Company: ISBA
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000842517-25-000053
Chunk: 87

Company: ISABELLA BANK CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 8
Chunk 87
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Corporate8,150 — 1,200 6,950 Total$559,974 $1,032 $32,858 $528,148 The amortized cost and fair value of AFS securities by contractual maturity at December 31, 2024 are as follows:MaturingSecurities with Variable Monthly Payments or Noncontractual MaturitiesDue inOne Yearor LessAfter OneYear ButWithinFive YearsAfter FiveYears ButWithinTen YearsAfterTen YearsTotalU.S. Treasury$29,926 $200,881 $— $— $— $230,807 States and political subdivisions14,393 21,300 18,239 27,203 — 81,135 Auction rate money market preferred— — — — 3,200 3,200 Mortgage-backed securities— — — — 29,068 29,068 Collateralized mortgage obligations— — — — 163,156 163,156 Corporate— — 8,150 — — 8,150 Total amortized cost$44,319 $222,181 $26,389 $27,203 $195,424 $515,516 Fair value$43,882 $211,893 $24,305 $24,345 $184,604 $489,029 Expected maturities for government sponsored enterprises and states and political subdivisions may differ from contractual maturities because issuers may have the right to call or prepay obligations.As the auction rate money market preferred investments have continual call dates, they are not reported by a specific maturity group.  Because of their variable monthly payments, mortgage-backed securities and collateralized mortgage obligations are not reported by a specific maturity group.A summary of the sales activity of AFS securities during the years ended December 31 is displayed in the following table. 202420232022Proceeds from sales of AFS securities$— $18,089 $— Realized gains (losses)— 67 — Applicable income tax expense (benefit)— 14 — 

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The information in the following tables pertains to AFS securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous loss position at December 31: 2024 Less Than