Company: ISBA
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0000842517-25-000210
Chunk: 22

Company: ISABELLA BANK CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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,350,567 $124,284 $2,373 $111,172 $(10,409)$227,420 

See notes to interim condensed consolidated financial statements (unaudited).

8

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(Dollars in thousands)

Nine Months Ended  September 30 20252024Operating activitiesNet income$14,220 $9,893 Reconciliation of net income to net cash provided by operating activities(Reversal of) provision for credit losses(997)1,508 Depreciation1,601 1,555 Net amortization of AFS securities771 1,017 Net gain on sale of mortgage loans(115)(138)Increase in cash value of BOLI(1,125)(733)Share-based payment awards278 403 Origination of loans HFS(4,881)(6,168)Proceeds from loan sales4,501 5,802 Net changes in:Other assets(2,002)(895)Other liabilities3,039 270 Net cash provided by (used in) operating activities15,290 12,514 Investing activitiesProceeds from maturities, calls and prepayments of AFS securities52,359 31,183 Purchases of AFS securities(62,148)— Net change in loans HFI(8,008)(77,151)Purchases of premises and equipment(2,601)(1,590)Purchases of BOLI policies(10,225)— Proceeds from sale of FHLB stock7,162 — Low income housing tax credit investments(3,767)(1,690)Net cash provided by (used in) investing activities(27,228)(49,248)Financing activitiesNet increase (decrease) in deposits178,542 58,137 Net increase (decrease) in short-term borrowings8,455 5,633 Net increase (decrease) in FHLB advances(30,000)(25,000)Cash dividends paid on common stock(6,072)(6,110)Proceeds from issuance of common stock1,031 1,190 Common stock repurchased(3,259)(2,419)Common stock purchased for deferred compensation obligations— (991)Net cash provided by (used in) financing activities148,697 30