Company: ISBA
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0000842517-25-000210
Chunk: 57

Company: ISABELLA BANK CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 57
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6.52 %FRB Discount Window— 296 4.50 %5,300 56 5.21 %Securities sold under agreements to repurchase are classified as secured borrowings and are reflected at the amount of cash received in connection with the transaction. The securities underlying the agreements have a carrying value and a fair value of $87,641 and $67,539 at September 30, 2025 and December 31, 2024, respectively. Such securities remain under our control. We may be required to provide additional collateral based on the fair value of underlying securities.Securities sold under repurchase agreements without stated maturity dates were as follows as of:September 30, 2025December 31, 2024AmountRateAmountRateSecurities sold under agreements to repurchase without stated maturity dates$62,022 3.45 %$53,567 3.18 %We had pledged AFS securities and 1-4 family residential real estate loans in the following amounts at:September 302025December 312024Pledged to secure borrowed funds$413,680 $395,286 Pledged to secure repurchase agreements87,641 67,539 Pledged for public deposits and for other purposes necessary or required by law68,847 86,162 Total$570,168 $548,987 AFS securities pledged to repurchase agreements consisted of the following at:September 302025December 312024U.S. Treasury$78,547 $57,271 Mortgage-backed securities7,192 7,979 Collateralized mortgage obligations1,902 2,289 Total$87,641 $67,539 

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AFS securities pledged to repurchase agreements are monitored to ensure the appropriate level is collateralized.  In the event of maturities, calls, significant principal repayments, or significant decline in market values, we have an adequate level of AFS securities to pledge to satisfy collateral requirements.As of September 30, 2025, we had the ability to borrow up to an additional $384,555 without pledging additional collateral.FHLB advancesFHLB advances are collateralized by a blanket lien on all qualified 1-4 family residential real estate loans, specific AFS securities, and FHLB stock.The following table lists the maturities and weighted average interest rates of FHLB advances as of:September 30, 202