Independent Bank Corporation Announces Hiring of New Chief Financial Officer

Rhea-AI Summary

Independent Bank Corporation (NASDAQ: IBCP) announced the hiring of Gavin A. Mohr as the new Chief Financial Officer, effective September 14, 2020. Mohr previously served as CFO at STAR Financial Bank and brings significant experience in financial leadership. Interim CFO Robert Shuster, who returned post-retirement, will assist Mohr's transition until October 31, 2020. CEO William B. Kessel expressed excitement about Mohr joining the team, highlighting his strong leadership and technical skills.

Independent Bank Corporation has total assets of approximately $4.0 billion and operates across Michigan.

Positive

• Hiring of experienced CFO Gavin A. Mohr, enhancing leadership team.
• Transition support from interim CFO Robert Shuster until October 31, 2020.

Negative

• None.

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

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

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

About Independent Bank Corporation

Independent Bank Corporation (NASDAQ: IBCP) is a Michigan-based bank holding company with total assets of approximately $4.0 billion.  Founded as First National Bank of Ionia in 1864, Independent Bank Corporation operates a branch network across Michigan's Lower Peninsula through one state-chartered bank subsidiary.  This subsidiary (Independent Bank) provides a full range of financial services, including commercial banking, mortgage lending, investments, insurance and title services.  Independent Bank Corporation is committed to providing exceptional personal service and value to its customers, stockholders and the communities it serves. 

For more information, please visit our Web site at: IndependentBank.com.

Contact:		William B. Kessel, President and CEO, 616.447.3933 Robert N. Shuster, Chief Financial Officer, 616.522.1765

FAQ

Who is the new CFO of Independent Bank Corporation?

Gavin A. Mohr has been hired as the new Chief Financial Officer.

When will Gavin A. Mohr start as CFO of IBCP?

Gavin A. Mohr will commence his role as CFO on September 14, 2020.

Who is assisting the new CFO during the transition period at IBCP?

Robert Shuster, the interim CFO, will assist Mohr until approximately October 31, 2020.

What is the total asset value of Independent Bank Corporation?

Independent Bank Corporation has total assets of approximately $4.0 billion.

What is the background of Gavin A. Mohr before joining IBCP?

Gavin A. Mohr served as CFO of STAR Financial Bank and has experience at Yadkin Bank and Trust.