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: August 21, 2020

INDEPENDENT BANK CORPORATION

(Exact name of registrant as specified in its charter)

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):

Securities registered pursuant to Section 12(b) of the Act:

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. ☐

The Board of Directors of Independent Bank Corporation (the “Company”) elected Gavin A. Mohr as the Company’s Chief Financial Officer, effective as of September 14, 2020. Mr. Mohr will also serve as an Executive Vice President of the Company as well as its Treasurer and Secretary. Since April 2016, Mr. Mohr was the Chief Financial Officer of STAR Financial Bank, a $2.1 billion institution located in Fort Wayne, Indiana.

Under the terms of Mr. Mohr’s employment with the Company, he will (a) be paid a base, annual salary of $280,000, (b) be entitled to participate in the Company’s Management Incentive Compensation Plan and Long-Term Incentive Plan, (c) be issued a restricted stock award of 3,000 shares, subject to cliff vesting after three years from the date of grant, (d) be paid a signing bonus of $35,000, one-half of which is payable upon inception of employment and the other one-half of which is payable during January of 2021, and (e) receive a Management Continuity Agreement with the same terms as provided to other executive officers of the Company.

Mr. Mohr will succeed Robert Shuster, the Company’s interim Chief Financial Officer. Mr. Shuster will continue with the Company as Senior Financial Executive until approximately October 31, 2020, to assist in the transition.

(d) Exhibits

Exhibit 99.1   Press release issued August 21, 2020, announcing the hiring of Gavin A. Mohr.

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.

2

Exhibit 99.1

News Release

Independent Bank Corporation

4200 East Beltline

Grand Rapids, MI 49525

616.527.5820

INDEPENDENT BANK CORPORATION

ANNOUNCES HIRING OF NEW CHIEF FINANCIAL OFFICER

GRAND RAPIDS, Mich., August 21, 2020 — Independent Bank Corporation (NASDAQ: IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that Gavin A. Mohr has been hired as the organization’s new Chief Financial Officer, commencing September 14, 2020.  Previously, IBCP announced on June 23, 2020, that Robert Shuster, the current Executive Vice President and Chief Financial Officer of the Corporation and the Bank, had returned on an interim basis following his previous retirement on January 31, 2020.  Mr. Shuster will remain with the organization as a Senior Financial Executive until approximately October 31, 2020 to assist Mr. Mohr with his transition.

William B. (Brad) Kessel, the President and Chief Executive Officer of Independent Bank Corporation, commented:  “We are excited to have Gavin join our organization.  His strong leadership capabilities and excellent technical skills will be a great addition to our team.”

Since April 2016, Mr. Mohr has served as the Chief Financial Officer of STAR Financial Bank (“STAR”), a $2.1 billion bank, located in Fort Wayne, Indiana.  He joined STAR in September 2014 as Treasurer. Prior to joining STAR, Mr. Mohr served as Treasurer of Yadkin Bank and Trust (Statesville, North Carolina) and began his career in 2007 with Tower Financial Corporation (Fort Wayne, Indiana). Mr. Mohr holds a B.A in Finance degree from Miami University (Oxford, Ohio) and an M.B.A. from Indiana University (Fort Wayne, Indiana).

About Independent Bank Corporation

Independent Bank Corporation (NASDAQ: IBCP) is a Michigan-based bank holding company with total assets of approximately $4.0 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, insurance and title 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.