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INDEPENDENT BANK NEWS RELEASE For Release : Contact : Immediately William B. Kessel , President and CEO , 616.447.3933 Gavin A. Mohr , Chief Financial Officer , 616.447.3929 Exhibit 99.1 Independent Bank Corporation 4200 East Beltline Grand Rapids , MI 49525 616.527.5820 INDEPENDENT BANK CORPORATION REPORTS 2021 THIRD QUARTER RESULTS GRAND RAPIDS , Mich . , October 26 , 2021 - Independent Bank Corporation ( NASDAQ : IBCP ) reported third quarter 2021 net income of $ 16.0 million , or $ 0.73 per diluted share , versus net income of $ 19.6 million , or $ 0.89 per diluted share , in the prior - year period . For the nine months ended September 30 , 2021 , the Company reported net income of $ 50.4 million , or $ 2.30 per diluted share , compared to net income of $ 39.2 million , or $ 1.76 per diluted share , in the prior - year period . Highlights for the third quarter of 2021 include : Annualized return on average assets and on average equity of 1.40 % and 15.93 % , respectively ; An increase in net interest income of 5.7 % over the third quarter of 2020 ; Net gains on mortgage loans of $ 8.4 million and total mortgage loan origination volume of $ 453.8 million ; ⚫ Net growth in portfolio loans of $ 69.4 million ( or 9.8 % annualized ) ; ⚫ Continued strong asset quality metrics as evidenced by $ 1.5 million in net loan recoveries during the quarter as well as a low level of non - performing loans and non - performing assets ; and • The payment of a 21 cent per share dividend on common stock on August 16 , 2021 . Highlights for the first nine months of 2021 include : • Increases in net income and diluted earnings per share of 28.6 % and 30.7 % , respectively ; Annualized return on average assets and on average equity of 1.53 % and 17.32 % , respectively ; Net gains on mortgage loans of $ 30.3 million and total mortgage loan origination volume of $ 1.44 billion ; • Net growth in portfolio loans of $ 150.3 million ( or 7.4 % annualized ) ; and Net growth in deposits of $ 374.7 million ( or 13.8 % annualized ) . William B. ( " Brad " ) Kessel , the President and Chief Executive Officer of Independent Bank Corporation , commented : “ I continue to be very pleased with the high level of performance by our team generating strong core results for yet another quarter . We continue to execute on our strategies of investing in people and technology . During the third quarter we saw good growth in net interest income , stabilization of our net interest margin and across the board loan growth , net of PPP . Our commercial pipeline is at its highest level in many quarters . Fueling some of this growth was the opening of two new commercial loan production offices , one in Ottawa County and the second in Macomb County . Deposit gathering continues to be robust both via existing customers as well as through the addition of new customers . In addition , mortgage gains continue to be solid and our card strategies are generating good growth in interchange revenue . On the asset quality front , I could not be more pleased , with net recoveries for the quarter , commercial watch credits at 2.4 % of the portfolio , and a very low level of past due loans . Following our second quarter whole bank conversion , we are seeing good utilization and growth rates in our ONE Wallet and Treasury ONE platforms . While there are many uncertainties and challenges ahead , we are excited about the momentum we have in our markets and look forward to continuing these trends through the end of 2021 and into 2022. "