Independent Bank Corporation · NASDAQ:IBCP
Independent Bank — Shareholder Meeting (April 2016)
20 slides from Independent Bank's shareholder meeting presentation, Apr 26, 2016
Slide 1: Independent Bank Corporation 2016 Annual Shareholders Meeting
INDEPENDENT BANK CORPORATION2016 Annual Shareholders meeting April 26, 2016
Slide 2: Cautionary note regarding forward-looking statements
Cautionary note regarding forward-looking statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements of goals, intentions, and expectations as to future trends, plans, events, or results of Indepen
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 2016 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 William J. Boer Joan A. Budden Stephen L. Gulis Jr. Terry L. HaskeWilliam B. KesselMichael M. Magee Jr., ChairmanJames E. McCarty, Lead Outside DirectorMatthew J. MissadCharles C. Van Loan William B. Kessel – President and Chief Executive OfficerRobert N
Slide 5: 2016 Annual Meeting of Shareholders
2016 Annual Meeting of Shareholders Secretary for the meeting (Robert Shuster)Record date: February 26, 2016Approximate distribution date of Proxy Statement: March 11, 2016Shares entitled to vote: 21,598,586Determination of quorumVoting on proposals 5
Slide 6: Proposal #1 Election of Directors
Proposal #1Election of Directors 6 William J. Boer Joan A. Budden Charles C. Van Loan
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 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. 8
Slide 9: Business Update by Brad Kessel, President & CEO
INDEPENDENT BANK CORPORATIONBusiness Update by Brad Kessel, President & CEO 9
Slide 10: 2015 Financial Summary
2015 Financial Summary 2015 2014 2013 Diluted EPS $ 0.86 $ 0.77 $ 3.55 Income before income taxes 29,380 25,216 22,658 Net income 20,017 18,021 77,509 NI available to common 20,017 18,021 82,062 Total assets 2,409,066 2,248,730 2,209,943 Total loans 1,515,050 1,409,962 1,374,570 Total deposits 2,085
Slide 11: 2015 Financial Highlights
2015 Financial Highlights Income Statement Net income of $20.0 million, or $0.86 per diluted share, representing increases over 2014 of 11.1% and 11.7%, respectively.Improved asset quality metrics led to $2.7 million credit loan loss provision. Loan net charge-offs declined by 77.9% year-over year,
Slide 12: Completed Initiatives in 2015
Completed Initiatives in 2015 New products, services and technologyRefreshed and simplified checking account line-upConsumer payment offering (Apple Pay)Mortgage loan origination platform (EllieMae Encompass)Human Resources management platform (UltiPro)Equity-linked certificate of deposit (Altitude
Slide 13: IBC, Community Banking, and the Michigan Market
IBC, Community Banking, and the Michigan Market Ranked 15th in deposit market share within the State of Michigan with 1.04% in 2015 (1.09% in 2014);Ranked 5th largest bank headquartered in the State of Michigan;63 locations in 21 counties, we hold the number one or two community bank market share po
Slide 14: 1Q'16 Financial Summary
1Q’16 Financial Summary 1Q’16 4Q’15 3Q’15 2Q’15 1Q’15 Diluted EPS $ 0.19 $ 0.25 $ 0.22 $ 0.24 $ 0.16 Income before taxes 6,057 8,251 7,325 8,243 5,561 Net income 4,100 5,570 5,047 5,619 3,781 Return on average assets 0.68% 0.93% 0.86% 0.98% 0.67% Return on average equity 6.70% 8.80% 7.84% 8.86% 6.05
Slide 15: 1Q'16 Financial Highlights
1Q’16 Financial Highlights 15
Slide 16: Operating Plan
Operating Plan Balance SheetGenerate quality loan growth with continued focus on commercial and consumer installment lending as well as salable mortgage loans. May consider augmenting loan growth with selective in-market whole loan purchases.Remain asset sensitive and positioned to benefit from high
Slide 17: Recognition of Retired Directors
Recognition of Retired Directors 17 Robert L. Hetzler Charles A. Palmer
Slide 18: Question and Answer Session
Independent Bank Corporation2016 Annual Shareholders Meeting Question and Answer SessionBrad Kessel, President & CEORob Shuster, Chief Financial Officer 18
Slide 19: 2016 Annual Shareholders Meeting Voting Results
Independent Bank Corporation2016 Annual Shareholders Meeting Voting ResultsShares entitled to vote: 21,598,586Proposal #1 – Election of DirectorsProposal #2 – Ratification of AuditorsProposal #3 – Advisory (Non-Binding) Vote on Executive Compensation 19
Slide 20: Closing Remarks
Independent Bank Corporation2016 Annual Shareholders Meeting Closing RemarksThank you for attending!NASDAQ: IBCP 20