Company: ISBA
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000842517-25-000053
Chunk: 60

Company: ISABELLA BANK CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 60
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10,128 125,043 312,365 451,732 Advances to mortgage brokers— — — — — Agricultural13,394 11,737 25,466 34,995 85,592 Residential real estate1,383 9,840 39,098 210,001 260,322 Consumer275 473 89 — 837 Total$53,928 $59,675 $214,313 $617,042 $944,958 

Contractual Obligations and Loan Commitments

We have various financial obligations, including contractual obligations and commitments related to deposits and borrowings, which may require future cash payments.  We also have loan related commitments that may impact liquidity.  The commitments include unused lines of credit, commercial and standby letters of credit, and commitments to grant loans.  These commitments to grant loans include residential mortgage loans with the majority committed to be sold to the secondary market.  Many of these commitments historically have expired without being drawn upon and do not necessarily represent our future cash requirements.

For additional disclosure related to Contractual Obligations and Loan Commitments, see “Note 14 – Off-Balance-Sheet Activities, Commitments and Other Matters” of “Notes to Consolidated Financial Statements” in Item 8. Financial Statements and Supplementary Data.

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Table of Contents

Reconciliation of Non-GAAP Financial Measures

The following tables provide a detailed analysis, and reconciliation for, our non-GAAP financial measures as of, and for the years ended December 31: 202420232022Net income$13,889 $18,167 $22,238 Nonrecurring itemsNet gains on sale of AFS securities— 67 — Net gains on foreclosed assets153 158 13 Overdraft (charge-off) recoveries (1)(1,556)— — Profitability initiative cost(23)— — Income tax impact299 (47)(3)Total nonrecurring items(1,127)178 10 Adjusted net income(A)$15,016 $17,989 $22,228 Noninterest expenses$52,129 $49,310 $46,820 Amortization of acquisition intangibles1 3 15 Adjusted noninterest expense(B)$52,128 $49,307 $46,805 Net interest income$55,835 $