Company: ISBA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000842517-25-000099
Chunk: 62

Company: ISABELLA BANK CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 62
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 write-down related to these securities is recorded, such amount would be classified as a nonrecurring Level 3 fair value adjustment.

36

Financial Instruments Recorded at Fair ValueThe table below presents the recorded amount of assets and liabilities measured at fair value on: March 31, 2025December 31, 2024TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3Recurring itemsAFS securitiesU.S. Treasury$212,783 $— $212,783 $— $220,571 $— $220,571 $— States and political subdivisions74,222 — 74,222 — 76,568 — 76,568 — Auction rate money market preferred2,829 — 2,829 — 3,044 — 3,044 — Mortgage-backed securities25,828 — 25,828 — 26,886 — 26,886 — Collateralized mortgage obligations190,078 — 190,078 — 154,674 — 154,674 — Corporate7,300 — 7,300 — 7,286 — 7,286 — Total AFS securities513,040 — 513,040 — 489,029 — 489,029 — Nonrecurring itemsCollateral dependent (net of ACL)145 — — 145 254 — — 254 Foreclosed assets649 — — 649 544 — — 544 Total$513,834 $— $513,040 $794 $489,827 $— $489,029 $798 Percent of assets and liabilities measured at fair value0.00 %99.85 %0.15 %0.00 %99.84 %0.16 %We recorded an impairment related to foreclosed assets of $63 through earnings for the three month periods ended March 31, 2025 and $0 for the three month period ended March 31, 2024. We had no other assets or liabilities recorded at fair value with changes in fair value recognized through earnings, on a recurring basis or nonrecurring basis, as of March 31, 2025.  Further, we had no unrealized gains and losses included