Company: ISBA
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000842517-25-000099
Chunk: 26

Company: ISABELLA BANK CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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,646 8,297 149,028 8,482 Corporate— — 864 7,286 864 Total$671 $29,199 $25,825 $443,611 $26,496 Number of securities in an unrealized loss position:175 178 353 As of March 31, 2025, no allowance for credit losses has been recognized on AFS securities in an unrealized loss position, as management does not believe any of the securities are impaired due to reasons of credit quality. This is based on our analysis of the underlying risk characteristics, including credit ratings, and other qualitative factors related to our AFS securities and consideration of our historical credit loss experience and internal forecasts. The issuers of these securities continue to make timely principal and interest payments under the contractual terms of the securities. Furthermore, management does not intend to sell any of the securities classified as AFS in the table above, and believes it is more likely than not that we will not have to sell any such securities before a recovery of cost. The unrealized losses are due to increases in market interest rates over the yields available at the time the underlying securities were purchased. The fair value is expected to recover as the securities approach their respective maturity date or repricing date, or if the market yields for such investments decline.

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Note 3 – Loans and ACL

Loan CompositionThe following table provides a detailed listing of our loan portfolio at:March 31, 2025December 31, 2024BalancePercent of TotalBalancePercent of TotalCommercial and industrialSecured$220,884 16.15 %$221,510 15.56 %Unsecured28,336 2.07 %23,384 1.64 %Total commercial and industrial249,220 18.22 %244,894 17.20 %Commercial real estateCommercial mortgage owner occupied183,228 13.40 %178,376 12.53 %Commercial mortgage non-owner occupied206,976 15.13 %208,118 14.62 %Commercial mortgage 1-4 family investor93,845 6.86 %92,497 6.50 %Commercial mortgage multifamily68,185 4.99 %68,456 4.81 %Total commercial real estate552,234 40.38 %547,447 38.46 %Advances to mortgage brokers