Independent Bank Corporation · NASDAQ:IBCP
Independent Bank — Shareholder Meeting (April 2018)
19 slides from Independent Bank's shareholder meeting presentation, Apr 24, 2018
Slide 1: 2018 Annual Shareholders Meeting
INDEPENDENT BANK CORPORATION2018 Annual Shareholders meeting April 24, 2018
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements This presentation may contain “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements that are not historical facts, including statements about our expectations, beliefs, plans,
Slide 3: Today's Agenda
Today’s Agenda Welcome and Call to Order – IBC ChairmanVirtual Annual Shareholder Meeting Process and Instructions – IBC ChairmanVoting upon matters listed in the Company’s 2018 Proxy Statement – IBC ChairmanBusiness Update by IBC President & CEOQuestion and answer session – IBC President & CEO and
Slide 4: IBC Board of Directors and Executive Officers
IBC Board of Directors IBC Executive Officers Terrance L. BeiaWilliam J. Boer Joan A. BuddenMichael J. Cok Stephen L. Gulis Jr. Terry L. HaskeChristina L. KellerWilliam B. KesselMichael M. Magee Jr., ChairmanMatthew J. MissadCharles C. Van Loan William B. Kessel – President and Chief Executive Offic
Slide 5: 2018 Annual Meeting of Shareholders
2018 Annual Meeting of Shareholders Secretary for the meeting (Robert Shuster)Record date: February 23, 2018Approximate distribution date of Proxy Statement: March 9, 2018Shares entitled to vote: 21,499,087Determination of quorumVoting on proposals 5
Slide 6: Proposal #1 Election of Directors
Proposal #1Election of Directors 6 Christina L. Keller Michael M. Magee, Jr. Matthew J. Missad
Slide 7: Proposal #2 Ratification of Appointment of Independent Auditors
Proposal #2Ratification of Appointment of Independent Auditors Crowe Horwath LLP has served as IBC’s independent registered public accounting firm since 2005Crowe Horwath 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 Horw
Slide 8: Proposal #3 Advisory Vote on Executive Compensation
Proposal #3Advisory Vote on Executive Compensation 8 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.
Slide 9: Business Update by Brad Kessel, President & CEO
INDEPENDENT BANK CORPORATIONBusiness Update by Brad Kessel, President & CEO 9
Slide 10: 2017 Financial Summary
2017 Financial Summary 2017 2016 2015 Diluted EPS (1) $ 0.95 $ 1.05 $ 0.86 Cash dividends paid 0.42 0.34 0.26 Income before income taxes 38,438 32,901 29,380 Net income (1) 20,475 22,766 20,017 Total assets 2,789,355 2,548,950 2,409,066 Total loans 2,018,817 1,608,248 1,515,050 Total deposits 2,400,
Slide 11: 2017 Full Year Financial Highlights
6 2017 Full Year Financial Highlights Income StatementPre-tax income of $38.4 million, up $5.5 million, or 16.8%, from 2016.Net interest income of $89.2 million, up $9.5 million, or 12.0%, from 2016.$1.2 million loan loss provision expense in 2017 versus $1.3 million credit in 2016.Recorded net reco
Slide 12: Other Highlights and Initiatives
Other Highlights and Initiatives Continuous focus on customer serviceRegular customer surveys across all business lines.Introduced the use of the Net Promoter Score.Emphasis on community serviceConducted second annual “Making a Difference Day” on October 9, 2017.“Investing in Communities” campaign.F
Slide 13: 1Q'18 Financial Summary
4 1Q’18 Financial Summary 1Q’18 4Q’17 3Q’17 2Q’17 1Q’17 Diluted EPS (1) $ 0.42 $ 0.08 $ 0.32 $ 0.27 $ 0.28 Income before taxes $ 11,199 $ 11,231 $ 10,018 $ 8,594 $ 8,595 Net income (1) $ 9,161 $ 1,711 $ 6,859 $ 5,931 $ 5,974 Return on average assets (1) 1.34% 0.25% 1.01% 0.92% 0.95% Return on averag
Slide 14: 1Q'18 Financial Highlights
5 1Q’18 Financial Highlights Income StatementNet income of $9.2 million, or $0.42 per diluted share, representing increases of 53.3% and 50.0%, respectively over 1Q’17. Net interest income of $23.9 million, up $2.5 million, or 11.5%, from the year ago quarter.$0.3 million loan loss provision expense
Slide 15: TCSB Bancorp/Traverse City State Bank Merger
5 TCSB Bancorp, Inc./Traverse City State Bank Merger Merger was effective on April 1, 2018TCSB was opened in 2000 and operates five branches in the Traverse City area.As of March 31, 2018, TCSB had total assets of $343.8 million, total loans of $301.8 million, total deposits of $288.1 million and sh
Slide 16: Operating Plan
Operating Plan Balance SheetGenerate quality loan growth with continued focus on commercial, residential mortgage and consumer installment lending.Remain slightly asset sensitive and positioned to benefit from higher interest rates (short duration investment portfolio, large variable rate loan portf
Slide 17: Question and Answer Session
Independent Bank Corporation2018 Annual Shareholders Meeting Question and Answer SessionBrad Kessel, President & CEORob Shuster, Chief Financial Officer 17
Slide 18: 2018 Annual Shareholders Meeting Voting Results
Independent Bank Corporation2018 Annual Shareholders Meeting Voting ResultsShares entitled to vote: 21,499,087Proposal #1 – Election of DirectorsProposal #2 – Ratification of AuditorsProposal #3 – Advisory (Non-Binding) Vote on Executive Compensation 18
Slide 19: Closing Remarks
Independent Bank Corporation2018 Annual Shareholders Meeting Closing RemarksThank you for attending!NASDAQ: IBCP 19