Independent Bank Corporation · NASDAQ:IBCP
Independent Bank — Shareholder Meeting (April 2021)
20 slides from Independent Bank's shareholder meeting presentation, Apr 22, 2021
Slide 1: Independent Bank Corporation 2021 Annual Shareholders Meeting
INDEPENDENT BANKCORPORATION2021 Annual Shareholders Meeting April 20, 2021
Slide 2: Cautionary note regarding forward-looking statements
Cautionary note regarding forward-looking statements This presentation contains forward-looking statements about Independent Bank Corporation. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements and are based on the
Slide 3: Today's Agenda
Today’s Agenda Welcome and Call to Order – IBC ChairmanVoting upon matters listed in the Company’s 2021 Proxy Statement – IBC ChairmanBusiness Update by IBC President & CEOQuestion and answer session – IBC President & CEO and IBC EVP & CFOAdjournment 3
Slide 4: Independent Bank Corporation Board of Directors
Independent Bank Corporation Board of Directors 4
Slide 5: IBC Executive Management Team
IBC Executive Management Team 5 EVP and Chief Risk Officer since 2012Joined the Company in April 2007 as EVP – Commercial Previous experience with Comerica for 25 years CEO of IBC and Independent Bank since 2013Joined Independent Bank in 1994Began career with Crowe Chizek and Company Joined Independ
Slide 6: 2021 Annual Meeting of Shareholders
2021 Annual Meeting of Shareholders Secretary for the meeting (Gavin A. Mohr)Record date: February 19, 2021Approximate distribution date of Proxy Statement: March 8, 2021Shares entitled to vote: 21,891,206Determination of quorumVoting on proposals 6
Slide 7: Proposal #1 - Election of Directors
Proposal #1 - Election of Directors 7 Christina L. Keller Ronia F. Kruse Michael M. Magee, Jr. Matthew J. Missad
Slide 8: Proposal #2 - Ratification of Appointment of Independent Auditors
Proposal #2 - Ratification of Appointment of Independent Auditors Crowe LLP has served as IBC’s independent registered public accounting firm since 2005.Crowe LLP was founded in 1942 and is one of the 10 largest accounting and consulting firms in the U.S.IBC is served primarily by Crowe’s Grand Rapi
Slide 9: Proposal #3 - Advisory Vote on Executive Compensation
Proposal #3 - Advisory Vote on Executive Compensation The Board has solicited a non-binding advisory vote from our shareholders to approve the compensation of our executives as described in our proxy materials. 9
Slide 10: Proposal #4 – Approval of the 2021 Long-Term Incentive Plan
Proposal #4 – Approval of the Independent Bank Corporation 2021 Long-Term Incentive Plan The purpose of the plan is to promote the long term success of the Company for the benefit of shareholders by aligning the personal interest of participants with those of its shareholders.The Plan will replace t
Slide 11: Business Update - Brad Kessel, President & CEO
INDEPENDENT BANK CORPORTATION 2021 Annual Shareholders Meeting Business Update Brad Kessel, President & CEO
Slide 12: COVID-19 Response – To Communities, Customers, and Our Associates
COVID-19 Response – To Communities, Customers, and Our Associates 12 When it became apparent that the threat from the Coronavirus (COVID-19) could pose a threat to our people, our business, and our customers we activated our Business Continuity and Crisis Communication Core Teams to take early and d
Slide 13: 2020 ESG Highlights
2020 ESG Highlights Enhanced wellness program resulting in 250% increase in participation in 2020Bank wide training for Diversity, Equity and Inclusion in 20205th Annual Making a Difference Day with 794 team members participating in 88 volunteer projects in the communities we serve, including donati
Slide 14: Strong Performance & Returns
5 Strong Performance & Returns 14 ROA (%) ROE (%) Total Shareholder Return Excluding the impact of the $5.96 million remeasurement of net deferred tax assets in 2017, diluted EPS was $1.22; net income is $26.440 million, ROA is 1.00%; and ROE is 10.10%. (1) (1)
Slide 15: Track Record of Consistent Growth & Profitability
Track Record of Consistent Growth & Profitability 15 2020 net income and diluted EPS increased 20.9% and 26.5%, respectively, compared to 2019.2020 dividends increased 11.1% over 2019.Continued improvements in ROAA and ROAE.2020 mortgage loan originations topped $1.8 billion! Excluding the impact of
Slide 16: 2020 Full Year Financial Highlights
6 2020 Full Year Financial Highlights Income StatementNet income of $56.2 million or $2.53 per diluted share equaling a 20.9% and 26.5% increases in net income and diluted earnings per share (EPS), respectively, in 2020 compared to 2019. Net interest income of $123.6 million, up $1.0 million from 20
Slide 17: Strategic Initiatives
Strategic Initiatives 17 Serve consumers and businesses in our markets in an inclusive way with straight forward marketing and outreach efforts and fostering relationships and strong customer engagement.Improve net interest income via balanced loan growth, disciplined risk adjusted loan pricing and
Slide 18: Question and Answer Session
INDEPENDENT BANK CORPORTATION 2021 Annual Shareholders Meeting Question and Answer Session Brad Kessel, President & CEOGavin A. Mohr, Chief Financial Officer
Slide 19: 2021 Annual Shareholders Meeting Voting Results
Independent Bank Corporation2021 Annual Shareholders Meeting Voting ResultsShares entitled to vote: 21,891,206Proposal #1 – Election of DirectorsProposal #2 – Ratification of AuditorsProposal #3 – Advisory (Non-Binding) Vote on Executive CompensationProposal #4 – Vote upon the Independent Bank Corpo
Slide 20: Closing Remarks
Independent Bank Corporation2021 Annual Shareholders Meeting Closing RemarksThank you for attending!NASDAQ: IBCP 20