively short duration.Fair value of $1.33 billion, an increase of $83.4 million in 2Q’21.Net unrealized gain of $15.3 million, representing 1.17% of amortized cost.Portfolio ratings: 55% AAA rated (or backed by the U.S. Government); 27% AA rated; 8% A rated; 8% BAA rated and 2% unrated.4.19 year estimated average duration with a weighted average yield of 1.97% (with TE gross up).Approximately 20.4% of the portfolio is variable rate.    $1.3B  Investment Portfolio by Type (6/30/21)  Investment Securities Activity – 2Q’21  Total repayments include $0.37 million of repayments on Treasury/Agency securities not shown in the table.    Agency MBS, CMO & CMBS   Municipal/Govern-ment   Asset-backed  Private Label Mortgage    Corp.    Total     (Dollars in 000’s)            Purchases (at cost)  $9,041  $84,910  $21,066  $30,412  $50,161  $195,590  Repayments (a)  36,945  16,898  54,346  4,061  4,255  116,873  Sales  --  --  --  --  2,999  2,999                Purchases in 2Q’21              Yield (TE)  1.30%  1.53%  0.87%  1.47%  2.29%  1.63%  Duration   5.34%  5.66%  0.95%  5.91%  5.18%  5.05% 

 Strong Capital Position  16   TCE / TA (%)   Leverage Ratio (%)   CET1 Ratio (%)   Total RBC Ratio (%)   IBCP Target 8.50% - 9.50 %  Capital retention to support (i) organic growth and (ii) acquisitions; and Return of capital through (i) strong and consistent dividend and (ii) share repurchases  Long-Term Capital Priorities:  Strong Capital Position 

 HighlightsInterest rate sensitivity profile of the loan and securities portfolios, in combination with a low cost core deposit base, positions us as slightly asset sensitive.Net interest income increased $1.1 million, or 3.7%, in 2Q’21 vs. 1Q’21 due primarily to a $175.6 million increase in average interest earning assets that was partially offset by a 3 basis point decline in the net interest margin. Net interest margin was 3.02% during the second quarter of 2021, compared to 3.36% in the year-ago quarter and 3.05% in the first quarter of 2021.  Yields, NIM and Cost of Funds (%)  Net Interest Income ($ in Millions)   Net Interest Margin/Income  17 

 Linked Quarter Analysis  18  2Q’21 NIM Changes  Linked Quarter Average Balances and FTE Rates   

 Strong Non-interest Income  19  Diverse sources of non-interest income, representing 32.0% of operating revenue in 2Q’21.2Q’21 interchange income of $3.5 million compared to $2.5 million in the prior year quarter. This increase was primarily due to an increase in transaction volume and a new switch contract that was executed in the fourth quarter of 2020. Mortgage banking: $9.1 million in net gains on mortgage loans in 2Q’21 vs. $17.6 million in the year ago quarter. A combination of lower mortgage loan sales volume, reduced profit margins and fair value adjustments led to this decrease.$473.7 million in mortgage loan originations in 2Q’21 vs. $470.6 million in 2Q’20 and $509.0 million in 1Q’21.2Q’21 mortgage loan servicing includes a $2.4 million ($0.09 per diluted share, after tax) decrease in fair value adjustment due to price compared to a decrease of $2.9 million ($0.10 per diluted share, after tax) in the year ago quarter.       Source: Company documents.  $41.2M  2021 YTD Non-interest Income (thousands)  Non-interest Income Trends ($M)  Highlights 

 Focus on Improved Efficiency   20  Source: Company documents.  Non-interest Expense ($M)  Highlights   Efficiency Ratio (4 quarter rolling average)   Compensation and employee benefits expense of $19.9 million compared to $16.3 in the prior year quarter. Compensation (salaries and wages) increased $1.5 million due to raises that were generally effective at the start of the year, increased overtime and staffing due primarily to the data processing conversion and some new positions (particularly new commercial lenders and related support staff). $1.0 million increase in incentive compensation accrual due to an increase in expected payout levels compared to Q2’20. Payroll taxes and employee benefits rose $1.2 million due to higher payroll taxes and an increase in health care costs (2Q’20 was unusually low due to CVOID related lock-downs). Data processing costs increased $1.0 million (approximately one-half of the increase due to cross-over support from old vendor and new vendor during conversion and one-half of the increase due to a decline in a cost savings agreement reimbursement as 2Q’20 included a catch up adjustment).2Q’21 non-interest expense included $1.1 million of conversion related expenses (associated with core data processing conversion that was completed in May 2021).Opportunities exist to gain additional efficiencies as we continue to optimize our delivery channels. 

 Credit Quality Summary  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 $1.63 million of payment plan receivables that were held for sale.  Non-performing Assets ($ in Millions)  ORE/ORA ($ in Millions)  Non-performing Loans ($ in Millions)  30 to 89 Days Delinquent ($ in Millions)  21 

 Classified Assets and New Default Trends  Note: Dollars all in millions.  Total Classified Assets  Commercial Loan New Defaults  Total Loan New Defaults  Retail Loan New Defaults  22 

 Troubled Debt Restructurings (TDRs)  TDR HighlightsWorking with client base to maximize sustainable performance.The specific reserves allocated to TDRs totaled $4.1 million at 6/30/21.A majority of our TDRs are performing under their modified terms but remain in TDR status for the life of the loan.96.1% of TDRs are current as of 6/30/21.Commercial TDR Statistics:17 loans with $4.9 million book balance.100% performing.WAR of 5.16% (accruing loans).Well seasoned portfolio; all of the accruing loans are not only performing but have been for over a year since modification.Retail TDR Statistics:413 loans with $35.7 million book balance.96.7% performing.WAR of 4.08% (accruing loans).Well seasoned portfolio; 99% of accruing loans are not only performing but have been for over a year since modification.  TDRs ($ in Millions)  96% of TDRs are Current  23 

 Note: Dollars all in millions.   Provision for Credit Losses   Loan Net Charge-Offs/Recoveries   Allowance for Credit Losses  Credit Cost Summary  24 

 2021 Outlook Update  Category  Outlook  Lending  Continued growthLoan payoffs related to the Paycheck Protection Program will make loan growth challenging in 2021. The goal of low (1%) single digit overall portfolio loan growth (5% - 7% excluding PPP impact), is based on increases in commercial loans (excluding PPP impact), mortgage loans and consumer loans. This growth forecast also assumes an improving Michigan economy.Q2 Update: Total portfolio loans increased $30.3 million (4.4% annualized) in Q2’21. Growth in retail (mortgage and installment) loans offset a decline in commercial loans that was due to a $62.3 million decrease in PPP loan balances in 2Q’21. Excluding PPP loans, total portfolio loans grew at a 6.2% annualized rate during the first six months of 2021, which approximated the mid-point of our forecasted range.  Net Interest Income  Growth driven primarily by higher average earning assetsIBCP goal of approximately 0.5% increase in net interest income (NII) over 2020. Expect the net interest margin (NIM) to trend lower (0.10% - 0.15%) in 2021 compared to full-year 2020. Primary driver is a reduction in earing asset yield. The forecast assumes no changes in the target federal funds rate in 2021 and long-term interest rates up very slightly over year end 2020 levels. Q2 Update: 2Q’21 net interest income was $0.9 million (3.1%) higher than the prior year quarter. The net interest margin was 3.02% for the quarter down 0.03% from the linked quarter and down 0.34% from the prior year quarter. This primary driver of the decrease in the net interest margin is a higher allocation to lower yielding assets (mix), lower yields on new loan volumes, and lower yields on securities available for sale.   Provision for Credit Losses  Steady asset quality metricsVery 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 1.30% at 12/31/20. The initial (effective 1/1/2021) CECL adjustment is now expected to be approximately $10.5 million to $12.5 million. This CECL adjustment is still subject to certain final review procedures that will be completed in 1Q’21. A full year 2021 provision (expense) for credit losses of approximately 0.25% to 0.35% of average total portfolio loans would not be unreasonable.Q2 Update: The impact from our CECL adoption was an increase to our beginning of the year allowance for credit losses of $11.7 million which was within the disclosed range of $10.5 million to 12.5 million. The provision for credit losses was a credit of $1.4 million in 2Q’21 and was a credit of $1.9 million for the first six months of 2021. If credit quality trends persist it is likely that the full year provision for credit losses will be below our forecasted range of 0.25% to 0.35% of average total portfolio loans.   Non-interest Income  IBCP forecasted 2021 quarterly range of $13 million to $16 million with the total for the year down 30% to 35% from 2020 actual of $80.7 millionExpect mortgage loan origination volumes in 2021 to be down by approximately 30%. Expect overall mortgage banking revenues (gain on sale and mortgage loan servicing) to decline in 2020 due to lower volume as well as margin on loans sold. Expect service charges on deposits and interchange income in 2021 to be collectively comparable to 2020 (i.e. a decline in servicing charges on deposits due to lower NSF fees to be largely offset by an increase in interchange income). Q2 Update: Non-interest income totaled $14.8 million in Q2’21, which was within the forecasted range. 2Q’21 mortgage loan originations, sales and gains totaled $473.7 million, $306.8 million and $9.1 million, respectively. Mortgage loan servicing generated a loss of $2.0 million in Q2’21 due primarily to a negative $2.4 million fair value adjustment due to price. The mortgage loan pipeline continues to be strong although refinance activity is slowing down.   Non-interest Expenses  IBCP forecasted 2021 quarterly range of $28.5 million to $29.5 million with the total for the year down (4%-6%) from the 2020 actual of $122.4 million.Expect total compensation and employee benefits to be lower in 2021 compared to 2020 due primarily to a reduction in incentive compensation. Most other categories of non-interest expense expected to have small (1% to 2%) increases.Q2 Update: Total non-interest expense was $32.5 million in the second quarter of 2021, well above our $28.5 million to $29.5 million targeted quarterly range. Increases in compensation and employee benefits, data processing and conversion related expenses were the primary categories that caused actual non-interest expenses to exceed the target range.  Income Taxes  Approximately a 20% effective income tax rate in 2021. This assumes a 21% statutory federal corporate income tax rate during 2021. Q2 Update: Actual effective income tax rate of 17.7% and 18.4% for 2Q’21 and first six months of 2021, respectively.  Share Repurchases  2021 share repurchase authorization at approximately 5% (1.1 million) of outstanding shares. Expect total share repurchases in 2021 at the mid-point of this authorization.Q2 Update: The Company has repurchased 344,005 shares at an average price of $21.18 during the first six months of 2021.   25 

  Strategic Initiatives  26    Serve consumers and businesses in our markets in an inclusive way with straight forward marketing and outreach efforts and fostering relationships and strong customer engagement.Improve net interest income via balanced loan growth, disciplined risk adjusted loan pricing and active management of deposit pricing. Add new customers and grow revenue through outbound calling.Add new customers and grow revenue through the addition of new talented sales professionals in our existing markets. Supplement our organic growth initiatives via selective and opportunistic bank acquisitions and branch acquisitions.    Growth      Enhance process improvement expertise, enabling all business lines and departments to streamline/automate operating processes and workflows.Successfully complete 2021 core conversion, capitalizing upon opportunity to streamline and improve bank processes.Leverage virtual capabilities to make more effective meetings, training and customer engagement.Optimize branch delivery channel including assessing existing locations, new locations, service hours, staffing, & workflow and leveraging our existing technology. Expand Digital Branch services.Build/enhance dashboard reporting and business intelligence.   Process Improvement & Cost Controls      Create and maintain an engaged workforce through a culture and environment that promotes diversity, equity, inclusion and professional development. Empower and support our team members to serve our customers. Demonstrate that we are committed to the well-being of our team members who ensure our success. This entails recognizing and rewarding contributions, developing new talent via internships, providing coaching and development, and planning for succession and new opportunities.    Talent Management       Produce strong and consistent earnings and capital levels. Maintain good credit quality aided by strong proactive asset quality monitoring and problem resolution.Practice sound risk management with effective reporting to include fair banking and scenario planning.Actively manage and monitor liquidity and interest rate risk.Promote strong, independent & collaborative risk management, utilizing three layers of defense (business unit, risk management and internal audit). Ensure effective operational controls with special emphasis on cyber security, fraud prevention, core system conversion and regulatory compliance.Maintain effective relationships with regulators & other outside oversight parties.   Risk Management    

 Q&A and Closing Remarks  Question and Answer SessionClosing RemarksThank you for attending!NASDAQ: IBCP  27 

XML

Document and Entity Information	Jul. 29, 2021
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Jul. 29, 2021
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
Entity Emerging Growth Company	false
Entity Central Index Key	0000039311
Title of 12(b) Security	Common stock, no par value
Trading Symbol	IBCP
Security Exchange Name	NASDAQ