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

2020 FOURTH QUARTER AND FULL YEAR RESULTS

GRAND RAPIDS, Mich., Jan. 28, 2021 - Independent Bank Corporation (NASDAQ: IBCP) reported fourth quarter 2020 net income of $17.0 million, or $0.77 per diluted share, versus net income of $13.9 million, or $0.61 per diluted share, in the prior-year period. For the year ended December 31, 2020, the Company reported net income of $56.2 million, or $2.53 per diluted share, compared to net income of $46.4 million, or $2.00 per diluted share, in 2019. The increase in 2020 fourth quarter and full-year 2020 earnings as compared to 2019 primarily reflects increases in non-interest income that were partially offset by a decrease in interest income and an increase in non-interest expense and income tax expense.

Fourth quarter 2020 highlights include:

•

Increases in net income and diluted earnings per share of 22.4% and 26.2%, respectively, compared to 2019;

•

Return on average assets and return on average equity of 1.61% and 17.82%, respectively, compared to 1.56% and 15.92%, respectively, in 2019;

•

Net gains on mortgage loans of $15.9 million (up 148.5% over 2019) and total mortgage loan origination volume of $502.5 million;

•

Deposit net growth of $39.6 million (or 1.1%);

•

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

•

COVID related forbearances declined to 0.83% of total loans; and

•

The payment of a 20 cent per share dividend on common stock on November 16, 2020.

Full year 2020 highlights include:

•

Increases in net income and diluted earnings per share of 20.9% and 26.3%, respectively, compared to 2019;

•

Return on average assets and return on average equity of 1.43% and 15.68 %, respectively, compared to 1.35% and 13.63%, respectively, in 2019;

•

Net gains on mortgage loans of $62.6 million (up 213.1% over 2019) and total mortgage loan origination volume of $1.8 billion;

•

Deposit net growth of $600.6 million (or 19.8 %); and

•

Tangible common equity per share increased by 16% to $16.33 from $14.08.

Significant items impacting comparable quarterly and year to date 2020 and 2019 results include the following:

•

As a result of hedge de-designation the company realized an increase in interest expense of $1.6 million ($0.06 per diluted share, after tax) due to accelerated amortization of deferred losses on certain derivative instruments. As cash flow hedges these losses were previously recorded in accumulated other comprehensive income (loss).

•

Changes in the fair value due to price of capitalized mortgage loan servicing rights (the “MSR Changes”) of a negative $0.9 million ($0.03 per diluted share, after taxes) and a negative $10.8 million ($0.39 per diluted share, after taxes) for the three-months and full-year ended December 31, 2020, respectively, as compared to a positive $0.6 million ($0.02 per diluted share, after taxes) and a negative $6.4 million ($0.22 per diluted share, after taxes) for the three-months and full year ended December 31, 2019, respectively.

•

Approximately $1.54 million ($0.06 per diluted share, after taxes) and $3.0 million ($0.11 per diluted share, after taxes) of expenses related to the ongoing data processing conversion and the completed bank branch closures (as described further below under “Operating Results”) for the three-months and full-year ended December 31, 2020, respectively.

William B. (“Brad”) Kessel, the President and Chief Executive Officer of Independent Bank Corporation, commented: “We are pleased to report very strong financial performance in the fourth quarter and for the full-year 2020 as we continue to navigate the many challenges brought on by the COVID-19 pandemic. Our associates continued their amazing efforts during this quarter! We closed over one-half billion dollars of mortgage loans, helping our customers buy new homes or refinance existing mortgage loans. We assisted our customers in completing and submitting PPP forgiveness applications to the SBA, with over 38% of outstanding balances submitted. We continued to effectively operate our Business Continuity Plan to safely serve our customers and protect our employees. Finally, we maintained solid asset quality metrics during the fourth quarter of 2020. COVID-19 related loan forbearance balances decreased by 62.7% during the fourth quarter of 2020. As we look ahead to 2021 and beyond, we are mindful of the ongoing challenges from the COVID-19 pandemic, however, we are confident of our continued ability to effectively respond to these challenges and remain optimistic about our future.”

COVID-19 Pandemic Update

The Company continues to respond to the challenges arising from the COVID-19 pandemic. Our response was initially formulated during the month of February 2020 as we prepared our infrastructure to allow the majority of our associates to work remotely. In March 2020 we activated our Business Continuity Plan to protect our customers, employees and business. We will continue to take the necessary steps to serve our communities while doing our part to minimize the spread of COVID-19. The following is a brief description of our current initiatives:

•

Customer Safety and Service Levels – From mid-March 2020 to mid-June 2020 we limited our branch lobbies to appointment only and kept drive-through windows open. In mid-June 2020 our bank branch lobbies fully reopened. On November 13, 2020 we again limited our branch lobbies to appointment only in response to increasing COVID-19 cases in the State of Michigan. Branch lobbies were reopened January 4, 2021. With the ability to use drive through service, ATMs or our electronic banking solutions there was minimal disruption to our customers.

•

Employee Safety – For employees that are in our bank branches servicing our customers, we have expanded sick and vacation time. All non-branch employees either have the option or are required to work remotely. We currently have approximately 38% of our total staff working remotely every day. We have installed “customer friendly” shields throughout our delivery network and have implemented a variety of other protective processes to promote the safety of our employees and put both customers and staff at ease.

•

Loan Forbearances – We have forbearance programs in place to proactively work with our customers who have experienced financial difficulty due to the COVID-19 pandemic. Totals for these programs by loan type are presented in the table below under the caption “Asset Quality”. The level of these loans is down significantly after peaking in mid-June 2020, as many customers’ economic situations have improved, allowing them to pay their loans current or return to their original payment terms.

•

U.S. Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”) – We built an effective process to manage the high volume of applications that we received. Customer demand for this program was extraordinary. As of December 31, 2020, we had 1,483 PPP loans outstanding with a total balance of $169.8 million. The average balance of PPP loans in the fourth quarter of 2020 was $220.2 million with an average yield of 6.91% (including the accretion of approximately $3.3 million of net of fees). At December 31, 2020, there was $3.2 million remaining unaccreted net fees related to PPP loans. These net fees are expected to be accreted into interest income over the next 6 months, and the pace of such accretion will depend on payment activity (including loan forgiveness) within the PPP loan portfolio. As of December 31, 2020, 808 forgiveness applications (totaling $123.0 million) have been submitted to the SBA with 751 (totaling $92.0 million) applications approved. We are currently taking applications for the second round of the Paycheck Protection Program.

Operating Results

The Company’s net interest income totaled $31.0 million during the fourth quarter of 2020, an increase of $0.3 million, or 0.9% from the year-ago period, and down $1.0 million, or 3.0%, from the third quarter of 2020. The Company realized an increase in interest expense of $1.6 million due to accelerated amortization of deferred loss on certain derivative instruments that have been de-designated. The Company’s tax equivalent net interest income as a percent of average interest-earning assets (the “net interest margin”) was 3.12% during the fourth quarter of 2020, compared to 3.70% in the year-ago period, and 3.31% in the third quarter of 2020. The year-over-year quarterly increase in net interest income is 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 $3.98 billion in the fourth quarter of 2020, compared to $3.32 billion in the year ago quarter and $3.89 billion in the third quarter of 2020.

For the full year 2020, net interest income totaled $123.6 million, an increase of $1.0 million, or 0.8% from 2019. The Company’s net interest margin for the full year of 2020 was 3.34% compared to 3.80% in 2019. The increase in net interest income for the full year of 2020 compared to 2019 is also due to an increase in average interest-earning assets that was largely offset by a decline in the net interest margin.

Due 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 actions have placed continued pressure on the Company’s net interest margin.

Non-interest income totaled $22.4 million and $80.7 million, respectively, for the fourth quarter and full year 2020, compared to $15.6 million and $47.7 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 2020 and 2019, were approximately $15.9 million and $6.4 million, respectively. For full year 2020, net gains on mortgage loans totaled $62.6 million compared to $20.0 million in 2019. The increase in net gains on mortgage loans in 2020 was primarily due to a significant increase in mortgage loan sales volume (principally reflecting the rise in mortgage loan refinance levels), as well as improved profit margins on mortgage loan sales and fair value adjustments on the mortgage loan pipeline.

Mortgage loan servicing, net, generated a loss of $0.4 million and a gain of $1.3 million in the fourth quarters of 2020 and 2019, respectively. For full year 2020 and 2019, mortgage loan servicing, net, generated a loss of $9.4 million and $3.3 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						Twelve Months Ended
	12/31/2020			12/31/2019			12/31/2020			12/31/2019
Mortgage loan servicing, net:				(Dollars in thousands)
Revenue, net	$	1,812		$	1,622		$	6,874		$	6,196
Fair value change due to price		(892	)		628			(10,833	)		(6,408	)
Fair value change due to pay-downs		(1,304	)		(902	)		(5,391	)		(3,124	)
Total	$	(384	)	$	1,348		$	(9,350	)	$	(3,336	)

Non-interest expenses totaled $32.7 million in the fourth quarter of 2020, compared to $29.3 million in the year-ago period. For full year 2020, non-interest expenses totaled $122.4 million versus $111.7 million in 2019. These year-over-year increases in non-interest expense are primarily due to increases in compensation and employee benefits, FDIC deposit insurance and data processing conversion related expenses. Full year 2020 performance based compensation expense increased $7.7 million primarily as a result of actual performance relative to established management incentive plan targets. The fourth quarter and full year 2020 includes $1.5 million and $2.6 million, respectively, of expenses related to the Company’s core data processing conversion that is in process (this conversion is expected to be completed in April 2021). The full-year 2020 non-interest expense also includes $0.4 million of expenses (primarily write-downs of fixed assets and leases) related to the closures of eight bank branch offices that occurred in June and July 2020.

The Company recorded an income tax expense of $4.1 million and $13.3 million in the fourth quarter and full-year 2020, respectively. This compares to an income tax expense of $3.3 million and $11.3 million in the fourth quarter and full-year 2019, respectively. The changes in income tax expense primarily reflect changes in pre-tax earnings in 2020 relative to 2019.

Asset Quality

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

	12/31/20							9/30/20							% change vs. prior quarter
Loan Type		#		$(000’s)	% of portfolio				#	$ (000's)		% of portfolio				#		$
Loans serviced for others		288	$	42,897		1.4	%		416	$	66,279		2.3	%		(30.8	)%	(35.3	)%

Commercial		2	$	163		0.0	%		17	$	25,105		1.9	%		(88.2	%)	(99.4	%)
Mortgage		134		19,830		2.0	%		197		32,091		3.1	%		(32.0	)%	(38.2	)%
Installment		48		1,412		0.3	%		97		2,631		0.5	%		(50.5	)%	(46.3	)%
Total		184	$	21,405		0.8	%		311	$	59,827		2.1	%		(40.8	)%	(64.2	)%

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	12/31/2020			12/31/2019			12/31/2018
	(Dollars in thousands)
Commercial	$	1,440		$	1,377		$	2,220
Mortgage		6,353			7,996			6,033
Installment		519			805			781
Subtotal		8,312			10,178			9,034
Less – government guaranteed loans		439			646			460
Total non-performing loans	$	7,873		$	9,532		$	8,574
Ratio of non-performing loans to total portfolio loans		0.29	%		0.35	%		0.33	%
Ratio of non-performing assets to total assets		0.21	%		0.32	%		0.29	%
Ratio of the allowance for loan losses to non-performing loans		450.01	%		274.32	%		290.27	%

(1)

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

Non-performing loans have decreased $1.7 million from December 31, 2019, due primarily to a decrease in non-performing mortgage loans.

The provision for loan losses was a credit of $0.4 million and $0.2 million in the fourth quarters of 2020 and 2019, respectively. The provision for loan losses was an expense of $12.5 million and 0.8 million for the full-year 2020 and 2019, respectively. The level of the provision for loan losses in each period reflects the Company’s overall assessment of the allowance for loan losses, taking into consideration factors such as loan growth, loan mix, levels of non-performing and classified loans, loan forbearances and loan net charge-offs. In addition, the higher 2020 full-year provision for loan losses includes an $11.2 million (or 128.3%) increase in the qualitative/subjective portion of the allowance for loan losses. This increase principally reflects the unique challenges and economic uncertainty resulting from the COVID-19 pandemic and the potential impact on the loan portfolio that is not otherwise captured elsewhere within the allowance for loan losses. The Company recorded loan net recoveries of $0.1 million and loan net charge offs of $3.2 million in the fourth quarter and full-year 2020, respectively. This compares to loan net recoveries of $0.2 million and $0.4 million, in the fourth quarter and full-year 2019, respectively. At December 31, 2020, the allowance for loan losses totaled $35.4 million, or 1.30% of total portfolio loans, compared to $26.1 million, or 0.96% of total portfolio loans, at December 31, 2019. Excluding PPP loans and the remaining Traverse City State Bank acquired loan balances, the allowance for loan losses was equal to 1.43% of portfolio loans at December 31, 2020.

The provision for the loan loss was calculated utilizing the incurred model for the full year 2020. The adoption of CECL was delayed following the updated guidance included in the second COVID-19 relief bill passed in December 2020. The Company is expecting to adopt CECL on January 1, 2021 as allowed under the CARES Act extension. We expect to recognize an cumulative effect adjustment through retained earnings increasing the allowance for loan losses. We are estimating this increase to the allowance for loan losses to be in the range of $10.5 million to $12.5 million.

Balance Sheet, Liquidity and Capital

Total assets were $4.2 billion at December 31, 2020, an increase of $639.3 million from December 31, 2019. Loans, excluding loans held for sale, were $2.73 billion at December 31, 2020, compared to $2.73 billion at December 31, 2019. Deposits totaled $3.64 billion at December 31, 2020, an increase of $600.6 million from December 31, 2019. 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 $118.7 million at December 31, 2020, versus $65.3 million at December 31, 2019. Securities available for sale totaled $1.1 billion at December 31, 2020, versus $518.4 million at December 31, 2019. The significant increase in securities available for sale is due to the deployment of funds generated from the growth in deposits.

In May 2020, the Company issued $40.0 million of subordinated notes with a ten year maturity, a five year call option and an initial coupon interest rate (fixed for the first five years) of 5.95%.

Total shareholders’ equity was $389.5 million at December 31, 2020, or 9.27% of total assets. Tangible common equity totaled $356.9 million at December 31, 2020, or $16.33 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	12/31/2020			12/31/2019			Well Capitalized Minimum
Tier 1 capital to average total assets		8.81	%		9.49	%		5.00	%
Tier 1 common equity to risk-weighted assets		12.81	%		11.96	%		6.50	%
Tier 1 capital to risk-weighted assets		12.81	%		11.96	%		8.00	%
Total capital to risk-weighted assets		14.06	%		12.96	%		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.

Due primarily to the economic uncertainty brought on by the COVID-19 pandemic, the Company suspended its share repurchase plan in March 2020. However, as a result of the Company’s strong financial performance and improved economic conditions, the Company reactivated the share repurchased plan in the fourth quarter of 2020 and acquired 30,027 shares at a weighted average price of $14.90. For the full-year 2020 the Company repurchased 708,956 shares at a weighted average price of $20.07.

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 11:00 am ET on Thursday, January 28, 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/ibcp210128.html.

A playback of the call can be accessed by dialing 1-877-344-7529 (Conference ID # 10150378). The replay will be available through February 4, 2021.

About Independent Bank Corporation

Independent Bank Corporation (NASDAQ: IBCP) is a Michigan-based bank holding company with total assets of approximately $4.2 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, 2019 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,
	2020			2019
	(unaudited)
	(In thousands, except share
	amounts)
Assets
Cash and due from banks	$	56,006		$	53,295
Interest bearing deposits		62,699			12,009
Cash and Cash Equivalents		118,705			65,304
Interest bearing deposits - time		-			350
Securities available for sale		1,072,159			518,400
Federal Home Loan Bank and Federal Reserve Bank stock, at cost		18,427			18,359
Loans held for sale, carried at fair value		92,434			69,800
Loans
Commercial		1,242,415			1,166,695
Mortgage		1,015,926			1,098,911
Installment		475,337			459,417
Total Loans		2,733,678			2,725,023
Allowance for loan losses		(35,429	)		(26,148	)
Net Loans		2,698,249			2,698,875
Other real estate and repossessed assets		766			1,865
Property and equipment, net		36,127			38,411
Bank-owned life insurance		55,180			55,710
Capitalized mortgage loan servicing rights		16,904			19,171
Other intangibles		4,306			5,326
Goodwill		28,300			28,300
Accrued income and other assets		62,456			44,823
Total Assets	$	4,204,013		$	3,564,694

Liabilities and Shareholders' Equity
Deposits
Non-interest bearing	$	1,153,473		$	852,076
Savings and interest-bearing checking		1,526,465			1,186,745
Reciprocal		556,185			431,027
Time		287,402			376,877
Brokered time		113,830			190,002
Total Deposits		3,637,355			3,036,727
Other borrowings		30,012			88,646
Subordinated debt		39,281			-
Subordinated debentures		39,524			39,456
Accrued expenses and other liabilities		68,319			49,696
Total Liabilities		3,814,491			3,214,525

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: 21,853,800 shares at December 31, 2020 and 22,481,643 shares at December 31, 2019		339,353			352,344
Retained earnings		40,145			1,611
Accumulated other comprehensive income (loss)		10,024			(3,786	)
Total Shareholders’ Equity		389,522			350,169
Total Liabilities and Shareholders’ Equity	$	4,204,013		$	3,564,694

INDEPENDENT BANK CORPORATION AND SUBSIDIARIES

Consolidated Statements of Operations

	Three Months Ended									Twelve Months Ended
	December 31,			September 30,			December 31,			December 31,
	2020			2020			2019			2020			2019
	(unaudited)
Interest Income	(In thousands, except per share amounts)
Interest and fees on loans	$	31,139		$	30,393		$	33,140		$	123,159		$	133,883
Interest on securities available for sale
Taxable		3,299			3,450			3,031			12,655			11,842
Tax-exempt		789			954			325			2,926			1,342
Other investments		235			237			412			1,089			1,861
Total Interest Income		35,462			35,034			36,908			139,829			148,928
Interest Expense
Deposits		3,516			2,062			5,487			12,666			23,425
Other borrowings and subordinated debt and debentures		953			1,006			711			3,551			2,922
Total Interest Expense		4,469			3,068			6,198			16,217			26,347
Net Interest Income		30,993			31,966			30,710			123,612			122,581
Provision for loan losses		(421	)		975			(221	)		12,463			824
Net Interest Income After Provision for Loan Losses		31,414			30,991			30,931			111,149			121,757
Non-interest Income
Service charges on deposit accounts		2,218			2,085			2,885			8,517			11,208
Interchange income		2,819			3,428			2,553			11,230			10,297
Net gains on assets
Mortgage loans		15,873			20,205			6,388			62,560			19,978
Securities available for sale		14			-			3			267			307
Mortgage loan servicing, net		(384	)		(644	)		1,348			(9,350	)		(3,336	)
Other		1,823			1,937			2,420			7,521			9,282
Total Non-interest Income		22,363			27,011			15,597			80,745			47,736
Non-interest Expense
Compensation and employee benefits		20,039			21,954			18,546			74,781			67,501
Occupancy, net		2,120			2,199			2,216			8,938			9,013
Data processing		2,374			2,215			2,308			8,534			8,905
Furniture, fixtures and equipment		964			999			1,055			4,089			4,113
Interchange expense		926			831			883			3,342			3,215
Communications		785			806			728			3,194			2,947
Loan and collection		708			768			709			3,037			2,685
Conversion related expenses		1,541			643			-			2,586			-
Advertising		594			589			515			2,230			2,450
Legal and professional		600			566			533			2,027			1,814
FDIC deposit insurance		385			411			(38	)		1,596			685
Branch closure costs		-			-						417			-
Correspondent bank service fees		101			101			111			395			411
Net (gains) losses on other real estate and repossessed assets		(82	)		46			(63	)		64			(90	)
Other		1,652			1,513			1,800			7,183			8,084
Total Non-interest Expense		32,707			33,641			29,303			122,413			111,733
Income Before Income Tax		21,070			24,361			17,225			69,481			57,760
Income tax expense		4,084			4,777			3,346			13,329			11,325
Net Income	$	16,986		$	19,584		$	13,879		$	56,152		$	46,435
Net Income Per Common Share
Basic	$	0.78		$	0.90		$	0.62		$	2.56		$	2.03
Diluted	$	0.77		$	0.89		$	0.61		$	2.53		$	2.00

INDEPENDENT BANK CORPORATION AND SUBSIDIARIES

Selected Financial Data

	December 31, 2020			September 30, 2020			June 30, 2020			March 31, 2020			December 31, 2019
	(unaudited)
	(Dollars in thousands except per share data)
Three Months Ended
Net interest income	$	30,993		$	31,966		$	30,462		$	30,191		$	30,710
Provision for loan losses		(421	)		975			5,188			6,721			(221	)
Non-interest income		22,363			27,011			20,367			11,004			15,597
Non-interest expense		32,707			33,641			27,346			28,719			29,303
Income before income tax		21,070			24,361			18,295			5,755			17,225
Income tax expense		4,084			4,777			3,523			945			3,346
Net income	$	16,986		$	19,584		$	14,772		$	4,810		$	13,879

Basic earnings per share	$	0.78		$	0.90		$	0.67		$	0.22		$	0.62
Diluted earnings per share		0.77			0.89			0.67			0.21			0.61
Cash dividend per share		0.20			0.20			0.20			0.20			0.18

Average shares outstanding		21,866,326			21,881,562			21,890,761			22,271,412			22,481,551
Average diluted shares outstanding		22,112,829			22,114,692			22,113,187			22,529,370			22,776,908

Performance Ratios
Return on average assets		1.61	%		1.90	%		1.54	%		0.54	%		1.56	%
Return on average equity		17.82			21.36			17.39			5.54			15.92
Efficiency ratio ⁽¹⁾		60.59			56.36			53.07			69.32			62.56

As a Percent of Average Interest-Earning Assets⁽¹⁾
Interest income		3.57	%		3.62	%		3.72	%		4.28	%		4.44	%
Interest expense		0.45			0.31			0.36			0.65			0.74
Net interest income		3.12			3.31			3.36			3.63			3.70

Average Balances
Loans	$	2,876,795		$	2,925,872		$	2,913,857		$	2,766,770		$	2,776,037
Securities available for sale		1,009,578			891,975			660,126			527,395			488,016
Total earning assets		3,984,080			3,887,455			3,659,614			3,350,948			3,320,828
Total assets		4,195,546			4,102,318			3,868,408			3,565,829			3,529,744
Deposits		3,632,758			3,559,070			3,303,302			3,066,298			3,040,099
Interest bearing liabilities		2,574,306			2,532,481			2,402,361			2,309,995			2,251,928
Shareholders' equity		379,232			364,714			341,606			348,963			345,910

End of Period
Capital
Tangible common equity ratio		8.56	%		8.23	%		8.03	%		8.40	%		8.96	%
Average equity to average assets		9.04			8.89			8.83			9.79			9.80
Common shareholders' equity per share of common stock	$	17.82		$	17.05		$	16.23		$	15.33		$	15.58
Tangible common equity per share of common stock		16.33			15.55			14.72			13.81			14.08
Total shares outstanding		21,853,800			21,885,368			21,880,183			21,892,001			22,481,643

Selected Balances
Loans	$	2,733,678		$	2,855,479		$	2,866,663		$	2,718,115		$	2,725,023
Securities available for sale		1,072,159			985,050			856,280			594,284			518,400
Total earning assets		3,979,397			3,962,824			3,833,523			3,416,845			3,343,941
Total assets		4,204,013			4,168,944			4,043,315			3,632,387			3,564,694
Deposits		3,637,355			3,597,745			3,485,125			3,083,564			3,036,727
Interest bearing liabilities		2,553,418			2,515,185			2,456,193			2,350,056			2,312,753
Shareholders' equity		389,522			373,092			355,123			335,618			350,169

(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,
	2020			2019			2020			2019
	(Dollars in thousands)
Net Interest Margin, Fully Taxable Equivalent ("FTE")

Net interest income	$	30,993		$	30,710		$	123,612		$	122,581
Add: taxable equivalent adjustment		221			104			823			423
Net interest income - taxable equivalent	$	31,214		$	30,814		$	124,435		$	123,004
Net interest margin (GAAP) ⁽¹⁾		3.10	%		3.68	%		3.32	%		3.79	%
Net interest margin (FTE) ⁽¹⁾		3.12	%		3.70	%		3.34	%		3.80	%

(1)	Annualized for three months ended December 31, 2020 and 2019.

Tangible Common Equity Ratio

	December 31, 2020			September 30, 2020			June 30, 2020			March 31, 2020			December 31, 2019
	(Dollars in thousands)
Common shareholders' equity	$	389,522		$	373,092		$	355,123		$	335,618		$	350,169
Less:
Goodwill		28,300			28,300			28,300			28,300			28,300
Other intangibles		4,306			4,561			4,816			5,071			5,326
Tangible common equity	$	356,916		$	340,231		$	322,007		$	302,247		$	316,543

Total assets	$	4,204,013		$	4,168,944		$	4,043,315		$	3,632,387		$	3,564,694
Less:
Goodwill		28,300			28,300			28,300			28,300			28,300
Other intangibles		4,306			4,561			4,816			5,071			5,326
Tangible assets	$	4,171,407		$	4,136,083		$	4,010,199		$	3,599,016		$	3,531,068

Common equity ratio		9.27	%		8.95	%		8.78	%		9.24	%		9.82	%
Tangible common equity ratio		8.56	%		8.23	%		8.03	%		8.40	%		8.96	%

Tangible Common Equity per Share of Common Stock:

Common shareholders' equity	$	389,522		$	373,092		$	355,123		$	335,618		$	350,169
Tangible common equity	$	356,916		$	340,231		$	322,007		$	302,247		$	316,543
Shares of common stock outstanding (in thousands)		21,854			21,885			21,880			21,892			22,482

Common shareholders' equity per share of common stock	$	17.82		$	17.05		$	16.23		$	15.33		$	15.58
Tangible common equity per share of common stock	$	16.33		$	15.55		$	14.72		$	13.81		$	14.08

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, 2020			September 30, 2020			June 30, 2020			March 31, 2020			December 31, 2019
	(Dollars in thousands)
Non-accrual loans	$	8,312		$	10,481		$	12,938		$	17,454		$	10,178

Loans 90 days or more past due and still accruing interest		-			266			5			-			-
Subtotal		8,312			10,747			12,943			17,454			10,178
Less: Government guaranteed loans		439			510			604			676			646
Total non-performing loans		7,873			10,237			12,339			16,778			9,532
Other real estate and repossessed assets		766			1,487			1,569			1,494			1,865
Total non-performing assets	$	8,639		$	11,724		$	13,908		$	18,272		$	11,397
As a percent of Portfolio Loans
Non-performing loans		0.29	%		0.36	%		0.43	%		0.62	%		0.35	%
Allowance for loan losses		1.30			1.25			1.20			1.20			0.96
Non-performing assets to total assets		0.21			0.28			0.34			0.50			0.32
Allowance for loan losses as a percent of non-performing loans		450.01			349.43			279.60			193.68			274.32

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

Troubled debt restructurings ("TDR")

	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

	December 31, 2019
	Commercial		Retail ⁽¹⁾			Total
	(In thousands)
Performing TDR's	$	7,974	$	39,601		$	47,575
Non-performing TDR's ⁽²⁾		540		2,607	⁽³⁾		3,147
Total	$	8,514	$	42,208		$	50,722

(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.

Allowance for loan losses

	Twelve months ended December 31,
	2020					2019
	Loans			Unfunded Commitments		Loans			Unfunded Commitments
	(Dollars in thousands)
Balance at beginning of period	$	26,148		$	1,542	$	24,888		$	1,296
Additions (deductions)
Provision for loan losses		12,463			-		824			-
Recoveries credited to allowance		3,069			-		3,961			-
Loans charged against the allowance		(6,251	)		-		(3,525	)		-
Additions included in non-interest expense		-			263		-			246
Balance at end of period	$	35,429		$	1,805	$	26,148		$	1,542

Net loans charged against the allowance to average Portfolio Loans		0.11	%				(0.02	)%

Capitalization

	December 31,
	2020			2019
	(In thousands)
Subordinated debt	$	39,281		$	-
Subordinated debentures		39,524			39,456
Amount not qualifying as regulatory capital		(505	)		(1,224	)
Amount qualifying as regulatory capital		78,300			38,232
Shareholders’ equity
Common stock		339,353			352,344
Retained earnings		40,145			1,611
Accumulated other comprehensive income (loss)		10,024			(3,786	)
Total shareholders’ equity		389,522			350,169
Total capitalization	$	467,822		$	388,401

Non-Interest Income

	Three months ended								Twelve months ended
	December 31,			September 30,			December 31,		December 31,
	2020			2020			2019		2020			2019
	(In thousands)
Service charges on deposit accounts	$	2,218		$	2,085		$	2,885	$	8,517		$	11,208
Interchange income		2,819			3,428			2,553	$	11,230		$	10,297
Net gains on assets
Mortgage loans		15,873			20,205			6,388		62,560			19,978
Securities		14			-			3		267			307
Mortgage loan servicing, net		(384	)		(644	)		1,348		(9,350	)		(3,336	)
Investment and insurance commissions		493			530			461		1,971			1,658
Bank owned life insurance		160			215			298		910			1,111
Other		1,170			1,192			1,661		4,640			6,513
Total non-interest income	$	22,363		$	27,011		$	15,597	$	80,745		$	47,736

Capitalized Mortgage Loan Servicing Rights

	Three months ended						Twelve months ended
	December 31,						December 31,
	2020			2019			2020			2019
	(In thousands)
Balance at beginning of period	$	15,403		$	16,906		$	19,171		$	21,400
Originated servicing rights capitalized		3,697			2,539			13,957			7,303
Change in fair value		(2,196	)		(274	)		(16,224	)		(9,532	)
Balance at end of period	$	16,904		$	19,171		$	16,904		$	19,171

Mortgage Loan Activity

	Three months ended									Twelve months ended
	December 31,			September 30,			December 31,			December 31,
	2020			2020			2019			2020			2019
	(Dollars in thousands)
Mortgage loans originated	$	502,491		$	536,502		$	302,520		$	1,820,697		$	1,011,141
Mortgage loans sold		388,631			417,092			248,691			1,447,031			738,910
Net gains on mortgage loans		15,873			20,205			6,388			62,560			19,978
Net gains as a percent of mortgage loans sold ("Loan Sales Margin")		4.08	%		4.84	%		2.57	%		4.32	%		2.70	%
Fair value adjustments included in the Loan Sales Margin		(0.53	)		0.50			(0.38	)		0.47			0.22

Non-Interest Expense

	Three months ended								Twelve months ended
	December 31,			September 30,		December 31,			December 31,
	2020			2020		2019			2020		2019
	(In thousands)
Compensation	$	10,852		$	10,294	$	10,726		$	41,517	$	41,719
Performance-based compensation		5,485			8,310		4,336			19,725		12,066
Payroll taxes and employee benefits		3,702			3,350		3,484			13,539		13,716
Compensation and employee benefits		20,039			21,954		18,546			74,781		67,501
Occupancy, net		2,120			2,199		2,216			8,938		9,013
Data processing		2,374			2,215		2,308			8,534		8,905
Furniture, fixtures and equipment		964			999		1,055			4,089		4,113
Interchange expense		926			831		883			3,342		3,215
Communications		785			806		728			3,194		2,947
Loan and collection		708			768		709			3,037		2,685
Conversion related expenses		1,541			643		-			2,586		-
Advertising		594			589		515			2,230		2,450
Legal and professional fees		600			566		533			2,027		1,814
FDIC deposit insurance		385			411		(38	)		1,596		685
Amortization of intangible assets		255			255		272			1,020		1,089
Supplies		167			126		164			680		638
Branch closure costs		-			-					417
Correspondent bank service fees		101			101		111			395		411
Costs (recoveries) related to unfunded lending commitments		(8	)		41		(95	)		263		246
Provision for loss reimbursement on sold loans		40			46		50			200		229
Net (gains) losses on other real estate and repossessed assets		(82	)		46		(63	)		64		(90	)
Other		1,198			1,045		1,409			5,020		5,882
Total non-interest expense	$	32,707		$	33,641	$	29,303		$	122,413	$	111,733

Average Balances and Tax Equivalent Rates

	Three Months Ended December 31,
	2020							2019
	Average							Average
	Balance		Interest		Rate ⁽²⁾			Balance		Interest		Rate ⁽²⁾
	(Dollars in thousands)
Assets
Taxable loans	$	2,870,011	$	31,071		4.31	%	$	2,767,857	$	33,061		4.75	%
Tax-exempt loans ⁽¹⁾		6,784		87		5.10			8,180		100		4.85
Taxable securities		803,322		3,299		1.64			437,087		3,031		2.77
Tax-exempt securities⁽¹⁾		206,256		991		1.92			50,929		408		3.20
Interest bearing cash		79,280		24		0.12			38,416		163		1.68
Other investments		18,427		211		4.56			18,359		249		5.38
Interest Earning Assets		3,984,080		35,683		3.57			3,320,828		37,012		4.44
Cash and due from banks		51,497							48,095
Other assets, net		159,969							160,821
Total Assets	$	4,195,546						$	3,529,744

Liabilities
Savings and interest-bearing checking	$	1,988,438		761		0.15		$	1,547,860		2,441		0.63
Time deposits		477,079		2,755		2.30			611,914		3,046		1.97
Other borrowings		108,789		953		3.48			92,154		711		3.06
Interest Bearing Liabilities		2,574,306		4,469		0.69			2,251,928		6,198		1.09
Non-interest bearing deposits		1,167,241							880,325
Other liabilities		74,767							51,581
Shareholders’ equity		379,232							345,910
Total liabilities and shareholders’ equity	$	4,195,546						$	3,529,744

Net Interest Income			$	31,214						$	30,814

Net Interest Income as a Percent of Average Interest Earning Assets						3.12	%						3.70	%

(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

Average Balances and Tax Equivalent Rates

	Twelve Months Ended December 31,
	2020							2019
	Average							Average
	Balance		Interest		Rate			Balance		Interest		Rate
	(Dollars in thousands)
Assets
Taxable loans	$	2,863,846	$	122,875		4.29	%	$	2,713,690	$	133,574		4.92	%
Tax-exempt loans ⁽¹⁾		7,145		360		5.04			7,937		391		4.93
Taxable securities		635,914		12,655		1.99			397,598		11,842		2.98
Tax-exempt securities⁽¹⁾		137,330		3,673		2.67			52,324		1,683		3.22
Interest bearing cash		59,056		184		0.31			48,023		818		1.70
Other investments		18,410		905		4.92			18,359		1,043		5.68
Interest Earning Assets		3,721,701		140,652		3.78			3,237,931		149,351		4.61
Cash and due from banks		49,886							37,575
Other assets, net		162,068							164,726
Total Assets	$	3,933,655						$	3,440,232

Liabilities
Savings and interest-bearing checking	$	1,821,115		3,882		0.21		$	1,453,061		10,228		0.70
Time deposits		516,306		8,784		1.70			655,718		13,197		2.01
Other borrowings		117,904		3,551		3.01			77,254		2,922		3.78
Interest Bearing Liabilities		2,455,325		16,217		0.66			2,186,033		26,347		1.21
Non-interest bearing deposits		1,054,230							867,314
Other liabilities		65,943							46,153
Shareholders’ equity		358,157							340,732
Total liabilities and shareholders’ equity	$	3,933,655						$	3,440,232

Net Interest Income			$	124,435						$	123,004

Net Interest Income as a Percent of Average Interest Earning Assets						3.34	%						3.80	%

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

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

Commercial Loan Portfolio Analysis as of December 31, 2019

	Total Commercial Loans
			Watch Credits						Percent of Loan
Loan Category	All Loans		Performing		Non-accrual		Total		Category in Watch Credit
	(Dollars in thousands)
Land	$	11,235	$	275	$	735	$	1,010		9.0	%
Land Development		12,899		-		-		-		0.0
Construction		97,463		-		-		-		0.0
Income Producing		409,897		15,347		-		15,347		3.7
Owner Occupied		323,694		35,485		295		35,780		11.1
Total Commercial Real Estate Loans	$	855,188	$	51,107		1,030	$	52,137		6.1

Other Commercial Loans	$	311,507	$	20,580		347	$	20,927		6.7
Total non-performing commercial loans					$	1,377

Exhibit 99.3

Q4 EARNINGS Independent Bank Corporation (IBCP)Conference Call – January 28, 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, 2019 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

COVID-19 ResponseSupporting Employees, Clients & Communities 4 Employees Clients & Communities Work from home. Providing the technology, culture, and operational infrastructure for the workforce to work remotely as needed.Granting additional sick and vacation time. Complying with applicable Michigan requirements (MI Safe Start Plan, etc.).Performing additional routine and on-demand sanitization of facilities using enhanced methods. Pro-actively reaching out to our business customers to understand needs. Supporting local businesses. Closed over $250 million in SBA Payroll Protection Program (PPP) loans in 2020. Working with business and consumer customers on temporary payment relief. When it became apparent that the Coronavirus (COVID-19) pandemic could pose a threat to our people and business, we activated our Business Continuity and Crisis Communication Core Teams to take early and decisive action

Historical Quarterly Results 5 Quarter Ended, ($M except per share data) 12/31/19 3/31/20 6/30/20 9/30/20 12/31/20 Balance Sheet: Total Assets $3,565 $3,632 $4,043 $4,169 $4,204 Portfolio Loans $2,725 $2,718 $2,867 $2,855 $2,734 Deposits $3,037 $3,084 $3,485 $3,598 $3,637 Tangible Common Equity $317 $302 $322 $340 $357 Profitability: Pre-Tax, Pre-Provision Income $17.0 $12.5 $23.5 $25.3 $20.6 Pre-Tax, Pre-Prov / Avg. Assets 1.91% 1.41% 2.44% 2.46% 1.98% Net Income(1) $13.9 $4.8 $14.8 $19.6 $17.0 Return on Average Assets(1) 1.56% 0.54% 1.54% 1.90% 1.61% Return on Average Equity(1) 15.9% 5.5% 17.4% 21.4% 17.8% Net Interest Margin (FTE) 3.70% 3.63% 3.36% 3.31% 3.12% Efficiency Ratio 62.6% 69.3% 53.1% 56.4% 60.6% Asset Quality: NPAs / Assets 0.32% 0.50% 0.34% 0.28% 0.21% NPAs / Loans + OREO 0.42% 0.67% 0.48% 0.41% 0.32% Reserves / Total Loans 0.96% 1.20% 1.20% 1.25% 1.30% NCOs / Avg. Loans (0.01%) 0.06% 0.45% (0.04%) (0.02%) Capital Ratios: TCE Ratio 9.0% 8.4% 8.0% 8.2% 8.6% Leverage Ratio 10.1% 9.6% 9.1% 9.0% 9.2% Tier 1 Capital Ratio 12.7% 12.2% 12.6% 13.0% 13.3% Total Capital Ratio 13.7% 13.4% 15.3% 15.6% 16.0%

4Q 2020 Financial Highlights Income StatementPre-tax, pre-provision income was $20.6 million in the fourth quarter of 2020 compared to $17.0 million in the fourth quarter of 2019.Net income of $17.0 million, or $0.77 per diluted share compared to $13.9 million, or $0.61 per diluted share for the year ago quarter.Net interest income of $31.0 million, compared to $30.7 million, for the year ago quarter.Mortgage loan originations of $502.5 million, also, $388.6 million in mortgage loans sold with $15.9 million in net gains on mortgage loans compared to $6.4 million in net gains from the year ago quarter. Mortgage servicing rights change (the “MSR Change”) due to price of negative $0.9 million ($0.03 per diluted share, after taxes) compared to $0.6 million ($0.02 per diluted share, after taxes) in the fourth quarter of 2019. Provision for loan loss credit of $0.4 million compared to a credit of $0.2 million in the fourth quarter of 2019. Included within the fourth quarter 2020 provision for loan losses is a $0.5 million increase in the subjective/qualitative reserve.Balance Sheet/CapitalSecurities available for sale increased by $87.1 million.Total portfolio loans declined by $121.8 million.Total deposits grew by $39.6 million.Total stockholder’s equity increased by $16.4 million and tangible book value per share increased by 5.0% to $16.33 per share at December 31, 2020. Paid a 20 cent per share cash dividend on common stock on November 16, 2020. 6

Historical Annual Results 7 (1) Excluding the impact of the $5.96 million re-measurement of net deferred tax assets in 2017, net income is $26.44 million, ROA is 1.00% and ROE is 10.10%. Year Ended December 31, ($M except per share data) 2016 2017 2018 2019 2020 5 Year CAGR Balance Sheet: Total Assets $2,549 $2,789 $3,353 $3,565 $4,204 10.5% Portfolio Loans $1,608 $2,019 $2,583 $2,725 $2,734 11.2% Deposits $2,226 $2,401 $2,913 $3,037 $3,637 10.3% Tangible Common Equity $247 $263 $304 $317 $357 7.6% Profitability: Pre-Tax, Pre-Provision Income $31.6 $39.6 $50.6 $58.6 $81.9 21.0% Pre-Tax, Pre-Prov / Avg. Assets 1.28% 1.50% 1.62% 1.70% 2.08% - Net Income(1) $22.8 $20.5 $39.8 $46.4 $56.2 19.8% Diluted EPS 1.05% 0.95% 1.68% 2.00% 2.53% 19.2% Return on Average Assets(1) 0.92% 0.77% 1.27% 1.35% 1.43% - Return on Average Equity(1) 9.21% 7.82% 12.38% 13.63% 15.68% - Net Interest Margin (FTE) 3.52% 3.65% 3.88% 3.80% 3.34% - Efficiency Ratio 73.70% 69.20% 67.20% 64.90% 59.24% - Asset Quality: NPAs / Assets 0.72% 0.35% 0.29% 0.32% 0.21% - NPAs / Loans + OREO 1.14% 0.49% 0.38% 0.42% 0.32% - Reserves / Total Loans 1.26% 1.12% 0.96% 0.96% 1.30% - NCOs / Avg. Loans 0.06% (0.06%) (0.03%) (0.02%) 0.11% - Capital Ratios: TCE Ratio 9.7% 9.4% 9.2% 9.0% 8.6% - Leverage Ratio 10.5% 10.6% 10.5% 10.1% 9.2% - Tier 1 Capital Ratio 14.7% 14.0% 13.3% 12.7% 13.3% - Total Capital Ratio 15.9% 15.2% 14.3% 13.7% 16.0% - Shareholder Value: TBV/Share $ 11.62 $ 12.34 $ 12.90 $ 14.08 $ 16.33 7.0% Dividends Paid per Share $ 0.34 $ 0.42 $ 0.60 $ 0.72 $ 0.80 18.7% Value of Shares Repurchased $ 16.85 $ - $ 12.68 $ 26.28 $ 14.23 -

Incurred Loss Model vs CECL 25 Incurred vs. CECL ($ in Thousands) 12/31/20 “As If” ACL and percent of loans calculated at midpoint of incremental range with additional $11.5 million at Day. The ACL to total loans ratio is approximately 1.80% excluding PPP loans. % Loans 0.96% 1.30% 1.72%(1) “As-if CECL” Illustrative Only Incurred Loss Build We delayed adopting CECL under the CARES Act:Increased visibility into the economic (local, regional, national) impact of the COVID-19 pandemic. Unemployment forecast sources exhibiting wide disparity.Relationship between unemployment and credit impacted by non-traditional factors, including “stay at home” executive orders, increased unemployment eligibility as well as supplemental unemployment benefits. Incurred Model:4Q’20 provision was a credit of $0.4 millionDecember 31, 2020 allowance for loan losses of $35.4 million or,1.30% of portfolio loans;1.43% of portfolio loans excluding PPP loans and remaining Traverse City State Bank acquired loans; and450% of non-performing loans.Qualitative/subjective allocation increased $0.5 million in 4Q’20 (and by $11.2 million for full-year 2020) due to impact of: increased economic shock to high risk industries, elevated unemployment claims and the level of retail forbearance requests.CECL:Expect to adopt CECL on January 1, 2021 as allowed under the CARES Act extension. ECL day 1 impact range is $10.5 million to $12.5 million with $0.5 million to $1.5 million for unfunded commitments.Increase in the estimated day 1 adjustment range is due to certain discounted cash flow model enhancements.CECL Model Details:Discounted cash flow model with fourteen loan segments.Probability of default and loss given default based on long-term average for commercial loans and regression for mortgage and installment loans.Regression uses one year forecast / with immediate reversion to mean driven primarily by unemployment.Unemployment data: median of Bloomberg survey: 6.7% Q4, falls to 5.9% at the end of the one year forecast.Q factors: economic shock, forbearance activity, and loans in high risk industries. Allocation of Incurred ALLL $26,148 $35,429 $46,929 (1) $9,281 $10,500 to $12,500 12/31/19 ALLL Reserve Build Under Incurred Loss 12/31/20 Incurred Loss Reserve "As If" Day 1 CECL Reserve 1/1/21 "As If" ACL

Historical Annual Results 6 (1) Excluding the impact of the $5.96 million re-measurement of net deferred tax assets in 2017, net income is $26.44 million, ROA is 1.00% and ROE is 10.10%. Year Ended December 31, ($M except per share data) 2016 2017 2018 2019 2020 5 Year CAGR Balance Sheet: Total Assets $2,549 $2,789 $3,353 $3,565 $4,204 10.5% Portfolio Loans $1,608 $2,019 $2,583 $2,725 $2,734 11.2% Deposits $2,226 $2,401 $2,913 $3,037 $3,637 10.3% Tangible Common Equity $247 $263 $304 $317 $357 7.6% Profitability: Pre-Tax, Pre-Provision Income $31.6 $39.6 $50.6 $58.6 $81.9 21.0% Pre-Tax, Pre-Prov / Avg. Assets 1.28% 1.50% 1.62% 1.70% 2.08% - Net Income(1) $22.8 $20.5 $39.8 $46.4 $56.2 19.8% Diluted EPS 1.05% 0.95% 1.68% 2.00% 2.53% 19.2% Return on Average Assets(1) 0.92% 0.77% 1.27% 1.35% 1.43% - Return on Average Equity(1) 9.21% 7.82% 12.38% 13.63% 15.68% - Net Interest Margin (FTE) 3.52% 3.65% 3.88% 3.80% 3.34% - Efficiency Ratio 73.70% 69.20% 67.20% 64.90% 59.24% - Asset Quality: NPAs / Assets 0.72% 0.35% 0.29% 0.32% 0.21% - NPAs / Loans + OREO 1.14% 0.49% 0.38% 0.42% 0.32% - Reserves / Total Loans 1.26% 1.12% 0.96% 0.96% 1.30% - NCOs / Avg. Loans 0.06% (0.06%) (0.03%) (0.02%) 0.11% - Capital Ratios: TCE Ratio 9.7% 9.4% 9.2% 9.0% 8.6% - Leverage Ratio 10.5% 10.6% 10.5% 10.1% 9.2% - Tier 1 Capital Ratio 14.7% 14.0% 13.3% 12.7% 13.3% - Total Capital Ratio 15.9% 15.2% 14.3% 13.7% 16.0% - Shareholder Value: TBV/Share $ 11.62 $ 12.34 $ 12.90 $ 14.08 $ 16.33 7.0% Dividends Paid per Share $ 0.34 $ 0.42 $ 0.60 $ 0.72 $ 0.80 18.7% Value of Shares Repurchased $ 16.85 $ - $ 12.68 $ 26.28 $ 14.23 -

Our Michigan Markets 8 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: $160 million of Ohio mortgage loans, $54 million of resort loans and $17 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 #10 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).Eight bank branches were closed (two on June 26, 2020 and six on July 31, 2020). The closures by region were: 3 in the East/”Thumb”, 2 in the Central and 1 each in the West, Northwest and Southeast. New full service bank branch opened in Brighton, Michigan in 4Q’20.11 Loan Production Offices (LPOs), including 9 throughout Michigan and 2 in Ohio (residential mortgage lending only). Branches (61) East / “Thumb”Branches: 20Deposits: $1,133MLoans: $460M SoutheastBranches: 7Deposits: $468MLoans: $722M CentralBranches: 10Deposits: $528MLoans: $205M WestBranches: 20Deposits: $1,051MLoans: $803M NorthwestBranches: 4Deposits: $289MLoans: $300M

Select Economic Statistics Unemployment Trends (%) Total Employees (Thousands) Regional Average Home Sales Price (Thousands) Annualized Home Sales (Thousands) 9 Elevated unemployment rates due to COVID-19 As of Nov ‘20 Stable prices in key markets Strong job growth prior to COVID-19 Slowing Michigan home sales

Low Cost Deposit Franchise Focused on Core Deposit Growth 10 Substantially core funding – $3.2 billion of non-maturity deposit accounts (89.0% of total deposits).Total deposits increased $600.6 million (19.8%) since 12/31/19 with non-interest bearing up $301.2 million, savings and interest- bearing checking up $339.7 million, reciprocal up $125.2 million and time down $89.5 million.Cost of deposits increased due to a $1.6 million increase in interest expense due to accelerated amortization of deferred losses on de-designated derivative instruments. Deposits by Customer Type:Retail – 52.3%Commercial – 34.1%Municipal – 13.6% Deposit Composition – 12/31/20 Deposit Highlights Michigan Deposit Market Share $3.6B Core Deposits: 89.0% Cost of Deposits (%)/Total Deposits ($B) Note: Core deposits defined as total deposits less maturity deposits. Market share data as of 6/30/20. Deposits in Mkt. Market Share Rank Institution ($M) (%) 1 JPMorgan Chase & Co. $63,501 22.3% 2 Comerica Inc. $35,492 12.5% 3 Bank of America Corporation $29,285 10.3% 4 Fifth Third Bancorp $21,632 7.6% 5 PNC Financial Services Group $21,220 7.5% 6 TCF Financial Corp. $20,073 7.1% 7 Huntington Bancshares Inc. $19,670 6.9% 8 Flagstar Bancorp Inc. $17,184 6.0% 9 Citizens Financial Group Inc. $6,372 2.2% 10 Independent Bank Corp. $3,561 1.3% Total for Institutions in Market $284,300

Diversified Loan PortfolioFocused on High Quality Growth 11 Lending Highlights Note: Portfolio loans exclude loans HFS. Portfolio loan changes in 4Q’20:Commercial – decreased $109.4 million. PPP loan balances decreased $91.4 million and totaled $169.8 million at December 31, 2020.Mortgage – decreased $8.1 million due to portfolio pay-downs and higher salable mix in new loan origination volume. Installment – decreased $4.3 million.Mortgage loan portfolio weighted average FICO and LTV of 748 and 71%, respectively and average balance of $191,000.Installment weighted average FICO of 759 and average balance of $21,000.Commercial loan rate mix:60% fixed / 40% variable.Indices – 59% tied to Prime, 38% tied to LIBOR and 3% tied to a US Treasury rate.Mortgage loan (including HECL) rate mix: 49% fixed / 51% adjustable or variable. Indices – 19% tied to Prime, 62% tied to LIBOR , 18% tied to a US Treasury rate and 1% tied to SOFR Loan Composition – 12/31/20 $2.8B Yield on Loans (%)/Total Portfolio Loans ($B)

COVID-19 Programs – Loan Forbearances 12 Highlights Loan Forbearances 12/31/2020 9/30/2020 6/30/2020 Current % Change from 6/30 Loan Type # $ (000’s) % of portfolio # $ (000’s) % of portfolio # $ (000's) % of portfolio # $ Commercial 2 $163 0.01% 17 $25,105 1.90% 386 $210,486 15.40% -99.5% -99.9% Mortgage 134 19,830 1.95% 197 32,091 3.10% 388 81,212 7.80% -65.5% -75.6% Installment 48 1,412 0.30% 97 2,631 0.50% 280 7,459 1.60% -82.9% -81.1% Total Portfolio Loans 184 $21,405 0.78% 311 $59,827 2.10% 1,054 $299,157 10.40% -82.5% -92.8% Loans Serviced for Others 288 $42,897 1.44% 416 $66,279 2.30% 773 $114,839 4.2% -62.7% -62.6% The table above reflects the status of loan forbearances for the last three quarters. 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.

COVID-19 Programs – Paycheck Protection Program (“PPP”) 13 Highlights PPP Loan Portfolio The table above reflects the status of PPP loans as of December 31, and September 30, 2020.Paycheck Protection Program:Forgiveness applications began to be submitted to the SBA in August 2020. SBA generally has 90 days to process forgiveness applications.Forgiveness application approvals and payments from the SBA began to be received in October 2020.Expect remaining unaccreted fees at December 31, 2020 to be accreted into interest income over the next 6 months with the heaviest activity over the next two quarters. This excludes any volume from the second round of the Paycheck Protection Program. Description 12/31/20 9/30/20 # ($ in 000’s) # ($ in 000’s) Loans outstanding at quarter-end 1483 $ 169,782 2,117 $ 261,182 Average loans outstanding for the quarter n/a 220,214 n/a 261,543 Forgiveness applications submitted to the SBA 808 122,962 197 37,223 Forgiveness applications processed and approved by the SBA 755 91,972 0 0 Fees accreted into interest income during the quarter n/a 3,250 n/a 1,321 Unaccreted fees remaining at quarter-end n/a 3,216 n/a 6,494 Average loan yield for the quarter n/a 6.91% n/a 3.04%

Loan Portfolio Concentrations by Industry Percentage concentrations are based on the entire commercial portfolio of $1.242 billion as of December 31, 2020. Loans by Industry as a % of Total Commercial Loans ($ in millions) Investor RE by Collateral Type as a % of Total Commercial Loans ($ in millions) $830 million, or 66.9% of the commercial loan portfolio is C&I or owner occupied, while $412 million, or 33.3% is investment real estate. 14 Commercial Loan Portfolio Concentrations

Investment Securities Portfolio 15 Highlights High quality, liquid, diverse portfolio with relatively short duration.Fair value of $1.07 billion, an increase of $87.1 million in 4Q’20.Net unrealized gain of $20.0 million, representing 1.90% of amortized cost.Portfolio ratings: 63% AAA rated (or backed by the U.S. Government); 20% AA rated; 7% A rated; 7% BAA rated and 3% unrated.3.00 year estimated average duration with a weighted average yield of 2.12% (with TE gross up).Approximately 25.20% of the portfolio is variable rate. $1.1B Investment Portfolio by Type (12/31/20) Investment Securities Activity – 4Q’20 Agency MBS, CMO & CMBS Municipal/Govern-ment Asset-backed Private Label Mortgage Corp. Total (Dollars in 000’s) Purchases (at cost) $51,811 $92,336 $40,624 $500 $11,798 $197,069 Repayments (a) 43,1961 15,018 50,427 2,262 168 111,434 Sales -- -- -- -- -- -- Purchases in 4Q’20 Yield (TE) 1.56% 2.20% 1.36% 1.68% 3.07% 1.91% Duration 2.78% 8.71% 0.36% 7.89% 4.49% 5.17% Total repayments include $0.36 million of repayments on Treasury/Agency securities not shown in the table.

Strong Capital Position 16 Source: S&P Global Market Intelligence and Company documents.Note: Company closed acquisition of TCSB Bancorp, Inc. in Q2 ‘18. 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 decreased $1.0 million, or 3.0%, in 4Q’20 vs. 3Q’20 due primarily to a $1.5 million increase in interest expense on deposits. This increase is due to accelerated amortization of deferred loss on certain de-designated instruments. Net interest margin was 3.12% during the fourth quarter of 2020, compared to 3.70% in the year-ago quarter and 3.31% in the third quarter of 2020. Yields, NIM and Cost of Funds (%) Net Interest Income ($ in Millions) Net Interest Margin/Income 17

Linked Quarter Analysis 18 4Q’20 NIM Changes Linked Quarter Average Balances and FTE Rates Yield on average interest-earning assets declined 5 basis points.Earning asset growth was primarily in investments where the overall yield declined by 39 basis points due to elevated premium write downs on callable bonds and new investments being added at lower interest rates.Commercial loan yield benefited from the acceleration of PPP fees totaling $3.3 million. Funding costs increased by 21 basis points due primarily to $1.6 million in accelerated amortization of deferred loss on certain derivative instruments. 4Q’20 Highlights

Strong Non-interest Income 19 Diverse sources of non-interest income – representing 41.9% of operating revenue in 4Q’20.COVID-19 has adversely impacted service charges on deposits. In addition, we have suspended certain electronic banking fees due to the enhanced need for customers to access this channel.Mortgage banking: $15.9 million in net gains on mortgage loans in 4Q’20 vs. $6.4million in the year ago quarter. A combination of higher sales volumes, stronger profit margins and fair value adjustments on the pipeline led to this increase.$502.5 million in mortgage loan originations in 4Q’20 vs. $302.5 million in 4Q’19 and $536.5 million in 3Q’20.4Q’20 mortgage loan servicing includes a $0.9 million ($0.03 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. $80.7M 2020 YTD Non-interest Income (millions) Non-interest Income Trends ($M) Highlights

Focus on Improved Efficiency 20 Source: Company documents. Non-interest Expense ($M) Highlights Efficiency Ratio (4 quarter rolling average) Continued focus on expense control and driving positive operating leverage. 4Q’20 performance based compensation was $5.5 million compared to $4.3 million in 4Q’19 due primarily to an increase in the accrual for the annual management incentive compensation plan as a result of significant improvements in performance metrics reflecting the strong 4Q’20 results.4Q’20 non-interest expense included $1.54 million of conversion related expenses (associated with core data processing conversion that is in process).Eight branch closings in June/July 2020 with anticipated annual savings in excess of $1.3 million.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 $4.8 million at 12/31/20.A majority of our TDRs are performing under their modified terms but remain in TDR status for the life of the loan.87.3% of TDRs are current as of 12/31/20.Commercial TDR Statistics:30 loans with $10.1 million book balance.88.6% performing.WAR of 6.06% (accruing loans).Well seasoned portfolio; 87% of accruing loans are not only performing but have been for over a year since modification.Retail TDR Statistics:451 loans with $38.0 million book balance.95.8% performing.WAR of 4.57% (accruing loans).Well seasoned portfolio; over 94% of accruing loans are not only performing but have been for over a year since modification. TDRs ($ in Millions) 87% of TDRs are Current 23

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

Incurred Loss Model vs CECL 25 Incurred vs. CECL ($ in Thousands) 12/31/20 “As If” ACL and percent of loans calculated at midpoint of incremental range with additional $11.5 million at Day. The ACL to total loans ratio is approximately 1.80% excluding PPP loans. % Loans 0.96% 1.30% 1.72%(1) “As-if CECL” Illustrative Only Incurred Loss Build We delayed adopting CECL under the CARES Act:Increased visibility into the economic (local, regional, national) impact of the COVID-19 pandemic. Unemployment forecast sources exhibiting wide disparity.Relationship between unemployment and credit impacted by non-traditional factors, including “stay at home” executive orders, increased unemployment eligibility as well as supplemental unemployment benefits. Incurred Model:4Q’20 provision was a credit of $0.4 millionDecember 31, 2020 allowance for loan losses of $35.4 million or,1.30% of portfolio loans;1.43% of portfolio loans excluding PPP loans and remaining Traverse City State Bank acquired loans; and450% of non-performing loans.Qualitative/subjective allocation increased $0.5 million in 4Q’20 (and by $11.2 million for full-year 2020) due to impact of: increased economic shock to high risk industries, elevated unemployment claims and the level of retail forbearance requests.CECL:Expect to adopt CECL on January 1, 2021 as allowed under the CARES Act extension. CECL day 1 impact range is $10.5 million to $12.5 million with $0.5 million to $1.5 million for unfunded commitments.Increase in the estimated day 1 adjustment range is due to certain discounted cash flow model enhancements.CECL Model Details:Discounted cash flow model with fourteen loan segments.Probability of default and loss given default based on long-term average for commercial loans and regression for mortgage and installment loans.Regression uses one year forecast / with immediate reversion to mean driven primarily by unemployment.Unemployment data: median of Bloomberg survey: 6.7% Q4, falls to 5.9% at the end of the one year forecast.Q factors: economic shock, forbearance activity, and loans in high risk industries. Allocation of Incurred ALLL $26,148 $35,429 $46,929 (1) $9,281 $10,500 to $12,500 12/31/19 ALLL Reserve Build Under Incurred Loss 12/31/20 Incurred Loss Reserve "As If" Day 1 CECL Reserve 1/1/21 "As If" ACL

oans;1.38% of portfolio loans excluding PPP loans and remaining Traverse City State Bank acquired loans; and450% of non-performing loans.Qualitative/subjective allocation increased $0.5 million in 4Q’20 (and by $11.2 million for full-year 2020) due to impact of: increased economic shock to high risk industries, elevated unemployment claims and the level of retail forbearance requests.CECL:Expect to adopt CECL on January 1, 2021 as allowed under the CARES Act extension. CECL day 1 impact range is $10.5 million to $12.5 million with $0.5 million to $1.5 million for unfunded commitments.Increase in the estimated day 1 adjustment range is due to certain discounted cash flow model enhancements.CECL Model Details:Discounted cash flow model with fourteen loan segments.Probability of default and loss given default based on long-term average for commercial loans and regression for mortgage and installment loans.Regression uses one year forecast / with immediate reversion to mean driven primarily by unemployment.Unemployment data: median of Bloomberg survey: 6.7% Q4, falls to 5.9% at the end of the one year forecast.Q factors: economic shock, forbearance activity, and loans in high risk industries. Allocation of Incurred ALLL $26,148 $35,429 $46,929 (1) $9,281 $10,500 to $12,500 12/31/19 ALLL Reserve Build Under Incurred Loss 12/31/20 Incurred Loss Reserve "As If" Day 1 CECL Reserve 1/1/21 "As If" ACL

2020 Outlook Update Category Outlook Lending Continued growthIBCP goal of mid- single digit (approximately 7%) overall loan growth in 2020, primarily supported by increases in commercial loans, mortgage loans and consumer loans. Expect much of this growth to occur in the last three quarters of 2020. This growth forecast also assumes a stable Michigan economy.Q4 Update: Loans decreased $121.8 million in the quarter due primarily to PPP loan forgiveness. Total loans increased $8.7 million from the prior year period. The economic impact of the COVID-19 pandemic created challenges in the companies lending environment that were unforeseen at the beginning of 2020. Net Interest Income Growth driven primarily by higher portfolio loan balances, expect total deposits (including brokered time) to grow by approximately 5% in 2020 IBCP goal of approximately a 2% increase in net interest income (NII) over 2019. Expect the net interest margin (NIM) to be relatively stable in 2020 and comparable to the 4Q’19 level but lower than the full year 2019 NIM. The forecast assumes no changes in the target federal funds rate in 2020 and long-term interest rates up very slightly over year end 2019 levels. Q4 Update: The interest rate environment for full-year 2020 has been very different than the original forecast. Actual short term rates declined 150 bps and long-term rates declined by approximately 100 bps. Actual NIM compression of 0.19% on a linked quarter basis. The decline in NIM was primarily driven by a onetime increase in interest expense of $1.6 million due to accelerated amortization of deferred loss on certain derivative instruments. Provision for Loan 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 0.96% at 12/31/19. The initial (effective 1/1/2020) CECL adjustment is now expected to be approximately $8 million to $10 million. This revised lower range (compared to the 3Q’19 CECL estimate) primarily reflects the following factors: (i) a decline in commercial loan watch credits; (ii) a 4Q’19 update of the credit scoring of the retail loan portfolio reflecting improved scores; (iii) slightly higher prepayment rates in the retail loan portfolio; (iv) methodology refinements in the retail construction loan portfolio; and (v) changes in specific reserves. This CECL adjustment is still subject to certain final review procedures that will be completed in 1Q’20. A full year 2020 provision (expense) for loan losses of approximately 0.15% to 0.20% of average total portfolio loans would not be unreasonable.Q4 Update: We opted to delay implementation of CECL as described earlier. Actual YTD 2020 provision of $12.5 million (or 0.43% annualized of average total loans). This provision includes an increase in the qualitative/subjective reserve under the incurred method of $11.2 million (or 0.39% annualized of average total loans), due to the economic shock from the COVID-19 pandemic, elevated unemployment and forbearance activity. Future provision levels will depend on how deep and how long this economic disruption lasts and the impact on the loan portfolio. 1Q’21 provision will primarily depend on level of net loan charge-offs, new loan defaults and new forbearance activity (all were low in 4Q’20). Non-interest Income IBCP forecasted 2020 quarterly range of $11 million to $13.5 million with the total for the year up 3% to 4% from 2019 actual of $47.7 millionExpect mortgage loan origination volumes in 2020 to be down by approximately 15% due primarily to a decline in refinance activity. Expect overall mortgage banking revenues (gain on sale and mortgage loan servicing) to improve in 2020 due to not having any fair value write downs due to price for MSRs. Expect service charges on deposits and interchange income in 2020 to be collectively comparable to 2019 (i.e. a decline in servicing charges on deposits due to lower NSF fees to be largely offset by an increase in interchange income). Q4 Update: Actual non-interest income of $22.4 million was well above the high end of the range of $13.5 million. Very strong 4Q’20 mortgage loan origination volumes due to heavy refinance activity and solid purchase activity. $15.9 million in gains on mortgage loans were partially offset by $0.9 million of negative MSR fair value change due to price. Non-interest Expenses IBCP forecasted 2020 quarterly range of $27.5 to $28.5 million with the total for the year up very slightly (less than 1%) from the 2019 actual of $111.7 million.Expect total compensation and employee benefits to be slightly lower in 2020 compared to 2019 due primarily to a reduction in incentive compensation. Most other categories of non-interest expense expected to have small (1% to 2%) increases.Q4 Update: Actual non-interest expenses of $32.7 million were well above the high end of the range due primarily to an increased accrual for incentive compensation due to strong YTD financial performance and $1.5 million of conversion related expenses. Full-year 2020 non-interest expense totaled $122.4 million. The increase in 2020 compared to 2019 was driven primarily an increase in performance based compensation and expensive related to our data conversion. Income Taxes Approximately a 20% effective income tax rate in 2020. This assumes a 21% statutory federal corporate income tax rate during 2020.Q4 Update: Full-year 2020 actual effective income tax rate of 19.8%. Share Repurchases 2020 share repurchase authorization at approximately 5% of outstanding shares. Expect total share repurchases in 2020 at just above the mid-point of this authorization.Q4 Update: Share repurchase activity initially ceased on March 16, 2020. Share repurchase plan was reactivated effective October 30, 2020. The Company purchased 30,027 shares at an average cost of $14.90 in fourth quarter of 2020. Total cost of the shares purchased was $0.4 million. 26

2021 Outlook Update Category Outlook Lending Continued growthLoan payoffs related to the Paycheck Protection Program will make loan growth challenging in 2021. IBCP goal of low (1%) single digit overall loan growth (5% - 7% excluding PPP impact), primarily supported by increases in commercial loans, mortgage loans and consumer loans. This growth forecast also assumes an improving Michigan economy. Net Interest Income Growth driven primarily by higher average earning assetsIBCP goal of approximately a 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. Provision for Loan 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 1/1/20210) 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 loan losses of approximately 0.25% to 0.35% of average total portfolio loans would not be unreasonable. 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). Non-interest Expenses IBCP forecasted 2021 quarterly range of $28.5 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. Income Taxes Approximately a 20% effective income tax rate in 2021. This assumes a 21% statutory federal corporate income tax rate during 2021. Share Repurchases 2021 share repurchase authorization at approximately 5% of outstanding shares. Expect total share repurchases in 2021 at the mid-point of this authorization. 27

Strategic Initiatives 28 Improve net interest income via balanced loan growth, disciplined risk adjusted loan pricing and active management of deposit pricing. Innovative and targeted customer acquisition, retention and cross sales strategies leveraging data analytics, inside sales staff, and intra-company referrals with strategic business unit partners.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 Completion of core data processing provider contract.On-going branch optimization: including assessing existing locations; new locations; service hours; staffing; workflow; and our leveraging of existing technology. Modernize branch delivery technology/systems.Expand Digital Branch (Call Center) services.All business lines and departments: streamline/automate operating processes and workflows Build/enhance dashboard reporting and business intelligence. Process Improvement & Cost Controls We recognize that the path to organizational success is through the success of each and every one of our team members. Accordingly we encourage and support the professional development of our colleagues through our IB Leadership Program, mentoring and other initiatives. We are passionate about our desire to ensure that our team members are empowered and supported in a way that will best position them to serve our customers. We believe that if we are committed to the well-being of our team members, and recognize and reward their contributions, they will ensure our success. Talent Management Maintain strong, high quality, capital levels – augmented by consistent earnings. Maintain excellent asset quality and strong proactive monitoring.Active liquidity and interest rate risk monitoring and management.Strong, independent and collaborative risk management, utilizing 3 layers of defense (business unit, risk management and internal audit). Effective operational controls with special emphasis on cyber security, fraud prevention, regulatory compliance, crisis communications and business continuity plan.Effective working relationships with banking regulators and other key outside oversight partners. Risk Management

Q&A and Closing Remarks Question and Answer SessionClosing RemarksThank you for attending!NASDAQ: IBCP 29

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)

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

Date		January 28, 2021		By		s/Gavin A. Mohr
				Gavin A. Mohr, Principal Financial Officer

99.1	Press release dated January 28, 2021.

99.2	Supplemental data to the Registrant's press release dated January 28, 2021.

99.3	Earnings conference call presentation.