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                                                                  Exhibit 23 (e)



                          CONSENT OF FINANCIAL ADVISOR


     We hereby consent to the inclusion of the Opinion of McConnell, Budd &
Downes, Inc. in Appendix D to the Registration Statement on Form S-4 of the
Joint Proxy Statement of Independent Bank Corporation ("IBC") and Mutual
Savings Banks, f.s.b. ("MSB") to be filed with the Securities and Exchange
Commission in connection with the proposed Consolidation of IBC and MSB and to
the references to the work completed by our firm as financial advisor to MSB,
therein.  In giving such consent, we do not thereby admit that we come within
the category of persons whose consent is required under Section 7 of the
Securities Act of 1933 or the rules and regulations of the Securities and
Exchange Commission thereunder, nor do we thereby admit that we are experts
with respect to any part of such Registration Statement within the meaning of
the term "expert" as used in the Securities Act of 1933 as amended, or the
rules and regulations of the Securities and Exchange Commission thereunder.

/s/ McConnell, Budd & Downes, Inc.