secwatch.observer — SEC 8-K summary
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Issuer:     INDEPENDENT BANK CORP /MI/ (IBCP)
CIK:        0000039311
Form:       8-K
Filed at:   2026-03-18T23:59:59+00:00
Accession:  0000039311-26-000020
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/39311/000003931126000020/0000039311-26-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/39311/000003931126000020/ibcp-20260318.htm
  HTML page:      https://secwatch.observer/filing/0000039311-26-000020

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