Company: ISBA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000842517-25-000099
Chunk: 22

Company: ISABELLA BANK CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 22
---
 and equipment(984)(818)Purchases of BOLI policies(10,583)— Low income housing tax credit investments(3,767)(3)Net cash provided by (used in) investing activities28,100 (9,891)Financing activitiesNet increase (decrease) in deposits50,849 44,612 Net increase (decrease) in short-term borrowings(6,257)(3,803)Net increase (decrease) in FHLB advances(30,000)(40,000)Cash dividends paid on common stock(2,033)(2,095)Proceeds from issuance of common stock419 447 Common stock repurchased(1,145)(740)Common stock purchased for deferred compensation obligations— (420)Net cash provided by (used in) financing activities11,833 (1,999)Increase (decrease) in cash and cash equivalents44,637 (8,454)Cash and cash equivalents at beginning of period24,542 33,672 Cash and cash equivalents at end of period$69,179 $25,218 Supplemental cash flows informationInterest paid$7,919 $7,844 Supplemental noncash informationTransfers of loans to foreclosed assets218 199 

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

8

NOTES TO INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

(Dollars in thousands except per share amounts)

Note 1 – Significant Accounting Policies

BASIS OF PRESENTATION AND CONSOLIDATION: As used in these notes, as well as in Management's Discussion and Analysis of Financial Condition and Results of Operations, references to “the Corporation”, “Isabella”, “we”, “our”, “us”, and similar terms refer to the consolidated entity consisting of Isabella Bank Corporation and its subsidiary.  References to Isabella Bank or “the Bank” refers to Isabella Bank Corporation’s subsidiary, Isabella Bank.The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In our opinion, all adjustments considered necessary for a fair presentation have been included. Operating results for the three-month period ended March 31, 2025