Independent Bank Taps Highpoint Director for Board in Post-Merger Move

GRAND RAPIDS, MI – July 22, 2026 – In a move that underscores a focus on seamless integration and fortified governance, Independent Bank Corporation (NASDAQ: IBCP) today announced the appointment of Nathan E. Tagg to its Boards of Directors. Effective July 21, Tagg will join the boards of the holding company, its subsidiary Independent Bank, and the recently acquired Highpoint Community Bank. He has also been appointed to the crucial Audit Committee of the Independent Bank Corporation Board.

The appointment comes just three weeks after the Grand Rapids-based holding company completed its acquisition of HCB Financial Corp., the parent of Highpoint Community Bank, on July 1. Tagg, who previously served on the boards of the acquired entities, represents a critical thread of continuity, bringing institutional knowledge from Highpoint into the boardroom of the newly combined, $6.3 billion financial institution.

A Strategic Play for Post-Acquisition Stability

Independent Bank Corporation's acquisition of HCB Financial Corp. was a calculated strategic maneuver valued at approximately $70.2 million. The deal, which received unanimous board approvals and the green light from regulators and HCB shareholders, was designed to bolster Independent's footprint in Michigan's Lower Peninsula. The addition of Highpoint's seven branches bridges a key geographic gap between Independent's established hubs in Grand Rapids and Lansing, strengthening its presence in a vital economic corridor.

Beyond simple expansion, the acquisition was financially motivated. Highpoint brought a high-quality, low-cost deposit base, providing the combined entity with significant liquidity to fuel future lending and growth. For Highpoint's customers, the merger promised access to a wider array of financial products and a higher institutional lending limit. The transaction is projected to be approximately 6% accretive to Independent’s earnings per share by 2027, assuming the full realization of cost synergies.

Tagg's appointment was a planned component of this integration. The definitive merger agreement stipulated that one director from HCB's board would join the Independent Bank Corporation and Independent Bank boards upon the deal's closing. Selecting Tagg, with his direct experience governing Highpoint, signals a commitment to a smooth and well-informed transition, mitigating the integration risks that can often plague regional bank mergers. His presence ensures that the perspective of the acquired bank, its customers, and its communities has a voice at the highest level of corporate decision-making.

“We are pleased to welcome Nathan to the Boards of Independent Bank Corporation, Independent Bank, and Highpoint Community Bank,” commented William B. ("Brad") Kessel, President and Chief Executive Officer of Independent Bank Corporation. “His experience, legal expertise, and strong governance background will strengthen our Board as we continue integrating our organizations.”

A Leader with Deep Michigan Roots

Beyond his role with Highpoint, Nathan Tagg brings a deep well of legal, governance, and community leadership experience to the board. An attorney and partner at the firm Tripp, Tagg & Storrs since 2009, he has built a career advising businesses and organizations across Michigan. He earned his Juris Doctor from Howard University School of Law, where he was a Lumbard Fellow, and is licensed to practice in both Michigan and California.

His track record in governance is particularly noteworthy. Tagg has served as Chair of the Spectrum Health Pennock Board of Directors and was Co-Chair of its Merger Committee, giving him firsthand experience in navigating the complexities of organizational consolidation in a highly regulated sector. His leadership also includes service on the Barry Community Foundation's Investment and Governance Committees and a long-standing role as Treasurer of the Barry County Bar Association since 2008. In 2011, former Michigan Governor Rick Snyder appointed him to the State of Michigan Board of Auctioneers, a testament to his respected position in the state’s professional community.

This extensive involvement in local healthcare, philanthropy, and legal circles reinforces the community banking ethos that both Independent Bank and Highpoint have long championed. For a bank that traces its roots back to 1864, embedding leaders with strong local ties is a core part of its strategic DNA. Tagg’s deep connections in Barry County, a key market for the former Highpoint Bank, provide an invaluable link to local stakeholders during a period of transition.

Fortifying Governance and Financial Oversight

Tagg’s immediate appointment to the Audit Committee is perhaps the most significant aspect of his new role. For a publicly-traded financial institution, the Audit Committee is the bedrock of corporate governance, responsible for overseeing financial reporting, internal controls, and the relationship with independent auditors. Placing an experienced attorney with a proven governance background on this committee is a clear signal to investors and regulators of the bank's commitment to robust oversight.

His legal expertise will be instrumental in navigating the complex web of compliance and risk management inherent in modern banking, particularly following a major acquisition. As the two organizations merge their systems and operations—a process slated for full completion on November 9, 2026—rigorous oversight is paramount to ensuring a seamless and secure transition. Kessel specifically highlighted this, stating, “We look forward to his leadership on our Audit Committee and his contributions to creating long-term value for our shareholders.”

In his own statement, Tagg acknowledged the weight of this responsibility. "I am honored to join the Boards of Directors of Independent Bank Corporation and Independent Bank," he said. "Having served on the Highpoint Community Bank Board, I have seen firsthand the shared values, customer focus, and commitment to community banking that brought these two organizations together. I appreciate the opportunity to continue serving our customers, employees, communities, and shareholders as part of the combined organization and look forward to working with the Board and management team to build on the Company's strong foundation and long-term success."