Independent Bank Corporation to Combine Bank Charters

Apr 11, 2001, 01:00 ET from Independent Bank Corporation

    IONIA, Mich., April 11 /PRNewswire/ -- Independent Bank Corporation
 (Nasdaq: IBCP), a Michigan-based bank holding company announced that two of
 its five affiliate banks will combine to form a single institution.
     Independent Bank, headquartered in Ionia, Michigan, will combine with
 Independent Bank MSB, Bay City, Michigan, which was acquired in September of
 1999.  The combined bank will have assets totaling approximately $900 million
 and serve 27 communities through 35 offices.
     Michael M. Magee, Jr. will be the president and chief executive officer of
 the combined bank and will relocate to the Bay City area.  Mr. Magee joined
 Independent Bank as vice president of retail services in 1987 and has served
 as its president and chief executive officer since 1993.  The company recently
 announced that Robert N. Shuster, president and chief executive officer of
 Independent Bank MSB, would become its chief financial officer.
     Independent Bank Corporation had assets totaling nearly $1.8 billion at
 December 31, 2000.  Its subsidiaries operate 89 offices across Michigan's
 Lower Peninsula.  The company's common stock trades on the Nasdaq Stock Market
 under the symbol IBCP.
 
 

SOURCE Independent Bank Corporation
    IONIA, Mich., April 11 /PRNewswire/ -- Independent Bank Corporation
 (Nasdaq: IBCP), a Michigan-based bank holding company announced that two of
 its five affiliate banks will combine to form a single institution.
     Independent Bank, headquartered in Ionia, Michigan, will combine with
 Independent Bank MSB, Bay City, Michigan, which was acquired in September of
 1999.  The combined bank will have assets totaling approximately $900 million
 and serve 27 communities through 35 offices.
     Michael M. Magee, Jr. will be the president and chief executive officer of
 the combined bank and will relocate to the Bay City area.  Mr. Magee joined
 Independent Bank as vice president of retail services in 1987 and has served
 as its president and chief executive officer since 1993.  The company recently
 announced that Robert N. Shuster, president and chief executive officer of
 Independent Bank MSB, would become its chief financial officer.
     Independent Bank Corporation had assets totaling nearly $1.8 billion at
 December 31, 2000.  Its subsidiaries operate 89 offices across Michigan's
 Lower Peninsula.  The company's common stock trades on the Nasdaq Stock Market
 under the symbol IBCP.
 
 SOURCE  Independent Bank Corporation