1. Mike Stodolak promoted to Executive Vice President, Retail Banking. 2. Russ Daniel will retire after 27 years of service. 3. Stodalak brings 38 years of financial experience, enhancing customer relations. 4. Bank demonstrates commitment to leadership continuity and customer service growth. 5. Company operational assets are approximately $5.5 billion.
FAQ
Why Bullish?
Promoting a well-experienced executive can enhance operational efficiency and client relationships, likely boosting investor confidence.
How important is it?
The leadership change signifies stability and growth potential, important for investor confidence.
Why Short Term?
Leadership changes usually exhibit immediate effects on stock sentiment as the transition occurs smoothly and strategically.
Independent Bank Corporation Promotes Mike Stodolak to Executive Vice President of Retail Banking
GRAND RAPIDS, Mich., January 02, 2026 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ: IBCP) has announced the promotion of Michael J. Stodolak to the position of Executive Vice President, Retail Banking. This shift comes as part of the organization's succession plan following the upcoming retirement of Russ Daniel, the current Executive Vice President.
Overview of Leadership Transition
Mike Stodolak, who previously served as the Senior Vice President and Market President at Independent Bank, will take over the role after Russ Daniel retires in March. Stodolak has amassed over 38 years in the financial services sector, with 25 of those years dedicated to Independent Bank. During his tenure, he has played a pivotal role in enhancing the bank's retail network and developing its Consumer Lending program.
Achievements of Mike Stodolak
Throughout his career at Independent Bank, Stodolak has introduced numerous efficiencies to the branch network, fostering both growth and professional development within the retail team. His emphasis on career advancement and nurturing customer relationships has been well recognized.
- 38 years of experience in financial services.
- Oversaw the bank’s retail network and Consumer Lending for the past 25 years.
- Implemented various efficiencies to improve branch operations.
- Focus on career development and customer relationship building.
Legacy of Russ Daniel
Russ Daniel has served Independent Bank for 27 years, contributing significantly in various leadership roles, including guidance in Mortgage, Bank Operations, Wealth Management, Marketing, and Digital Sales. His commitment to the bank's growth and culture has been unwavering and transformative.
“Independent Bank is deeply grateful for Russ’s countless contributions, his strategic thinking, and his passion for development of both people and processes throughout his time with the Bank,” stated Brad Kessel, President and CEO of Independent Bank. “As we celebrate Russ’s success and extraordinary service, we are very proud to welcome Mike into his well-deserved new role.”
About Independent Bank Corporation
Independent Bank Corporation (NASDAQ: IBCP) is a Michigan-based bank holding company with total assets around $5.5 billion. Established in 1864 as the First National Bank of Ionia, Independent Bank Corporation operates numerous locations across Michigan's Lower Peninsula, offering a wide range of financial services including:
- Commercial banking
- Mortgage lending
- Investment services
- Title services
The organization is committed to delivering exceptional personal service and value to its customers, stockholders, and the communities it serves. To learn more, visit IndependentBank.com.
Contact Information
For further inquiries, please contact Lane Solomon at Independent Bank via phone at 616.447.3942 or email at LSolomon@ibcp.com.