---
schema_version: "secwatch.filing_event.v1"
accession: "0000039311-26-000020"
form_type: "8-K"
ticker: "IBCP"
cik: "0000039311"
company_name: "INDEPENDENT BANK CORP /MI/"
filed_at: "2026-03-18T23:59:59+00:00"
generated_at: "2026-05-15T09:59:08.508907+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Independent Bank to acquire HCB Financial for ~$70.2M in cash/stock, ~6% EPS accretive

## Summary
- HCB shareholders receive 1.590 shares of IBCP stock + $17.51 cash per share; total consideration ~$70.2M.
- Deal expected to be ~6% accretive to 2027 EPS; TBV dilution of ~4% earned back in ~3.4 years.
- Combined entity pro forma ~$6.1B assets, $5.3B deposits, $4.7B loans; projected CET1 ~11.5%.
- HCB's 7 branches fill geographic gap between Grand Rapids and Lansing; low-cost deposit base (1.50%).
- Transaction unanimously approved; expected close early Q3 2026, subject to regulatory and HCB shareholder approval.

## SEC filing metadata
- accession: 0000039311-26-000020
- form_type: 8-K
- ticker: IBCP
- cik: 0000039311
- company_name: INDEPENDENT BANK CORP /MI/
- filed_at: 2026-03-18T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/39311/000003931126000020/0000039311-26-000020-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/39311/000003931126000020/ibcp-20260318.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000039311-26-000020
- JSON: https://secwatch.observer/filing/0000039311-26-000020.json
- Plain text: https://secwatch.observer/filing/0000039311-26-000020.txt

## Key facts
- Material Agreements
  INDEPENDENT BANK CORP /MI/ entered into Agreement and Plan of Merger with HCB Financial Corp. valued at approximately $70.2 million (effective 2026-03-18).
  - Action: entry
  - Agreement: merger
  - Counterparty: HCB Financial Corp.
  - Value: approximately $70.2 million
  - Effective: 2026-03-18
  source text: On March 18, 2026, Independent Bank Corporation (“ Independent ”) and HCB Financial Corp. (“ HCB ”) entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) providing for a business combination of Independent and HCB.
  evidence_url: https://www.sec.gov/Archives/edgar/data/39311/000003931126000020/0000039311-26-000020-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.