Independent Bank Corporation Announces 5% Increase in Quarterly Cash Dividend on Common Stock

·1 min read

GRAND RAPIDS, Mich., Jan. 24, 2022 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ: IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that today its Board of Directors declared a quarterly cash dividend on its common stock of 22 cents per share. This dividend is payable on February 15, 2022 to shareholders of record on February 4, 2022. The quarterly dividend represents a 5% increase over the quarterly dividend rate paid for each quarter in 2021.

William B. (“Brad”) Kessel, the President and Chief Executive Officer of Independent Bank Corporation, commented: "Our continued strong capital position provides the foundation for increasing our dividend. As we enter 2022, this strong capital position and our positive outlook on our future supports this dividend increase.”

About Independent Bank Corporation

Independent Bank Corporation (NASDAQ: IBCP) is a Michigan-based bank holding company with total assets of approximately $4.6 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 services. 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.

Contact:

William B. Kessel, President and CEO, 616.447.3933

Gavin A. Mohr, Chief Financial Officer, 616.447.3929




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