1. IBCP announced a share repurchase plan for 2026. This plan allows buybacks of 1.1 million shares. 2. The 2026 plan is valid until December 31, 2026. It represents approximately 5% of common stock. 3. Repurchases depend on market factors and financial performance. Funding will come from the company's cash on hand. 4. The current 2025 repurchase plan expires December 31, 2025. To date, 407,113 shares have been repurchased at $12.4 million.
FAQ
Why Bullish?
Share buyback plans generally indicate confidence in financial health, potentially increasing stock price. Historical precedents show that buybacks usually contribute to positive price reactions.
How important is it?
Share buybacks are strongly regarded by investors, indicating strong financial health and intention to return capital. This can elevate investor sentiment and boost the stock price.
Why Short Term?
The announcement likely will impact stock prices soon as buybacks commence. Immediate market reactions tend to occur during such announcements.
GRAND RAPIDS, Mich., Dec. 16, 2025 (GLOBE NEWSWIRE) -- Independent Bank Corporation (NASDAQ:IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that its Board of Directors authorized a 2026 share repurchase plan on December 16, 2025. Under the terms of the 2026 share repurchase plan, the Company is authorized to buy back up to 1,100,000 shares, representing approximately 5% of its common stock. The 2026 share repurchase plan is authorized to last through December 31, 2026.
The Company intends to accomplish 2026 share repurchases through open market transactions, though the Company could accomplish repurchases through other means, such as privately negotiated transactions. The timing and amount of any share repurchases will depend on a variety of factors, including, among others, securities law restrictions, the trading price of the Company's common stock, regulatory requirements, potential alternative uses for capital, and the Company's financial performance. The 2026 share repurchase plan does not obligate the Company to acquire any particular amount of common stock, and it may be modified or suspended at any time at the Company's discretion. The Company expects to fund any repurchases from cash on hand.
The Company's 2025 share repurchase plan will expire on December 31, 2025. Through December 16, 2025, the Company repurchased 407,113 shares of its common stock at an aggregate cost of $12.4 million.
About Independent Bank Corporation
Independent Bank Corporation (NASDAQ:IBCP) is a Michigan-based bank holding company with total assets of approximately $5.5 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 |
| Gavin A. Mohr, Chief Financial Officer, 616.447.3929 |
