Company: ISBA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000842517-25-000099
Chunk: 19

Company: ISABELLA BANK CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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$2,102,587 $2,086,241 

See notes to interim condensed consolidated financial statements (unaudited).

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INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

(Dollars in thousands except per share amounts)

Three Months Ended  March 31 20252024Interest incomeLoans$19,348 $18,057 AFS securities2,643 2,884 FHLB stock160 146 Federal funds sold and other482 293 Total interest income22,633 21,380 Interest expenseDeposits7,463 7,163 Short-term borrowings341 321 FHLB advances38 388 Subordinated debt266 266 Total interest expense8,108 8,138 Net interest income14,525 13,242 (Reversal of) provision for credit losses(107)392 Net interest income after provision for credit losses14,632 12,850 Noninterest incomeService charges and fees1,974 1,933 Wealth management fees979 939 Earnings on BOLI372 243 Net gain on sale of mortgage loans30 34 Other173 319 Total noninterest income3,528 3,468 Noninterest expensesCompensation and benefits7,383 7,015 Occupancy and equipment2,600 2,706 Other professional services711 513 ATM and debit card fees486 469 Marketing459 426 FDIC insurance premiums303 252 Other1,357 1,295 Total noninterest expenses13,299 12,676 Income before income tax expense4,861 3,642 Income tax expense912 511 Net income$3,949 $3,131 Earnings per common shareBasic$0.53 $0.42 Diluted0.53 0.42 Cash dividends per common share0.28 0.28 

See notes to interim condensed consolidated financial statements (unaudited).

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Table of Contents

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)

(Dollars in thousands)

Three Months Ended  March 31 20252024Net income$3,949 $3,131 Unrealized gains (losses) on A