Company: ISBA
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000842517-25-000053
Chunk: 61

Company: ISABELLA BANK CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7
Chunk 61
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57,944 $60,481 Tax equivalent adjustment for net interest margin930 1,023 1,056 Net interest income (FTE)(C)56,765 58,967 61,537 Noninterest income14,576 13,827 13,666 Tax equivalent adjustment for efficiency ratio211 193 186 Adjusted revenue (FTE)71,552 72,987 75,389 Nonrecurring itemsNet gains on sale of AFS securities— 67 — Net gains on foreclosed assets153 158 13 Total nonrecurring items153 225 13 Adjusted revenue(D)$71,399 $72,762 $75,376 Efficiency ratio(B/D)73.01 %67.76 %62.10 %Average earning assets(E)1,955,919 1,933,431 1,933,262 Net yield on interest earning assets (FTE)(C/E)2.90 %3.05 %3.18 %Average assets(F)2,081,011 2,046,147 2,054,964 Average shareholders' equity(G)206,401 190,767 194,958 Average tangible shareholders' equity(H)158,118 142,482 146,663 Average diluted shares outstanding (2)(I)7,482,374 7,575,492 7,647,612 Adjusted diluted earnings per share(A/I)$2.01 $2.37 $2.91 Adjusted return on average assets(A/F)0.72 %0.88 %1.08 %Adjusted return on average shareholders' equity(A/G)7.28 %9.43 %11.40 %Adjusted return on average tangible shareholders' equity(A/H)9.50 %12.63 %15.16 %

(1) Includes provision for credit losses related to overdrawn deposit accounts from a single customer in the third quarter of 2024.

(2) Whole shares