Company: ISBA
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000842517-25-000053
Chunk: 135

Company: ISABELLA BANK CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 8
Chunk 135
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Accrued interest payable890 890 890 — — (1) Due to the characteristics of equity securities without readily determinable fair values, they are not disclosed under a specific fair value hierarchy. When an impairment or write-down related to these securities is recorded, such amount would be classified as a nonrecurring Level 3 fair value adjustment.

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Table of Contents

Financial Instruments Recorded at Fair ValueThe table below presents the recorded amount of assets and liabilities measured at fair value on December 31: 20242023TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3Recurring itemsAFS securitiesU.S. Treasury$220,571 $— $220,571 $— $214,801 $— $214,801 $— States and political subdivisions76,568 — 76,568 — 92,876 — 92,876 — Auction rate money market preferred3,044 — 3,044 — 2,931 — 2,931 — Mortgage-backed securities26,886 — 26,886 — 32,815 — 32,815 — Collateralized mortgage obligations154,674 — 154,674 — 177,775 — 177,775 — Corporate7,286 — 7,286 — 6,950 — 6,950 — Total AFS securities489,029 — 489,029 — 528,148 — 528,148 — Nonrecurring itemsCollateral dependent (net of ACL)254 — — 254 1,083 — — 1,083 OMSR2,185 — — 2,185 2,422 — 2,422 — Foreclosed assets544 — — 544 406 — — 406 Total$492,012 $— $489,029 $2,983 $532,059 $— $530,570 $1,489 Percent of assets and liabilities measured at fair value0.00 %99.39 %0.61 %0.00 %99.72 %0.28 %We recorded losses of $1 and $0 through earnings related to fair value changes in OMS