independent bank corp michigan said wednesday that its board of directors authorized a share buyback program for 2023 the lender said it can repurchase up to 11 million shares representing about 5 of its outstanding common stock the buyback program can take place until the end of the year the company said in its 2022 program the company bought 181586 common shares at an average price of 2208 each at 1526 et the banks shares were up 08 at 8429