Company: ISBA
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000842517-25-000053
Chunk: 140

Company: ISABELLA BANK CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 8
Chunk 140
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1,196 Other assets47,663 47,949 Total assets$239,787 $231,826 Liabilities and Shareholders' EquitySubordinated debt, net of unamortized issuance costs$29,424 $29,335 Other liabilities87 89 Shareholders' equity210,276 202,402 Total liabilities and shareholders' equity$239,787 $231,826 

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Condensed Statements of IncomeYear Ended December 31202420232022IncomeDividends from subsidiaries$22,000 $30,000 $6,000 Interest income511 191 15 Other income11 13 14 Total income22,522 30,204 6,029 ExpensesManagement fee1,188 952 900 Interest expense1,065 1,065 1,065 Audit, consulting, and legal fees561 577 522 Director fees357 408 417 Other362 354 339 Total expenses3,533 3,356 3,243 Income before income tax benefit and equity in undistributed earnings of subsidiaries18,989 26,848 2,786 Federal income tax benefit626 654 670 Income before equity in undistributed earnings of subsidiaries19,615 27,502 3,456 Undistributed earnings of subsidiaries(5,726)(9,335)18,782 Net income$13,889 $18,167 $22,238 

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Condensed Statements of Cash FlowsYear Ended December 31202420232022Operating activitiesNet income$13,889 $18,167 $22,238 Adjustments to reconcile net income to cash provided by operationsUndistributed earnings of subsidiaries5,726 9,335 (18,782)Share-based payment awards476 782 610 Amortization of subordinated debt issuance costs89 90 87 Depreciation56 52 50 Deferred income tax expense (benefit)313 228 (133)Net changes in:Other assets(27)(255)1,383 Other liabilities(2)(199)160 Net cash provided by (used in) operating activities20,520 28,200 5,613 Investing activitiesPurchase of equity investments— — (250)Net (purchases) sales of premises and equipment—