Independent Bank Corporation (NasdaqGS:IBCP) announces a share repurchase program. Under the program, the company will repurchase up to 5% of its outstanding common stock. The company intends and expects to accomplish the repurchases through open market transactions, though the company could effect repurchases through other means, such as privately negotiated transactions.

The company expects to fund any repurchases from cash on hand. The timing and amount of any share repurchases will depend on a variety of factors, including, among others, securities law restrictions, the trading price of the company's common stock, other regulatory requirements, potential alternative uses for capital, and the company's financial performance. The repurchase program does not obligate the company to acquire any particular amount of common stock, and it may be modified or suspended at any time at the company's discretion.

The program is valid up to December 31, 2016.