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Independent Bank Says HCB Financial Shareholders Approve Merger

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Independent Bank (IBCP) said Thursday its proposed merger with HCB Financial has been approved by HCB Financial shareholders.

The companies announced on March 18 that they had signed a definitive merger agreement under which Independent Bank will acquire HCB Financial. The proposed transaction has also received approvals from the Federal Reserve Bank of Chicago and the Michigan Department of Insurance and Financial Services, according to a statement.

The merger is expected to become effective on July 1, Independent Bank said.

Price: $34.36, Change: $+0.09, Percent Change: +0.26%

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