Company: ISBA
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000842517-25-000053
Chunk: 72

Company: ISABELLA BANK CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 8
Chunk 72
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 expense recognized in earnings under the RSP— 95 — — — 95 Common stock purchased for deferred compensation obligations— (1,332)— — — (1,332)Common stock repurchased(152,577)(3,076)— — — (3,076)Cash dividends paid ($1.12 per common share)— — — (8,147)— (8,147)Balance, December 31, 20247,424,893 $126,224 $2,383 $103,024 $(21,355)$210,276 

The accompanying notes are an integral part of these consolidated financial statements.

41

Table of Contents

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Dollars in thousands)

Year Ended December 31 202420232022Operating activitiesNet income$13,889 $18,167 $22,238 Reconciliation of net income to net cash provided by operating activitiesProvision for credit losses1,884 629 483 Depreciation2,086 1,978 2,071 Net amortization of AFS securities1,332 1,474 2,018 Net gain on sale of mortgage loans(213)(317)(631)Change in OMSR valuation allowance1 — (532)Increase in cash value of BOLI(990)(904)(818)Share-based payment awards476 782 610 Deferred income tax expense (benefit)(310)1,008 13 Origination of loans HFS(8,768)(9,657)(21,382)Proceeds from loan sales8,739 10,353 23,369 Net changes in:Other assets1,719 (427)(2,822)Other liabilities(208)1,096 2,269 Net cash provided by (used in) operating activities19,637 24,182 26,886 Investing activitiesProceeds from sales, maturities, calls and prepayments of AFS securities48,526 75,090 68,956 Purchases of AFS securities(5,400)(10,866)(210,869)Net change in loans HFI(76,862)(85,783)36,672 Purchases of premises and equipment(2,106)(4,064)(3,205)Proceeds from sale of FHLB