Independent Bank Corporation · NASDAQ:IBCP
Independent Bank — Shareholder Meeting (April 2022)
20 slides from Independent Bank's shareholder meeting presentation, Apr 19, 2022
Slide 1: Independent Bank Corporation 2022 Annual Shareholders Meeting
Independent Bank Corporation 2022 Annual Shareholders Meeting April 19, 2022
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 Chairman Voting upon matters listed in the Company’s 2022 Proxy Statement – IBC Chairman Business Update - IBC President & CEO Question and answer session – IBC President & CEO and IBC EVP & CFO Adjournment 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 2012 Joined the Company in April 2007 as EVP – Commercial Previous experience with Comerica for 25 years CEO of IBC and Independent Bank since 2013 Joined Independent Bank in 1994 Began career with Crowe Joined Independent Bank in 2020
Slide 6: 2022 Annual Meeting of Shareholders
2022 Annual Meeting of Shareholders Secretary for the meeting (Gavin A. Mohr) Record date: February 18, 2022 Approximate distribution date of Proxy Statement: March 7, 2022 Shares entitled to vote: 21,331,224 Determination of quorum Voting on proposals 6
Slide 7: Proposal #1 - Election of Directors
Proposal #1 - Election of Directors – Nominees for a three year term expiring 2025 7 Dennis W. Archer Jr. William J. Boer Joan A. Budden Michael J. Cok
Slide 8: Proposal #2 - Ratification of the Appointment of Independent Auditors
Proposal #2 - Ratification of the 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 Gran
Slide 9: Proposal #3 - Advisory Vote on Executive Compensation
Proposal #3 - Advisory (Non-Binding) 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: Business Update
INDEPENDENT BANK CORPORATION2022 Annual Shareholders Meeting Business Update Brad Kessel, President & CEO
Slide 11: 2021 Full Year Financial Highlights
2021 Full Year Financial Highlights Income Statement Increases in net income and diluted earnings per share of 12.0% and 13.8%, respectively, for the full year of 2021 compared to 2020. Annualized return on average assets and on average equity of 1.41% and 16.13%, respectively, for the full year of
Slide 12: Track Record of Consistent Growth & Profitability
Track Record of Consistent Growth & Profitability 12 2021 net income and diluted EPS increased 12.0% and 13.8%, respectively, compared to 2020. 2021 dividends increased 5.0% over 2020. Annualized return on average assets and on average equity of 1.41% and 16.13%, respectively, for the full year of 2
Slide 13: Strong Performance & Returns
Strong Performance & Returns 13 ROA (%) ROE (%) Total Shareholder Return ()
Slide 14: Making Banking Easier
Making Banking Easier 14 During 2021 we completed the initial phase of our investment in a new core data processing system. The benefits of this multi-million dollar investment include a modern core platform with flexible application processing interfaces (APIs) that deliver faster integration with
Slide 15: 2021 ESG Highlights
2021 ESG Highlights $1,000,000 pledge to spur neighborhood stability in low income communities. Assisted 166 borrowers in low income neighborhoods with over $450,000 in costs being waived or covered by Independent Bank. Published our first ESG report on our website, www.IndependentBank.com Our ESG r
Slide 16: Investing in Our Commercial Banking Team
Investing in Our Commercial Banking Team Grew the commercial banking sales team from 30 professionals to over 40. These professionals generally came from larger in-market competitors currently experiencing some level of disruption. The Independent Bank Appeal: Being customer centric vs. bank centric
Slide 17: Strategic Initiatives
Strategic Initiatives 17 Growth Process Improvement & Cost Controls Talent Management Risk Management Serve consumers and businesses in our Markets in an inclusive way to include straight forward marketing, improved brand awareness and enhanced outreach efforts that foster strong customer relationsh
Slide 18: Question and Answer Session
INDEPENDENT BANK CORPORATION2022 Annual Shareholders Meeting Question and Answer Session Brad Kessel, President & CEO Gavin A. Mohr, Chief Financial Officer
Slide 19: Voting Results
Independent Bank Corporation2022 Annual Shareholders Meeting Voting Results Shares entitled to vote: 21,331,224 Proposal #1 – Election of Directors Proposal #2 – Ratification of Auditors Proposal #3 – Advisory (Non-Binding) Vote on Executive Compensation 19
Slide 20: Closing Remarks
Independent Bank Corporation 202 Closing Remarks Thank you for attending! NASDAQ: IBCP 2 Annual Shareholders Meeting