Company: ISBA
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0000842517-25-000135
Chunk: 23

Company: ISABELLA BANK CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(Dollars in thousands)

Six Months Ended  June 30 20252024Operating activitiesNet income$8,980 $6,612 Reconciliation of net income to net cash provided by operating activities(Reversal of) provision for credit losses(1,206)562 Depreciation1,072 1,025 Net amortization of AFS securities543 692 Net gain on sale of mortgage loans(77)(101)Increase in cash value of BOLI(667)(490)Share-based payment awards222 324 Origination of loans HFS(3,018)(4,214)Proceeds from loan sales3,282 3,678 Net changes in:Other assets1,899 544 Other liabilities1,513 330 Net cash provided by (used in) operating activities12,543 8,962 Investing activitiesProceeds from maturities, calls and prepayments of AFS securities47,819 19,587 Purchases of AFS securities(51,000)— Net change in loans HFI27,053 (33,078)Purchases of premises and equipment(1,584)(1,229)Purchases of BOLI policies(10,225)— Proceeds from sale of FHLB Stock7,162 — Low income housing tax credit investments(3,767)(3)Net cash provided by (used in) investing activities15,458 (14,723)Financing activitiesNet increase (decrease) in deposits102,316 (1,396)Net increase (decrease) in short-term borrowings(10,359)(2,607)Net increase (decrease) in FHLB advances(30,000)5,000 Cash dividends paid on common stock(4,055)(4,086)Proceeds from issuance of common stock759 840 Common stock repurchased(2,650)(1,402)Common stock purchased for deferred compensation obligations— (701)Net cash provided by (used in) financing activities56,011 (4,352)Increase (decrease) in cash and cash equivalents84,012 (10,113)Cash and cash equivalents at beginning of period24,542 33,672 Cash and cash equivalents at end of period$108,554 $23