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Independent Bank Corporation Buyback

OLI recorded this information on 12/19/2023

Company: Independent Bank Corporation
Buyback: IBCP buyback
Share Amount Authorized: 1,100,000
Buyback Details: Independent Bank Corporation (NASDAQ: IBCP), the holding company of Independent Bank, a Michigan-based community bank, announced that its Board of Directors authorized a 2024 share repurchase plan on December 19, 2023. Under the terms of the 2024 share repurchase plan, the Company is authorized to buy back up to 1,100,000 shares, representing approximately 5% of its common stock. The 2024 share repurchase plan is authorized to last through December 31, 2024.

Independent Bank is a bank holding company. Through its subsidiary, Independent Bank (the bank), Co. transacts business in the single industry of commercial banking. Co. provides banking services to individuals and businesses, including checking and savings accounts, commercial lending, direct and indirect consumer financing, mortgage lending, and safe deposit box services. Co.'s bank does not provide trust services. Co.'s principal markets are the rural and suburban communities across Lower Michigan. Majority of Co.'s bank's branches provide lobby and drive-thru services, as well as automatic teller machines. Co. also provides internet and mobile banking capabilities to its customers.

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Company Name:  Independent Bank Corporation (Ionia, MI)
Stock buyback:  IBCP buyback
Website:  www.independentbank.com
Sector:  Banking & Savings
Number of ETFs Holding IBCP:  24
Total Market Value Held by ETFs:  $52.67M
Total Market Capitalization:  $511.00M
% of Market Cap. Held by ETFs:  10.31%
 

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March 28, 2024    9:24 AM Eastern
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