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A Message From our CEO

 

 

ESG_Brad_Tile_0722  It is my honor and pleasure to share with you Independent Bank Corporation’s Environmental, Social and Governance (ESG) report.

 

As we enter our 158th year, I am pleased to provide an update regarding Independent Bank’s results as we continue to adjust, adapt and advance our mission of working together to make a positive difference in the lives of our customers, associates, shareholders, partners and community. Our vision is to guide, serve and empower people to improve lives and the world in which we live. Our Bank associates and their families continue to be resilient in this effort as we work our way through the pandemic. Yet it has not been without pain, suffering and loss of life within our corporate family, as we mirror the communities we live in.

 

During 2021, we assisted over 6,923 customers in either acquiring their dream home or refinancing their existing home and improving their financial position. In this effort we originated an IBC record of $1.9 billion in mortgage loans in our communities. Our plans to return to work for some were put on hold and our service delivery channels (particularly our branch network) continued to be impacted with staff quarantines. Yet in 2021 we assisted our customers with 24,015 new deposit accounts and 8,212 consumer loans to: renovate or improve their homes, acquire or refinance their recreational or marine vehicles as well as automobiles and assist families with educational tuition or other financing needs.

 

In addition, we helped business owners access the Small Business Administration’s Payroll Protection Program (PPP) through round two funding requests and rounds one and two forgiveness applications. Combined we processed over 4,000 loans or $397 million PPP loan requests for this governmental program to aid businesses in keeping their payrolls intact. Our commercial bankers also provided working capital lines, equipment financing and commercial real estate commitments of $487 million. Despite accessibility limitations related to COVID-19, our associates supported our communities with over 8,000 volunteer hours including holding our 6th annual Making A Difference Day where 65 different non-profits or community organizations were touched with our team’s talent and dollars.

 

At midyear of 2021, we released our first ESG report. While this was our first report, the principles behind ESG are not new and are fundamental to our community banking strategy. As a community bank, natural parts of our culture and keys to our success include being:

  • Good corporate citizens who care about our environment and enable others to do the same
  • Great place to work and bank
  • Excellent neighbors and supporters of our communities
  • Strong corporate stewards with good governance, enabling effective operations in a heavily regulated industry

We are proud to publish our second report in a section on our website, IndependentBank.com to communicate more broadly the numerous efforts made by our Company to provide sustainable long-term value to our stakeholders. This report contains highlights of key initiatives and/or progress we have made as it pertains to protecting our environment, social equality and sound governance. What you won’t find is lofty goals and promises of something we hope to do some day. Instead we highlight the many good things that we do in these areas today and our opportunities for improvement going forward."

 

Sincerely,

 

 

Brad_Sig

President & CEO 

 


The information contained in this report shall not be deemed to be filed or furnished or otherwise incorporated by reference in future filings with the Securities and Exchange Commission under the Securities Act of 1933 or the Securities Exchange Act of 1934.