Company: ISBA
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0000842517-25-000210
Chunk: 17

Company: ISABELLA BANK CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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Item 1. Financial Statements.

INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(Dollars in thousands)September 302025December 312024ASSETSCash and demand deposits due from banks$32,124 $22,830 Fed Funds sold and interest bearing balances due from banks129,177 1,712 Total cash and cash equivalents161,301 24,542 AFS securities, at fair value511,970 489,029 FHLB stock5,600 12,762 Mortgage loans HFS737 242 Loans1,431,905 1,423,571 Less allowance for credit losses13,149 12,895 Net loans1,418,756 1,410,676 Premises and equipment28,659 27,659 Cash surrender value of BOLI45,651 34,882 Goodwill and other intangible assets48,282 48,283 Other assets38,698 38,166 Total assets$2,259,654 $2,086,241 LIABILITIES AND SHAREHOLDERS’ EQUITYLiabilitiesDemand deposits$421,027 $416,373 Interest bearing demand deposits248,666 237,548 Money market deposits558,212 423,883 Savings292,899 281,665 Certificates of deposit404,798 387,591 Total deposits1,925,602 1,747,060 Short-term borrowings62,022 53,567 FHLB advances— 30,000 Subordinated debt, net of unamortized issuance costs29,492 29,424 Total borrowed funds91,514 112,991 Other liabilities15,118 15,914 Total liabilities2,032,234 1,875,965 Shareholders’ equityCommon stock — no par value, 15,000,000 shares authorized: issued and outstanding 7,350,567 shares at September 30, 2025 and 7,424,893 shares at December 31, 2024124,284 126,224 Shares to be issued for deferred compensation obligations2,373 2,383 Retained earnings111,172 103,024 Accumulated other comprehensive loss(10,409)(21,355)Total shareholders’ equity227,420 210,276