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INDEPENDENT BANK CORPORATION INCREASES DIVIDEND BY 13 PERCENT

 INDEPENDENT BANK CORPORATION INCREASES DIVIDEND BY 13 PERCENT
 IONIA, Mich., March 17 /PRNewswire/ -- The board of directors of Independent Bank Corporation (NASDAQ-NMS: IBCP), the Ionia-based bank holding company, has increased the regular quarterly cash dividend on the corporation's common stock to $.13 per share. The first dividend at the higher rate will be payable on April 30, 1992, to shareholders of record at the close of business on April 6, 1992. This will be the 68th consecutive cash dividend paid by the corporation which commenced operations in 1974.
 Loren C. Adgate, the corporation's president and chief executive officer, announced the board's action and commented, "Our performance was outstanding in 1991. We consider it very important to ensure that our shareholders receive tangible benefits from our progress. With that in mind, our directors have increased our regular quarterly dividend by 13 percent from $.11 1/2 per share to $.13 per share and I am very pleased to announce their decision."
 Independent Bank Corporation, with total assets of more than $371 million, has three affiliate banks: Independent Bank, Ionia; Independent Bank West Michigan, Rockford; and Independent Bank South Michigan, Leslie. The three banks operate 26 offices serving 23 communities in western and central Michigan.
 The corporation's common stock is traded in the over-the-counter market and quoted on the NASDAQ National Market System under the symbol IBCP.
 -0- 3/17/92
 /CONTACT: Loren C. Adgate of Independent Bank, 616-527-9450/
 (IBCP) CO: Independent Bank Corporation ST: Michigan IN: FIN SU: DIV


SM -- DE010 -- 8853 03/17/92 15:07 EST
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Publication:PR Newswire
Date:Mar 17, 1992
Words:257
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