Company: ISBA
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0000842517-25-000210
Chunk: 67

Company: ISABELLA BANK CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 67
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2,185 Foreclosed assets1,018 — — 1,018 544 — — 544 Total$518,578 $— $511,970 $6,608 $492,012 $— $489,029 $2,983 Percent of assets and liabilities measured at fair value0.00 %98.73 %1.27 %0.00 %99.39 %0.61 %We recorded an impairment related to OMSR of $1 and $3 through earnings for the three and nine month periods ended September 30, 2025, respectively, and $21 for each of the three and nine month periods ended September 30, 2024.  We recorded impairments related to foreclosed assets of $26 and $89 for three and nine month periods ended September 30, 2025, respectively.  No impairments related to foreclosed assets were recorded for three and nine month periods ended September 30, 2024.  We had no other assets or liabilities recorded at fair value with changes in fair value recognized through earnings, on a recurring basis or nonrecurring basis, as of September 30, 2025.  Further, we had no unrealized gains and losses included in OCI for recurring Level 3 fair value measurements held at the end of the reporting period.

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Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.

(Dollars in thousands except per share amounts and ratios, unless otherwise noted)

The following is management's discussion and analysis of our financial condition and results of operations for the unaudited periods covered by this Quarterly Report on Form 10-Q for the three and nine months ended September 30, 2025 (this “Form 10-Q”). This analysis should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the SEC on March 12, 2025 (the “2024 Annual Report on Form 10-K”) and with the unaudited interim condensed consolidated financial statements and notes, beginning on page 4 of this Form 10-Q.  Unless we state otherwise or the context otherwise requires, references in this Form 10-Q to “we,” “our,” “us,” and “the Corporation” refer to Isabella Bank Corporation, a Michigan corporation and registered financial holding company, our wholly-owned banking