Company: ISBA
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000842517-25-000135
Chunk: 57

Company: ISABELLA BANK CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 57
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urchase without stated maturity dates$43,208 $40,802 3.14 %$44,194 $40,593 3.18 %Federal funds purchased— — 0.00 %— — 0.00 %FRB Discount Window— 859 4.50 %— 15 5.52 %Six Months Ended June 3020252024Maximum Month End BalanceAverage BalanceWeighted Average Interest Rate During the PeriodMaximum Month End BalanceAverage BalanceWeighted Average Interest Rate During the PeriodSecurities sold under agreements to repurchase without stated maturity dates$47,310 $42,150 3.18 %$44,194 $40,607 3.16 %Federal funds purchased— 11 5.43 %— 1 6.52 %FRB Discount Window— 446 4.50 %— 8 5.52 %Securities sold under agreements to repurchase are classified as secured borrowings and are reflected at the amount of cash received in connection with the transaction. The securities underlying the agreements have a carrying value and a fair value of $58,119 and $67,539 at June 30, 2025 and December 31, 2024, respectively. Such securities remain under our control. We may be required to provide additional collateral based on the fair value of underlying securities.Securities sold under repurchase agreements without stated maturity dates were as follows as of:June 30, 2025December 31, 2024AmountRateAmountRateSecurities sold under agreements to repurchase without stated maturity dates$43,208 3.10 %$53,567 3.18 %We had pledged AFS securities and 1-4 family residential real estate loans in the following amounts at:June 302025December 312024Pledged to secure borrowed funds$405,027 $395,286 Pledged to secure repurchase agreements58,119 67,539 Pledged for public deposits and for other purposes necessary or required by law68,279 86,162 Total$531,425 $548,987 AFS securities pledged to repurchase agreements consisted of the following at:June 302025December 312024U.S. Treasury$48,486 $57,271 Mortgage-backed securities7,508 7,979 Collateralized mortgage obligations