Company: ISBA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000842517-25-000099
Chunk: 21

Company: ISABELLA BANK CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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949 3,916 7,865 Issuance of common stock17,332 419 — — — 419 Common stock issued for deferred compensation under the RSP11,367 — — — — — Common stock transferred from the Rabbi Trust to satisfy deferred compensation obligations— 42 (42)— — — Share-based payment awards under the Directors Plan— — 167 — — 167 Share-based compensation expense recognized in earnings under the RSP— 7 — — — 7 Common stock purchased for deferred compensation obligations— — — — — — Common stock repurchased(45,582)(1,145)— — — (1,145)Cash dividends paid ($0.28 per common share)— — — (2,033)— (2,033)March 31, 20257,408,010 $125,547 $2,508 $104,940 $(17,439)$215,556 

See notes to interim condensed consolidated financial statements (unaudited).

7

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(Dollars in thousands)

Three Months Ended  March 31 20252024Operating activitiesNet income$3,949 $3,131 Reconciliation of net income to net cash provided by operating activities(Reversal of) provision for credit losses(107)392 Depreciation535 506 Net amortization of AFS securities307 353 Net gain on sale of mortgage loans(30)(34)Increase in cash value of BOLI(368)(239)Share-based payment awards174 243 Origination of loans HFS(1,043)(1,690)Proceeds from loan sales1,188 1,358 Net changes in:Other assets(142)(114)Other liabilities241 (470)Net cash provided by (used in) operating activities4,704 3,436 Investing activitiesProceeds from sales, maturities, calls and prepayments of AFS securities21,058 7,284 Purchases of AFS securities(40,362)— Proceeds from sale of FHLB Stock7,162 — Net change in loans HFI55,576 (16,354)Purchases of premises