Company: ISBA
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000842517-25-000135
Chunk: 66

Company: ISABELLA BANK CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 66
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 loans1,423,571 1,363,883 — — 1,363,883 Less allowance for credit losses12,895 12,895 — — 12,895 Net loans1,410,676 1,350,988 — — 1,350,988 Accrued interest receivable8,085 8,085 8,085 — — Equity securities without readily determinable fair values (1)3,086 N/A— — — LIABILITIESDeposits without stated maturities1,359,469 1,359,469 1,359,469 — — Deposits with stated maturities387,591 385,200 — 385,200 — Short-term borrowings53,567 53,503 — 53,503 — FHLB advances30,000 30,000 — 30,000 — Subordinated debt, net of unamortized issuance costs29,424 27,658 — 27,658 — Accrued interest payable1,051 1,051 1,051 — — (1) Due to the characteristics of equity securities without readily determinable fair values, they are not disclosed under a specific fair value hierarchy. When an impairment or write-down related to these securities is recorded, such amount would be classified as a nonrecurring Level 3 fair value adjustment.

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Financial Instruments Recorded at Fair ValueThe table below presents the recorded amount of assets and liabilities measured at fair value on: June 30, 2025December 31, 2024TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3Recurring itemsAFS securitiesU.S. Treasury$204,306 $— $204,306 $— $220,571 $— $220,571 $— States and political subdivisions68,320 — 68,320 — 76,568 — 76,568 — Auction rate money market preferred2,765 — 2,765 — 3,044 — 3,044 — Mortgage-backed securities24,657 — 24,657 — 26,886 — 26,886 — Collateralized mortgage obligations