Independent Bank (NASDAQ: IBCP) Q1 2026 profit rises with stronger margin

Rhea-AI Filing Summary

Independent Bank Corporation reported solid first‑quarter 2026 results, showing steady growth in earnings and balance sheet strength. Net income was $16.9 million, or $0.81 per diluted share, up from $15.6 million, or $0.74, a year earlier.

Net interest income rose to $46.9 million, with a fully tax‑equivalent net interest margin of 3.65%, up from 3.49% in the prior‑year quarter, helped by lower deposit costs. Return on average assets was 1.24% and return on average equity was 13.43%, indicating strong profitability.

Loans reached $4.31 billion and deposits $4.88 billion, with core deposits growing and time deposits declining modestly. Asset quality remained sound: non‑performing loans were 0.64% of total portfolio loans, while the allowance for credit losses stayed at 1.48%. Capital remained robust, with a tangible common equity ratio of 8.71% and total risk‑based capital ratio of 12.68% at the bank level.

Insights

Banking sector equity analyst

Independent Bank posts steady Q1 growth with strong capital and credit quality.

Independent Bank Corporation delivered higher Q1 2026 net income of $16.9M and diluted EPS of $0.81, supported by net interest income growth and an improved net interest margin of 3.65% versus 3.49% a year earlier.

Profitability metrics remained healthy, with return on average assets of 1.24% and return on average equity of 13.43%. Balance sheet trends were constructive: portfolio loans increased to $4.31B and deposits to $4.88B, while the tangible common equity ratio improved to 8.71% on March 31, 2026.

Credit quality indicators stayed strong, with non‑performing loans at 0.64% of total portfolio loans and an allowance for credit losses of 1.48%. Regulatory capital ratios at the bank remained well above “well capitalized” thresholds, providing flexibility for organic growth and the recently announced merger with HCB Financial Corp., subject to approvals.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Net income: $16.9M Diluted EPS: $0.81/share Net interest margin (FTE): 3.65% +5 more

8 metrics

Net income $16.9M Q1 2026 net income

Diluted EPS $0.81/share Q1 2026 diluted earnings per share

Net interest margin (FTE) 3.65% Q1 2026, vs 3.49% in Q1 2025

Net interest income $46.9M Q1 2026 net interest income

Loans $4.31B Total portfolio loans at March 31, 2026

Deposits $4.88B Total deposits at March 31, 2026

Non-performing loans ratio 0.64% Non-performing loans as % of total portfolio loans at March 31, 2026

Tangible common equity ratio 8.71% Tangible common equity to tangible assets at March 31, 2026

Key Terms

net interest margin, tangible common equity, non-performing loans, allowance for credit losses, +2 more

6 terms

net interest margin financial

"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"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

tangible common equity financial

"Tangible common equity totaled $481.4 million at March 31, 2026, or $23.38 per share"

Tangible common equity is the portion of a company’s net worth that belongs to ordinary shareholders after removing intangible items (like goodwill or patents) and any preferred claims; it’s often expressed on a per-share basis. Think of it as the hard, sellable value left for common owners if you removed non-physical assets and paid off debts—investors use it to judge how much real cushion a company has and whether the stock might be under- or over-valued.

non-performing loans financial

"Total non-performing loans were $27,573 at March 31, 2026 with a ratio of non-performing loans to total portfolio loans of 0.64%"

Loans on a bank’s books where the borrower has stopped making scheduled payments for a prolonged period (commonly about 90 days), so the lender no longer expects full repayment on time. Think of them as overdue IOUs that may never be paid back; a rising level of such loans weakens a lender’s earnings and balance sheet, signals greater credit risk in the economy, and can hurt investors through lower dividends, loan losses, or declines in the lender’s stock value.

allowance for credit losses financial

"At March 31, 2026, the allowance for credit losses for loans totaled $63.7 million, or 1.48% of total portfolio loans"

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

CECL financial

"Future provision levels under CECL will be particularly sensitive to loan growth and mix, projected economic conditions, watch credit levels and loan default volumes"

An accounting standard that requires banks and other lenders to estimate and record expected credit losses for loans and similar financial assets up front, based on historical experience, current conditions and reasonable forecasts. It matters to investors because it changes how much a firm must set aside as a loss reserve, which directly affects reported profits, capital levels and perceived financial strength—think of it as stocking a reserve for future bad loans before the rain starts.

Tier 1 capital to risk-weighted assets financial

"Tier 1 capital to risk-weighted assets was 11.43% at March 31, 2026 for Independent Bank"

Earnings Snapshot

Net interest income: $46.9M

Q1 2026

Net interest income $46.9M +7.3% vs Q1 2025

Net income $16.9M +8.2% vs Q1 2025

Diluted EPS $0.81 +9.5% vs $0.74 in Q1 2025

Net interest margin (FTE) 3.65% +0.16 percentage points vs Q1 2025

Understanding 8-K Material Events →

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.

2

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

3

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

1

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.

2

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.

3

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.

4

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.

5

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

6

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

7

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.

8

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.

9

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.

10

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.

1

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.

2

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

3

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

4

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

5

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)

FAQ

How did Independent Bank Corporation (IBCP) perform in Q1 2026?

Independent Bank Corporation reported higher Q1 2026 net income of $16.9 million, or $0.81 per diluted share, compared with $15.6 million, or $0.74, a year earlier. Results were driven by stronger net interest income, a higher net interest margin, and disciplined expense management.

What were Independent Bank Corporation’s key profitability metrics in Q1 2026?

In Q1 2026, Independent Bank Corporation generated a return on average assets of 1.24% and a return on average equity of 13.43%. These measures show the bank converted its asset base and shareholder capital into earnings efficiently while maintaining conservative risk and capital levels.

How did loans and deposits change for IBCP in Q1 2026?

At March 31, 2026, portfolio loans were $4.31 billion, up from $4.28 billion at year‑end 2025, led by commercial growth. Deposits totaled $4.88 billion, increasing $119.0 million, with gains in savings, interest‑bearing checking, reciprocal, and brokered time deposits partially offset by lower traditional time deposits.

What is Independent Bank Corporation’s net interest margin and why is it important?

Independent Bank Corporation’s fully tax‑equivalent net interest margin was 3.65% in Q1 2026, up from 3.49% in Q1 2025. Net interest margin measures the spread between interest earned on assets and interest paid on liabilities, indicating how effectively the bank prices loans and deposits to generate core earnings.

How strong is IBCP’s asset quality as of March 31, 2026?

Asset quality remained solid, with non‑performing loans of $27.6 million, or 0.64% of total portfolio loans. The allowance for credit losses was $63.7 million, equal to 1.48% of total portfolio loans, providing a sizable buffer against potential future credit losses.

What are Independent Bank Corporation’s capital ratios at quarter end 2026?

At March 31, 2026, Independent Bank Corporation reported tangible common equity of $481.4 million and a tangible common equity ratio of 8.71%. Its bank subsidiary showed a Tier 1 capital to average total assets ratio of 9.43% and a total risk‑based capital ratio of 12.68%, both above regulatory “well capitalized” levels.

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