Company: ISBA
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000842517-25-000053
Chunk: 88

Company: ISABELLA BANK CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 8
Chunk 88
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 Twelve MonthsTwelve Months or More GrossUnrealizedLossesFairValueGrossUnrealizedLossesFairValueTotalUnrealizedLossesU.S. Treasury$— $— $10,236 $220,571 $10,236 States and political subdivisions486 23,553 4,090 36,796 4,576 Auction rate money market preferred— — 156 3,044 156 Mortgage-backed securities— — 2,182 26,886 2,182 Collateralized mortgage obligations185 5,646 8,297 149,028 8,482 Corporate— — 864 7,286 864 Total$671 $29,199 $25,825 $443,611 $26,496 Number of securities in an unrealized loss position:175 178 353  2023 Less Than Twelve MonthsTwelve Months or MoreGrossUnrealizedLossesFairValueGrossUnrealizedLossesFairValueTotalUnrealizedLossesU.S. Treasury$— $— $16,417 $214,801 $16,417 States and political subdivisions42 7,172 2,951 37,011 2,993 Auction rate money market preferred— — 269 2,931 269 Mortgage-backed securities1 10 2,505 32,805 2,506 Collateralized mortgage obligations116 4,554 9,357 173,221 9,473 Corporate— — 1,200 6,950 1,200 Total$159 $11,736 $32,699 $467,719 $32,858 Number of securities in an unrealized loss position:22 186 208 As of December 31, 2024, 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