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Pending Acquisition
 3 Months Ended
Mar. 31, 2026
Business Combination [Abstract]  
Pending Acquisition Pending Acquisition
On March 18, 2026, we entered into a definitive merger agreement with HCB Financial Corp. ("HCB") (the "Merger Agreement") providing for a business combination of Independent Bank Corporation ("IBCP") and HCB. The Merger Agreement provides that, upon the terms and subject to the conditions set forth in the Merger Agreement, HCB will be merged with and into IBCP, with IBCP as the surviving corporation (the "Merger"). In addition, IBCP intends to consolidate Highpoint Community Bank, HCB's wholly-owned subsidiary bank, with and into the Independent Bank (with Independent Bank as the surviving institution).
Subject to the terms and conditions of the Merger Agreement, we will pay aggregate Merger consideration of approximately $70.2 million in IBCP common stock and cash for all of the shares of HCB common stock issued and outstanding immediately before the effective time of the Merger. The Merger consideration is subject to adjustment in certain limited circumstances, as set forth in the Merger Agreement.
Completion of the Merger is subject to certain closing conditions, including (among others) receipt of the requisite approval of HCB's shareholders, receipt of required regulatory approvals, and the absence of any law or order prohibiting completion of the Merger. The Merger Agreement provides certain termination rights for both IBCP and HCB and further provides that, upon termination of the Merger Agreement under certain limited circumstances, HCB will be obligated to pay IBCP a termination fee of approximately $3.25 million.
A meeting of the HCB shareholders will be scheduled to consider and vote upon a proposal to approve the Merger Agreement between IBCP and HCB. Assuming requisite HCB shareholder approval, receipt of all required regulatory approvals and satisfaction of other closing conditions, the merger of IBCP and HCB is currently expected to be effective during the third quarter of 2026.
Our 2026 non-interest expenses include $0.3 million of costs incurred through March 31, 2026 related to the Merger. As of March 31, 2026, HCB had total assets of $597.2 million, total loans of $369.9 million, total deposits of $545.8 million, and total shareholders' equity of $47.5 million.