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

Company: ISABELLA BANK CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 information provided to the CODM, who uses such information to review performance of various components of the business, which are then aggregated if operating performance, products and services, and geographical regions are similar.  The CODM will evaluate the financial performance of our business components by evaluating revenue streams, significant expenses, and budget to actual results in assessing our reportable segment and in the determination of allocating resources.  Further, the CODM uses revenue streams to evaluate product pricing and significant expenses to assess performance and evaluate return on assets.Consolidated net income is used to benchmark results against our competitors.  Benchmarking and monitoring of budget to actual results are used in assessment performance and in establishing compensation.  Revenue from banking operations consists primarily of loan and investment interest, deposit related fees, and wealth fees.  Interest expense, provision for credit losses, compensation, and occupancy and equipment costs provide the significant expenses in our banking operations.  All operations are domestic.RECLASSIFICATIONS: Certain amounts reported in the interim 2024 consolidated financial statements have been reclassified to conform with the 2025 presentation.  Additionally, certain amounts reported as commercial and industrial loans have been reclassified as commercial real estate loans to conform to the June 30, 2025 presentation.  Our accounting policies are materially the same as those discussed in Note 1 to the Consolidated Financial Statements included in our 2024 Annual Report on Form 10-K.

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Note 2 – AFS Securities

The amortized cost and fair value of AFS securities, with gross unrealized gains and losses, are as follows at: June 30, 2025AmortizedCostGrossUnrealizedGainsGrossUnrealizedLossesFairValueU.S. Treasury$210,588 $— $6,282 $204,306 States and political subdivisions72,933 4 4,617 68,320 Auction rate money market preferred3,200 — 435 2,765 Mortgage-backed securities26,093 — 1,436 24,657 Collateralized mortgage obligations197,190 744 4,694 193,240 Corporate8,150 — 878 7,272 Total$518,154 $748 $18,342 $500,560  December 31, 2024AmortizedCostGrossUnrealizedGainsGrossUnrealizedLossesFairValueU.S. Treasury$230,807