ISABELLA BANK Corp
For the period ended Dec 31, 2024. Filed Mar 12, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 12, 2025
ISBA$41.14+1.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Table of Contents
ISABELLA BANK CORPORATION
ANNUAL REPORT ON FORM 10-K
| PART I | 4 | |
|---|---|---|
| Item 1. | Business | 4 |
| Item 1A. | Risk Factors | 6 |
| Item 1B. | Unresolved Staff Comments | 13 |
| Item 1C. | Cybersecurity | 13 |
| Item 2. | Properties | 14 |
| Item 3. | Legal Proceedings | 14 |
| Item 4. | Mine Safety Disclosures | 14 |
| PART II | 15 | |
| Item 5. | Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 15 |
| Item 6. | [Reserved] | 16 |
| Item 7. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 17 |
| Item 7A. | Quantitative and Qualitative Disclosures About Market Risk | 33 |
| Item 8. | Financial Statements and Supplementary Data | 34 |
| Item 9. | Changes in and Disagreements With Accountants on Accounting and Financial Disclosure | 89 |
| Item 9A. | Controls and Procedures | 89 |
| Item 9B. | Other Information | 90 |
| Item 9C. | Disclosure Regarding Foreign Jurisdictions that Prevent Inspections | 90 |
| PART III | 91 | |
| Item 10. | Directors, Executive Officers and Corporate Governance | 91 |
| Item 11. | Executive Compensation | 91 |
| Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 91 |
| Item 13. | Certain Relationships and Related Transactions, and Director Independence | 92 |
| Item 14. | Principal Accountant Fees and Services | 92 |
| PART IV | 93 | |
| Item 15. | Exhibit and Financial Statement Schedules | 93 |
| SIGNATURES | 95 |
Glossary of Acronyms and Abbreviations
The acronyms and abbreviations identified below may be used throughout this Annual Report on Form 10-K or in our other SEC filings. You may find it helpful to refer back to this page while reading this report.
| ACL: Allowance for credit losses | FTE: Fully taxable equivalent |
|---|---|
| AFS: Available-for-sale | GAAP: U.S. generally accepted accounting principles |
| ALCO: Asset-Liability Committee | HFI: Held-for-investment |
| ALLL: Allowance for loan and lease losses | HFS: Held-for-sale |
| AOCI: Accumulated other comprehensive income | IRR: Interest rate risk |
| ASC: FASB Accounting Standards Codification | IT: Information Technology |
| ASU: FASB Accounting Standards Update | N/A: Not applicable |
| ATM: Automated teller machine | N/M: Not meaningful |
| BHC Act: Bank Holding Company Act of 1956 | NASDAQ: NASDAQ Stock Market Index |
| Board: Board of Directors of Isabella Bank Corporation | NAV: Net asset value |
| BOLI: Bank-owned life insurance | NIM: Net Interest Margin |
| CECL: Current expected credit losses | NSF: Non-sufficient funds |
| CFPB: Consumer Financial Protection Bureau | NYSE: New York Stock Exchange |
| CIK: Central Index Key | OCI: Other comprehensive income (loss) |
| DIF: Deposit Insurance Fund | OMSR: Originated mortgage servicing rights |
| DIFS: Department of Insurance and Financial Services | OREO: Other real estate owned |
| Directors Plan: Isabella Bank Corporation and Related Companies Deferred Compensation Plan for Directors | PCAOB: Public Company Accounting Oversight Board |
| Dividend Reinvestment Plan: Isabella Bank Corporation Stockholder Dividend Reinvestment Plan and Employee Stock Purchase Plan | Rabbi Trust: A trust established to fund our Directors Plan |
| Exchange Act: Securities Exchange Act of 1934 | RSP: Isabella Bank Corporation Restricted Stock Plan |
| FASB: Financial Accounting Standards Board | SOFR: Secured Overnight Financing Rate |
| FDIC: Federal Deposit Insurance Corporation | SEC: U.S. Securities and Exchange Commission |
| FFIEC: Federal Financial Institutions Examinations Council | SOX: Sarbanes-Oxley Act of 2002 |
| FHLB: Federal Home Loan Bank | XBRL: eXtensible Business Reporting Language |
| FRB: Federal Reserve Bank | Yield Curve: U.S. Treasury Yield Curve |
| Freddie Mac: Federal Home Loan Mortgage Corporation | |
PART I
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.