Company: ISBA
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000842517-25-000053
Chunk: 86

Company: ISABELLA BANK CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 8
Chunk 86
---
 “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses"In November 2024, ASU No. 2024-03 was issued to improve the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses (including purchases of inventory, employee compensation, depreciation, amortization, and depletion) in commonly presented expense captions (such as cost of sales, selling general and administrative expense, and research and development). The new authoritative guidance is effective for annual periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, as clarified in ASU No. 2025-01 issued in January 2025.  The new authoritative guidance under ASU No. 2024-03 is not expected to have a significant impact on our operations or financial statement disclosures.

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Table of Contents

Note 2 – AFS Securities

The amortized cost and fair value of AFS securities, with gross unrealized gains and losses, are as follows as of December 31: 2024AmortizedCostGrossUnrealizedGainsGrossUnrealizedLossesFairValueU.S. Treasury$230,807 $— $10,236 $220,571 States and political subdivisions81,135 9 4,576 76,568 Auction rate money market preferred3,200 — 156 3,044 Mortgage-backed securities29,068 — 2,182 26,886 Collateralized mortgage obligations163,156 — 8,482 154,674 Corporate8,150 — 864 7,286 Total$515,516 $9 $26,496 $489,029  2023AmortizedCostGrossUnrealizedGainsGrossUnrealizedLossesFairValueU.S. Treasury$231,218 $— $16,417 $214,801 States and political subdivisions94,837 1,032 2,993 92,876 Auction rate money market preferred3,200 — 269 2,931 Mortgage-backed securities35,321 — 2,506 32,815 Collateralized mortgage obligations187,248 — 9,473 177,775