Company: ISBA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000842517-25-000099
Chunk: 18

Company: ISABELLA BANK CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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Item 1. Financial Statements.

INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(Dollars in thousands)March 312025December 312024ASSETSCash and demand deposits due from banks$28,786 $22,830 Fed Funds sold and interest bearing balances due from banks40,393 1,712 Total cash and cash equivalents69,179 24,542 AFS securities, at fair value513,040 489,029 FHLB stock5,600 12,762 Mortgage loans HFS127 242 Loans1,367,724 1,423,571 Less allowance for credit losses12,735 12,895 Net loans1,354,989 1,410,676 Premises and equipment28,108 27,659 Cash surrender value of BOLI45,833 34,882 Goodwill and other intangible assets48,282 48,283 Other assets37,429 38,166 Total assets$2,102,587 $2,086,241 LIABILITIES AND SHAREHOLDERS’ EQUITYLiabilitiesDemand deposits$404,194 $416,373 Interest bearing demand deposits243,939 237,548 Money market deposits473,138 423,883 Savings286,399 281,665 Certificates of deposit390,239 387,591 Total deposits1,797,909 1,747,060 Short-term borrowings47,310 53,567 FHLB advances— 30,000 Subordinated debt, net of unamortized issuance costs29,447 29,424 Total borrowed funds76,757 112,991 Other liabilities12,365 15,914 Total liabilities1,887,031 1,875,965 Shareholders’ equityCommon stock — no par value 15,000,000 shares authorized: issued and outstanding 7,408,010 shares in 2025 and 7,424,893 shares in 2024125,547 126,224 Shares to be issued for deferred compensation obligations2,508 2,383 Retained earnings104,940 103,024 Accumulated other comprehensive income (loss)(17,439)(21,355)Total shareholders’ equity215,556 210,276 Total liabilities and shareholders' equity