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IBCP > SEC Filings for IBCP > Form 8-K on 11-Oct-2013All Recent SEC Filings

Show all filings for INDEPENDENT BANK CORP /MI/

Form 8-K for INDEPENDENT BANK CORP /MI/


11-Oct-2013

Other Events


Item 8.01 Other Events

On October 11, 2013 (the "Redemption Date"), Independent Bank Corporation (the "Company") redeemed its outstanding 8.25% Junior Subordinated Debenture due March 31, 2033 (the "Junior Debenture"), at a redemption price of $9,476,027.42, consisting of $9,452,200.00 in aggregate principal amount and $23,827.42 in interest accrued to the Redemption Date (the "Redemption Price"), and the Company's trust subsidiary, IBC Capital Finance II (the "Trust"), used the Redemption Price to redeem all of its securities, including the outstanding common securities held by the Company (the "Common Securities") and the outstanding 8.25% trust preferred securities (NASDAQ: IBCPO) (the "Preferred Securities"). Beginning on the Redemption Date, none of the Junior Debenture, the Common Securities or the Preferred Securities will be considered outstanding and distributions will no longer accrue on such securities. The Company will terminate the Trust in accordance with its terms as soon as practicable after the Redemption Date.


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