Company: ISBA
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000842517-25-000053
Chunk: 124

Company: ISABELLA BANK CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 8
Chunk 124
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,240)(345)— — Forfeited— — — — Ending balance14,733$323 27,072$592 Expenses related to the RSP for 2024, 2023, 2022 were $95, $253, and $147 respectively.  As of December 31, 2024, there was $88 of total remaining unrecognized compensation expense related to nonvested restricted stock awards granted under the RSP.  The remaining expense is expected to be recognized over a weighted-average service period of 2.38 years.Other Employee Benefit PlansWe maintain nonqualified defined contribution retirement plans to provide supplemental retirement benefits to specified participants.  Expenses related to these programs for 2024, 2023 and 2022 were $529, $345, and $251, respectively.  Expenses are recognized over the participants’ expected years of service.We maintain a self-funded medical plan under which we are responsible for the first $100 per year of claims made by a covered family.  Expenses are accrued based on estimates of the aggregate liability for claims incurred and our experience.  Expenses were $2,895 in 2024, $2,281 in 2023 and $3,026 in 2022.

Note 9 – Capital Ratios and Shareholders' Equity

The Corporation (on a consolidated basis) and the Bank are subject to various regulatory capital requirements administered by the FRB and the FDIC.  Failure to meet minimum capital requirements can initiate mandatory and possibly additional discretionary actions by the FRB and the FDIC that, if undertaken, could have a material effect on our financial statements.  Under regulatory capital adequacy guidelines and the regulatory framework for prompt corrective action, we must meet specific capital guidelines that include quantitative measures of assets, liabilities, capital, and certain off-balance-sheet items, as calculated under regulatory accounting standards.  Our capital amounts and classifications are also subject to qualitative judgments by the FRB and the FDIC about components, risk weightings, and other factors.  Prompt corrective action provisions are not applicable to bank holding companies.Quantitative measures established by regulation to ensure capital adequacy require us to maintain minimum amounts and ratios (set forth in the following table) of total capital, tier 1 capital, and common equity tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined) and tier 1 capital to average assets (as defined).  As of December 31, 2024 and