Company: ISBA
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000842517-25-000053
Chunk: 54

Company: ISABELLA BANK CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 54
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Reserve for unfunded commitments512 315 — Provision for credit losses - unfunded commitments197 — — Reserve to unfunded commitments0.15 %0.10 %0.00 %NET LOAN CHARGE-OFFS (RECOVERIES)Commercial and industrial$339 $197 $(336)Commercial real estate(355)(26)(29)Agricultural(6)(8)(9)Residential real estate(118)(327)(150)Consumer2,040 279 260 Total$1,900 $115 $(264)Net (recoveries) charge-offs to average loans0.14 %0.01 %(0.02)%DELINQUENT AND NONACCRUAL LOANSAccruing loans 30-89 days past due$5,682 $3,895 10,673 Accruing loans past due 90 days or more19 87 — Total accruing past due loans5,701 3,982 10,673 Nonaccrual loans282 982 457 Total past due and nonaccrual loans$5,983 $4,964 $11,130 

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Table of Contents

Capital

Capital consists solely of common stock, retained earnings, and accumulated other comprehensive income (loss).  We are authorized to raise capital through dividend reinvestment, employee and director stock purchases, and shareholder stock purchases.  Pursuant to these authorizations, we issued 75,341 shares or $1,523 of common stock during 2024, and 75,488 shares or $1,617 of common stock in 2023.  We offer the Directors Plan in which participants purchase stock units through deferred fees, in lieu of cash payments.  Pursuant to this plan, we increased shareholders’ equity by $381 and $529 during 2024 and 2023, respectively.  We also grant restricted stock awards pursuant to the RSP.  Pursuant to this plan, we increased shareholders’ equity by $95 and $253 during 2024 and 2023.

We have publicly announced a common stock repurchase plan.  Pursuant to this plan, we repurchased 152,577 shares or $3,076 of common stock during 2024 and 149,020 shares or $3,415 during 2023.  As of December 31, 2024, we were authorized