ibcp-20230126

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 2022 FOURTH QUARTER RESULTS

Fourth Quarter Highlights

Highlights for the fourth quarter of 2022 include:

•Increases in net income and diluted earnings per share of 20.6% and 22.4%, respectively, over the fourth quarter of 2021;

•An increase in book value and tangible book value per share of $0.72 and $0.74, respectively;

•Net growth in commercial loans of $58.6 million (or 16.5% annualized);

•Annualized return on average assets and average equity of 1.21% and 17.94%, respectively;

•An increase in net interest income of 18.4% over the fourth quarter of 2021; and

•The payment of a 22 cent per share dividend on common stock on November 14, 2022.

GRAND RAPIDS, Mich., January 26, 2023 - Independent Bank Corporation (NASDAQ: IBCP) reported fourth quarter 2022 net income of $15.1 million, or $0.71 per diluted share, versus net income of $12.5 million, or $0.58 per diluted share, in the prior-year period. For the year ended December 31, 2022, the Company reported net income of $63.4 million, or $2.97 per diluted share, compared to net income of $62.9 million, or $2.88 per diluted share, in 2021.

William B. (“Brad”) Kessel, the President and Chief Executive Officer of Independent Bank Corporation, commented: “Our fourth quarter performance capped a very strong year as our entire organization executed extremely well despite a macroeconomic environment with many challenges and uncertainties. This past year with our successful expansion into new markets and addition of new banking talent, we were able to generate strong commercial loan growth and higher net interest income, which enabled us to offset a significant decline in mortgage banking revenue and deliver a higher level of earnings in 2022 than we did in 2021. These results generated a full year return on average assets and return on average equity of 1.31% and 18.41%, respectively. Importantly, we have generated significant growth in our loan portfolio while maintaining sound underwriting criteria, a low level of past dues and net recoveries credited to our allowance in 2022. We continued to see positive trends during the fourth quarter including double-digit annualized growth in our commercial loan portfolio and further expansion in our net interest margin. Given the health of our loan portfolio and our high level of liquidity and reserves, we believe we are well positioned to continue effectively managing through the challenging

economic environment and delivering strong results for our shareholders as we continue to leverage the investments we have made in banking talent and technology over the past several years.”

Significant items impacting comparable 2022 and 2021 results include the following:

•Changes in the fair value due to price of capitalized mortgage loan servicing rights (the “MSR Changes”) of $(0.5) million ($(0.02) per diluted share, after taxes) and $14.3 million ($0.53 per diluted share, after taxes) for the three-month and full-year ended December 31, 2022, respectively, as compared to $0.6 million ($0.02 per diluted share, after taxes) and $3.4 million ($0.12 per diluted share, after taxes) for the three-months and full-year ended December 31, 2021, respectively.

•The provision for credit losses was an expense of $1.4 million ($0.05 per diluted share, after taxes) and $5.3 million ($0.20 per diluted share, after tax) in the fourth quarter and full year ended December 31, 2022, respectively, as compared to an expense of $0.6 million ($0.02 per diluted share, after taxes) and credit of $1.9 million ($(0.07) per diluted share, after tax) in the fourth quarter and full year ended December 31, 2021.

•Net gain on mortgage loans was $1.5 million ($0.06 per diluted share, after taxes) and $6.4 million ($0.24 per diluted share, after tax) in the fourth quarter and full year ended December 31, 2022, respectively, compared to $5.6 million ($0.21 per diluted share, after taxes) and $35.9 million ($1.30 per diluted share, after tax) in the fourth quarter and full year ending December 31, 2021.

Operating Results

The Company’s net interest income totaled $40.6 million during the fourth quarter of 2022, an increase of $6.3 million, or 18.4% from the year-ago period, and up $0.7 million, or 1.8%, from the third quarter of 2022. The Company’s tax equivalent net interest income as a percent of average interest-earning assets (the “net interest margin”) was 3.52% during the fourth quarter of 2022, compared to 3.13% in the year-ago period, and 3.49% in the third quarter of 2022. The year-over-year quarterly increase in net interest income was due to an increase in average interest-earning assets as well as an increase in the net interest margin. Average interest-earning assets were $4.64 billion in the fourth quarter of 2022, compared to $4.43 billion in the year ago quarter and $4.61 billion in the third quarter of 2022.

Non-interest income totaled $11.5 million and $61.9 million, respectively, for the fourth quarter and full year of 2022, compared to $15.8 million and $76.6 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 fourth quarters of 2022 and 2021, were approximately $1.5 million and $5.6 million, respectively. For the full year of 2022, net gains on mortgage loans totaled $6.4 million compared to $35.9 million in 2021. The decrease in net gains on mortgage loans was primarily due to a decrease in the volume of mortgage loans sold and lower profit margins on mortgage loan sales.

Mortgage loan servicing, net, generated income of $0.7 million and $1.3 million in the fourth quarters of 2022 and 2021, respectively. For the full year of 2022 and 2021, mortgage loan servicing, net, generated income of $18.8 million and $5.7 million, respectively. The significant variances in mortgage loan servicing, net is 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				Twelve months ended
	12/31/2022		12/31/2021		12/31/2022		12/31/2021
	(In thousands)
Mortgage loan servicing, net:
Revenue, net	$	2,180	$	2,044	$	8,577	$	7,853
Fair value change due to price	(503)		567		14,272		3,380
Fair value change due to pay-downs	(990)		(1,342)		(4,076)		(5,488)
Total	$	687	$	1,269	$	18,773	$	5,745

Non-interest expenses totaled $32.1 million in the fourth quarter of 2022, compared to $34.0 million in the year-ago period. For the full year of 2022, non-interest expenses totaled $128.3 million versus $131.0 million in 2021. The decrease in costs related to unfunded lending commitments is attributed to decreases in both the volume of such commitments and

expected loss rates. The decrease in other expense is attributed to lower fraud related losses as well as a contract termination cost incurred during the prior year quarter.

The Company recorded an income tax expense of $3.5 million and $14.4 million in the fourth quarter and full year of 2022, respectively. This compares to an income tax expense of $3.0 million and $14.4 million in the fourth quarter and full year of 2021, respectively. The changes in income tax expense principally reflect changes in pre-tax earnings in 2022 relative to 2021.

Asset Quality

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


	12/31/2022			12/31/2021			12/31/2020
Loan Type	(Dollars in thousands)
Commercial	$	38		$	62		$	1,440
Mortgage	4,745			4,914			6,353
Installment	598			569			519
Sub total	5,381			5,545			8,312
Less - government guaranteed loans	1,660			435			439
Total non-performing loans	$	3,721		$	5,110		$	7,873
Ratio of non-performing loans to total portfolio loans	0.11		%	0.18		%	0.29		%
Ratio of non-performing assets to total assets	0.08		%	0.11		%	0.21		%
Ratio of allowance for credit losses to total non-performing loans	1409.16		%	924.70		%	450.01		%

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

The provision for credit losses was an expense of $1.4 million and $0.6 million in the fourth quarters of 2022 and 2021, respectively. The provision for credit losses was an expense of $5.3 million and a credit of $1.9 million in the full year of 2022 and 2021, respectively. The quarterly increase in the provision for credit losses in 2022 compared to 2021, was primarily the result of a change in allocation rates due to subjective factors (prior year allocation rates were decreased while current year rates increased during each respective quarter). The Company recorded loan net recoveries of $0.1 million and net charge-offs of $0.2 million in the fourth quarters of 2022 and 2021, respectively. At December 31, 2022, the allowance for credit losses totaled $52.4 million, or 1.51% of total portfolio loans compared to $47.3 million, or 1.63% of total portfolio loans at December 31, 2021.

Balance Sheet, Liquidity and Capital

Total assets were $5.00 billion at December 31, 2022, an increase of $295.0 million from December 31, 2021. Loans, excluding loans held for sale, were $3.47 billion at December 31, 2022, compared to $2.91 billion at December 31, 2021. Deposits totaled $4.38 billion at December 31, 2022, an increase of $262.0 million from December 31, 2021. This increase is primarily due to growth in savings and interest-bearing checking, reciprocal, time and brokered time deposit account balances that were partially offset by non-interest bearing deposit account balances.

Cash and cash equivalents totaled $74.4 million at December 31, 2022, versus $109.5 million at December 31, 2021. Securities available for sale (“AFS”) totaled $779.3 million at December 31, 2022, versus $1.41 billion at December 31, 2021. The decrease in securities AFS is primarily due to the transfer of $391.6 million of securities AFS to held to maturity on April 1, 2022.

Accrued income and other assets were $128.9 million at December 31, 2022, an increase of $62.8 million from December 31, 2021. The increase is primarily due to the increases in the fair value of certain pay-fixed derivative instruments due to an increase in interest rates and deferred tax assets related to unrealized losses on securities available for sale.

Accrued expenses and other liabilities totaled $108.0 million at December 31, 2022, versus $80.2 million at December 31, 2021. The increase is primarily due to a decrease in the fair value of certain receive-fixed derivative instruments due to an increase in interest rates and an increase in income taxes payable.

Total shareholders’ equity was $347.6 million at December 31, 2022, or 6.95% of total assets compared to $398.5 million or 8.47% at December 31, 2021. Tangible common equity totaled $316.7 million at December 31, 2022, or $15.04 per share compared to $366.8 million or $17.33 per share at December 31, 2021. The decrease in shareholder equity as well as tangible common equity are primarily the result of a decline in accumulated other comprehensive income (loss) related to

unrealized losses on securities available for sale due to a rise in interest rates. The Company’s wholly owned subsidiary, Independent Bank, remains significantly above “well capitalized” for regulatory purposes with the following ratios:


Regulatory Capital Ratios	12/31/2022		12/31/2021		Well Capitalized Minimum

Tier 1 capital to average total assets	8.56	%	8.57	%	5.00	%
Tier 1 common equity to risk-weighted assets	10.97	%	11.80	%	6.50	%
Tier 1 capital to risk-weighted assets	10.97	%	11.80	%	8.00	%
Total capital to risk-weighted assets	12.22	%	13.05	%	10.00	%

Share Repurchase Plan

On December 20, 2022, the Board of Directors of the Company authorized the 2023 share repurchase plan. Under the terms of the 2023 share repurchase plan, the Company is authorized to purchase up to 1,100,000 shares, or approximately 5% of its then outstanding common stock. The repurchase plan is authorized to last through December 31, 2023. For the full year of 2022, the Company repurchased 181,586 shares at a weighted average price of $22.08 per share.

Earnings Conference Call

Brad Kessel, President and CEO, Gavin A. Mohr, CFO and Joel Rahn, EVP – Commercial Banking will review the quarterly results in a conference call for investors and analysts beginning at 11:00 am ET on Thursday, January 26, 2023.

To participate in the live conference call, please dial 1-844-200-6205 (Access Code # 132616). Also, the conference call will be accessible through an audio webcast with user-controlled slides via the following site/URL: https://events.q4inc.com/attendee/209715358.

A playback of the call can be accessed by dialing 1-866-813-9403 (Access Code # 314361). The replay will be available through February 2, 2023.

About Independent Bank Corporation

Independent Bank Corporation (NASDAQ: IBCP) is a Michigan-based bank holding company with total assets of approximately $5.0 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 second-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, 2021 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.

INDEPENDENT BANK CORPORATION AND SUBSIDIARIES

Consolidated Statements of Financial Condition


	December 31,
	2022		2021
	(unaudited)
	(In thousands, except share amounts)
Assets
Cash and due from banks	$	70,180	$	51,069
Interest bearing deposits	4,191		58,404
Cash and Cash Equivalents	74,371		109,473
Securities available for sale	779,347		1,412,830
Securities held to maturity (fair value of $335,418 at December 31, 2022 and $0 at December 31, 2021)	374,818		—
Federal Home Loan Bank and Federal Reserve Bank stock, at cost	17,653		18,427
Loans held for sale, carried at fair value	26,518		55,470
Loans held for sale, carried at lower of cost or fair value	20,367		34,811
Loans
Commercial	1,466,853		1,203,581
Mortgage	1,368,409		1,139,659
Installment	630,090		561,805
Total Loans	3,465,352		2,905,045
Allowance for credit losses	(52,435)		(47,252)
Net Loans	3,412,917		2,857,793
Other real estate and repossessed assets, net	455		245
Property and equipment, net	35,893		36,404
Bank-owned life insurance	55,204		55,279
Capitalized mortgage loan servicing rights, carried at fair value	42,489		26,232
Other intangibles	2,551		3,336
Goodwill	28,300		28,300
Accrued income and other assets	128,904		66,140
Total Assets	$	4,999,787	$	4,704,740

Liabilities and Shareholders’ Equity
Deposits
Non-interest bearing	$	1,269,759	$	1,321,601
Savings and interest-bearing checking	1,973,308		1,897,487
Reciprocal	602,575		586,626
Time	321,492		308,438
Brokered time	211,935		2,938
Total Deposits	4,379,069		4,117,090
Other borrowings	86,006		30,009
Subordinated debt	39,433		39,357
Subordinated debentures	39,660		39,592
Accrued expenses and other liabilities	108,023		80,208
Total Liabilities	4,652,191		4,306,256

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: 21,063,971 shares at December 31, 2022 and 21,171,036 shares at December 31, 2021	320,991		323,401
Retained earnings	119,368		74,582
Accumulated other comprehensive income (loss)	(92,763)		501
Total Shareholders’ Equity	347,596		398,484
Total Liabilities and Shareholders’ Equity	$	4,999,787	$	4,704,740

INDEPENDENT BANK CORPORATION AND SUBSIDIARIES

Consolidated Statements of Operations


	Three Months Ended						Twelve Months Ended
	December 31, 2022		September 30, 2022		December 31, 2021		December 31,
							2022		2021
	(unaudited)
INTEREST INCOME	(In thousands, except per share amounts)
Interest and fees on loans	$	42,093	$	37,092	$	30,316	$	139,057	$	116,644
Interest on securities
Taxable	5,845		5,329		4,114		20,676		14,488
Tax-exempt	2,807		2,284		1,577		8,391		6,102
Other investments	233		220		217		884		846
Total Interest Income	50,978		44,925		36,224		169,008		138,080
INTEREST EXPENSE
Deposits	8,543		3,625		977		14,151		4,465
Other borrowings and subordinated debt and debentures	1,833		1,403		962		5,296		3,850
Total Interest Expense	10,376		5,028		1,939		19,447		8,315
Net Interest Income	40,602		39,897		34,285		149,561		129,765
Provision for credit losses	1,390		3,145		630		5,341		(1,928)
Net Interest Income After Provision for Credit Losses	39,212		36,752		33,655		144,220		131,693
NON-INTEREST INCOME
Interchange income	3,402		4,049		3,306		13,955		14,045
Service charges on deposit accounts	3,153		3,082		2,992		12,288		10,170
Net gains (losses) on assets
Mortgage loans	1,486		2,857		5,600		6,431		35,880
Securities available for sale	—		—		(10)		(275)		1,411
Mortgage loan servicing, net	687		4,283		1,269		18,773		5,745
Other	2,740		2,590		2,614		10,737		9,392
Total Non-interest Income	11,468		16,861		15,771		61,909		76,643
NON-INTEREST EXPENSE
Compensation and employee benefits	20,394		20,601		19,905		81,007		79,969
Data processing	2,670		2,653		2,851		10,183		10,823
Occupancy, net	2,225		2,062		2,216		8,907		8,794
Interchange expense	1,042		927		1,083		4,242		4,434
Furniture, fixtures and equipment	933		987		1,060		4,007		4,172
Communications	629		723		739		2,871		3,080
Loan and collection	679		772		819		2,657		3,172
FDIC deposit insurance	572		591		413		2,142		1,396
Legal and professional	588		573		534		2,133		2,068
Advertising	489		345		599		2,074		1,918
Conversion related expense	—		—		191		50		1,827
Costs (recoveries) related to unfunded lending commitments	(77)		382		844		599		1,207
Other	1,947		1,750		2,700		7,469		8,163
Total Non-interest Expense	32,091		32,366		33,954		128,341		131,023
Income Before Income Tax	18,589		21,247		15,472		77,788		77,313
Income tax expense	3,503		3,950		2,964		14,437		14,418
Net Income	$	15,086	$	17,297	$	12,508	$	63,351	$	62,895
Net income per common share
Basic	$	0.72	$	0.82	$	0.59	$	3.00	$	2.91
Diluted	$	0.71	$	0.81	$	0.58	$	2.97	$	2.88

INDEPENDENT BANK CORPORATION AND SUBSIDIARIES

Selected Financial Data


	December 31, 2022			September 30, 2022			June 30, 2022			March 31, 2022			December 31, 2021
	(unaudited)
	(Dollars in thousands except per share data)
Three Months Ended
Net interest income	$	40,602		$	39,897		$	36,061		$	33,001		$	34,285
Provision for credit losses	1,390			3,145			2,379			(1,573)			630
Non-interest income	11,468			16,861			14,632			18,948			15,771
Non-interest expense	32,091			32,366			32,434			31,450			33,954
Income before income tax	18,589			21,247			15,880			22,072			15,472
Income tax expense	3,503			3,950			2,879			4,105			2,964
Net income	$	15,086		$	17,297		$	13,001		$	17,967		$	12,508

Basic earnings per share	$	0.72		$	0.82		$	0.62		$	0.85		$	0.59
Diluted earnings per share	0.71			0.81			0.61			0.84			0.58
Cash dividend per share	0.22			0.22			0.22			0.22			0.21

Average shares outstanding	21,064,556			21,057,673			21,070,266			21,191,860			21,256,367
Average diluted shares outstanding	21,266,876			21,251,933			21,266,476			21,398,128			21,473,963

Performance Ratios
Return on average assets	1.21		%	1.40		%	1.10		%	1.54		%	1.07		%
Return on average equity	17.94			20.48			15.68			19.38			12.61
Efficiency ratio (1)	60.82			56.26			62.50			59.62			66.68

As a Percent of Average Interest-Earning Assets (1)
Interest income	4.41		%	3.92		%	3.47		%	3.16		%	3.30		%
Interest expense	0.89			0.43			0.21			0.16			0.17
Net interest income	3.52			3.49			3.26			3.00			3.13

Average Balances
Loans	$	3,449,944		$	3,360,621		$	3,145,095		$	2,980,098		$	2,957,985
Securities	1,164,809			1,226,203			1,312,934			1,407,225			1,367,038
Total earning assets	4,637,475			4,610,307			4,493,714			4,492,757			4,433,400
Total assets	4,934,859			4,884,841			4,758,960			4,721,205			4,654,491
Deposits	4,350,748			4,326,958			4,221,047			4,158,528			4,069,901
Interest bearing liabilities	3,159,374			3,075,210			3,005,103			2,950,337			2,863,057
Shareholders' equity	333,610			335,120			332,610			376,010			393,477

End of Period
Capital
Tangible common equity ratio	6.37		%	6.15		%	6.26		%	6.85		%	7.85		%
Average equity to average assets	6.76			6.86			6.99			7.96			8.45
Common shareholders' equity per share of common stock	$	16.50		$	15.78		$	15.73		$	16.79		$	18.82
Tangible common equity per share of common stock	15.04			14.30			14.25			15.31			17.33
Total shares outstanding	21,063,971			21,063,954			21,049,218			21,168,230			21,171,036

Selected Balances
Loans	$	3,465,352		$	3,409,858		$	3,258,850		$	3,004,065		$	2,905,045
Securities	1,154,165			1,183,701			1,241,312			1,400,137			1,412,830
Total earning assets	4,688,246			4,633,876			4,552,185			4,514,590			4,484,987
Total assets	4,999,787			4,931,377			4,826,209			4,761,983			4,704,740
Deposits	4,379,069			4,327,028			4,290,574			4,205,498			4,117,090
Interest bearing liabilities	3,274,409			3,116,027			3,037,278			2,996,112			2,904,447
Shareholders' equity	347,596			332,308			331,134			355,449			398,484

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

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 December 31,						Twelve Months Ended December 31,
	2022			2021			2022			2021
	(Dollars in thousands)
Net Interest Margin, Fully Taxable Equivalent ("FTE")

Net interest income	$	40,602		$	34,285		$	149,561		$	129,765
Add: taxable equivalent adjustment	453			492			1,878			1,866
Net interest income - taxable equivalent	$	41,055		$	34,777		$	151,439		$	131,631
Net interest margin (GAAP) (1)	3.48		%	3.08		%	3.28		%	3.06		%
Net interest margin (FTE) (1)	3.52		%	3.13		%	3.32		%	3.10		%

(1)Annualized.

Tangible Common Equity Ratio


	December 31, 2022			September 30, 2022			June 30, 2022			March 31, 2022			December 31, 2021
	(Dollars in thousands)
Common shareholders' equity	$	347,596		$	332,308		$	331,134		$	355,449		$	398,484
Less:
Goodwill	28,300			28,300			28,300			28,300			28,300
Other intangibles	2,551			2,697			2,871			3,104			3,336
Tangible common equity	$	316,745		$	301,311		$	299,963		$	324,045		$	366,848

Total assets	$	4,999,787		$	4,931,377		$	4,826,209		$	4,761,983		$	4,704,740
Less:
Goodwill	28,300			28,300			28,300			28,300			28,300
Other intangibles	2,551			2,697			2,871			3,104			3,336
Tangible assets	$	4,968,936		$	4,900,380		$	4,795,038		$	4,730,579		$	4,673,104

Common equity ratio	6.95		%	6.74		%	6.86		%	7.46		%	8.47		%
Tangible common equity ratio	6.37		%	6.15		%	6.26		%	6.85		%	7.85		%

Tangible Common Equity per Share of Common Stock:

Common shareholders' equity	$	347,596		$	332,308		$	331,134		$	355,449		$	398,484
Tangible common equity	$	316,745		$	301,311		$	299,963		$	324,045		$	366,848
Shares of common stock outstanding (in thousands)	21,064			21,064			21,049			21,168			21,171

Common shareholders' equity per share of common stock	$	16.50		$	15.78		$	15.73		$	16.79		$	18.82
Tangible common equity per share of common stock	$	15.04		$	14.30		$	14.25		$	15.31		$	17.33

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.

Exhibit 99.2

INDEPENDENT BANK CORPORATION AND SUBSIDIARIES

Supplemental Data

Non-performing assets (1)


	December 31, 2022			September 30, 2022			June 30, 2022			March 31, 2022			December 31, 2021
	(Dollars in thousands)
Non-accrual loans	$	5,381		$	5,307		$	5,859		$	5,893		$	5,545
Loans 90 days or more past due and still accruing interest	—			—			—			—			—
Subtotal	5,381			5,307			5,859			5,893			5,545
Less: Government guaranteed loans	1,660			1,491			1,360			859			435
Total non-performing loans	3,721			3,816			4,499			5,034			5,110
Other real estate and repossessed assets	455			348			508			438			245
Total non-performing assets	$	4,176		$	4,164		$	5,007		$	5,472		$	5,355

As a percent of Portfolio Loans
Non-performing loans	0.11		%	0.11		%	0.14		%	0.17		%	0.18		%
Allowance for credit losses	1.51			1.50			1.47			1.52			1.63
Non-performing assets to total assets	0.08			0.08			0.10			0.11			0.11
Allowance for credit losses as a percent of non-performing loans	1,409.16			1,340.20			1,064.30			906.38			924.70


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

Troubled debt restructurings ("TDR")


	December 31, 2022
	Commercial		Retail (1)			Total
	(In thousands)
Performing TDR's	$	3,155	$	26,000		$	29,155
Non-performing TDR's (2)	—		1,034		(3)	1,034
Total	$	3,155	$	27,034		$	30,189


	December 31, 2021
	Commercial		Retail (1)			Total
	(In thousands)
Performing TDR's	$	4,481	$	31,589		$	36,070
Non-performing TDR's (2)	—		1,016		(3)	1,016
Total	$	4,481	$	32,605		$	37,086


(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


	Twelve months ended December 31,
	2022							2021
	Loans			Securities		Unfunded Commitments		Loans			Securities		Unfunded Commitments
	(Dollars in thousands)
Balance at beginning of period	$	47,252		$	—	$	4,481	$	35,429		$	—	$	1,805
Additions (deductions)
Impact of adoption of ASC 326	—			—		—		11,574			—		1,469
Provision for credit losses	5,173			168		—		(1,928)			—		—
Initial allowance on loans purchased with credit deterioration	—			—		—		134			—		—
Recoveries credited to allowance	2,496			—		—		4,477			—		—
Loans charged against the allowance	(2,486)			—		—		(2,434)			—		—
Recoveries included in non-interest expense	—			—		599		—			—		1,207
Balance at end of period	$	52,435		$	168	$	5,080	$	47,252		$	—	$	4,481

Net loans charged (recovered) against the allowance to average Portfolio Loans	0.00		%					(0.07)		%

Capitalization


	December 31,
	2022		2021
	(In thousands)
Subordinated debt	$	39,433	$	39,357
Subordinated debentures	39,660		39,592
Amount not qualifying as regulatory capital	(657)		(581)
Amount qualifying as regulatory capital	78,436		78,368
Shareholders’ equity
Common stock	320,991		323,401
Retained earnings	119,368		74,582
Accumulated other comprehensive income	(92,763)		501
Total shareholders’ equity	347,596		398,484
Total capitalization	$	426,032	$	476,852


2

Non-Interest Income


	Three months ended						Twelve months ended
	December 31, 2022		September 30, 2022		December 31, 2021		December 31,
							2022		2021
	(In thousands)
Interchange income	$	3,402	$	4,049	$	3,306	$	13,955	$	14,045
Service charges on deposit accounts	3,153		3,082		2,992		12,288		10,170
Net gains (losses) on assets
Mortgage loans	1,486		2,857		5,600		6,431		35,880
Securities	—		—		(10)		(275)		1,411
Mortgage loan servicing, net	687		4,283		1,269		18,773		5,745
Investment and insurance commissions	728		750		708		2,898		2,603
Bank owned life insurance	58		59		156		360		567
Other	1,954		1,781		1,750		7,479		6,222
Total non-interest income	$	11,468	$	16,861	$	15,771	$	61,909	$	76,643

Capitalized Mortgage Loan Servicing Rights


	Three months ended December 31,				Twelve months ended December 31,
	2022		2021		2022		2021
	(In thousands)
Balance at beginning of period	$	43,158	$	24,208	$	26,232	$	16,904
Originated servicing rights capitalized	824		2,799		6,061		11,436
Change in fair value	(1,493)		(775)		10,196		(2,108)
Balance at end of period	$	42,489	$	26,232	$	42,489	$	26,232

Mortgage Loan Activity


	Three months ended									Twelve months ended
	December 31, 2022			September 30, 2022			December 31, 2021			December 31,
										2022			2021
	(Dollars in thousands)
Mortgage loans originated	$	138,889		$	209,041		$	424,563		$	935,807		$	1,861,060
Mortgage loans sold	80,584			157,511			291,196			602,797			1,254,638
Net gains on mortgage loans	1,486			2,857			5,600			6,431			35,880
Net gains as a percent of mortgage loans sold ("Loan Sales Margin")	1.84		%	1.81		%	1.92		%	1.07		%	2.86		%
Fair value adjustments included in the Loan Sales Margin	0.19		%	0.25		%	(0.90)		%	(1.12)		%	(0.52)		%


3

Non-Interest Expense


	Three months ended						Twelve months ended
	December 31, 2022		September 30, 2022		December 31, 2021		December 31,
							2022		2021
	(In thousands)
Compensation	$	12,728	$	12,839	$	11,462	$	50,535	$	44,226
Performance-based compensation	4,147		4,290		4,473		15,875		19,800
Payroll taxes and employee benefits	3,519		3,472		3,970		14,597		15,943
Compensation and employee benefits	20,394		20,601		19,905		81,007		79,969
Data processing	2,670		2,653		2,851		10,183		10,823
Occupancy, net	2,225		2,062		2,216		8,907		8,794
Interchange expense	1,042		927		1,083		4,242		4,434
Furniture, fixtures and equipment	933		987		1,060		4,007		4,172
Communications	629		723		739		2,871		3,080
Loan and collection	679		772		819		2,657		3,172
FDIC deposit insurance	572		591		413		2,142		1,396
Legal and professional	588		573		534		2,133		2,068
Advertising	489		345		599		2,074		1,918
Amortization of intangible assets	146		174		243		785		970
Supplies	125		147		151		556		611
Correspondent bank service fees	67		75		90		299		382
Provision for loss reimbursement on sold loans	—		12		38		57		133
Conversion related expenses	—		—		191		50		1,827
Costs (recoveries) related to unfunded lending commitments	(77)		382		844		599		1,207
Net gains on other real estate and repossessed assets	—		(18)		(28)		(214)		(230)
Other	1,609		1,360		2,206		5,986		6,297
Total non-interest expense	$	32,091	$	32,366	$	33,954	$	128,341	$	131,023


4

Average Balances and Tax Equivalent Rates


	Three Months Ended December 31,
	2022						2021
	Average Balance		Interest		Rate (2)		Average Balance		Interest		Rate (2)
	(Dollars in thousands)
Assets
Taxable loans	$	3,442,621	$	42,023	4.86	%	$	2,949,441	$	30,232	4.08	%
Tax-exempt loans (1)	7,323		89		4.82		8,544		106		4.92
Taxable securities	847,735		5,845		2.76		1,017,291		4,114		1.62
Tax-exempt securities (1)	317,074		3,241		4.09		349,747		2,047		2.34
Interest bearing cash	5,069		48		3.76		89,950		38		0.17
Other investments	17,653		185		4.16		18,427		179		3.85
Interest Earning Assets	4,637,475		51,431		4.41		4,433,400		36,716		3.30
Cash and due from banks	58,485						58,232
Other assets, net	238,899						162,859
Total Assets	$	4,934,859					$	4,654,491

Liabilities
Savings and interest-bearing checking	2,519,294		6,046		0.95		2,409,373		634		0.10
Time deposits	503,081		2,497		1.97		344,744		343		0.39
Other borrowings	136,999		1,833		5.31		108,940		962		3.50
Interest Bearing Liabilities	3,159,374		10,376		1.30	%	2,863,057		1,939		0.27
Non-interest bearing deposits	1,328,373						1,315,784
Other liabilities	113,502						82,173
Shareholders’ equity	$	333,610					$	393,477

Total liabilities and shareholders’ equity	$	4,934,859					$	4,654,491

Net Interest Income			$	41,055					$	34,777

Net Interest Income as a Percent of Average Interest Earning Assets					3.52	%					3.13	%



(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


	Twelve Months Ended December 31,
	2022						2021
	Average Balance		Interest		Rate		Average Balance		Interest		Rate (2)
	(Dollars in thousands)
Assets
Taxable loans	$	3,227,803	$	138,765	4.30	%	$	2,881,950	$	116,358	4.04	%
Tax-exempt loans (1)	7,771		370		4.76		7,240		362		5.00
Taxable securities	945,665		20,676		2.19		915,701		14,488		1.58
Tax-exempt securities (1)	331,322		10,191		3.08		348,346		7,892		2.27
Interest bearing cash	28,773		142		0.49		79,915		112		0.14
Other investments	17,768		742		4.18		18,427		734		3.98
Interest Earning Assets	4,559,102		170,886		3.75		4,251,579		139,946		3.30
Cash and due from banks	59,507						56,474
Other assets, net	207,114						157,524
Total Assets	$	4,825,723					$	4,465,577

Liabilities
Savings and interest-bearing checking	2,526,296		10,278		0.41		2,282,607		2,693		0.12
Time deposits	399,987		3,873		0.97		326,081		1,772		0.54
Other borrowings	121,871		5,296		4.35		108,884		3,850		3.54
Interest Bearing Liabilities	3,048,154		19,447		0.64	%	2,717,572		8,315		0.31
Non-interest bearing deposits	1,338,736						1,288,276
Other liabilities	94,638						69,694
Shareholders’ equity	$	344,195					$	390,035

Total liabilities and shareholders’ equity	$	4,825,723					$	4,465,577

Net Interest Income			$	151,439					$	131,631

Net Interest Income as a Percent of Average Interest Earning Assets					3.32	%					3.10	%



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


6

Commercial Loan Portfolio Analysis as of December 31, 2022


	Total Commercial Loans
			Watch Credits						Percent of Loan Category in Watch Credit
Loan Category	All Loans		Performing		Non-accrual		Total
	(Dollars in thousands)
Land	$	9,285	$	180	$	—	$	180	1.9	%
Land Development	16,220		—		—		—		—
Construction	114,277		—		—		—		—
Income Producing	469,696		6,177		—		6,177		1.3
Owner Occupied	426,404		16,525		—		16,525		3.9
Total Commercial Real Estate Loans	$	1,035,882	$	22,882	$	—	$	22,882	2.2

Other Commercial Loans	$	430,971	$	9,157	38		$	9,195	2.1
Total non-performing commercial loans					$	38

Commercial Loan Portfolio Analysis as of December 31, 2021


	Total Commercial Loans
			Watch Credits						Percent of Loan Category in Watch Credit
Loan Category	All Loans		Performing		Non-accrual		Total
	(Dollars in thousands)
Land	$	13,621	$	114	$	—	$	114	0.8	%
Land Development	14,854		32		—		32		0.2
Construction	67,663		—		—		—		—
Income Producing	402,936		2,215		—		2,215		0.5
Owner Occupied	360,614		21,960		—		21,960		6.1
Total Commercial Real Estate Loans	$	859,688	$	24,321	$	—	$	24,321	2.8

Other Commercial Loans	$	343,893	$	12,546	62		$	12,608	3.7
Total non-performing commercial loans					$	62


7

Independent Bank Corporation Earnings Call Fourth Quarter 2022 January 26, 2023 (NASDAQ: IBCP)

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, 2021 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 Officer – Gavin A. Mohr, Executive Vice President and Chief Financial Officer – Joel Rahn, Executive Vice President – Commercial Banking  Question and Answer session.  Closing Remarks. Note: This presentation is available at www.IndependentBank.com in the Investor Relations area under the “Presentations” tab. 3

4Q22 Overview 4 4Q22 Earnings • Net income of $15.1 million, or $0.71 per diluted share, compared to $12.5 million, or $0.58 per diluted share, in 4Q21 • Pre-tax, pre-provision income of $20.0 million, an increase of 24% from $16.1 million in 4Q21 • Growth in net interest income offset lower net gain on sale of mortgage loans • Strong profitability results in 5.2% increase in tangible book value per share from end of prior quarter Commercial Banking Continues to Generate Solid Loan Growth • 6.6% annualized growth in total loans primarily driven by increase in commercial portfolio • 16.5% annualized growth in commercial portfolio with good diversification across sectors and markets • Expansion into new markets and impact of commercial banker additions generating larger volume of opportunities and resulting in strong commercial loan growth while being selective in new loan production Positive Trends in Key Metrics • Net interest margin increased 3 bps to 3.52% • Asset quality remained exceptional with NPAs/Total Assets stable at 0.08% and net loan recoveries in the quarter, with delinquencies in installment portfolio remaining stable and at low levels • Capital ratios strengthened with bank level Total Capital to Total Risk-weighted Assets Ratio increasing 5 bps to 12.22% Conservative Balance Sheet Management • No shares repurchased during 4Q22 in order to preserve capital to build TCE and support strong organic loan growth • Loan-to-deposit ratio of 79% provides significant liquidity to continue funding loan growth • While asset quality remains excellent, IBCP is well reserved ahead of potential economic weakness with ACL/Total Loans increasing to 1.51%

Low Cost Deposit Franchise Focused on Core Deposit Growth 5  Substantial core funding – $3.85 billion of non-maturity deposit accounts (87.8% of total deposits).  Total deposits increased $262.0 million (6.4%) since 12/31/21 with non-interest bearing down $51.8 million, savings and interest- bearing checking up $75.8 million, reciprocal up $15.9 million and time up $13.1 million.  Deposits by Customer Type: − Retail – 52.8% − Commercial – 33.3% − Municipal – 13.9% Deposit Composition – 12/31/22 Deposit Highlights Michigan Deposit Market Share $4.4B Core Deposits: 87.8% Cost of Deposits (%)/Total Deposits ($B) Note: Core deposits defined as total deposits less maturity deposits. Source: S&P Global deposit market share data based on FDIC Summary of Deposits Annual Survey as of June 30, 2022. Rank 2022 Institution Deposits in Market ($M) Mkt. Share (%) 1 JPMorgan Chase & Co. 69,955 26.4% 2 Huntington Bancshares Inc. 36,160 13.7% 3 Comerica Inc. 33,063 12.5% 4 Bank of America Corp. 30,306 11.5% 5 The PNC Financial Services Group Inc. 21,228 8.0% 6 Fifth Third Bancorp 16,829 6.4% 7 New York Community Bancorp Inc. 13,896 5.3% 8 Citizens Financial Group Inc. 6,830 2.6% 9 Independent Bank Corp. 4,359 1.6% 10 Mercantile Bank Corp. 2,528 1.0% Data: S&P Global Total for Institutions in Market $264,589 Non-interest Bearing 29% Savings and Interest- bearing Checking 45% Reciprocal 14% Time 7% Brokered 5% $3.6 $3.6 $3.9 $3.9 $4.1 $4.1 $4.2 $4.3 $4.3 $4.4 0.23% 0.39% 0.14% 0.12% 0.11% 0.09% 0.07% 0.11% 0.33% 0.77% Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Total Deposits Cost Of Deposits

Historic IBC Cost of Funds (excluding sub debt) vs. the Federal Funds Rate 6 Cumulative Cycle Beta = 16.2%

Diversified Loan Portfolio Focused on High Quality Growth 7 Lending Highlights Note: Portfolio loans exclude loans HFS.  Portfolio loan changes in 4Q’22: − Commercial – increased $58.6 million. − Average new origination yield of 6.39%. − Mortgage – increased $13.5 million. − Average new origination yield of 6.02%. − Installment – decreased $16.7 million. − Average new origination yield of 6.81%.  Mortgage loan portfolio weighted average FICO of 753 and average balance of $172,605.  Installment weighted average FICO of 758 and average balance of $25,227.  Commercial loan rate mix: − 50% fixed / 50% variable. − Indices – 63% tied to Prime, 3% tied to LIBOR, 1% tied to a US Treasury rate and 33% tied to SOFR.  Mortgage loan (including HECL) rate mix: − 65% fixed / 35% adjustable or variable. − 24% tied to Prime, 33% tied to LIBOR, 13% tied to a US Treasury rate and 30% tied to SOFR. Loan Composition – 12/31/22 $3.5B Yield on Loans (%)/Total Portfolio Loans ($B) $2.9 $2.7 $2.8 $2.8 $2.9 $2.9 $3.0 $3.3 $3.4 $3.4 4.14% 4.31% 4.01% 3.95% 4.13% 4.08% 3.82% 4.01% 4.39% 4.90% Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 3Q'22 4Q'22 Total Portfolio Loans Yield on Loans Commercial 42% Mortgage 39% Installment 18% Held for Sale 1%

Loans by Industry as a % of Total Commercial Loans ($ in millions) Investor RE by Collateral Type as a % of Total Commercial Loans ($ in millions) 8 Concentrations within $1.47B Commercial Loan Portfolio 8 Note: $937 million, or 63.9% of the commercial loan portfolio is C&I or owner occupied, while $ 530 million, or 36.1% is investment real estate. The percentage concentrations are based on the entire commercial portfolio of $1.467 billion as of December 31, 2022

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) 9 $13.4 $8.2 $8.6 $9.5 $7.9 $7.1 $5.1 $5.6 $5.1 $5.0 $4.5 $3.8 $3.7 0.4% 0.3% 0.3% 0.3% 0.3% 0.2% 0.2% 0.2% 0.2% 0.2% 0.1% 0.1% 0.0% 0.1% 0.2% 0.3% 0.4% 0.5% 0.6% 0.7% 0.8% 0.9% $0.0 $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 $14.0 $16.0 Non-performing Loans (NPLs) NPLs / Total Loans 1.1% $5.0 $1.6 $1.3 $1.9 $0.8 $0.3 $0.3 $0.2 $0.2 $0.4 $0.5 $0.3 $0.5 $0.0 $1.0 $2.0 $3.0 $4.0 $5.0 $6.0 2016 2017 2018 2019 2020 Q1 Q2 Q3 Q4'21 Q1 Q2 Q3 Q4'22 $5.3 $4.8 $4.4 $7.2 $13.2 $3.9 $3.5 $2.4 $2.3 $2.7 $3.7 $2.3 $3.1 0.3% 0.2% 0.2% 0.3% 0.5% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.0% 0.2% 0.4% 0.6% 0.8% 1.0% 1.2% 1.4% $0.0 $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 $14.0 30-89 Days PD 30-89 Days PD / Loans $18.4 $9.8 $9.9 $11.4 $8.6 $7.4 $5.4 $5.8 $5.3 $5.4 $5.0 $4.2 $4.2 $0.0 $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 $14.0 $16.0 $18.0 $20.0 Non-performing Loans 90+ Days PD ORE/ORA

Strong Capital Position 10 TCE / TA (%) Leverage Ratio (%) CET1 Ratio (%) Total RBC Ratio (%) Strong Capital Position • Long-term capital Priorities: Capital retention to support organic growth, acquisitions and return of capital through strong and consistent dividends and share repurchases. • Well capitalized in all regulatory capital measurements. • 2022 Share Repurchases: • 181,586 shares • $22.08 avg price per share • Tangible common equity ratio excluding the impact of unrealized losses on securities AFS and HTM is 7.93% 8.6 8.2 8.0 7.9 6.9 6.3 6.2 6.4 0 5 10 15 2020 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 12.0 11.7 11.3 11.1 10.7 10.3 10.3 10.4 0 5 10 15 2020 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 9.2 9.0 9.0 8.8 8.8 8.7 8.8 8.9 0 5 10 15 2020 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 16.0 15.5 14.9 14.7 14.2 13.7 13.5 13.6 0 2 4 6 8 10 12 14 16 18 20 2020 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22

Highlights  Net interest income increased $0.7 million in 4Q’22 vs. 3Q’22 due to an increase in average earning assets and an increase in the net interest margin.  Net interest margin was 3.52% during the fourth quarter of 2022, compared to 3.13% in the year-ago quarter and 3.49% in the third quarter of 2022. Yields, NIM and Cost of Funds (%) Net Interest Income ($ in Millions) Net Interest Margin/Income 11 3.62 3.57 3.27 3.22 3.37 3.30 3.16 3.47 3.92 4.41 3.31 3.12 3.05 3.02 3.18 3.13 3.00 3.26 3.49 3.52 0.09 0.09 0.08 0.07 0.08 0.08 0.12 0.77 2.18 3.65 0.23 0.39 0.14 0.12 0.11 0.10 0.10 0.12 0.45 0.92 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 5.00 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Earning Asset Yield Net Interest Margin (FTE) Average Effective FF Yield Cost of Funds $32.0 $31.0 $30.3 $31.4 $33.8 $34.3 $33.0 $36.1 $39.9 $40.6 $25.0 $27.0 $29.0 $31.0 $33.0 $35.0 $37.0 $39.0 $41.0 $43.0 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22

Linked Quarter Analysis 12 4Q’22 NIM Changes Linked Quarter Average Balances and FTE Rates 4Q22 3Q22 Change Avg Bal Inc/Exp Yield Avg Bal Inc/Exp Yield Avg Bal Inc/Exp Yield ($ in thousands) Cash $5,069 $48 3.76% $5,830 $28 1.91% ($761) $20 1.85% Investments 1,182,462 9,271 3.14% 1,243,856 8,248 2.65% (61,394) 1,023 0.48% Commercial loans 1,420,148 20,837 5.82% 1,369,513 17,245 5.00% 50,635 3,592 0.83% Mortgage loans 1,392,198 14,499 4.17% 1,338,283 13,268 3.97% 53,915 1,231 0.20% Consumer loans 637,598 6,776 4.22% 652,825 6,598 4.01% (15,227) 178 0.21% Earning assets $4,637,475 $51,431 4.41% $4,610,307 $45,387 3.92% $27,168 $6,044 0.49% Nonmaturity deposits $2,519,294 $6,046 0.95% $2,548,213 $2,803 0.44% ($28,919) 3,243 0.52% CDARS deposits 34,442 160 1.84% 31,653 30 0.38% 2,789 130 1.47% Retail Time deposits 303,103 891 1.17% 318,731 547 0.68% (15,628) 344 0.49% Brokered deposits 165,536 1,446 3.47% 52,082 245 1.87% 113,454 1,201 1.60% Bank borrowings 57,925 553 3.79% 45,494 282 0.62% 12,431 271 3.17% IBC debt 79,074 1,280 6.42% 79,037 1,121 5.63% 37 159 0.80% Cost of funds $3,159,374 $10,376 1.30% $3,075,210 $5,028 0.65% $84,164 $5,348 0.65% Free funds $1,478,101 $1,535,097 ($56,996) Net interest income $41,055 $40,359 $696 Net interest margin 3.52% 3.49% 0.03% Q3'22 3.49% Increase in investment yield 0.13% Change in loan yield and mix 0.36% Change in funding mix -0.01% Increase in funding costs -0.45% Q4'22 3.52%

• The decrease in the base case modeled NII is due to an adverse shift in the funding mix and higher than modeled betas on interest bearing deposits during the quarter. These changes were partially offset by earning asset growth and a favorable change in earning asset composition. • There was a modest increase in the sensitivity to rising rates during 4Q22. The change in sensitivity is primarily due to a shift in the funding mix with a decline in DDA and savings accounts and an increase in wholesale funding. • Base-rate is a static balance sheet applying the spot yield curve from the valuation date. • Stable core funding base. Transaction accounts fund 42.3% of assets and other non-maturity deposits fund another 22.6% of assets. Moderate wholesale funding of just 7.5% of assets. • 28.0% of assets reprice in 1 month and 41.3% reprice in the next 12 months. • Continually evaluating strategies to manage NII through hedging as well as product pricing and structure. 13Interest Rate Risk Management Changes in Net Interest Income Simulation analyses calculate the change in net interest income over the next twelve months, under immediate parallel shifts in interest rates, based upon a static statement of financial condition, which includes derivative instruments, and does not consider loan fees. -200 -100 Base-rate +100 +200 Net Interest Income 163,958$ 166,618$ 167,349$ 166,977$ 165,771$ Change from Base -2.03% -0.44% - -0.22% -0.94% -200 -100 Base-rate +100 +200 Net Interest Income 164,135$ 167,764$ 169,963$ 170,676$ 170,446$ Change from Base -3.43% -1.29% - 0.42% 0.28% (Dollars in 000's) December 31, 2022 September 30, 2022 (Dollars in 000's)

Strong Non-interest Income 14  Diverse sources of non-interest income, representing 18.4% of operating revenue in 4Q’22.  The $0.2 million comparative quarterly increase in service charges on deposit accounts is primarily attributed to fees related to Treasury Management.  Mortgage banking: − $1.5 million in net gains on mortgage loans in 4Q’22 vs. $5.6 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. − $138.9 million in mortgage loan originations in 4Q’22 vs. $424.6 million in 4Q’21 and $209.0 million in 3Q’22. − 4Q’22 mortgage loan servicing includes a $0.5 million ($0.02 per diluted share, after tax) decrease in fair value adjustment due to price compared to an increase of $0.6 million ($0.02 per diluted share, after tax) in the year ago quarter.Source: Company documents. $61.9M 2022 YTD Non-interest Income (thousands) Non-interest Income Trends ($M) Highlights Interchange income, $13,955 Service Chg Dep, $12,288 Gain (Loss)- Mortgage Sale, $6,431 Gain (Loss)- Securities, $(275) Mortgage loan servicing, net, $18,773 Investment and insurance commissions, $2,898 Bank owned life insurance, $360 Other income, $7,479 $27.0 $22.4 $26.4 $14.8 $19.7 $15.8 $18.9 $14.6 $16.9 $11.5 45.8% 41.9% 46.6% 32.0% 36.8% 30.3% 35.4% 27.6% 27.3% 18.4% 0.0 10.0 20.0 30.0 40.0 50.0 $- $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Non-interest Income Non-interest Inc/Operating Rev (%)

Focus on Improved Efficiency 15 Source: Company documents. Non-interest Expense ($M) Highlights Efficiency Ratio (4 quarter rolling average)  4Q’22 efficiency ratio of 60.8%.  Compensation and employee benefits expense of $20.4 million, an increase of $0.5 million from the prior year quarter.  Compensation (salaries and wages) increased $1.3 million due to raises that were generally effective at the start of the year, a decreased level of compensation that was deferred in the fourth quarter of 2022 as direct origination costs (lower mortgage loan origination volume), and an increase in lending personnel.  $0.3 million decrease in performance based compensation expense accrual.  Payroll taxes and employee benefits decreased $0.5 million due to lower payroll taxes, health care costs and lower mortgage incentives.  Data processing costs decreased by $0.2 million primarily due to lower debit card production costs and lower net mortgage processing costs.  Opportunities exist to gain additional efficiencies as we continue to optimize our delivery channels. $33.6 $32.7 $30.0 $32.5 $34.5 $34.0 $31.5 $32.4 $32.4 $32.1 $- $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Compensation and Benefits Loan and Collection Occupancy Data Processing FDIC Insurance Other Total 59.8% 55.9% 59.9% 61.7% 63.2% 64.8% 63.1% 61.3% 59.8% Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 1Q'22 2Q'22 3Q'22 4Q'22

2022 Outlook Update Category Outlook Lending Continued growth IBCP goal of low double digit (approximately 10%) overall loan growth is based on increases in commercial loans, mortgage loans and consumer loans. Expect much of this growth to occur in the last three quarters of 2022. This growth forecast also assumes an improving Michigan economy. Q4 Update: Total portfolio loans increased $55.5 million (6.5% annualized) in 4Q’22 and $560.3 million (19.3% annualized) for full year 2022 which is higher than our forecasted range. Commercial and mortgage loans had positive growth in the fourth quarter while installment loans decreased. Net Interest Income Growth driven primarily by higher average earning assets The elimination of accelerated fee accretion ($8.9 million in 2021) related to Paycheck Protection Program will make net interest income (NII) growth challenging in 2022. IBCP goal low single digit (1%-3%) growth is primarily supported by an increase in earning assets. Expect the net interest margin (NIM) to trend lower (0.10% - 0.15%) in 2022 compared to full-year 2021. Primary driver is a reduction in earing asset yield. The forecast assumes a 0.25% increase in June and September in the federal funds rate and long-term interest rates up slightly over year end 2021 levels. Q4 Update: 4Q’22 net interest income was $6.3 million (18.4%) higher than the prior year quarter. The net interest margin was 3.52% for the quarter, up 0.03% from the linked quarter and up 0.39% from the prior year quarter. The 18.4% increase in net interest income is due to an increase in average interest-earning assets as well as an increase in net interest margin. Provision for Credit Losses Steady asset quality metrics Very difficult area to forecast. Future provision levels under CECL will be particularly sensitive to loan growth and mix, projected economic conditions, watch credit levels and loan default volumes. The allowance as a percentage of total loans was at 1.63% at 12/31/21. A full year 2022 provision (expense) for credit losses of approximately 0.15% to 0.20% of average total portfolio loans would not be unreasonable. Q4 Update: The provision for credit losses was an expense of $1.4 million (0.16% annualized) in 4Q’22 which was within our forecasted range of an expense of 0.15% to 0.20% of average portfolio loans. The year-to-date provision for credit losses was an expense of $5.3 (0.15%) which is within our forecasted range. The 4Q’22 provision expense was primarily the result of an increase in subjective allocations primarily related to general economic conditions and loan growth. Non-interest Income IBCP forecasted 2022 quarterly range of $13 million to $17 million with the total for the year down 20% to 25% from 2021 actual of $76.6 million Expect mortgage loan origination volumes in 2022 to be down by approximately 21%, interchange income in 2022 to increase approximately 5% as compared to 2021 and service charges on deposits to be collectively comparable to 2021 (a decline in NSF fees to be largely offset by an increase in treasury management related service charges). Q4 Update: Non-interest income totaled $11.5 million in 4Q’22, which was below the forecasted range. 4Q’22 mortgage loan originations, sales and gains totaled $138.9 million, $80.6 million and $1.5 million, respectively. The decrease in net gains on mortgage loans sold was primarily due to lower sales volume and decreased profit margin on mortgage loan sales. Mortgage loan servicing generated a gain of $0.6 million in 4Q’22 due primarily to a an increase in mortgage loan servicing revenue. The $1.3 million (14.3%) comparative year-to-date increase in other income is primarily attributed to a gain on sale ($1.0 million) of two bank owned properties. Non-interest Expenses IBCP forecasted 2022 quarterly range of $30.5 million to $32.5 million with the total for the year down (3%-5%) from the 2021 actual of $131.0 million. The primary driver is a decrease in total compensation and employee benefits due primarily to a reduction in incentive compensation, conversion related expense and costs(recoveries) related to unfunded lending commitments. Q4 Update: : Total non-interest expense was $32.1 million in the fourth quarter of 2022, within our forecasted range. The $0.5 million comparative quarterly increase in compensation and employee benefits was primarily due to lower incentive compensation. The $0.4 million comparative quarterly decrease in data processing expense is primarily related to lower debit card production costs and lower net mortgage processing costs. Income Taxes Approximately an 18.5% effective income tax rate in 2022. This assumes a 21% statutory federal corporate income tax rate during 2022. Q4 Update: Actual effective income tax rate of 18.8 for the 4Q’22 and 18.6% for the full year 2022. Share Repurchases 2022 share repurchase authorization at approximately 5% (1.1 million) of outstanding shares. Expect total share repurchases in 2022 at the mid-point of this authorization. Q4 Update: There were no share repurchases in 4Q’22. The Company repurchased 181,586 (16.5% of repurchase authorization) shares at an average price of $22.08 for the full year of 2022. 16

2023 Outlook Category Outlook Lending Continued growth IBCP goal of low double digit (approximately 10%-12%) overall loan growth is based on increases in commercial loans and mortgage loans with installment loans remaining flat. Expect much of this growth to occur in the last three quarters of 2023. This growth forecast also assumes a stable Michigan economy. Net Interest Income Growth driven primarily by higher average earning assets IBCP goal of high single digit (7%-9%) growth is primarily supported by an increase in earning assets and a favorable shift in the earning asset base. Expect the net interest margin (NIM) to be stable to slightly higher (0.05% - 0.10%) in 2023 compared to full-year 2022. Primary driver is an increase in earing asset yield. The forecast assumes a 0.50% Fed rate increase in February, a 0.25% increase in March and a 0.25% decrease in September and December in the federal funds rate while long-term interest rates decline slightly over year-end 2022 levels. Provision for Credit Losses Steady asset quality metrics Very difficult area to forecast. Future provision levels under CECL will be particularly sensitive to loan growth and mix, projected economic conditions, watch credit levels and loan default volumes. The allowance as a percentage of total loans was at 1.51% at 12/31/22. A full year 2022 provision (expense) for credit losses of approximately 0.25% to 0.35% of average total portfolio loans would not be unreasonable. Non-interest Income IBCP forecasted 2023 quarterly range of $11 million to $13 million with the total for the year down 20% to 25% from 2022 actual of $61.9 million Expect mortgage loan origination volumes in 2023 to be down by approximately 20%, a decline in mortgage loan servicing net of approximately 80%, interchange income in 2022 to increase approximately 2.0% to 3.0% as compared to 2022 and service charges on deposits to be collectively comparable to 2022 (a decline in NSF fees to be largely offset by an increase in treasury management related service charges). Non-interest Expenses IBCP forecasted 2023 quarterly range of $32.0 million to $33.5 million with the total for the year up 1.5% to 2.5% from the 2022 actual of $127.7 million. The primary driver is an increase in data processing and FDIC deposit insurance premiums. Income Taxes Approximately an 18.8% effective income tax rate in 2023. This assumes a 21% statutory federal corporate income tax rate during 2023. Share Repurchases 2023 share repurchase authorization at approximately 5% (1.1 million) of outstanding shares. Share repurchases will be dependent on capital levels, capital allocation options and share price trends. We are not modeling any share repurchases in 2023. 17

Strategic Initiatives 18 • Organic growth through servicing businesses and consumers in our Markets in an inclusive way to include straight forward marketing, improved brand awareness and enhanced outreach efforts that foster strong customer relationships and 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 by leveraging new LPO’s and talented sales staff & outbound calling efforts. • Leverage data analytics for innovative targeted customer acquisitions, retention and cross sales strategies, inside sales efforts and referrals with strategic business unit partners. • 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. • Leverage technology, capitalizing upon core conversion new capabilities, 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 (call center) services. Process Improvement & Cost Controls • Sustain and enhance a constructive culture, supported by a highly engaged workforce that embraces and encourages a diverse, equitable, inclusive and flexible work environment. • Retain and attract top talent. • Align learning and development initiatives in support of bank priorities and employees’ continued growth. • 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. Provide effective ESG (Environmental, Social and Governance) disclosures for investors and other interested parties. Risk Management

Q&A and Closing Remarks Question and Answer Session Closing Remarks Thank you for attending! NASDAQ: IBCP 19

Appendix 20 Additional Financial Data and Non-GAAP Reconciliations

Historical Financial Data 21 Year Ended December 31, ($M except per share data) 2017 2018 2019 2020 2021 2022 5 Year CAGR Balance Sheet: Total Assets $2,789 $3,353 $3,565 $4,204 $4,705 $5,000 12.4% Portfolio Loans $2,019 $2,583 $2,725 $2,734 $2,905 $3,465 11.4% Deposits $2,401 $2,913 $3,037 $3,637 $4,117 $4,379 12.8% Tangible Common Equity $263 $304 $317 $357 $367 $317 3.8% Profitability: Pre-Tax, Pre-Provision Income $39.6 $50.6 $58.6 $81.9 $75.4 $83.1 16.0% Pre-Tax, Pre-Prov / Avg. Assets 1.50% 1.62% 1.70% 2.08% 1.62% 1.68% - Net Income(1) $20.5 $39.8 $46.4 $56.2 $62.9 $63.4 25.4% Diluted EPS $0.95 $1.68 $2.00 $2.53 $2.88 $2.97 25.6% Return on Average Assets(1) 0.77% 1.27% 1.35% 1.43% 1.41% 1.31% - Return on Average Equity(1) 7.82% 12.38% 13.63% 15.68% 16.13% 18.41% - Net Interest Margin (FTE) 3.65% 3.88% 3.80% 3.34% 3.10% 3.32% - Efficiency Ratio 69.20% 67.20% 64.90% 59.24% 62.87% 59.71% - Asset Quality: NPAs / Assets 0.35% 0.29% 0.32% 0.21% 0.11% 0.08% - NPAs / Loans + OREO 0.49% 0.38% 0.42% 0.32% 0.18% 0.12% - Reserves / Total Loans 1.12% 0.96% 0.96% 1.30% 1.63% 1.51% - NCOs / Avg. Loans (0.06%) (0.03%) (0.02%) 0.11% (0.07%) 0.00% - Capital Ratios: TCE Ratio 9.4% 9.2% 9.0% 8.6% 7.9% 6.4% - Leverage Ratio 10.6% 10.5% 10.1% 9.2% 8.8% 8.8% - Tier 1 Capital Ratio 14.0% 13.3% 12.7% 13.3% 12.2% 11.4% - Total Capital Ratio 15.2% 14.3% 13.7% 16.0% 14.7% 13.7% - Shareholder Value: TBV/Share 12.34$ 12.90$ 14.08$ 16.33$ 17.33$ 15.04$ 4.0% Dividends Paid per Share 0.42$ 0.60$ 0.72$ 0.80$ 0.84$ 0.88$ 15.9% Value of Shares Repurchased -$ 12.7$ 26.3$ 14.2$ 17.3$ 4.0$ -

22Non-GAAP to GAAP Reconciliation December 31, September 30, June 30, March 31, December 31, 2022 2021 2020 2019 2022 2022 2022 2022 2021 Net interest income $ 149,561 $ 129,765 $ 123,612 $ 122,581 $ 40,602 $ 39,897 $ 36,061 $ 33,001 $ 34,285 Non-interest income 61,909 76,643 80,745 47,736 11,468 16,861 14,632 18,948 15,771 Non-interest expense 128,341 131,023 122,413 111,733 32,091 32,366 32,434 31,450 33,954 Pre-Tax, Pre-Provision Income 83,129 75,385 81,944 58,584 19,979 24,392 18,259 20,499 16,102 Provision for credit losses 5,341 (1,928) 12,463 824 1,390 3,145 2,379 (1,573) 630 Income tax expense 14,437 14,418 13,329 11,325 3,503 3,950 2,879 4,105 2,964 Net income $ 63,351 $ 62,895 $ 56,152 $ 46,435 $ 15,086 $ 17,297 $ 13,001 $ 17,967 $ 12,508 Average total assets 4,825,723$ 4,465,577$ 3,933,655$ 3,440,232$ 4,934,859$ 4,884,841$ 4,758,960$ 4,721,205$ 4,654,491$ Performance Ratios Return on average assets 1.31% 1.41% 1.43% 1.35% 1.21% 1.40% 1.10% 1.54% 1.07% Pre-tax, Provision return on average assets 1.72% 1.69% 2.08% 1.70% 1.61% 1.98% 1.54% 1.76% 1.37% Year Ended December 31, Quarter Ended (Dollars in thousands)

23 Reconciliation of Non-GAAP Financial Measures 2022 2021 2022 2021 Net Interest Margin, Fully Taxable Equivalent ("FTE") Net interest income 40,602$ 34,285$ 149,561$ 129,765$ Add: taxable equivalent adjustment 453 492 1,878 1,866 Net interest income - taxable equivalent 41,055$ 34,777$ 151,439$ 131,631$ Net interest margin (GAAP) (1) 3.48% 3.08% 3.28% 3.06% Net interest margin (FTE) (1) 3.52% 3.13% 3.32% 3.10% (1) Annualized. Three Months Ended Year Ended December 31, December 31, (Dollars in thousands)

24 Reconciliation of Non-GAAP Financial Measures (continued) Independent Bank Corporation Tangible Common Equity Ratio December 31, September 30, June 30, March 31, December 31, 2022 2021 2020 2019 2022 2022 2022 2022 2021 Common shareholders' equity 347,596$ 398,484$ 389,522$ 350,169$ 347,596$ 332,308$ 331,134$ 355,449$ 398,484$ Less: Goodwill 28,300 28,300 28,300 28,300 28,300 28,300 28,300 28,300 28,300 Other intangibles 2,551 3,336 4,306 5,326 2,551 2,697 2,871 3,104 3,336 Tangible common equity 316,745$ 366,848$ 356,916$ 316,543$ 316,745$ 301,311$ 299,963$ 324,045$ 366,848$ Total assets $ 4,999,787 $ 4,704,740 $ 4,204,013 $ 3,564,694 $ 4,999,787 $ 4,931,377 $ 4,826,209 $ 4,761,983 $ 4,704,740 Less: Goodwill 28,300 28,300 28,300 28,300 28,300 28,300 28,300 28,300 28,300 Other intangibles 2,551 3,336 4,306 5,326 2,551 2,697 2,871 3,104 3,336 Tangible assets $ 4,968,936 $ 4,673,104 $ 4,171,407 $ 3,531,068 $ 4,968,936 $ 4,900,380 $ 4,795,038 $ 4,730,579 $ 4,673,104 Common equity ratio 6.95% 8.47% 9.27% 9.82% 6.95% 6.74% 6.86% 7.46% 8.47% Tangible common equity ratio 6.37% 7.85% 8.56% 8.96% 6.37% 6.15% 6.26% 6.85% 7.85% Year Ended December 31, Quarter Ended (Dollars in thousands)


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)


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

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

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

o			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


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


99.1			Press release dated January 26, 2023.

99.2			Supplemental data to the Registrant’s press release dated January 26, 2023.

99.3			Earnings conference call presentation.