Company: ISBA
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000842517-25-000135
Chunk: 18

Company: ISABELLA BANK CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 18
---
Item 1. Financial Statements.

INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(Dollars in thousands)June 302025December 312024ASSETSCash and demand deposits due from banks$34,246 $22,830 Fed Funds sold and interest bearing balances due from banks74,308 1,712 Total cash and cash equivalents108,554 24,542 AFS securities, at fair value500,560 489,029 FHLB stock5,600 12,762 Mortgage loans HFS55 242 Loans1,397,513 1,423,571 Less allowance for credit losses12,977 12,895 Net loans1,384,536 1,410,676 Premises and equipment28,171 27,659 Cash surrender value of BOLI45,774 34,882 Goodwill and other intangible assets48,282 48,283 Other assets34,636 38,166 Total assets$2,156,168 $2,086,241 LIABILITIES AND SHAREHOLDERS’ EQUITYLiabilitiesDemand deposits$493,477 $416,373 Interest bearing demand deposits223,376 237,548 Money market deposits446,845 423,883 Savings289,746 281,665 Certificates of deposit395,932 387,591 Total deposits1,849,376 1,747,060 Short-term borrowings43,208 53,567 FHLB advances— 30,000 Subordinated debt, net of unamortized issuance costs29,469 29,424 Total borrowed funds72,677 112,991 Other liabilities13,615 15,914 Total liabilities1,935,668 1,875,965 Shareholders’ equityCommon stock — no par value, 15,000,000 shares authorized: issued and outstanding 7,361,684 shares at June 30, 2025 and 7,424,893 shares at December 31, 2024124,607 126,224 Shares to be issued for deferred compensation obligations2,331 2,383 Retained earnings107,949 103,024 Accumulated other comprehensive income (loss)(14,387)(21,355)Total shareholders’ equity220,500 210