Company: ISBA
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000842517-25-000053
Chunk: 68

Company: ISABELLA BANK CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 8
Chunk 68
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 Less allowance for credit losses12,895 13,108 Net loans1,410,676 1,336,355 Premises and equipment27,659 27,639 Cash surrender value of BOLI34,882 33,892 Goodwill and other intangible assets48,283 48,284 Other assets38,166 38,216 Total assets$2,086,241 $2,058,968 LIABILITIES AND SHAREHOLDERS’ EQUITYLiabilitiesDemand deposits$416,373 $428,505 Interest bearing demand deposits341,366 320,737 Savings601,730 628,079 Certificates of deposit387,591 346,374 Total deposits1,747,060 1,723,695 Short-term borrowings53,567 46,801 FHLB advances30,000 40,000 Subordinated debt, net of unamortized issuance costs29,424 29,335 Total borrowed funds112,991 116,136 Other liabilities15,914 16,735 Total liabilities1,875,965 1,856,566 Shareholders’ equityCommon stock — no par value 15,000,000 shares authorized; issued and outstanding 7,424,893 shares in 2024 and 7,485,889 shares in 2023126,224 127,323 Shares to be issued for deferred compensation obligations2,383 3,693 Retained earnings103,024 97,282 Accumulated other comprehensive income (loss)(21,355)(25,896)Total shareholders’ equity210,276 202,402 Total liabilities and shareholders' equity$2,086,241 $2,058,968 

The accompanying notes are an integral part of these consolidated financial statements.

38

Table of Contents

CONSOLIDATED STATEMENTS OF INCOME

(Dollars in thousands except per share amounts)

Year Ended December 31 202420232022Interest incomeLoans$77,295 $65,670 $53,283 AFS securities11,093 12,156 11,171 FHLB stock640 355 174 Federal funds sold and other950 1,450 1,170 Total interest income89,978 79,631 65,798 Interest expenseDeposits29,690 18,352