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Independent Bank Corporation, the holding company for Independent Bank and Highpoint Community Bank, increased its Board of Directors from 10 to 11 members and appointed Nathan E. Tagg to fill the new seat, effective July 21, 2026, under the Agreement and Plan of Merger for its acquisition of HCB Financial Corp.
Tagg also joins the boards of Independent Bank and Highpoint Community Bank and the Audit Committee, with compensation consistent with other non-employee directors. The Grand Rapids-based bank holding company has approximately $6.3 billion in total assets and operates 66 locations across Michigan’s Lower Peninsula. Highpoint Community Bank’s systems are expected to be fully integrated on November 9, 2026.
Independent Bank Corp /MI/ director Nathaniel Ernest Tagg reports holding 28,734 shares of Common Stock, owned directly. This initial insider ownership disclosure reflects an existing position and does not report any recent purchases, sales, option exercises, or other trading activity.
Independent Bank Corporation reported strong second-quarter 2026 results, with net income of $18.8 million, or $0.90 per diluted share, compared with $16.9 million, or $0.81, a year earlier. Net interest income rose to $47.9 million and the net interest margin improved to 3.71% from 3.58% in the prior-year quarter and 3.65% in the first quarter of 2026. Non-interest income increased to $15.3 million, helped by a $1.6 million gain on equity securities and higher mortgage servicing income. Return on average assets was 1.37% and return on average equity was 14.52%.
Portfolio loans reached $4.41 billion, up from $4.28 billion at December 31, 2025, including net loan growth of $105.8 million in the quarter. Deposits were $4.86 billion, up $100.5 million year to date. Asset quality remained solid but with higher non-performing loans of $32.8 million, or 0.74% of total portfolio loans, while the allowance for credit losses covered 200% of non-performing loans. Total assets were $5.66 billion. Tangible common equity was $499.3 million, or $24.24 per share, and the tangible common equity ratio was 8.86%, with a common equity tier 1 ratio of 11.70%. The company paid a quarterly dividend of $0.28 per share and on July 1, 2026 completed the acquisition of HCB Financial Corp., adding Highpoint Community Bank as a subsidiary.
Independent Bank Corp. director Joan A. Budden reported a grant of 293.36 Phantom Stock Units tied to the company’s common stock. The units were valued at $33.71 per unit and were accrued under Independent Bank Corporation’s Deferred Compensation and Stock Purchase Plan for Non Employee Directors.
These Phantom Stock Units are to be settled in common stock when Budden retires as a director. After the grant, her phantom unit balance was 35,609.23 units. She also held 6,307.81 common shares directly, including 16.8393 shares acquired through a dividend reinvestment program during the second quarter, and 810 common shares indirectly through an IRA.
Independent Bank Corp. director William J. Boer reported an award of 285 shares of Common Stock at $36.07 per share. This grant increased his direct holdings to 17,073.75 shares. He also reports 28,124 shares held indirectly by a trust, which includes 138.25 shares acquired through a dividend reinvestment program during the second quarter.
Cok Michael J reported acquisition or exercise transactions in this Form 4 filing.
Independent Bank Corp. director Michael J. Cok reported two compensation-related grants of Phantom Stock Units. On May 14, 2026, he received 232.7600 Phantom Stock Units at a reference value of $33.7100 per unit, bringing his phantom unit balance to 28,252.7400.
On July 1, 2026, he received an additional 365.2200 Phantom Stock Units at $32.4600 per unit, increasing his balance to 28,617.9600. According to the plan, these units are accrued under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors and will be settled in common stock when he retires from the board.
GULIS STEPHEN L JR reported acquisition or exercise transactions in this Form 4 filing.
INDEPENDENT BANK CORP /MI/ director Stephen L. Gulis Jr. received a grant of 528.2400 Phantom Stock Units on 2026-05-14. These units were credited under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors at a reference price of $33.7100 per unit.
The Phantom Stock Units are designed to mirror the value of the company’s common stock and are to be settled in shares of Common Stock when he retires from the board. Following this award, his total Phantom Stock Units reported in this plan increased to 64118.6600 units, all held as direct derivative interests.
Wooldridge Michael G. reported acquisition or exercise transactions in this Form 4 filing.
Independent Bank Corp. director Michael G. Wooldridge reported compensation-related awards of phantom stock units tied to the company’s common stock. On July 1, 2026, he received 137 phantom stock units at a reference price of $32.46 per unit, bringing his credited balance to 425.46 units. A prior award on May 14, 2026 added 2.38 units at $33.71 per unit. The footnotes state these units were accrued under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors and will be settled in common stock when he retires as a director.
Archer Dennis W. Jr reported acquisition or exercise transactions in this Form 4 filing.
Independent Bank Corporation director Dennis W. Archer Jr. received a grant of 53.15 Phantom Stock Units on May 14, 2026. The units were valued at $33.71 per unit and increase his deferred Phantom Stock Unit balance to 6,451.74 units.
According to the company’s Deferred Compensation and Stock Purchase Plan for Non Employee Directors, these Phantom Stock Units are to be settled in Independent Bank’s Common Stock when Archer retires from the board. This is a compensation-related award rather than an open-market share purchase or sale.
Keller Christina reported acquisition or exercise transactions in this Form 4 filing.
Independent Bank Corp. director Christina Keller received additional equity-based compensation through phantom stock units. On July 1, 2026, she was granted 635.34 phantom stock units at a reference price of $32.46 per unit, bringing her phantom unit balance to 25,044.29 units. An earlier grant on May 14, 2026 added 201.09 units at $33.71 per unit. These phantom stock units were accrued under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors and will be settled in common stock when she retires from the board.