Company: ISBA
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000842517-25-000135
Chunk: 95

Company: ISABELLA BANK CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 95
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 Discussion and Analysis of Financial Condition and Results of Operations” of this Form 10-Q under the heading “Interest Rate Sensitivity and Market Risk.”

54

Reconciliation of Non-GAAP Financial Measures

The following tables provide a detailed analysis, and reconciliation for, our non-GAAP financial measures as of, and for the:Three Months EndedSix Months Ended June 302025March 312025December 312024September 302024June 302024June 302025June 302024Net income$5,031 $3,949 $3,996 $3,281 $3,481 $8,980 $6,612 Net gains (losses) on foreclosed assets— (55)74 4 6 (55)75 Overdraft (charge-off) recoveries (1)1,556 — 66 (1,622)— 1,556 — Profitability initiative cost (2)(173)— (23)— — (173)— Legal fees related to Nasdaq (2)(47)(121)— — — (168)— Income tax impact on items above(281)37 (25)340 (1)(244)(16)Exchange fees on BOLI transfers (3)(120)— — — — (120)— Income tax expense on BOLI surrender (4)— (166)— — — (166)— Adjusted net income(A)$4,096 $4,254 $3,904 $4,559 $3,476 $8,350 $6,553 Noninterest expenses$13,745 $13,299 $13,330 $13,228 $12,895 $27,044 $25,571 Amortization of acquisition intangibles— 1 1 — 1 1 1 Non-GAAP expense adjustment220 121 23 — — 341 — Adjusted noninterest expense(B)$13,525 $13,177 $13,306 $13,228 $12,894 $27,043 $25,570 Net interest income$15,129 $14,525 $14,555 $14,488 $13,550 $29,654 $26,792 Tax equivalent adjustment for net interest margin178 184