Independent Bank (NASDAQ: IBCP) of Grand Rapids, Michigan was founded in 1864 as First National Bank of Ionia with an original capital of US$50,000. Through the years, the bank opened and acquired new offices across the state of Michigan, primarily in Central and West Michigan. In 1974, Independent Bank Corporation was formed as the bank holding company and the offices were renamed to reflect this change.
Independent Bank Corporation, with total assets of US$2.3 billion, now operates more than 60 offices across Michigan, provides a full range of financial services including commercial accounts, treasury management, online and mobile banking, commercial and mortgage lending, investments and title services.
In March 2007, Independent Bank purchased ten TCF Bank branches in the Battle Creek, Bay City, and Saginaw, Michigan areas.
In December 2012, Independent bank sold 21 branches located mainly in Northern Michigan to competitor Chemical Bank based in Midland.