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INDEPENDENT BANK CORPORATION ACQUIRES AMERICAN HOME BANK AND CHANGES NAME TO INDEPENDENT BANK EAST MICHIGAN

 IONIA, Mich., Oct. 8 /PRNewswire/ -- Independent Bank Corporation (NASDAQ: IBCP), the Ionia-based bank holding company, has completed the acquisition of American Home Bank. Upon closing of the transaction, the bank's name was changed to Independent Bank East Michigan and its main office was officially moved from Unionville to Caro, Mich. The bank's former main office in Unionville will continue to operate as a branch office of Independent Bank East Michigan.
 As a result of the transaction, the holders of American Home Bank's 2,650 issued and outstanding common shares will receive a cash payment of $950 per share.
 In addition to Independent Bank East Michigan, Independent Bank Corporation has three other subsidiaries: Independent Bank, Ionia; Independent Bank West Michigan, Rockford; and Independent Bank South Michigan, Leslie. The four subsidiaries now operate 29 banking offices in 26 Michigan communities.
 The corporation has previously announced plans to acquire Pioneer Bank in North Branch, Mich., and The Kingston State Bank in Kingston, Mich. The purchase of Pioneer Bank should close later this month. The acquisition of The Kingston State Bank is expected to take place during the first quarter of 1994.
 Independent Bank Corporation common stock trades on the NASDAQ Stock Market under the symbol IBCP.
 -0- 10/8/93
 /CONTACT: Charles C. Van Loan of Independent Bank Corporation, 616-527-9450/
 (IBCP)


CO: Independent Bank Corporation; American Home Bank;
 Independent Bank East Michigan ST: Michigan IN: FIN SU: TNM


KR -- DE016 -- 0245 10/08/93 14:51 EDT
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Publication:PR Newswire
Date:Oct 8, 1993
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