IONIA, Mich., Dec. 22 /PRNewswire-FirstCall/ -- Independent Bank Corporation (Nasdaq: IBCP), a leading Michigan-based community bank, today announced that its subsidiary, Independent Bank, can now offer the Certificate of Deposit Account Registry Service(R) also known as CDARS(R) to customers including Michigan municipalities, school districts and other public funds units.

Michigan Governor Jennifer M. Granholm recently signed Public Acts 307 and 308 to confirm the use of services like CDARS to insure public funds deposited in Michigan banks. Prior to the legislation, some public entities found it necessary to maintain relationships with several different financial institutions in order to ensure proper FDIC insurance coverage for their deposit balances. Independent Bank can now offer public funds customers access to up to $50 million of FDIC insurance with the convenience of one rate, one statement and one bank relationship. CDARS(R) is also available to consumers, businesses, and non-profit organizations.

Maxine Kauffold, Independent Bank's Vice President of Treasury Management commented, "We are pleased to announce the availability of the CDARS service to our public funds clients. This service provides access to the safety and security of FDIC insurance up to $50 million, and the funds remain in Michigan to support our local communities. Since 1864, Independent Bank has been lending to the businesses and people of Michigan as well as supporting our communities through donations to charitable and civic organizations of both cash and associate volunteer hours. We are very proud of our deep Michigan roots and the fact that we employ nearly 1,300 people in this great state."

To provide more information on the CDARS service, Independent Bank's Treasury Management team is offering seminars as well as one-on-one meetings. For more information or to sign up for CDARS, contact Maxine Kauffold at 989.891.4130 or Bill Anderson at 989.430.7761.

About Independent Bank Corporation

Independent Bank Corporation (NASDAQ: IBCP) is a Michigan-based bank holding company with total assets of over $3 billion. Founded as First National Bank of Ionia in 1864, Independent Bank Corporation now operates over 100 offices across Michigan's Lower Peninsula through one state-chartered bank subsidiary. This subsidiary (Independent Bank) provides a full range of financial services, including commercial banking, mortgage lending, investments and title services. Payment plans to purchase vehicle service contracts are also available through Mepco Finance Corporation, a wholly owned subsidiary of Independent Bank. Independent Bank Corporation is committed to providing exceptional personal service and value to its customers, stockholders and the communities it serves. For more information, please visit our website at: www.ibcp.com.

CDARS and Certificate of Deposit Account Registry Service are registered service marks of Promontory Interfinancial Network, LLC.

SOURCE Independent Bank Corporation