Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.[2]
History
The bank traces its roots to First National Bank of Ionia, which was founded in 1864.
In 1896, relinquished its national charter and obtained a state charter, reorganized as State Savings Bank of Ionia.
in 1952, changed name to First Security Band.
In 1974, Independent Bank Corporation was established as the bank holding company.[3]
In 1985, Independent Bank Corporation joined the NASDAQ stock exchange.[4]
In 2003, the company acquired Mepco Insurance Premium Finance.[5] Mepco was sold in 2017.
In March 2007, the bank acquired 10 branches from TCF Financial Corporation.[6]
In December 2008, the bank received a $72 million investment from the United States Department of the Treasury as part of the Troubled Asset Relief Program. The investment was returned in 2013.[7]
In December 2012, the bank sold 21 branches to Chemical (now TCF Financial Corporation).[8][9]
In 2015, the bank closed 6 branches.[10]
In 2018, the bank acquired Traverse City State Bank.[11]
External links
References
- Independent Bank Corporation's 2020 Annual Report Results 31 December 2020, retrieved 2021-06-09^
- Independent Bank Corporation 2017 Form 10-K Annual Report U.S. Securities and Exchange Commission^
- Institution History for INDEPENDENT BANK CORPORATION (1201925) Federal Financial Institutions Examination Council^
- Independent Bank Corporation [IBCP] President & CEO to Ring The NASDAQ Stock Market Opening Bell ir.independentbank.com, retrieved 2025-07-18^
- In Brief: Mich. Bank to Buy Premium Financier American Banker, February 27, 2003^
- Tom Henderson. TCF Bank Michigan to sell 10 branches to Independent Bank Corp. Crain Communications, November 6, 2006^
- Independent Bank Corporation Exits TARP PR Newswire, September 3, 2013^
- Kathryn Lynch-Morin. Midland-based Chemical Bank acquires 21 branches of Independent Bank Advance Publications, May 24, 2012^
- Chemical Bank Completes Acquisition of 21 Independent Bank Branches in Northeast Michigan and Battle Creek GlobeNewswire, December 10, 2012^
- Jim Harger. Independent Bank Corp. announces 6 branch closings across Michigan Advance Publications, January 23, 2015^
- Independent Bank Corporation Announces Completion of Merger With TCSB Bancorp, Inc. April 2, 2018^