SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 13, 1996
INDEPENDENT BANK CORPORATION
(Exact Name of Registrant as Specified in its Charter)
MICHIGAN
(State or Other Jurisdiction of Incorporation)
0-7818 38-2032782
(Commission File Number) (I.R.S. Employer Identification No.)
230 West Main Street, Ionia, Michigan 48846
(Address of Principal Executive Offices) (Zip Code)
(616) 527-9450
(Registrant's Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
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Item 2. Other Events
Effective the close of business on December 13, 1996 (the "Effective
Time"), Independent Bank East Michigan ("IBEM"), a subsidiary of the Company,
acquired eight branch banking facilities from First of America Bank-Michigan,
National Association ("FOA Branches"). The FOA Branches are located in the thumb
region of eastern Michigan, in the counties of Huron and Tuscola. Two of the FOA
Branches are located in the City of Bad Axe and one each in the townships or
communities of Caseville, Elkton, Kinde, Ubly, Sebewaing, and Gagetown. At the
Effective Time, the FOA Branches had approximately $122 million of deposits and
$22 million of loans. The real and personal property of the FOA Branches were
acquired at net book value, and IBEM paid a loan premium of 1% on the loans
acquired and a deposit premium of 6.875% on the deposits assumed. The purchase
of the FOA Branches is not considered an acquisition of a business.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.
INDEPENDENT BANK CORPORATION
Date: December 24, 1996 /s/ William R. Kohls
William R. Kohls,
Executive Vice President and
Chief Financial Officer
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