Form 8-K

8-K — INDEPENDENT BANK CORP /MI/

Accession: 0000039311-26-000042

Filed: 2026-04-23

Period: 2026-04-23

CIK: 0000039311

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — ibcp-20260423.htm (Primary)

EX-99.1 (ibcp-20260423ex991.htm)

EX-99.2 (ibcp-20260423ex992.htm)

EX-99.3 (ibcp20261qearningspresen.htm)

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8-K

8-K (Primary)

Filename: ibcp-20260423.htm · Sequence: 1

ibcp-20260423

FALSE000003931100000393112026-04-232026-04-23

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: April 23, 2026

INDEPENDENT BANK CORPORATION

(Exact name of registrant as specified in its charter)

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)

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):

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

Subject Company: HCB Financial Corp. (Commission File No. N/A)

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

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

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

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

Title of each class Trading symbol(s) Name of each exchange on which registered

Common stock, no par value IBCP NASDAQ Global Select Market

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 o

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. o

Item 2.02. Results of Operations and Financial Condition

On April 23, 2026, Independent Bank Corporation issued a press release announcing its financial results for the quarter ended March 31, 2026. A copy of the press release is attached as Exhibit 99.1. Attached Exhibit 99.2 contains supplemental data to that press release and attached Exhibit 99.3 contains a slide presentation for our earnings conference call.

The information in this Form 8-K and the attached Exhibits shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits

Exhibits.

99.1

Press release dated April 23, 2026.

99.2

Supplemental data to the Registrant’s press release dated April 23, 2026.

99.3

Earnings conference call presentation.

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.

INDEPENDENT BANK CORPORATION

(Registrant)

Date 4/23/2026 By s/Gavin A. Mohr

Gavin A. Mohr, Principal Financial Officer

EX-99.1

Filename: ibcp-20260423ex991.htm · Sequence: 2

Document

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 2026 FIRST QUARTER EARNINGS OF $0.81 PER DILUTED SHARE

GRAND RAPIDS, Mich., April 23, 2026 - Independent Bank Corporation (NASDAQ: IBCP) reported first quarter 2026 net income of $16.9 million, or $0.81 per diluted share, versus net income of $15.6 million, or $0.74 per diluted share, in the prior-year period.

Highlights for the first quarter of 2026 include:

•A net interest margin of 3.65% (three basis point increase from the linked quarter);

•Increase in net interest income of $0.5 million (or 1.1% ) over the fourth quarter of 2025;

•Increase in tangible common equity per share of common stock of $0.33 (or 5.9% annualized) from December 31, 2025;

•A return on average assets and a return on average equity of 1.24% and 13.43%, respectively;

•Net growth in total deposits, less brokered time deposits, of $80.4 million (or 6.9% annualized) from December 31, 2025;

•Net growth in loans of $31.8 million (or 3.0% annualized) from December 31, 2025;

•An increase in the tangible common equity ratio to 8.7%; and

•The payment of a $0.28 per share quarterly dividend on common stock on February 13, 2026.

William B. (“Brad”) Kessel, the President and Chief Executive Officer of Independent Bank Corporation, commented: “Our first quarter results reflect the strength of our core fundamentals, including growth in net interest income, expansion in our net interest margin to 3.65%, and continued growth in both loans and core deposits. Balance sheet growth remained disciplined, with $80.4 million in core deposit growth and $31.8 million in total loan growth, including $53.8 million, or 9.9% annualized, in commercial loans, reflecting continued execution of our strategic plan. Credit quality remains sound, and while geopolitical uncertainty has increased, we have not seen a direct impact on our customers and continue to monitor conditions closely. Profitability remained strong, with a return on average assets of 1.24% and a return on average equity of 13.43%. We remain encouraged by our momentum, optimistic about our opportunities, and confident in the benefits our recently announced merger with HCB Financial Corp. will provide to enhancing shareholder value.”

Significant items impacting comparable first quarter 2026 and 2025 results include the following:

•Changes in the fair value due to price of capitalized mortgage loan servicing rights (the “MSR Changes”) of $0.9 million ($0.04 per diluted share, after taxes) for the three-month period ended March 31, 2026, as

compared to $(1.5) million ($(0.06) per diluted share, after taxes) for the three-month period ended March 31, 2025.

Operating Results

The Company’s net interest income totaled $46.9 million during the first quarter of 2026, an increase of $3.2 million, or 7.3% from the year-ago period, and an increase of $0.5 million, or 1.1%, from the fourth quarter of 2025 which had two additional days of earnings. The Company’s tax equivalent net interest income as a percent of average interest-earning assets (the “net interest margin”) was 3.65% during the first quarter of 2026, compared to 3.49% in the year-ago period, and 3.62% in the fourth quarter of 2025. The increase in the net interest margin from the prior quarter was supported by a 16 basis point decrease in the cost of deposits. The year-over-year quarter and linked quarter increases in net interest income were due to both an increase in average interest-earning assets and the higher net interest margin. Average interest-earning assets were $5.21 billion in the first quarter of 2026, compared to $5.08 billion in the year-ago quarter and $5.16 billion in the fourth quarter of 2025.

Non-interest income totaled $12.0 million for the first quarter of 2026, compared to $10.4 million in the comparable prior year period. This change was primarily due to variances in mortgage banking related revenues.

Net gains on mortgage loans in the first quarters of 2026 and 2025 were approximately $1.3 million and $2.3 million, respectively. The comparative quarterly decrease in net gains on mortgage loans was due to a decrease in the gain on sale margin that was partially offset by an increase in the volume of mortgage loans sold.

Mortgage loan servicing, net, generated income (expense) of $1.6 million and $(0.6) million in the first quarters of 2026 and 2025, respectively. The significant variance in mortgage loan servicing, net is primarily due to changes in the fair value of capitalized mortgage loan servicing rights associated with changes in interest rates and the associated expected future prepayment levels and expected float rates partially offset by a decline in servicing revenue. The decline in servicing revenue is attributed to the sale of approximately $931 million of mortgage servicing rights on January 31, 2025. Capitalized mortgage loan servicing rights totaled $32.2 million and $31.5 million at March 31, 2026 and December 31, 2025, respectively.

Mortgage loan servicing, net activity is summarized in the following table:

Three months ended

3/31/2026 3/31/2025

(In thousands)

Mortgage loan servicing, net:

Revenue, net $ 1,636 $ 1,882

Fair value change due to price 933 (1,533)

Fair value change due to pay-downs (923) (891)

Loss on sale of originated servicing rights $ — $ (94)

Total $ 1,646 $ (636)

Non-interest expenses totaled $38.3 million in the first quarter of 2026, compared to $34.3 million in the year-ago period. The increase in non-interest expense is primarily due to increases in compensation and employee benefits, advertising and merger related expenses as well as a $1.5 million litigation expense recorded during the quarter.

The Company recorded income tax expense of $3.4 million in the first quarter of 2026. This compares to an income tax expense of $3.5 million in the first quarter of 2025. The 2026 first quarter income tax expense includes a $0.2 million benefit from transferable energy tax credits.

Asset Quality

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

3/31/2026 12/31/2025 3/31/2025

Loan Type (Dollars in thousands)

Commercial $ 27,077 $ 23,531 $ 127

Mortgage 9,953 8,683 8,080

Installment 745 860 819

Sub total 37,775 33,074 9,026

Less - government guaranteed loans 10,202 9,947 1,940

Total non-performing loans $ 27,573 $ 23,127 $ 7,086

Ratio of non-performing loans to total portfolio loans 0.64 % 0.54 % 0.17 %

Ratio of non-performing assets to total assets 0.51 % 0.44 % 0.14 %

Ratio of allowance for credit losses to total non-performing loans 231.09 % 274.33 % 847.23 %

(1) Non performing loans include non-accrual loans and loans 90 days or more past due and still accruing interest.

The provision for credit losses was an expense of $0.36 million and $0.72 million in the first quarters of 2026 and 2025, respectively. The Company recorded loan net charge offs of $0.27 million and $0.07 million in the first quarters of 2026 and 2025, respectively. At March 31, 2026, the allowance for credit losses for loans totaled $63.7 million, or 1.48% of total portfolio loans compared to $63.4 million, or 1.48% of total portfolio loans at December 31, 2025.

Balance Sheet, Capital and Liquidity

Total assets were $5.56 billion at March 31, 2026, an increase of $51.8 million from December 31, 2025. Loans, excluding loans held for sale, were $4.31 billion at March 31, 2026, compared to $4.28 billion at December 31, 2025. Deposits totaled $4.88 billion at March 31, 2026, an increase of $119.0 million from December 31, 2025. This increase is primarily due to increases in savings and interest-bearing checking, reciprocal, and brokered time deposits that were partially offset by a decrease in time deposits.

Cash and cash equivalents totaled $174.9 million at March 31, 2026, versus $138.4 million at December 31, 2025. Securities available for sale (“AFS”) totaled $482.3 million at March 31, 2026, versus $495.9 million at December 31, 2025.

Total shareholders’ equity was $510.6 million at March 31, 2026, or 9.19% of total assets compared to $503.0 million or 9.14% at December 31, 2025. Tangible common equity totaled $481.4 million at March 31, 2026, or $23.38 per share compared to $473.7 million or $23.05 per share at December 31, 2025. The increases in shareholders’ equity as well as tangible common equity are primarily the result of earnings retention that was partially offset by an increase in the accumulated other comprehensive loss.

The Company’s wholly owned subsidiary, Independent Bank, remains significantly above “well capitalized” for regulatory purposes with the following ratios:

Regulatory Capital Ratios 3/31/2026 12/31/2025 Well

Capitalized

Minimum

Tier 1 capital to average total assets 9.43 % 9.36 % 5.00 %

Common equity tier 1 capital to risk-weighted assets 11.43 % 11.24 % 6.50 %

Tier 1 capital to risk-weighted assets 11.43 % 11.24 % 8.00 %

Total capital to risk-weighted assets 12.68 % 12.49 % 10.00 %

At March 31, 2026, in addition to liquidity available from our normal operating, funding, and investing activities, we had unused credit lines with the FHLB and FRB of approximately $785.5 million and $1.36 billion, respectively. We also had approximately $440.7 million in fair value of unpledged securities AFS and HTM at March 31, 2026 which could be pledged for an estimated additional borrowing capacity at the FHLB and FRB of approximately $414.0 million.

Share Repurchase Plan

On December 16, 2025, the Board of Directors of the Company authorized the 2026 share repurchase plan. Under the terms of the 2026 share repurchase plan, the Company is authorized to purchase up to 1,100,000 shares, or approximately 5% of its then outstanding common stock. The repurchase plan is authorized to last through December 31, 2026. During the three month period ended March 31, 2026, there were no shares of common stock repurchased.

Earnings Conference Call

Brad Kessel, President and CEO, Gavin Mohr, CFO and Joel Rahn, EVP – Commercial Banking will review the quarterly results in a conference call for investors and analysts beginning at 11:00 am ET on Thursday, April 23, 2026.

To access via phone, participants will need to register using the following link where they will be provided a phone number and access code: https://register-conf.media-server.com/register/BId259863bf9e8463883aeddb939de1580.

In order to view the webcast and presentation slides, please go to https://edge.media-server.com/mmc/p/989vrdc9 during the time of the call. A replay of the webcast will be available until April 23, 2027.

About Independent Bank Corporation

Independent Bank Corporation (NASDAQ: IBCP) is a Michigan-based bank holding company with total assets of approximately $5.6 billion. Founded as First National Bank of Ionia in 1864, Independent Bank Corporation operates a branch network across Michigan's Lower Peninsula through one state-chartered bank subsidiary. This subsidiary (Independent Bank) provides a full range of financial services, including commercial banking, mortgage lending, consumer banking, 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 presentation contains forward-looking statements, which are any statements or information that are not historical facts. These forward-looking statements include statements about our anticipated future revenue and expenses and our future plans and prospects.

Forward-looking statements involve inherent risks and uncertainties, and important factors could cause actual results to differ materially from those anticipated. For example, deterioration in general business and economic conditions or turbulence in domestic or global financial markets could adversely affect our revenues and the values of our assets and liabilities, reduce the availability of funding to us, lead to a tightening of credit, and increase stock price volatility. Our results could also be adversely affected by changes in interest rates; increases in unemployment rates; deterioration in the credit quality of our loan portfolios or in the value of the collateral securing those loans; deterioration in the value of our investment securities; the outcome of pending litigation; legal and regulatory developments; changes in customer behavior and preferences; breaches in data security; and management’s ability to effectively manage the multitude of risks facing our business. Key risk factors that could affect our future results are described in more detail in our Annual Report on Form 10-K for the year ended December 31, 2025 and the other reports we file with the SEC, including under the heading “Risk Factors.” Investors should not place undue reliance on forward-looking statements as a prediction of our future results.

In addition, this release contains forward-looking statements regarding the proposed merger with HCB Financial Corp. ("HCB"). Important factors that could cause actual results to differ materially from those anticipated include: the risk that the merger may not be completed in a timely manner or at all; the failure to satisfy the conditions to the completion of the merger, including the receipt of all required regulatory and shareholder approvals; the occurrence of any event, change, or other circumstance that could give rise to the right of one or both parties to terminate the merger agreement; the risk that the anticipated benefits and cost savings of the merger may not be fully realized or may take longer to realize than expected; the risk of business disruption during the pendency of the merger; diversion of management's attention from ongoing business operations; the risk that the integration of HCB's operations with ours will be materially delayed or will be more costly or difficult than expected; and the potential for reputational risk related to the merger and integration.

Any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.

Additional Information and Where to Find It

In connection with the proposed acquisition of HCB, we expect to file with the SEC a registration statement on Form S-4 that will include a preliminary proxy statement of HCB and a preliminary prospectus of Independent Bank Corporation. Shareholders are urged to read the proxy statement/prospectus when it becomes available because it will contain important information about the proposed transaction. Free copies of these documents, when available, may be obtained at the SEC’s website (www.sec.gov) or upon written request to Independent Bank Corporation, 4200 East Beltline, Grand Rapids, MI 49525, Attention: Investor Relations, or HCB Financial Corp., 150 West Court Street, Hastings, MI 49058, Attention: Amanda Belcher-Currier, CFO. A final proxy statement/prospectus will be mailed to the shareholders of HCB.

No Offer or Solicitation

This communication is not an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

INDEPENDENT BANK CORPORATION AND SUBSIDIARIES

Consolidated Statements of Financial Condition

March 31, 2026 December 31, 2025

(Unaudited)

(In thousands, except share

amounts)

Assets

Cash and due from banks $ 48,475 $ 52,235

Interest bearing deposits 126,440 86,152

Cash and Cash Equivalents 174,915 138,387

Securities available for sale 482,295 495,909

Securities held to maturity (fair value of $271,452 at March 31, 2026 and $282,830 at December 31, 2025)

301,007 309,523

Federal Home Loan Bank and Federal Reserve Bank stock, at cost 18,102 18,102

Loans held for sale, carried at fair value 19,714 9,031

Loans

Commercial 2,267,369 2,213,557

Mortgage 1,520,358 1,524,821

Installment 520,372 537,907

Total Loans 4,308,099 4,276,285

Allowance for credit losses (63,719) (63,445)

Net Loans 4,244,380 4,212,840

Other real estate and repossessed assets, net 767 896

Property and equipment, net 42,319 38,972

Bank-owned life insurance 54,072 53,750

Capitalized mortgage loan servicing rights, carried at fair value 32,233 31,493

Other intangibles, net 886 1,001

Goodwill 28,300 28,300

Accrued income and other assets 158,519 167,516

Total Assets $ 5,557,509 $ 5,505,720

Liabilities and Shareholders' Equity

Deposits

Non-interest bearing $ 991,140 $ 991,984

Savings and interest-bearing checking 2,146,403 2,113,260

Reciprocal 1,028,874 974,921

Time 657,043 662,858

Brokered time 57,220 18,659

Total Deposits 4,880,680 4,761,682

Other borrowings 27,010 77,003

Subordinated debentures 39,881 39,864

Accrued expenses and other liabilities 99,385 124,220

Total Liabilities 5,046,956 5,002,769

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: 20,585,805 shares at March 31, 2026 and 20,548,893 shares at December 31, 2025

307,679 307,845

Retained earnings 263,898 252,794

Accumulated other comprehensive loss (61,024) (57,688)

Total Shareholders’ Equity 510,553 502,951

Total Liabilities and Shareholders’ Equity $ 5,557,509 $ 5,505,720

INDEPENDENT BANK CORPORATION AND SUBSIDIARIES

Consolidated Statements of Operations

Three Months Ended

March 31,

2026 December 31, 2025 March 31,

2025

(Unaudited)

Interest Income (In thousands, except per share amounts)

Interest and fees on loans $ 59,249 $ 60,205 $ 57,768

Interest on securities

Taxable 3,354 3,513 4,036

Tax-exempt 2,522 2,633 2,770

Other investments 1,044 1,074 1,570

Total Interest Income 66,169 67,425 66,144

Interest Expense

Deposits 18,397 20,109 20,955

Other borrowings and subordinated debt and debentures 917 962 1,504

Total Interest Expense 19,314 21,071 22,459

Net Interest Income 46,855 46,354 43,685

Provision for credit losses 362 1,923 721

Net Interest Income After Provision for Credit Losses 46,493 44,431 42,964

Non-interest Income

Interchange income 3,234 3,186 3,127

Service charges on deposit accounts 2,935 3,096 2,814

Net gains (losses) on assets

Mortgage loans 1,308 1,372 2,303

Securities available for sale (26) (15) (330)

Mortgage loan servicing, net 1,646 899 (636)

Other 2,951 3,420 3,146

Total Non-interest Income 12,048 11,958 10,424

Non-interest Expense

Compensation and employee benefits 21,829 22,563 20,383

Data processing 3,952 3,428 3,729

Occupancy, net 2,413 2,171 2,223

Litigation expense

1,500 — —

Advertising 1,210 991 861

Interchange expense 1,191 1,165 1,119

Furniture, fixtures and equipment 894 897 885

FDIC deposit insurance 799 861 711

Loan and collection 752 589 786

Communications 593 471 591

Legal and professional 591 787 479

Merger related expense

300 — —

Other 2,287 2,155 2,495

Total Non-interest Expense 38,311 36,078 34,262

Income Before Income Tax 20,230 20,311 19,126

Income tax expense 3,355 1,739 3,536

Net Income $ 16,875 $ 18,572 $ 15,590

Net Income Per Common Share

Basic $ 0.82 $ 0.90 $ 0.74

Diluted $ 0.81 $ 0.89 $ 0.74

INDEPENDENT BANK CORPORATION AND SUBSIDIARIES

Selected Financial Data

March 31,

2026 December 31,

2025 September 30,

2025 June 30,

2025 March 31,

2025

(unaudited)

(Dollars in thousands except per share data)

Three Months Ended

Net interest income $ 46,855 $ 46,354 $ 45,361 $ 44,615 $ 43,685

Provision for credit losses 362 1,923 1,991 1,500 721

Non-interest income 12,048 11,958 11,937 11,325 10,424

Non-interest expense 38,311 36,078 34,131 33,762 34,262

Income before income tax 20,230 20,311 21,176 20,678 19,126

Income tax expense 3,355 1,739 3,674 3,801 3,536

Net income $ 16,875 $ 18,572 $ 17,502 $ 16,877 $ 15,590

Basic net income per common share $ 0.82 $ 0.90 $ 0.85 $ 0.81 $ 0.74

Diluted net income per common share 0.81 0.89 0.84 0.81 0.74

Cash dividend per share 0.28 0.26 0.26 0.26 0.26

Average shares outstanding 20,574,506 20,639,758 20,702,235 20,749,925 20,943,094

Average diluted shares outstanding 20,780,188 20,848,634 20,904,857 20,945,522 21,150,550

Performance Ratios

Return on average assets 1.24 % 1.35 % 1.27 % 1.27 % 1.18 %

Return on average equity 13.43 14.75 14.57 14.66 13.71

Efficiency ratio (1) 64.33 61.18 58.86 59.67 62.20

As a Percent of Average Interest-Earning Assets (1)

Interest income 5.15 % 5.24 % 5.38 % 5.35 % 5.28 %

Interest expense 1.50 1.62 1.84 1.77 1.79

Net interest income 3.65 3.62 3.54 3.58 3.49

Average Balances

Loans $ 4,315,371 $ 4,249,389 $ 4,201,557 $ 4,128,771 $ 4,060,941

Securities 796,251 815,269 826,362 846,052 883,676

Total earning assets 5,209,360 5,162,381 5,159,681 5,036,090 5,078,596

Total assets 5,522,244 5,449,518 5,451,922 5,324,959 5,378,022

Deposits 4,832,089 4,774,179 4,786,408 4,646,639 4,715,331

Interest bearing liabilities 3,892,702 3,846,367 3,862,024 3,763,477 3,799,852

Shareholders' equity 509,523 499,445 476,422 461,720 461,291

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

INDEPENDENT BANK CORPORATION AND SUBSIDIARIES

Selected Financial Data (continued)

March 31,

2026 December 31,

2025 September 30,

2025 June 30,

2025 March 31,

2025

(unaudited)

(Dollars in thousands except per share data)

End of Period

Capital

Tangible common equity ratio 8.71 % 8.65 % 8.44 % 8.16 % 8.26 %

Tangible common equity ratio excluding accumulated other comprehensive loss 9.61 9.51 9.35 9.24 9.31

Average equity to average assets 9.23 9.16 8.74 8.67 8.58

Total capital to risk-weighted assets (2) 13.79 13.59 13.67 14.20 14.51

Tier 1 capital to risk-weighted assets (2) 12.54 12.33 12.42 12.23 12.34

Common equity tier 1 capital to risk-weighted assets (2) 11.70 11.49 11.55 11.36 11.45

Tier 1 capital to average assets (2) 10.34 10.27 10.07 10.07 9.89

Common shareholders' equity per share of common stock $ 24.80 $ 24.48 $ 23.72 $ 22.65 $ 22.28

Tangible common equity per share of common stock 23.38 23.05 22.29 21.23 20.87

Total shares outstanding 20,585,805 20,548,893 20,691,604 20,715,650 20,970,115

Selected Balances

Loans $ 4,308,099 $ 4,276,285 $ 4,198,283 $ 4,164,367 $ 4,072,691

Securities 783,302 805,432 824,033 838,813 866,604

Total earning assets 5,255,657 5,195,002 5,204,380 5,105,579 5,031,975

Total assets 5,557,509 5,505,720 5,493,113 5,418,519 5,328,428

Deposits 4,880,680 4,761,682 4,859,155 4,659,359 4,633,931

Interest bearing liabilities 3,956,431 3,886,565 3,897,487 3,832,845 3,768,435

Shareholders' equity 510,553 502,951 490,742 469,250 467,277

(2)March 31, 2026 are Preliminary.

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 March 31,

2026 2025

(Dollars in thousands)

Net Interest Margin, Fully Taxable Equivalent ("FTE")

Net interest income $ 46,855 $ 43,685

Add: taxable equivalent adjustment 445 452

Net interest income - taxable equivalent $ 47,300 $ 44,137

Net interest margin (GAAP) (1) 3.61 % 3.46 %

Net interest margin (Non-GAAP FTE) (1) 3.65 % 3.49 %

(1)Annualized.

Tangible Common Equity Ratio

March 31,

2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025

(Dollars in thousands)

Common shareholders' equity $ 510,553 $ 502,951 $ 490,742 $ 469,250 $ 467,277

Less:

Goodwill 28,300 28,300 28,300 28,300 28,300

Other intangibles, net 886 1,001 1,123 1,244 1,366

Tangible common equity 481,367 473,650 461,319 439,706 437,611

Addition:

Accumulated other comprehensive loss for regulatory purposes 55,226 51,891 54,833 64,089 61,285

Tangible common equity excluding accumulated other comprehensive loss adjustments $ 536,593 $ 525,541 $ 516,152 $ 503,795 $ 498,896

Total assets $ 5,557,509 $ 5,505,720 $ 5,493,113 $ 5,418,519 $ 5,328,428

Less:

Goodwill 28,300 28,300 28,300 28,300 28,300

Other intangibles, net 886 1,001 1,123 1,244 1,366

Tangible assets 5,528,323 5,476,419 5,463,690 5,388,975 5,298,762

Addition:

Net unrealized losses on available for sale securities and derivatives, net of tax 55,226 51,891 54,833 64,089 61,285

Tangible assets excluding accumulated other comprehensive loss adjustments $ 5,583,549 $ 5,528,310 $ 5,518,523 $ 5,453,064 $ 5,360,047

Common equity ratio 9.19 % 9.14 % 8.93 % 8.66 % 8.77 %

Tangible common equity ratio 8.71 % 8.65 % 8.44 % 8.16 % 8.26 %

Tangible common equity ratio excluding accumulated other comprehensive loss 9.61 % 9.51 % 9.35 % 9.24 % 9.31 %

Tangible Common Equity per Share of Common Stock:

Common shareholders' equity $ 510,553 $ 502,951 $ 490,742 $ 469,250 $ 467,277

Tangible common equity $ 481,367 $ 473,650 $ 461,319 $ 439,706 $ 437,611

Shares of common stock outstanding (in thousands) 20,586 20,549 20,692 20,716 20,970

Common shareholders' equity per share of common stock $ 24.80 $ 24.48 $ 23.72 $ 22.65 $ 22.28

Tangible common equity per share of common stock $ 23.38 $ 23.05 $ 22.29 $ 21.23 $ 20.87

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.

EX-99.2

Filename: ibcp-20260423ex992.htm · Sequence: 3

Document

Exhibit 99.2

INDEPENDENT BANK CORPORATION AND SUBSIDIARIES

Supplemental Data

Non-performing assets

March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 March 31, 2025

(Dollars in thousands)

Non-accrual loans $ 37,775 $ 33,074 $ 22,598 $ 10,453 $ 9,026

Loans 90 days or more past due and still accruing interest — — — — —

Subtotal 37,775 33,074 22,598 10,453 9,026

Less: Government guaranteed loans 10,202 9,947 2,243 2,249 1,940

Total non-performing loans 27,573 23,127 20,355 8,204 7,086

Other real estate and repossessed assets 767 896 589 426 413

Total non-performing assets $ 28,340 $ 24,023 $ 20,944 $ 8,630 $ 7,499

As a percent of Portfolio Loans

Non-performing loans 0.64 % 0.54 % 0.48 % 0.20 % 0.17 %

Allowance for credit losses 1.48 1.48 1.49 1.47 1.47

Non-performing assets to total assets 0.51 0.44 0.38 0.16 0.14

Allowance for credit losses as a percent of non-performing loans 231.09 274.33 306.85 745.45 847.23

Allowance for credit losses

Three months ended March 31,

2026 2025

Loans Securities HTM Unfunded

Commitments(1) Loans Securities HTM Unfunded

Commitments

(Dollars in thousands)

Balance at beginning of period $ 63,445 $ 92 $ 5,440 $ 59,379 $ 132 $ 5,131

Additions (deductions)

Provision for credit losses 540 — (178) 724 (3) —

Recoveries credited to allowance 499 — — 550 — —

Assets charged against the allowance (765) — — (618) — —

Additions included in non-interest expense — — — — — 196

Balance at end of period $ 63,719 $ 92 $ 5,262 $ 60,035 $ 129 $ 5,327

Net loans charged against the allowance to average Portfolio Loans 0.03 % 0.01 %

(1)

Beginning in the fourth quarter of 2025, we classified the provision for unfunded lending commitments in the provision for credit losses in the Consolidated Statements of Operations.

Capitalization

March 31, 2026 December 31, 2025

(In thousands)

Subordinated debt $ — $ —

Subordinated debentures 39,881 39,864

Amount not qualifying as regulatory capital (1,224) (1,224)

Amount qualifying as regulatory capital 38,657 38,640

Shareholders’ equity

Common stock 307,679 307,845

Retained earnings 263,898 252,794

Accumulated other comprehensive loss

(61,024) (57,688)

Total shareholders’ equity 510,553 502,951

Total capitalization $ 549,210 $ 541,591

Non-Interest Income

Three months ended

March 31, 2026 December 31, 2025 March 31, 2025

(In thousands)

Interchange income $ 3,234 $ 3,186 $ 3,127

Service charges on deposit accounts 2,935 3,096 2,814

Net gains (losses) on assets

Mortgage loans 1,308 1,372 2,303

Equity securities at fair value — — —

Securities (26) (15) (330)

Mortgage loan servicing, net 1,646 899 (636)

Investment and insurance commissions 809 1,006 754

Bank owned life insurance 322 306 297

Other 1,820 2,108 2,095

Total non-interest income $ 12,048 $ 11,958 $ 10,424

Capitalized Mortgage Loan Servicing Rights

Three months ended March 31,

2026 2025

(In thousands)

Balance at beginning of period $ 31,493 $ 46,796

Originated servicing rights capitalized 730 855

Change in fair value 10 (2,424)

Sale of originated servicing rights (1) — (12,962)

Loss on sale of originated servicing rights (1) — (94)

Balance at end of period $ 32,233 $ 32,171

(1) On January 31, 2025 we sold $931.6 million of mortgage loan servicing rights (26.3% of total servicing portfolio) and transferred the servicing on March 3, 2025. This sale represented approximately $13.1 million (41.5%) of the total capitalized mortgage loan servicing right asset.

Mortgage Loan Activity

Three months ended

March 31, 2026 December 31, 2025 March 31, 2025

(Dollars in thousands)

Mortgage loans originated $ 130,574 $ 134,258 $ 107,779

Mortgage loans sold 84,065 86,150 82,618

Net gains on mortgage loans 1,308 1,372 2,303

Net gains as a percent of mortgage loans sold ("Loan Sales Margin") 1.56 % 1.59 % 2.79 %

Fair value adjustments included in the Loan Sales Margin 0.09 % 0.05 % 0.88 %

Non-Interest Expense

Three months ended

March 31, 2026 December 31, 2025 March 31, 2025

(In thousands)

Compensation $ 14,123 $ 13,884 $ 13,197

Performance-based compensation 3,648 4,820 3,441

Payroll taxes and employee benefits 4,058 3,859 3,745

Compensation and employee benefits 21,829 22,563 20,383

Data processing 3,952 3,428 3,729

Occupancy, net 2,413 2,171 2,223

Litigation expense

1,500 — —

Advertising 1,210 991 861

Interchange expense 1,191 1,165 1,119

Furniture, fixtures and equipment 894 897 885

FDIC deposit insurance 799 589 711

Loan and collection 752 861 786

Communications 593 471 591

Legal and professional 591 787 479

Taxes, licenses and fees

360 315 326

Merger related expense

300 — —

Director fees 266 255 232

Amortization of intangible assets 115 122 122

Net (gains) losses on other real estate and repossessed assets 15 31 (66)

Recovery for loss reimbursement on sold loans (13) (13) (11)

Other 1,544 1,445 1,892

Total non-interest expense $ 38,311 $ 36,078 $ 34,262

Average Balances and Tax Equivalent Rates

Three Months Ended March 31,

2026 2025

Average

Balance Interest Rate (2) Average

Balance Interest Rate (2)

(Dollars in thousands)

Assets

Taxable loans $ 4,306,954 $ 59,161 5.54 % $ 4,053,593 $ 57,685 5.74 %

Tax-exempt loans (1) 8,417 111 5.37 7,348 105 5.78

Taxable securities 534,965 3,354 2.51 619,764 4,036 2.60

Tax-exempt securities (1) 261,286 2,944 4.51 263,912 3,200 4.85

Interest bearing cash 79,636 749 3.81 117,706 1,291 4.45

Other investments 18,102 295 6.52 16,273 279 6.85

Interest Earning Assets 5,209,360 66,614 5.15 5,078,596 66,596 5.28

Cash and due from banks 56,469 57,464

Other assets, net 256,415 241,962

Total Assets $ 5,522,244 $ 5,378,022

Liabilities

Savings and interest-bearing checking 3,008,287 11,915 1.61 2,836,290 12,840 1.84

Time deposits 817,202 6,482 3.22 871,377 8,115 3.78

Other borrowings 67,213 917 5.53 92,185 1,504 6.58

Interest Bearing Liabilities 3,892,702 19,314 2.01 % 3,799,852 22,459 2.40

Non-interest bearing deposits 1,006,600 1,007,665

Other liabilities 113,419 109,214

Shareholders’ equity 509,523 461,291

Total liabilities and shareholders’ equity $ 5,522,244 $ 5,378,022

Net Interest Income $ 47,300 $ 44,137

Net Interest Income as a Percent of Average Interest Earning Assets 3.65 % 3.49 %

(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

Commercial Loan Portfolio Analysis as of March 31, 2026

Total Commercial Loans

Watch Credits Percent of Loan Category in Watch Credit

Loan Category All Loans Performing Non-accrual Total

(Dollars in thousands)

Land $ 11,417 $ 13 $ — $ 13 0.1 %

Land Development 19,976 — — — —

Construction 126,121 — 14,314 14,314 11.3

Income Producing 814,531 22,152 12,696 34,848 4.3

Owner Occupied 675,873 12,109 67 12,176 1.8

Total Commercial Real Estate Loans $ 1,647,918 $ 34,274 $ 27,077 $ 61,351 3.7

Other Commercial Loans $ 619,451 $ 42,261 — $ 42,261 6.8

Total non-performing commercial loans $ 27077

Commercial Loan Portfolio Analysis as of December 31, 2025

Total Commercial Loans

Watch Credits Percent of Loan Category in Watch Credit

Loan Category All Loans Performing Non-accrual Total

(Dollars in thousands)

Land $ 10,293 $ 15 $ — $ 15 0.1 %

Land Development 22,808 — — — —

Construction 158,235 — 14,269 14,269 9.0

Income Producing 784,506 30,309 9,262 39,571 5.0

Owner Occupied 648,338 11,498 — 11,498 1.8

Total Commercial Real Estate Loans $ 1,624,180 $ 41,822 $ 23,531 $ 65,353 4.0

Other Commercial Loans $ 589,377 $ 27,929 — $ 27,929 4.7

Total non-performing commercial loans $ 23531

EX-99.3

Filename: ibcp20261qearningspresen.htm · Sequence: 4

ibcp20261qearningspresen

Earnings Call: First Quarter 2026 April 23, 2026 (NASDAQ: IBCP)

Cautionary note regarding forward-looking statements This presentation contains forward-looking statements, which are any statements or information that are not historical facts. These forward-looking statements include statements about our anticipated future revenue and expenses and our future plans and prospects. Forward-looking statements involve inherent risks and uncertainties, and important factors could cause actual results to differ materially from those anticipated. For example, deterioration in general business and economic conditions or turbulence in domestic or global financial markets could adversely affect our revenues and the values of our assets and liabilities, reduce the availability of funding to us, lead to a tightening of credit, and increase stock price volatility. Our results could also be adversely affected by changes in interest rates; increases in unemployment rates; deterioration in the credit quality of our loan portfolios or in the value of the collateral securing those loans; deterioration in the value of our investment securities; legal and regulatory developments; changes in customer behavior and preferences; breaches in data security; and management’s ability to effectively manage the multitude of risks facing our business. Key risk factors that could affect our future results are described in more detail in our Annual Report on Form 10-K for the year ended December 31, 2025 and the other reports we file with the SEC, including under the heading “Risk Factors.” Investors should not place undue reliance on forward-looking statements as a prediction of our future results. Any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise. 2 2

• Formal Remarks − William B. (Brad) Kessel President and Chief Executive Officer − Gavin A. Mohr Executive Vice President and Chief Financial Officer − Joel F. Rahn Executive Vice President – Commercial Banking • Question and Answer session • Closing Remarks Note: This presentation is available at www.IndependentBank.com in the Investor Relations area under the “Presentations” tab. Agenda 3

1Q'26 Overview • Total loans increased 3.0% annualized with commercial loan growth of $53.8 million or 9.9% annualized • New loan production continues to be largely focused on new commercial clients that bring deposits to the bank • Asset quality remained sound with NPAs/Total Assets at 0.51% and NCO of 0.03% of average loans in the quarter • Generated a ROAA and ROAE of 1.24% and 13.43%, respectively • Net interest margin of 3.65% compared to 3.49% in the prior year quarter • Net growth in total deposits, net of brokered deposits of $80.4 or 6.9% annualized • Tangible book value per share increased 5.9% annualized from end of prior quarter • An increase in tangible common equity ratio to 8.71% • An increase in CET1 ratio to 11.70% • Net income of $16.9 million, or $0.81 per diluted share • Increase in net interest income of $3.2 million over the prior year quarter and $0.5 million over the Fourth quarter of 2025 • Strong profitability and prudent balance sheet management results 12.0% growth in tangible book value per share compared to the prior year quarter. Healthy Capital & Liquidity Positions Positive Trends in Key Metrics Solid Loan Growth and Strong Asset Quality 1Q'26 Earnings 4 4

Non-interest Bearing 20% Savings and Interest-bearing Checking 44% Reciprocal 21% Time 14% Brokered 1% Low-Cost Deposit Franchise Focused on Core Deposit Growth • Substantial core funding – $4.17 billion of non-maturity deposit accounts (85.4% of total deposits). • Core deposit increase of $80.4 million (6.9% annualized) in 1Q'26. • Time deposit decrease of $5.8 million (3.6% annualized) in 1Q'26. • Total deposits increased $119.0 million (10.1%) since 12/31/25 with non-interest bearing down $0.8 million, savings and interest- bearing checking up $33.1 million, reciprocal up $54.0 million, time down $5.8 million and brokered time up $38.6 million. • Deposits by Customer Type: − Retail – 47% − Commercial – 38% − Municipal – 15% Deposit Composition 3/31/26 Cost of Deposits (%)/Total Deposits ($B) 5 Core Deposits: 85.4% $4.9B $ 4 .6 $ 4 .6 $ 4 .6 $ 4 .6 $ 4 .7 $ 4 .6 $ 4 .7 $ 4 .9 $ 4 .8 $ 4 .9 1 .9 9 % 2 .0 1 % 2 .0 3 % 2 .1 1 % 1 .9 3 % 1 .8 0 % 1 .7 7 % 1 .8 2 % 1 .6 7 % 1 .5 4 % Q 4 '2 3 Q 1 '2 4 Q 2 '2 4 Q 3 '2 4 Q 4 '2 4 Q 1 '2 5 Q 2 '2 5 Q 3 '2 5 Q 4 '2 5 Q 1 '2 6 Total Deposits Cost Of Deposits

0 .4 2 % 0 .5 1 % 0 .6 0 % 0 .7 3 % 0 .8 2 % 0 .8 5 % 0 .8 5 % 0 .7 4 % 0 .6 3 % 0 .3 0 % 0 .2 3 % 0 .3 9 % 0 .1 4 % 0 .1 2 % 0 .1 1 % 0 .1 0 % 0 .1 0 % 0 .1 2 % 0 .3 3 % 0 .7 9 % 1 .2 5 % 1 .5 7 % 1 .8 0 % 1 .9 9 % 2 .0 1 % 2 .0 2 % 2 .1 0 % 1 .9 2 % 1 .8 0 % 1 .7 6 % 1 .8 2 % 1 .6 7 % 1 .5 4 % 0 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% M a r- 1 8 J u n -1 8 S e p -1 8 D e c -1 8 M a r- 1 9 J u n -1 9 S e p -1 9 D e c -1 9 M a r- 2 0 J u n -2 0 S e p -2 0 D e c -2 0 M a r- 2 1 J u n -2 1 S e p -2 1 D e c -2 1 M a r- 2 2 J u n -2 2 S e p -2 2 D e c -2 2 M a r- 2 3 J u n -2 3 S e p -2 3 D e c -2 3 M a r- 2 4 J u n -2 4 S e p -2 4 D e c -2 4 M a r- 2 5 J u n -2 5 S e p -2 5 D e c -2 5 M a r- 2 6 Historic IBC Cost of Funds (excluding sub debt) vs. the Federal Funds Rate (with Deposit Balances) D e p o s it B a la n c e s ( $ i n t h o u s a n d s ) 6 F e d e ra l F u n d s R a te Account Type Cycle Beta Sav & Int-bearing chking 22.7% Reciprocal 68.6% Time 60.0% Total int-bearing Dep (excl brokered) 43.2% Total COF IBC (excl Sub Debt) 33.4% IBC COF Fed Funds Spot Fed Effective Total Deposits

Commercial 52% Mortgage 35% Installment 12% Held for Sale 1% Diversified Loan Portfolio Focused on High Quality Growth • Portfolio loan changes in 1Q'26: − Commercial – increased $53.8 million. …Average new origination yield of 6.39% vs a 6.08% portfolio yield. − Mortgage – decreased $4.5 million. …Average new origination yield of 6.22% vs a 4.87% portfolio yield. − Installment – decreased $17.5 million. …Average new origination yield of 6.86% vs a 5.23% portfolio yield. • Mortgage loan portfolio weighted average FICO of 751 and average balance of $189,230. • Installment weighted average FICO of 755 and average balance of $25,648. • Commercial loan rate mix: − 38% fixed / 62% variable. − Indices – 35% tied to Prime and 65% tied to SOFR. • Mortgage loan (including HELOC) rate mix: − 60% fixed / 40% adjustable or variable. − 7% tied to a US Treasury rate and 93% tied to SOFR.Note: Portfolio loans exclude loans HFS. Loan Composition 3/31/26 Yield on Loans (%)/ Total Portfolio Loans ($B) 7 $4.3B $ 3 .8 $ 3 .8 $ 3 .9 $ 3 .9 $ 4 .0 $ 4 .1 $ 4 .2 $ 4 .2 $ 4 .3 $ 4 .3 5 .7 3 % 5 .8 0 % 5 .9 3 % 5 .9 6 % 5 .8 3 % 5 .7 4 % 5 .7 6 % 5 .8 1 % 5 .6 4 % 5 .5 4 % 4 Q '2 3 1 Q '2 4 2 Q '2 4 3 Q '2 4 4 Q '2 4 1 Q '2 5 2 Q '2 5 3 Q '2 5 4 Q '2 5 1 Q '2 6 Total Portfolio Loans Yield on Loans

8.76%, Commercial Industrial, $212 4.68%, Multifamily, $121 4.47%, Office, $103 4.17%, Retail, $101 3.37%, Construction, $58 2.20%, Special Purpose, $51 1.27%, 1-4 Family, $46 1.14%, Land, Vacant Land and Development, $26 $718MM 32% 8.42% $191 8.01% $182 7.37% $167 6.06% $137 5.27% $120 4.84% $110 4.50% $102 4.49% $102 3.41% $77 $62 $58 $49 $1,549MM 68% Manufacturing Construction Health Care and Social Assistance Real Estate Rental and Leasing Dealership Finance Hotel and Accomodations Retail Other Services (except Public Administration) Wholesale Finance and Insurance Professional, Scientific, and Technical Services Transportation Concentrations within $2.3B Commercial Loan Portfolio C&I or Owner Occupied Loans by Industry as a % of Total Commercial Loans ($ in millions) Investor RE by Collateral Type as a % of Total Commercial Loans ($ in millions) Note: $1.549 billion, or 68.3% of the commercial loan portfolio is C&I or owner occupied, while $718 million, or 31.7% is investment real estate. The percentage concentrations are based on the entire commercial portfolio of $2.27 billion as of March 31, 2026 8

$5.2 $6.0 $7.1 $8.2 $20.4 $23.1 $27.6 0.1% 0.1% 0.1% 0.2% 0.5% 0.5% 0.6% -0.1% 0.1% 0.3% 0.5% 0.7% 0.9% $- $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Non-performing Loans (NPLs) NPLs / Total Loans $5.2 $6.0 $7.1 $8.2 $20.4 $23.1 $27.6 $0.6 $0.9 $0.4 $0.4 $0.6 $0.9 $0.8 $- $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 2023 2024 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 Non-performing Loans 90+ Days PD ORE/ORA $3.3 $7.0 $3.9 $6.6 $5.1 $7.8 $8.2 0.1% 0.2% 0.1% 0.2% 0.1% 0.2% 0.2% 0.0% 0.2% 0.4% 0.6% 0.8% 1.0% 1.2% 1.4% $- $2.0 $4.0 $6.0 $8.0 $10.0 2023 2024 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 30-89 Days PD 30-89 Days PD / Total Loans $0.6 $0.9 $0.4 $0.4 $0.6 $0.9 $0.8 $- $0.2 $0.4 $0.6 $0.8 $1.0 2023 2024 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 Note 1: Non-performing loans and non-performing assets exclude troubled debt restructurings that are performing. Credit Quality Summary Non-performing Loans ($ in Millions) ORE/ORA ($ in Millions) 30 to 89 Days Delinquent ($ in Millions) Non-performing Assets ($ in Millions) 9

14.2 14.5 14.2 13.7 13.6 13.8 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1`26 11.2 11.4 11.4 11.6 11.5 11.7 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1`26 9.9 9.9 10.1 10.1 10.2 10.3 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1`26 8.0 8.3 8.2 8.4 8.7 8.7 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1`26 • Long-term capital Priorities: Capital retention to support organic growth, acquisitions and return of capital through strong and consistent dividends and share repurchases. • Well capitalized in all regulatory capital measurements. • Tangible common equity ratio excluding the impact of unrealized losses on securities AFS and HTM is 9.6% • The reduction in Total RBC ratio in 3Q'25 was due primarily to the redemption of $40 million in subordinated debt on August 31, 2025. Strong Capital Position TCE / TA (%) Leverage Ratio (%) CET1 Ratio (%) Total RBC Ratio (%) 10

$ 3 9 .9 $ 4 0 .6 $ 3 8 .4 $ 3 8 .4 $ 3 9 .4 $ 4 0 .1 $ 4 0 .2 $ 4 1 .3 $ 4 1 .9 $ 4 2 .9 $ 4 3 .7 $ 4 4 .6 $ 4 5 .4 $ 4 6 .4 $ 4 6 .9 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 3.00 3.26 3.49 3.52 3.33 3.26 3.23 3.26 3.30 3.40 3.37 3.45 3.49 3.58 3.54 3.62 3.65 0.12 0.77 2.18 3.65 4.38 4.99 5.26 5.33 5.33 5.33 5.16 4.66 4.33 4.33 4.30 3.90 3.64 0.10 0.12 0.45 0.92 1.39 1.72 1.93 2.11 2.14 2.16 2.22 2.02 1.86 1.86 1.95 1.73 1.6 0 1 2 3 4 5 6 Q 1 '2 2 Q 2 '2 2 Q 3 '2 2 Q 4 '2 2 Q 1 '2 3 Q 2 '2 3 Q 3 '2 3 Q 4 '2 3 Q 1 '2 4 Q 2 '2 4 Q 3 '2 4 Q 4 '2 4 Q 1 '2 5 Q 2 '2 5 Q 3 '2 5 Q 4 '2 5 Q 1 '2 6 Net Interest Margin (FTE) Average Effective FF Yield Cost of Funds Net Interest Margin/Income • Net interest income was $46.9 million in 1Q'26 compared to $43.7 million in the prior year quarter. The change is due to an increase in average earning assets and the net interest margin compared to the year- ago quarter. • Net interest margin was 3.65% during the first quarter of 2026, compared to 3.49% in the year- ago quarter and 3.62% in the fourth quarter of 2025. • 11th consecutive quarter of increasing net interest income. Yields, NIM and Cost of Funds (%) Net Interest Income ($ in Millions) 11

4Q'25 3.62% Change in Earning Asset Yield/Mix -0.06% Change in interest bearing liability mix 0.01% Decrease in funding costs 0.10% Interest charge-off on commercial loan -0.02% 1Q'26 3.65% 1Q'26 NIM Changes Linked Quarter Average Balances and FTE Rates ($ in thousands) Linked Quarter Analysis 12 1Q26 4Q25 Change Avg Bal Inc/Exp Yield Avg Bal Inc/Exp Yield Avg Bal Inc/Exp Yield Cash $79,636 $748 3.81% $79,621 $780 3.89% $15 ($32) -0.08% Investments 814,353 6,594 3.24% 833,371 6,863 3.29% (19,018) (269) -0.05% Commercial loans 2,252,105 33,965 6.12% 2,168,947 34,106 6.24% 83,158 (141) -0.12% Mortgage loans 1,534,204 18,369 4.80% 1,532,931 18,779 4.90% 1,273 (410) -0.10% Consumer loans 529,063 6,939 5.25% 547,511 7,343 5.36% (18,448) (404) -0.11% Earning assets $5,209,360 $66,615 5.16% $5,162,381 $67,871 5.24% $46,979 ($1,256) -0.08% Nonmaturity deposits $3,008,287 $11,915 1.61% $2,932,767 $12,743 1.72% $75,520 (828) -0.11% CDARS deposits 111,032 867 3.17% 109,779 938 3.39% 1,253 (71) -0.22% Retail Time deposits 658,548 5,188 3.19% 667,990 5,682 3.37% (9,442) (494) -0.18% Brokered deposits 47,622 427 3.64% 70,055 746 4.22% (22,433) (319) -0.58% Bank borrowings 27,340 240 3.56% 25,920 243 3.72% 1,420 (3) -0.16% IBC debt 39,873 677 6.89% 39,856 719 7.16% 17 (42) -0.27% Cost of funds $3,892,702 $19,314 2.01% $3,846,367 $21,071 2.17% $46,335 ($1,757) -0.16% Free funds $1,316,658 $1,316,014 $644 Net interest income $47,301 $46,800 $501 Net interest margin 3.65% 3.62% 0.03%

March 31, 2026 -200 -100 Base-rate 100 200 Net Interest Income $195,430 $197,693 $199,445 $201,943 $204,794 Change from Base -2.01% -0.88% 1.25% 2.68% December 31, 2025 -200 -100 Base-rate 100 200 Net Interest Income $191,340 $194,101 $196,298 $198,944 $202,205 Change from Base -2.53% -1.12% 1.35% 3.01% Interest Rate Risk Management • The base case modeled NII is slightly higher during the quarter due to $70 million of earning asset growth and 1 basis point of modeled margin expansion. Earning asset expansion is centered in commercial loans up $54 million and overnight liquidity, up $40 million. Runoff in lower yielding investments and consumer loans helped fund earning asset growth. Asset and liability yields were stable during the quarter, with asset yields up 2 basis points and liability costs 1 basis point higher. • The NII sensitivity position to lower rates declined modestly while the benefit to higher rates remained largely unchanged. Reduced exposure to lower rates is due to $75 million notional of floor purchases, termination of $87 million of short term pay fixed swaps and a slight shortening in the maturity structure of time deposits. The overall position is closely matched for smaller rate changes of +/- 100 basis points. The bank has modest exposure to larger rate declines and benefits from larger rate increases. • Base-rate is a static balance sheet applying the spot yield curve from the valuation date. • Stable core funding base. Transaction accounts fund 38.4% of assets and other non-maturity deposits fund another 17.4% of assets. Low wholesale funding of just 2.2% of assets. • 38.2% of assets reprice in 1 month and 49.3% reprice in the next 12 months. • Continually evaluating strategies to manage NII through hedging, funding strategies as well as product pricing and structure. Changes in Net Interest Income (Dollars in 000’s) Simulation analyses calculate the change in net interest income over the next twelve months, under immediate parallel shifts in interest rates, based upon a static statement of financial condition, which includes derivative instruments, and does not consider loan fees. 13

Interchange income $3,234 Service Chg Dep $2,935 Gain (Loss)- Mortgage Sale $1,308 Gain (Loss)- Securities $(26) Mortgage loan servicing, net $1,646 Investment & insurance commissions $809 Bank owned life insurance $322 Other income $1,820 Strong Non-interest Income • The $2.3 million comparative quarterly increase in mortgage loan servicing, net is primarily attributed 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. The decrease in servicing revenue is attributed to the sale of approximately $931 million of mortgage servicing rights on January 31, 2025. • Mortgage banking: − $1.3 million in net gains on mortgage loans in 1Q'26 vs. $2.3 million in the year ago quarter. The decrease is primarily due to lower profit margins on mortgage loan sales that was partially offset by an increase in volume of mortgage loans sold. − $130.6 million in mortgage loan originations in 1Q'26 vs. $107.8 million in 1Q’25 and $134.3 million in 4Q'25. − 1Q'26 mortgage loan servicing includes a $0.9 million ($0.04) per diluted share, after tax) increase in fair value adjustment due to price compared to a decrease of $1.5 million ($0.06 per diluted share, after tax) in the year ago quarter. Source: Company documents. 1Q'26 Non-interest Income (thousands) Non-interest Income Trends ($M) 14 $12.0MM $ 9 .1 $ 1 2 .6 $ 1 5 .2 $ 9 .5 $ 1 9 .1 $ 1 0 .4 $ 1 1 .3 $ 1 1 .9 $ 1 2 .0 $ 1 2 .0 1 2 .2 % 1 6 .2 % 1 8 .6 % 1 2 .2 % 2 2 .2 % 1 3 .6 % 1 4 .5 % 1 4 .7 % 1 5 .1 % 1 5 .4 % 0.0 5.0 10.0 15.0 20.0 25.0 30.0 $- $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 $14.0 $16.0 $18.0 $20.0 Q 4 '2 3 Q 1 '2 4 Q 2 '2 4 Q 3 '2 4 Q 4 '2 4 Q 1 '2 5 Q 2 '2 5 Q 3 '2 5 Q 4 '2 5 Q 1 '2 6 Non-interest Income Non-interest Inc/Operating Rev (%)

5 9 .9 % 6 0 .7 % 6 0 .3 % 6 0 .9 % 6 2 .2 % 6 0 .9 % 6 1 .4 % 6 0 .9 % 6 0 .0 % 6 0 .5 % 6 1 .0 % 3 Q '2 3 4 Q '2 3 1 Q '2 4 2 Q '2 4 3 Q '2 4 4 Q '2 4 1 Q '2 5 2 Q '2 5 3 Q '2 5 4 Q '2 5 1 Q '2 6 $ 3 2 .2 $ 3 3 .3 $ 3 2 .6 $ 3 7 .0 $ 3 4 .3 $ 3 3 .8 $ 3 4 .1 $ 3 6 .1 $ 3 8 .3 $- $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 $40.0 Q 1 '2 4 Q 2 '2 4 Q 3 '2 4 Q 4 '2 4 Q 1 '2 5 Q 2 '2 5 Q 3 '2 5 Q 4 '2 5 Q 1 '2 6 Compensation and Benefits Loan and Collection Occupancy Data Processing FDIC Insurance Other Focus on Improved Efficiency • 1Q'26 efficiency ratio of 64.3%. • Compensation and employee benefits expense of $21.8 million, a increase of $1.4 million from the prior year quarter. • Performance-based compensation was $0.2 million higher than the prior year quarter. • Payroll taxes and employee benefits decreased $0.2 million primarily due to lower healthcare related costs. • Data processing costs increased by $0.2 million primarily due to core data processor annual asset growth and CPI related cost increases as well as price increases in other software solutions. • Litigation expense was $1.5 million in 1Q’26 compared to zero in the prior year quarter. • Merger related expense was $0.3 million in the current quarter compared to zero in the prior year quarter. • Advertising expense increased $0.3 million due primarily to customer incentives true up. • Opportunities exist to gain additional efficiencies as we continue to optimize our delivery channels. Non-interest Expense ($M) Efficiency Ratio (4 quarter rolling average) Source: Company documents. 15

Outlook for 2026 Outlook for 2026 *as of January, 2026 • IBCP forecast of approximately 4.5%-5.5% overall loan growth is based on an increase in commercial loans (11%-12%) with mortgage loans (0%-1%) and installment loans declining (5.0%-5.5%). • This growth forecast also assumes a stable Michigan economy. • The forecast assumes 0.25% Fed rate cuts in March and August in the federal funds rate while long-term interest rates increase slightly over year-end 2025 levels. • IBCP forecast of high-single digit (7%-8%) growth is primarily supported by an increase in earning assets and a favorable shift in the earning asset base. Expect the net interest margin (NIM) to increase (0.18% - 0.23%) in 2026 compared to full-year 2025. Primary driver is a decrease in yield on interest bearing liabilities that is partially offset by a decrease in earning asset yield. • Very difficult area to forecast. Future provision levels under CECL will be particularly sensitive to loan growth and mix, projected economic conditions, watch credit levels and loan default volumes. • The allowance as a percentage of total loans was at 1.48% at 12/31/25 • A full year 2026 provision (expense) for credit losses of approximately 0.20%-0.25% of average total portfolio loans would not be unreasonable. 1Q'26 Update • Total portfolio loans increased $31.8 million (3.0% annualized) in 1Q’26 which is below our forecasted range. Commercial loan growth of $53.8 million (9.9% annualized), mortgage loan decrease of $4.5 million (-1.2% annualized) and installment loan decrease of $17.5 million (-13.2% annualized). • 1Q’26 net interest income was $3.2 million (7.3%) higher than the prior year quarter which is within the forecasted range. The net interest margin was 3.65% for the current quarter and 3.49% for the prior year quarter and up 0.03% from the linked quarter. • The provision for credit losses was an expense of $0.4 million (0.03% annualized) for the first quarter below the forecasted range. LENDING Continued growth NET INTEREST INCOME Growth driven primarily by higher average earning assets PROVISION FOR CREDIT LOSSES Steady asset quality metrics 16

Outlook for 2026 Outlook for 2026 *as of January, 2026 • Quarterly 2026 forecasted range of $11.3M to $12.3M. Full year up 3.0% to 4.0% from 2025 actual of $45.6M • Expect mortgage loan origination volumes to be down 6.0% to 7.0% and net gain on sale to be down 14.0% to 16.0% compared to full year 2025. Assumes mortgage loan servicing net of approximately $0.5M per quarter in 2026. • IBCP forecasts 2026 quarterly range of $36.0M to $37.0M with the total for the year up 5.0% to 6.0% from the 2025 actual of $138.2M. • The primary driver is an increase in compensation and employee benefits, data processing; loan and collections and occupancy. • Approximately a 17% effective income tax rate in 2026.This assumes a 21% statutory federal corporate income tax rate during 2026. • 2026 share repurchase authorization at approximately 5% (1.1 million) of outstanding shares. • Share repurchases will be dependent on capital levels, capital allocation options and share price trends. We are not modeling any share repurchases in 2026. 1Q'26 Update • Non-interest income totaled $12.0 million in 1Q’26, which is within the forecasted range. Mortgage loan originations increased $22.8 million over the prior year quarter while net gain as percentage of mortgages loans sold was 1.23% below the prior year quarter. • Total non-interest expense was $38.3 million in the 1Q’26, which was higher than our forecasted quarterly range. Non-recurring expense items include $1.5 million in litigation expense and $0.4 million true up related to promotional payments to deposit customers. • Actual effective income tax rate of 16.6% for the first quarter of 2026. • There were no shares of common stock repurchased in the first quarter of 2026. NON-INTEREST INCOME NON-INTEREST EXPENSES INCOME TAXES SHARE REPURCHASES 17

Strategic Initiatives • Outside Sales - Relationship banking focus thru consistent calling on prospects and COI’s. • Inside Service/Sales – high retention + high cross sales, collaboration of strategic partners. • Digital Marketing - Leverage data insights, target strategically, elevate brand image, personalize the customer experience. • Leverage Referral Network – Fintech (ReferLive); • New Products – SMB deposit product, Business digital pmts. • Market Expansion – Through existing indirect dealer network. • Selective and opportunistic bank and branch acquisitions. • Process Automation – leverage core investments + Fintech partnerships: (Blend) mortgage • Branch Optimization - including assessing existing locations, new locations, service hours, staffing, & workflow and leveraging technology. • Promotion of Self-Serve Channels - (One Wallet, Treasury One, etc.) • Leverage Banker Capacity – including on-line appointment setting. • Leverage Middleware + API’s – expediate new technology implementation. • Optimize Office Space Utilization • Invest in our Team – competitive C&B offering, skill training, leadership development, etc. • High Employee Engagement – thru fostering a culture of purpose, opportunity, continuous learning, diversity, reward + recognition. • Promote Teamwork + Alignment across all business units. • Invest in technology - to enhance the employee experience + customer experience. • Client Service Model – well defined and applied. • Utilize three layers of defense (business unit, risk management and internal audit). Independent & collaborative approach. • Consistent earnings + maintain strong capital levels. • Proactive credit quality monitoring and problem resolution. • Manage Liquidity and IRR. • Manage Operational risk, emphasizing cyber security, fraud prevention, and regulatory compliance. • Effective relationships with regulators & other outside oversight parties. Proactive, transparent and good communication. PROCESS IMPROVEMENT & COST CONTROLS RISK MANAGEMENT GROWTH TALENT MANAGEMENT 18

Question and Answer Session Closing Remarks NASDAQ: IBCP Thank you for attending 19

Appendix Additional Financial Data and Non-GAAP Reconciliations 20

here Year Ended December 31, Quarter Ended, ($M except per share data) 2022 2023 2024 2025 3/31/25 6/1/25 9/30/25 12/31/25 3/31/26 Balance Sheet: Total Assets $5,000 $5,264 $5,338 $5,506 $5,328 $5,419 $5,493 $5,506 $5,558 Portfolio Loans $3,465 $3,791 $4,039 $4,276 $4,073 $4,164 $4,198 $4,276 $4,308 Deposits $4,379 $4,622 $4,654 $4,762 $4,634 $4,659 $4,859 $4,762 $4,881 Tangible Common Equity $317 $374 $425 $474 $438 $440 $461 $474 $481 Profitability: Pre-Tax, Pre-Provision Income $83.7 $79.9 $87.5 $87.4 $19.8 $22.2 $23.2 $22.2 $20.6 Pre-Tax, Pre-Prov / Avg. Assets 1.72% 1.56% 1.77% 1.62% 1.48% 1.67% 1.69% 1.63% 1.51% Net Income(1) $63.8 $59.1 $66.8 $68.5 $15.6 $16.9 $17.5 $18.6 $16.9 Diluted EPS $2.97 $2.79 $3.16 $3.27 $0.74 $0.81 $0.84 $0.89 $0.81 Return on Average Assets(1) 1.32% 1.15% 1.27% 1.27% 1.18% 1.27% 1.27% 1.35% 1.24% Return on Average Equity(1) 18.5% 16.0% 15.7% 14.4% 13.7% 14.7% 14.6% 14.8% 13.4% Net Interest Margin (FTE) 3.32% 3.26% 3.38% 3.56% 3.49% 3.58% 3.54% 3.62% 3.65% Efficiency Ratio 59.4% 60.8% 60.8% 60.5% 62.2% 59.7% 58.9% 61.2% 64.3% Asset Quality: NPAs / Assets 0.08% 0.11% 0.13% 0.44% 0.14% 0.16% 0.38% 0.44% 0.51% NPAs / Loans + OREO 0.12% 0.15% 0.17% 0.56% 0.18% 0.21% 0.50% 0.56% 0.66% ACL / Total Portfolio Loans 1.51% 1.44% 1.47% 1.48% 1.47% 1.47% 1.49% 1.48% 1.48% NCOs / Avg. Loans 0.00% 0.01% 0.02% 0.04% 0.01% 0.02% 0.07% 0.01% 0.01% Capital Ratios: TCE Ratio 6.4% 7.2% 8.0% 8.7% 8.3% 8.2% 8.4% 8.7% 8.7% Leverage Ratio 8.8% 9.0% 9.9% 10.3% 9.9% 10.0% 10.1% 10.3% 10.3% Tier 1 Capital Ratio 11.4% 11.5% 12.1% 12.4% 12.3% 12.2% 12.4% 12.3% 12.5% Total Capital Ratio 13.7% 13.7% 14.2% 13.6% 14.5% 14.2% 13.7% 13.6% 13.8% Historical Financial Data 21

22 Historic Financial Performance Year Ended December 31, ($M except per share data) 2020 2021 2022 2023 2024 2025 5 Year CAGR Balance Sheet: Total Assets $4,204 $4,705 $5,000 $5,264 $5,338 $5,506 5.5% Portfolio Loans $2,734 $2,905 $3,465 $3,791 $4,039 $4,276 9.4% Deposits $3,637 $4,117 $4,379 $4,623 $4,654 $4,762 5.5% Tangible Common Equity $357 $367 $317 $374 $425 $473 5.8% Profitability: Pre-Tax, Pre-Provision Income $81.9 $75.4 $83.1 $79.9 $87.5 $87.4 1.3% Pre-Tax, Pre-Prov / Avg. Assets 2.08% 1.62% 1.68% 1.56% 1.67% 1.62% - Net Income(1) $56.2 $62.9 $63.4 $59.1 $66.8 $68.5 4.0% Diluted EPS $2.53 $2.88 $2.97 $2.79 $3.16 $3.27 5.3% Return on Average Assets(1) 1.43% 1.41% 1.31% 1.15% 1.27% 1.27% - Return on Average Equity(1) 15.68% 16.13% 18.41% 16.40% 15.66% 14.43% - Net Interest Margin (FTE) 3.34% 3.10% 3.32% 3.26% 3.38% 3.56% - Efficiency Ratio 59.24% 62.87% 59.71% 60.67% 60.83% 60.50% - Asset Quality: NPAs / Assets 0.21% 0.11% 0.08% 0.11% 0.13% 0.44% - NPAs / Loans + OREO 0.32% 0.18% 0.12% 0.15% 0.17% 0.56% - Reserves / Total Loans 1.30% 1.63% 1.51% 1.44% 1.47% 1.48% - NCOs / Avg. Loans 0.11% (0.07%) 0.00% 0.01% 0.02% 0.03% - Capital Ratios: TCE Ratio 8.6% 7.9% 6.4% 7.2% 8.0% 8.7% - Leverage Ratio 9.2% 8.8% 8.9% 9.0% 9.9% 10.3% - Tier 1 Capital Ratio 13.3% 12.1% 11.4% 11.5% 12.1% 12.4% - Total Capital Ratio 16.0% 14.5% 13.6% 13.7% 14.2% 13.6% - Shareholder Value: TBV/Share $ 16.33 $ 17.33 $ 15.04 $ 17.96 $ 20.33 $ 23.04 7.1% Dividends Paid per Share $ 0.80 $ 0.84 $ 0.88 $ 0.92 $ 0.96 $ 1.04 5.4% Value of Shares Repurchased $ 14.23 $ 17.3 $ 4.0 $ 5.2 $ - $ 12.4 -

Sources of Liquidity 1Q 2026 Current On-balance sheet Excess reserves at the Fed $ 121.4 Unpledged AFS Securities $ 476.4 Total On-balance sheet $ 597.8 On balance sheet liquidity to total deposits 11% Available Sources of Liquidity Unused FHLB & FRB (including BTFP) $ 2,142.3 Borrow capacity on unpledged bonds $ 414.0 Total Available Sources $ 2,556.3 Sources of Liquidity to total deposits 54% 6 0 % 5 8 % 5 6 % 5 6 % 5 7 % 4 9 .0 % 5 1 .8 % 2 1 8 % 1 9 5 % 1 9 6 % 1 9 1 .8 % 1 8 0 .7 % 2 0 7 .0 % 2 2 1 .5 % 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 On-balance sheet / Uninsured Deposits Available Sources / Uninsured Deposits Note: Portfolio loans exclude loans HFS. Liquidity / Uninsured Deposits Strong Liquidity Position • Significant liquidity position to manage the current environment. • Total available liquidity significantly exceeds (222%) estimated uninsured deposit balances. • Attractive loan to deposit ratio of 89.8%. • Uninsured deposit to total deposits of approximately 23.9%, excluding brokered time deposits. Sources of Liquidity 23

$ 3 ,5 7 0 $ 3 ,5 9 4 $ 3 ,5 8 6 $ 3 ,6 3 7 $ 3 ,7 2 0 $ 3 ,5 8 6 $ 3 ,7 2 8 $1,057 $1,060 $1,048 $1,022 $1,139 $1,176 $1,153 $4,627 $4,654 $4,634 $4,659 $4,859 $4,762 $4,881 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 Insured Deposits Uninsured Deposits Granular Deposit Base • Average deposit account balance of approximately $22,237. • Average deposit balance excluding reciprocal deposit of $17,572. • Average Commercial deposit balance of $96,269. • Average retail deposit balance of $11,591. • 10 largest deposit accounts total $407.0 million or 8.34% of total deposits. − $272.9 million in ICS with FDIC coverage. • 100 largest deposit accounts total $1.18 billion or 24.21% of total deposits. − $700.0 million in ICS with FDIC coverage. Note: Uninsured deposit calculation is an approximation. Uninsured Deposit by Segment (3/31/26) Uninsured Deposit Trend ($MM) 24 $2,026 $1,252 $392 $57 $257 $576 $321 $2,283 $1,828 $713 $57 Consumer Commercial Public Funds Brokered Insured Deposits Uninsured Deposits Series4

Non-GAAP to GAAP Reconciliation 25 March 31, December 31, September 30, June 30, March 31, 2025 2024 2023 2022 2026 2025 2025 2025 2025 Net interest income $180,015 $166,248 $156,329 $149,561 $46,855 $46,354 $45,361 $44,615 $43,685 Non-interest income 45,644 56,362 50,676 61,909 12,048 11,958 11,937 11,325 10,424 Non-interest expense 138,233 135,096 127,119 128,341 38,311 36,078 34,131 33,762 34,262 Pre-Tax, Pre-Provision Income 87,426 87,514 79,886 83,129 $20,592 $22,234 $23,167 $22,178 $19,847 Provision for credit losses 6,135 4,468 6,210 5,341 362 1,923 1,991 1,500 721 Income tax expense 12,750 16,256 14,609 14,437 3,355 1,739 3,674 3,801 3,536 Net income $68,541 $66,790 $59,067 $63,351 $16,875 $18,572 $17,502 $16,877 $15,590 Average total assets $5,401,441 $5,239,952 $5,115,624 $4,825,723 $5,522,244 $5,449,518 $5,451,922 $5,324,959 $5,378,022 Performance Ratios Return on average assets 1.27% 1.27% 1.15% 1.31% 1.24% 1.35% 1.27% 1.27% 1.18% Pre-tax, Provision return on average assets 1.62% 1.67% 1.56% 1.72% 1.51% 1.62% 1.69% 1.67% 1.50% Year Ended December 31, Quarter Ended (Dollars in thousands)

Reconciliation of Non-GAAP Financial Measures 26 Reconciliation of Non-GAAP Financial Measures 2026 2025 Net Interest Margin, Fully Taxable Equivalent ("FTE") Net interest income 46,855$ 43,685$ Add: taxable equivalent adjustment 445 452 Net interest income - taxable equivalent 47,300$ 44,137$ Net interest margin (GAAP) (1) 3.61% 3.46% Net interest margin (FTE) (1) 3.65% 3.49% (1) Quarter to date are annualized. Three Months Ended March 31, (Dollars in thousands)

Reconciliation of Non-GAAP Financial Measures (continued) 27 Reconciliation of Non-GAAP Financial Measures (continued) Independent Bank Corporation Tangible Common Equity Ratio March 31, December 31, Sepetmber 30, June 30, March 31, 2025 2024 2023 2022 2026 2025 2025 2025 2025 Common shareholders' equity 502,951$ 454,686$ 404,449$ 347,596$ 510,553$ 502,951$ 490,742$ 469,250$ 467,277$ Less: Goodwill 28,300 28,300 28,300 28,300 28,300 28,300 28,300 28,300 28,300 Other intangibles 1,001 1,488 2,004 2,551 886 1,001 1,123 1,244 1,366 Tangible common equity 473,650$ 424,898$ 374,145$ 316,745$ 481,367$ 473,650$ 461,319$ 439,706$ 437,611$ Total assets $ 5,505,720 $ 5,338,104 $ 5,263,726 $ 4,999,787 $ 5,557,509 $ 5,505,720 $ 5,493,113 $ 5,418,519 $ 5,328,428 Less: Goodwill 28,300 28,300 28,300 28,300 28,300 28,300 28,300 28,300 28,300 Other intangibles 1,001 1,488 2,004 2,551 886 1,001 1,123 1,244 1,366 Tangible assets $ 5,476,419 $ 5,308,316 $ 5,233,422 $ 4,968,936 $ 5,528,323 $ 5,476,419 $ 5,463,690 $ 5,388,975 $ 5,298,762 Common equity ratio 9.14% 8.52% 7.68% 6.95% 9.19% 9.14% 8.93% 8.66% 8.77% Tangible common equity ratio 8.65% 8.00% 7.15% 6.37% 8.71% 8.65% 8.44% 8.16% 8.26% Year Ended December 31, Quarter Ended (Dollars in thousands)

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Apr. 23, 2026

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Apr. 23, 2026

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INDEPENDENT BANK CORPORATION

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0-7818

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38-2032782

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4200 East Beltline

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Grand Rapids

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616

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