Independent Bank Corporation and HCB Financial Corp. announced the execution of a definitive merger agreement under which HCB will merge with Independent in a cash and stock transaction.  The partnership combines Michigan's  most people focused and community oriented franchises, strategically bolstering Independent's footprint in the high-growth corridor between Grand Rapids and Lansing.  Based on financial data as of December, 31 2025 the combined organization will have approximately $6.1 billion in total assets.  $5.3 billion in total deposits and $4.7 billion in total loans.

"We are thrilled to welcome the Highpoint Community Bank team and customers to Independent Bank", said Brad Kessel, President and CEO of Independent Bank Corporation. "This partnership is a perfect fit both geographically and culturally. By combining Highpoint's strong core deposit base and deep community roots with our expanded product set, we are better positioned to serve the families and businesses of Michigan while delivering meaningful value to our shareholders.

Mark Kolanowski, President and CEO of HCB Financial Corp. added, "Joining forces with Independent Bank, represents an exciting new chapter for our organization.  We have long respected Independents committment to community banking.  This merger strengthens our ability to serve customers with greater lending capacity and enhanced digital capabilities, while keeping our employees part of a Michigan-headquartered team rooted in and committed to our local communities.

The transaction has been unanimously approved by the respective Boards of each organization and is expected to close early in the third quarter of 2026, subject to customary regulatory approvals, the approval of HCB shareholders, and the satisfaction of certain other closing conditions.