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7-23-2015

ISBA Announces Second Quarter 2015 Earnings

Jae A. Evans, Chief Executive Officer of Isabella Bank Corporation (OTCQX:ISBA), announced today that the Corporation's second quarter 2015 net income was $4.10 million as compared to $3.57 million for the second quarter of 2014. Net income for the first six months of 2015 and 2014 was $7.77 million and $6.87 million, respectively. Earnings for the three and six months ended June 30, 2015 represented record earnings for the Corporation. In addition to record earnings, the Corporation also posted record earnings per common share of $0.53 and $1.00 in the three and six month periods ended June 30, 2015, respectively. During the quarter, the Corporation paid a $0.23 per common share cash dividend, which represented a 4.55% increase over second quarter 2014. Based on the Corporation's average stock price of $23.31 for the month of June 2015, the annualized cash dividend yield was 3.95%.

The Corporation's earnings were primarily driven by increased interest income and continued improvements in credit quality. Net loan recoveries during the first six months of 2015 were $161,000 compared to net loans charged-off of $358,000 for the same period of 2014. Additionally, there continues to be reductions in loans classified as less than satisfactory and total loans past due. These factors allowed for a reduction in the level of the allowance for loan losses in both amount and as a percentage of gross loans, resulting in a reversal of the provision for loan losses of $1.26 million during the six month period ended June 30, 2015.

As of June 30, 2015, total assets increased to $1.59 billion and assets under management grew to $2.28 billion - which includes loans sold and serviced, and assets managed by the Corporation's Investment and Trust Services Department of $689.92 million. The Corporation grew its available-for-sale investment securities portfolio by $27.78 million and experienced growth in commercial and agricultural loans of $7.43 million during the first six months of 2015. To generate growth in our residential real estate and consumer loan portfolios, the Corporation is implementing new products, enhancing marketing efforts, streamlining delivery channels for direct and indirect loans, and expanding its service area.

The Corporation grew its available-for-sale investment securities portfolio in 2015 in response to the decline in its loan portfolio. The Corporation utilizes this strategy of growing earning assets to increase interest income. As interest rates remain low and are expected to increase only slightly in 2015, net interest income will increase only through growth in loans, investments, and other income earning assets.

Growth continues to be a strategic focus for the management team and the Board of Directors. The Corporation recently received regulatory approval to purchase two branch offices, one from Flagstar Bank (FSB) in Saginaw and the other from Independent Bank in Midland. These acquisitions are expected to increase visibility of the Corporation's solid financial products and exceptional customer service to provide future growth. The Flagstar Bank branch acquisition is expected to close by the end of July and the Independent Bank branch acquisition is expected to close by the end of August.

Isabella Bank, a subsidiary of the Corporation, was recently the recipient of several awards. Bank Director, a national organization focused on providing information and resources to senior executives and directors of financial institutions, recognized Isabella Bank among the top 50 banks in the U.S. for trust revenue growth in 2014. For the fourth consecutive year, Isabella Bank received a Financial Literacy Award from the Michigan Bankers Association for its efforts in promoting financial education throughout local schools and communities. Finally, Isabella Bank received a 5-Star Superior Rating from Bauer Financial, Inc. which is their highest rating based on the Bank's financial strength and overall performance.

For further information regarding Isabella Bank Corporation, please visit the website at www.isabellabank.com and click on the Investors Tab.

This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in the sections entitled "Risk Factors" and "Forward Looking Statements" set forth in Isabella Bank Corporation's filings with the Securities and Exchange Commission, which are available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.

7-02-2015

Isabella Bank Receives Regulatory Approval to Purchase Saginaw Branch from Flagstar Bank, FSB

Steven D. Pung, President of Isabella Bank, announced today that on June 25, 2015, the Federal Reserve Bank of Chicago, acting under authority delegated by the Board of Governors of the Federal Reserve System, approved the application filed by Isabella Bank to purchase certain assets and assume certain liabilities of a branch of Flagstar Bank, FSB (Flagstar) located at 4975 Bay Road, Saginaw, Michigan.  The purchase includes a total of approximately $43 million in deposits.  Subject to Flagstar's receipt of regulatory approvals and the satisfaction of customary closing conditions, the branch purchase is expected to close on or about July 31, 2015.

“We are excited to expand our services in Saginaw, Michigan.  Our acquisition of Flagstar’s Saginaw branch demonstrates our commitment to the Saginaw County community, who we currently serve through two full-service branches in Freeland and Hemlock.  We look forward to welcoming our new customers as well as developing new relationships in the community,” commented Pung.
 
Headquartered in Mt. Pleasant, Isabella Bank operates 27 branch locations throughout mid-Michigan and is a wholly owned subsidiary of Isabella Bank Corporation, a community-focused, financial holding company with assets of approximately $1.57 billion.  Total assets under management are $2.26 billion which includes loans sold and serviced, and assets managed by our Investment and Trust Services Department of $685.25 million.

For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com. Isabella Bank Corporation common stock is quoted on the OTCQX tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.” The Corporation's market maker is Boenning & Scattergood, Inc. (www.boenninginc.com).

Forward-Looking Statements
This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in the sections entitled "Risk Factors" and "Forward Looking Statements" set forth in Isabella Bank Corporation's filings with the Securities and Exchange Commission, which are available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.

 

6-29-2015

Isabella Bank Receives Regulatory Approval to Purchase Midland Branch from Independent Bank

Steven D. Pung, President of Isabella Bank, announced today that on June 25, 2015, the Federal Reserve Bank of Chicago, acting under authority delegated by the Board of Governors of the Federal Reserve System, approved the application filed by Isabella Bank to purchase certain assets and assume certain liabilities of a branch of Independent Bank located at 210 South Saginaw Road, Midland, Michigan.  Subject to satisfaction of customary closing conditions, the branch purchase is expected to close on or before September 1, 2015. “Our branch network will soon expand to 28 offices with the recent regulatory approval for the purchase of Independent Bank’s Midland office.  We are excited for the opportunity to serve the banking needs of current and future customers through two convenient Midland County locations,” commented Pung.
 
Headquartered in Mt. Pleasant, Isabella Bank operates 27 branch locations throughout mid-Michigan and is a wholly owned subsidiary of Isabella Bank Corporation, a community-focused, financial holding company with assets of approximately $1.57 billion.  Total assets under management are $2.26 billion which includes loans sold and serviced, and assets managed by our Investment and Trust Services Department of $685.25 million.   
 
For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com. Isabella Bank Corporation common stock is quoted on the OTCQX tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.” The Corporation's market maker is Boenning & Scattergood, Inc. (www.boenninginc.com).

Forward-Looking Statements
This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in the sections entitled "Risk Factors" and "Forward Looking Statements" set forth in Isabella Bank Corporation's filings with the Securities and Exchange Commission, which are available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.

 

6-26-2015

Isabella Bank Makes "Top 50" for Growth in Trust Income

Steven D. Pung, President of Isabella Bank, announced that Isabella Bank has been named in the Bank Director Magazine’s “Nifty 50” list of top performing banks in trust revenue growth.

“We have provided Trust Services to our market area since 1972.   We pride ourselves in delivering personalized services to meet the needs of our community.  It is an honor to be one of two Michigan banks recognized for trust income growth and listed among the top 50 banks in the United States,” commented Pung.

Bank Director ranked the banks that showed the most success on percentage growth of trust operations in 2014.  This ranking was limited to traditional banks with more than $1 billion in assets and excluded institutions with a primary focus on trust banking.

“A strong trust or investment management capability can bring balance to a bank’s revenue platform,” says Bank Director Editor Jack Milligan.  “In today’s environment, where low rates and intense competition for loans has helped drive down the industry’s net interest margin, that can be very valuable.”

Information about Bank Director
Since 1991, Bank Director has served as a leading information resource for the directors and senior officers of financial institutions.  Bank Director, headquartered in Brentwood, Tennessee, reaches America’s banking industry leaders through a quarterly magazine, executive level research, annual conferences, and its website, BankDirector.com.

Isabella Bank
Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.26 billion in assets under management.  Isabella Bank has 27 locations throughout 7 mid-Michigan counties and employs more than 390 people.  For the past two years, the company has been recognized on the Detroit Free Press list of “Top 100 Workplaces.”  To learn more, visit any of their 27 convenient locations or www.isabellabank.com.

 

6-11-2015

Isabella Bank Receives 2015 MBA Financial Literacy Award

Mount Pleasant, MI - Isabella Bank was honored by the Michigan Bankers Association for its financial literacy efforts throughout the year. The bank received their 2015 Financial Literacy Award during the MBA Bankers Education Summit and Trade Show (BEST) in Traverse City, Michigan, on April 1. This award is given to banks making the greatest efforts to educate their community on financial literacy.

“The MBA is proud to recognize Isabella Bank’s commitment to financial literacy. They are an example of the type of exemplary work banks do in their communities across Michigan every day,” said MBA President and CEO Dennis Koons.

Isabella Bank reached more than 58,000 people through their financial literacy efforts in 2014. Using over 70 employees, the bank ran several different programs to promote financial literacy, including a budget game for high school students, Junior Achievement programs, Community Shred Days, various online tools, and an iPad application for kids.
 
This past year, employees taught financial literacy lessons to more than 1,400 students through presentations, tours and a budget game. The game can be adapted for all different age levels; for high school, students make decisions about housing, transportation, and food, the game throws in unexpected expenses for a real life example. More than 40 employees provide over 100 hours of education through the Junior Achievement programs. The bank also partnered with a supplier of financial literacy booklets and paid for 18 schools to booklets distributed.

Isabella Bank also dedicates several pages on their website to financial education. The website provides a section designed for kids with a budget form and various fun financial activities. Along with financial calculators to help budget, the site also provides several guides for events such a retirement, planning long-term care and business succession planning.
 
Each year, the Michigan Bankers Association recognizes member banks for their outstanding work in financial literacy. The MBA Financial Literacy Awards recognize the industry’s hard work in financial literacy education and what member banks provide their customers and communities. All member banks are invited to submit an entry for the MBA Financial Literacy Awards.  Winners of the 2015 MBA Financial Literacy Award are Bank of Ann Arbor, Bay Port State Bank, Citizens National Bank, Chemical Bank, Isabella Bank, Sturgis Bank & Trust and Thumb National Bank & Trust Company. The second annual Financial Literacy Innovator Award went to Founders Bank & Trust.

About Michigan Bankers Association
The Michigan Bankers Association (MBA), the voice of the banking industry since 1887, consists of Michigan Financial institutions with more than 2,300 branches located throughout the state. The MBA promotes strong communities and economic activity in Michigan by advancing a positive business environment

 

5-29-2015

ISBA Announces Second Quarter 2015 Dividend

Isabella Bank Corporation (OTCQX:ISBA), announced today that the Board of Directors of the Corporation declared a second quarter cash dividend of $0.23 per share – a 4.55% increase from the second quarter 2014 – at its regular meeting held on May 27, 2015.  The dividend will be payable on June 30, 2015 to shareholders of record as of June 25, 2015.  The closing stock price for ISBA on May 27, 2015 was $22.85.

“Our strong capital position and earnings performance have enabled us to deliver 33 consecutive years of dividend growth to our shareholders,” commented Jae A. Evans, Chief Executive Officer of Isabella Bank Corporation.  “We continue to make strategic investments, such as the recent announcement of our plans to acquire the Midland office of Independent Bank, in order to build on our commitment to delivering long-term value to our customers, shareholders, and communities.”

Based in Mt. Pleasant, Michigan, Isabella Bank Corporation is the bank holding company for Isabella Bank.  Founded in 1903 with a focus on community banking, Isabella Bank operates 27 banking offices in 7 counties including Clare, Gratiot, Isabella, Mecosta, Midland, Montcalm, and Saginaw.

For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com.  Isabella Bank Corporation common stock is quoted on the OTCQX tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.”   The Corporation's market maker is Boenning & Scattergood, Inc. (www.boenninginc.com).

This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in the sections entitled "Risk Factors" and "Forward Looking Statements" set forth in Isabella Bank Corporation's filings with the Securities and Exchange Commission, which are available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.

 

5-19-2015

Isabella Bank to Purchase Midland Branch from Independent Bank

Steven D. Pung, President of Isabella Bank, announced today that Isabella Bank has entered into an agreement with Independent Bank to acquire Independent’s branch located at 210 South Saginaw Road in Midland, Michigan.  The purchase includes a total of approximately $13.76 million in deposits.  Subject to the receipt of regulatory approvals and the satisfaction of customary closing conditions, the branch purchase is expected to close on or before September 1, 2015.

“Since opening our first office in Midland five years ago, we have been very pleased by the level of support we have received from the community.  This strong partnership led to both a physical expansion project and the addition of staff to include a mortgage lender, financial advisor, and business development lender.  This second location will allow us to deepen our roots in the community to better serve both current and new customers,” commented Pung.

Headquartered in Mt. Pleasant, Isabella Bank operates 27 branch locations throughout mid-Michigan and is a wholly owned subsidiary of Isabella Bank Corporation, a community-focused, financial holding company with assets of approximately $1.57 billion.  Total assets under management are $2.26 billion which includes loans sold and serviced, and assets managed by our Investment and Trust Services Department of $685.25 million.    Isabella Bank Corporation’s common stock is traded on the over-the-counter market and is quoted on the OTCQX Banks tier of the OTC Markets Group, Inc.’s electronic quotation system under the symbol “ISBA.”

For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com. Isabella Bank Corporation common stock is quoted on the OTCQX tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.” The Corporation's market maker is Boenning & Scattergood, Inc. (www.boenninginc.com).

Forward-Looking Statements
This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in the sections entitled "Risk Factors" and "Forward Looking Statements" set forth in Isabella Bank Corporation's filings with the Securities and Exchange Commission, which are available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.

 4-23-2015

ISBA Announces First Quarter 2015 Earnings

Jae A. Evans, Chief Executive Officer of Isabella Bank Corporation (OTCQX:ISBA), announced today that the Corporation's first quarter 2015 net income was $3.67 million, with earnings per common share of $0.47.

As of March 31, 2015, total assets increased to $1.57 billion and assets under management grew to $2.26 billion - which includes loans sold and serviced, and assets managed by the Corporation's Investment and Trust Services Department of $685.25 million.  During the quarter, the Corporation paid a $0.23 per common share cash dividend, which represented a 4.55% increase over first quarter 2014.  Based on the Corporation's average stock price of $22.77 for the month of March 2015, the annualized cash dividend yield was 4.04%.

The Corporation's strong earnings have primarily been the result of a reversal in the provision for loan losses based on the continued improvement of various credit quality indicators.  Net loan recoveries during the first quarter of 2015 were $226,000 compared to net loans charged-off of $158,000 in the first quarter of 2014.  Additionally, there continue to be reductions in loans classified as less than satisfactory and total loans past due.  These factors, including a decline in total loans, allowed for a reduction in the level of the allowance for loan losses in both amount and as a percentage of gross loans, resulting in a reversal of the provision for loan losses of $726,000 for the three month period ended March 31, 2015.

Loan portfolio growth continues to be challenging in a market with intense commercial loan competition and soft residential real estate demand.   The Corporation's total loan portfolio declined in the first quarter by $18.11 million, $11.07 million of which was commercial and agricultural loans.  Some of this decline is related to typical seasonal activity by borrowers.  Additionally, the residential real estate and consumer loan portfolios declined by $7.04 million during the quarter.  The Corporation recently added new loan products in the residential real estate portfolio and is actively pursuing opportunities to improve its visibility within the indirect loan market to ensure its positioned to attract new loan opportunities.  

Initiatives in both loans and deposits are designed to attract new customers and retain current customers to improve earnings.  The Corporation recently implemented new electronic deposit services to effectively compete in the market, attract new customers, and provide convenience to existing customers.  The Corporation is committed to increasing earnings and dedicated to providing long term sustainable growth to enhance shareholder value.

As interest rates remain low and are expected to increase only slightly in 2015, net interest income will increase only through growth in loans, investments, and other income earning assets.  In response to the decline in its loan portfolio, the Corporation grew its available-for-sale investment securities portfolio by $37.67 million during the first quarter of 2015 to increase interest income.  While the Corporation's net yield on interest earning assets of 3.37% remains historically low, it has stabilized.

For further information regarding Isabella Bank Corporation, please visit the website at www.isabellabank.com and click on the Investors Tab.

This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in the sections entitled "Risk Factors" and "Forward Looking Statements" set forth in Isabella Bank Corporation's filings with the Securities and Exchange Commission, which are available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.

3-30-2015

King Financial Advisor for Isabella Bank 

Steven D. Pung, President of Isabella Bank, is pleased to announce the addition of Joe King to the Isabella Bank Investment and Trust Services team as a Financial Advisor.  Joe joined Isabella Bank with three years’ experience in the real estate industry.  He graduated from Saginaw Valley State University (SVSU) with a Bachelor’s Degree in Business Administration and a concentration in finance.  As a financial advisor, he will create individual investment plans tailored to meet the unique needs and financial goals of his clients.

He has obtained a General Securities Representative License (Series 7) and a Uniform Combined State Law License (Series 66).  He is also a licensed Life and Health Insurance agent.  In addition to his professional achievements, Joe has a passion for serving his community. He is a member of the Midland Chamber of Commerce, Freeland Chamber of Commerce, United Way of Midland County, and Young Leaders United.  Joe resides in Midland.

About Isabella Bank
Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.22 billion in assets under management.  Isabella Bank has 27 locations throughout 7 mid-Michigan counties and employs more than 375 people.  For the past two years, the company has been recognized on the Detroit Free Press list of “Top 100 Workplaces.”  To learn more, visit any of their 27 convenient locations or www.isabellabank.com. Securities are offered through Raymond James Financial Services, Inc., member FINRA/SIPC, and are not insured by bank insurance, the FDIC or any other government agency, are not deposits or obligations by the bank, are not guaranteed by the bank, and are subject to risks, including the possible loss of principal.  Isabella Bank is independent of Raymond James.

About Raymond James Financial, Inc.
Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations, and municipalities.  Its three principal wholly owned broker-dealers, Raymond James & Associates, Raymond James Financial Services, and Raymond James Ltd., have approximately 6,300 financial advisors serving in excess of 2.6 million client accounts in over 2,600 locations throughout the United States, Canada and overseas.  Total client assets are approximately $483 billion.  Public since 1983, the firm has been listed on the New York Stock Exchange since 1986 under the symbol RJF.  Additional information is available at www.raymondjames.com.

Forward-Looking Statements
Certain statements made in this press release may constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995.  Forward looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions.  In addition, words such as “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates,” “projects,” “forecast,” and future or conditionals verbs such as “will, ‘ “ may,” “could,” “should,” and “would,” as well as any other statement that necessarily depends on future events are intended to identify forward-looking statements.  Forward-looking statements are not guarantees, and they involved risks, uncertainties, and assumptions.  Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements.  We caution investors not to rely unduly on any forward-looking statement and urge you to carefully consider the risk described in your filings with the Securities and Exchange Commission from Time to Time., including our most recent Annual Report on Form 10-K and subsequent Forms 10-Q, which are available on raymondjames.com and the SEC’s website at sec.gov.  We expressly disclaim any obligation to update any forward-looking statement in the event it later turns out to be inaccurate, whether as a results of new information, further events or otherwise. 

 

3-13-2015

Isabella Bank Promotes Eling, Donovan, and Denslow 

Keith Kenney, Division President, Mecosta, announced the promotions of Joshua Eling – Assistant Vice President, Business Development; Felicia Donovan – Branch Manager; and Dee Denslow – Branch Supervisor for the Big Rapids offices.

Joshua Eling
Josh’s primary responsibilities include servicing and enhancing relationships with small and medium businesses in the Mecosta Region with an emphasis in commercial lending.  He received a Bachelor’s degree in accounting from Central Michigan University, a Master in Business Administration from Ferris State University, and is also a graduate from Michigan Bankers Association (MBA) Perry School of Banking.  He joined Isabella Bank in 2009 and has 10 years of banking experience.  He is past president of the Big Rapids Rotary and the Mecosta County Area Chamber of Commerce.  Josh and his wife, Christie, live in Canadian Lakes with their children, Emma and Parker.

Felicia Donovan
Felicia will oversee the day-to-day operations for both Big Rapids offices.  In addition, Felicia is the  Mecosta Division Community Relations Representative.  Since 2007, she has received a certificate for Business Information Systems from Mid-Michigan Community College, completed Isabella Bank’s internal training program – Isabella University, graduated from the Dale Carnegie Team Development Program and completed Isabella Bank’s leadership training.    Felicia is a member of the Big Rapids Jaycees.  She and her two daughters live in Barryton.

Dee Denslow
Dee is responsible for the branch operations of the Big Rapids - East office.  She has her Bachelor’s degree in Psychology from the University of South Carolina and an Associate’s degree from Lansing Community College in Business Administration and sign language.  She started with Isabella Bank in June of 2013.  Dee is an active member of St. Michael’s Church, a volunteer for Special Olympics, Relay for Life, and Feeding America.  She is engaged to be married and lives in the Remus area.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.22 billion in assets under management.  Isabella Bank has 27 locations throughout 7 mid-Michigan counties and employs more than 375 people.  For the past two years, the company has been recognized on the Detroit Free Press list of “Top 100 Workplaces.”  To learn more, visit any of their 27 convenient locations or www.isabellabank.com.

 

3-13-2015

Isabella Bank Honors Top Employees

Isabella Bank held the annual Employee Recognition event in January, honoring seven individuals and two teams.

Individuals presented with the Bank’s “Izzy Awards” were Anna Hill - Barryton, Michelle Davis – Hemlock, Lisa Ferguson – Stanton, Ed Smith – Operations Center, Billie Keith – Farwell, Yvonne Fox – Beal City, and Christine Goffnett – Mt. Pleasant.  They were recognized because of their commitment to exceptional customer service, while keeping in sight the values, goals, and ethical expectations of Isabella Bank.

There were two departments who were chosen as Outstanding Team of the Year.  The two teams were Financial Services and the Courier/Purchasing/Mail department.  The winners were chosen by their peers and supervisors based upon superb customer service, overall contributions to the success of Bank, volunteerism, teamwork and upholding Isabella Bank’s values on a daily basis.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.22 billion in assets under management.  Isabella Bank has 27 locations throughout 7 mid-Michigan counties and employs more than 375 people.  For the past two years, the company has been recognized on the Detroit Free Press list of “Top 100 Workplaces.”  To learn more, visit any of their 27 convenient locations or www.isabellabank.com.

 

2-26-2015

ISBA Announces First Quarter 2015 Dividend

Jae A. Evans, Chief Executive Officer of Isabella Bank Corporation (OTCQX:ISBA), announced today that the Corporation's Board of Directors declared a first quarter cash dividend of $0.23 per share – a 4.55% increase from the first quarter 2014 – at its regular meeting held on February 25, 2015.  The Corporation has recorded 33 consecutive years of dividend growth.  The dividend will be payable on March 31, 2015 to shareholders of record as of March 25, 2015.  The closing stock price for ISBA on February 25, 2015 was $22.90.

For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com.  Isabella Bank Corporation common stock is quoted on the OTCQX tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.”  The Corporation's market maker is Boenning & Scattergood, Inc. (www.boenninginc.com).

 

2-17-2015

ISBA Announces 2014 Earnings

Jae A. Evans, Chief Executive Officer of Isabella Bank Corporation (OTCQX:ISBA), announced today that the Corporation's 2014 net income was $13.72 million, with earnings per common share of $1.77.

Isabella Bank Corporation had another record year for net income which represented an increase of $1.21 million, or 9.70%, over 2013.  With strong financial results, the Corporation was able to pay cash dividends of $0.89 per common share in 2014, marking 33 consecutive years of dividend growth.  The 2014 dividend growth represented a 5.95% increase over 2013.  Based on the Corporation's average stock price of $22.51 for the month of December 2014, the annualized cash dividend yield was 3.95%.

As of December 31, 2014, total assets increased to $1.55 billion, and assets under management - which includes loans sold and serviced, and assets managed by the Corporation's Investment and Trust Services Department of $672.52 million - grew to $2.22 billion.  Total assets and assets under management increased by 3.78% and 3.92% over December 31, 2013, respectively.  Total loans increased by $25.55 million during the year as a result of growth in commercial and agricultural loans of $51.99 million which was partially offset by declines in both residential real estate and consumer loans of $26.44 million.  The demand for residential real estate loans continues to be soft which has resulted in noticeable declines in loan fees and the gain on sale of mortgage loans.

Continued improvements in credit quality indicators resulted in a reduction in the allowance for loan and lease losses in both amount and as a percentage of gross loans, which was 1.21% as of December 31, 2014.  Net loans charged-off during 2014 were $732,000 as compared to $1.55 million in 2013.  The decline in net loans charged-off and continued reduction in loans classified as less than satisfactory resulted in a reversal of the provision for loan losses of $668,000 for the year ended December 31, 2014.  Overall loan performance continued to improve as loans past due ended the year at exceptionally low levels.  As a result, the Corporation's ratio of nonperforming loans to total loans was 0.50% as of December 31, 2014.

For further information regarding Isabella Bank Corporation, please visit the website at www.isabellabank.com and click on the Investors Tab.

This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in the sections entitled "Risk Factors" and "Forward Looking Statements" set forth in Isabella Bank Corporation's filings with the Securities and Exchange Commission, which are available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.

 

2-12-2015

Scoby Promoted to Business Development Officer

Steven D. Pung, President of Isabella Bank, announced the promotion of Paul Scoby to Business Development Officer.  This recognizes Paul’s achievements in servicing and enhancing customer relationships in the Mt. Pleasant area with an emphasis in commercial lending.

Paul began his career with Isabella Bank 14 years ago.  He graduated in 2001 from Central Michigan University (CMU) with a Bachelor of Science degree in Business Administration.  Paul is also a graduate of the Robert M. Perry School of Banking.  He has completed several leadership programs including the Mecosta County Chamber of Commerce’s Leadership Mecosta, the Mt. Pleasant Chamber of Commerce’s Rollie Denison Leadership Institute, and the Dale Carnegie High Impact Leadership Development Program.

In addition to his professional achievements, Paul has a passion for serving his community. He volunteers for a variety of community organizations including Junior Achievement, Mt. Pleasant Chamber of Commerce Ambassador program, and Mt. Pleasant Parks and Recreation sporting activities.  He is a member of the First Baptist Church in Mt. Pleasant where he has served in a number of volunteer capacities.  Paul and his wife, Sarah, live in Mt. Pleasant.  They have two children.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.22 billion in assets under management.  Isabella Bank has 27 locations throughout 7 mid-Michigan counties and employs more than 375 people.  For the past two years, the company has been recognized on the Detroit Free Press list of “Top 100 Workplaces.”  To learn more, visit any of their 27 convenient locations or www.isabellabank.com.

 

2-12-2015

Farrell Promoted to Branch Officer

Keith Kenney, President of Isabella Bank - Mecosta, announced the promotion of Mellissa Farrell to Branch Officer at Canadian Lakes.   Her primary responsibilities will include helping the local community with their personal and mortgage lending needs while overseeing the branch daily operations.

Mellissa joined Isabella Bank in 2003 and has 14 years of banking experience.  She is a graduate of the Robert M. Perry School of Banking, the Dale Carnegie Team Development, and Isabella Bank’s internal training program - Isabella University.  Mellissa is currently attending Ferris State University and the Mecosta County Chamber of Commerce’s Leadership Mecosta.  She was an ““Izzy Award” recipient in 2008 based upon her commitment to exceptional customer service and upholding the values, goals, and ethical expectations of Isabella Bank.

In addition to her professional achievements, Mellissa has a passion for serving her community.  She volunteers for a variety of community events which include Adopt-a-highway for Canadian Lakes, Remus Days children games, helping the local 4-H group, and especially her children’s extra activities when volunteers are needed.  Mellissa resides in Sears with her husband, John, and their three children: Makayla, Mariah and Clay.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.22 billion in assets under management.  Isabella Bank has 27 locations throughout 7 mid-Michigan counties and employs more than 375 people.  For the past two years, the company has been recognized on the Detroit Free Press list of “Top 100 Workplaces.”  To learn more, visit any of their 27 convenient locations or www.isabellabank.com.

 

2-05-2015

Byram Promoted to Assistant Vice President

Richard Russo, President of Isabella Bank Greenville, announced the promotion of Robert (Bob) Byram to Assistant Vice President Business Development.  Bob’s primary responsibilities include servicing and enhancing relationships with small and medium businesses in the Greenville Region with an emphasis in commercial lending.

Bob has 11 years of banking experience which includes business development, commercial lending, branch management, loan and teller processing.  He received his Undergraduate degrees from Northwood University and Montcalm Community College and earned his Masters of Business Administration from Ferris State University (FSU).  He is a graduate of Michigan Bankers Association (MBA) Robert M. Perry School of Banking and the Dale Carnegie Team Development Training.

In addition to his professional achievements, Bob is a Greenville Rotary Club Board Member who received “Rotarian of the Year” in 2014.  He is also a business advisory committee member for Montcalm Community College and the Montcalm Area Career Center.  He also serves as a Board Trustee for the MBA Robert M. Perry School of Banking.

He and his wife, Katrina, live in Greenville with their children, Jordyn and Peyton.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.22 billion in assets under management.  Isabella Bank has 27 locations throughout 7 mid-Michigan counties and employs more than 375 people.  For the past two years, the company has been recognized on the Detroit Free Press list of “Top 100 Workplaces.”  For more information, visit www.isabellabank.com. To learn more, visit any of their 27 convenient locations or www.isabellabank.com.

 

2-04-2015

Turnwald and Gill Promoted to Assistant Vice Presidents

Jae Evans, Chief Executive Officer of Isabella Bank Corporation (ISBA), announced the promotion of Chari Turnwald to Assistant Vice President, BSA/AML and Jennifer Gill to Assistant Vice President, Finance and Reporting.

Chari Turnwald
Chari began working at Isabella Bank in 1999.  Currently in the Compliance Department, her role is to make sure the Bank is compliant with government regulations such as the USA Patriot Act and the Bank Secrecy Act.  Chari received her Bachelor of Science degree in Business Administration from Central Michigan University (CMU), completed the Dale Carnegie Team Development Program, and is a graduate of the Michigan Bankers Association Robert M. Perry School of Banking.  She also received her Compliance certification from the Independent Community Bankers of America.   Chari and her husband live in the Shepherd area and are active members of St. Vincent de Paul Church.  They have three married children and three grandchildren.

Jennifer Gill
Jennifer is responsible for the Corporation’s Securities and Exchange Commission reporting.  She also files the financial information for federal and state taxes.  She joined Isabella Bank in the Accounting Department in 2005 and accepted a position in the Finance and Reporting Department in 2013.  Jennifer has her Bachelor of Science degree in Business Administration with a major in Accounting from CMU and has completed the Dale Carnegie Team Development Program.  Jennifer resides in Mt. Pleasant with her husband, Bryon, and their two children.

For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com.  Isabella Bank Corporation common stock is quoted on the OTCQX tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.”  The Corporation's market maker is Boenning & Scattergood, Inc.

 

1-22-2015

Betts, Gross, and Yuncker Promoted to Vice Presidents

Steven Pung, President of Isabella Bank, is pleased to announce the following promotions: Kim Betts to Vice President, Collections; Tom Gross to Vice President, Business Development; and Sandy Yuncker to Vice President, Customer Service Operations.

Kim Betts
Kim manages the collection functions, activities, and systems for the Bank.  She joined Isabella Bank in 1994 and has 25 years of combined banking experience.  Kim received her paralegal degree from Ferris State University and completed the Dale Carnegie Leadership Program.  She is actively involved in the Lake 13 Association and the Clare School sporting activities as a volunteer.  Kim and her husband, Jamie, enjoy spending time at the lake in Farwell.  They have one daughter.

Tom Gross
Tom is responsible for business development in the central Michigan area.  In 2003, he graduated from Michigan State University with his Bachelor’s degree in Accounting.  He has also completed several Dale Carnegie Leadership Programs.  Tom began at the Bank in 2006 and has acquired 10 years of commercial lending experience.  He is the president for the Mt. Pleasant Rotary and an active member in his church, St. Joseph the Worker in Beal City.  He and his wife, Amanda, live in Beal City with their four children.

Sandy Yuncker
Sandy began her career at Isabella Bank in 1979 in the Customer Service Department and currently manages the Bank’s Customer Service and Electronic and Card Services Departments.  She is a 2015 Michigan Bankers Association (MBA) Perry School of Banking graduate and has completed the Dale Carnegie Leadership Program.   In addition to her professional achievements, Sandy has a passion for serving her community.  She volunteers regularly for local school benefits and the American Red Cross.  Sandy and her husband, Mike, live in the Beal City area.  They have three daughters.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.22 billion in assets under management.  Isabella Bank has 27 locations throughout 7 mid-Michigan counties and employs more than 375 people.  For the past two years, the company has been recognized on the Detroit Free Press list of “Top 100 Workplaces.”  For more information, visit www.isabellabank.com.

 

1-15-2015

House Promoted to Assistant Vice President of Compliance 

Jae Evans, Chief Executive Officer of Isabella Bank Corporation (ISBA), announced the promotion of Adam House to Assistant Vice President of Compliance.  In his new role, Adam will be responsible for the Bank’s compliance with state and federal laws and regulations.  He joined Isabella Bank’s Audit Department in 2011.

He received his Bachelors of Arts degree from Albion College in Economics and Management and has six years of experience in the auditing area.  He obtained his Certified Public Accountant (CPA) license in 2009 and last year he became a Certified Regulatory Compliance Manager (CRCM).  Adam is a graduate of the Dale Carnegie Leadership Development course.

Adam is an active member in our community.  He serves as the treasurer for Isabella County Habitat for Humanity.  He is also the finance director for the Mt. Pleasant Youth Football Board of Directors.  During his free time, Adam is actively involved in his family’s dairy farm.  Adam and his wife, Chelsea, reside in Rosebush.  They are expecting their first child later this year.

For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com.  Isabella Bank Corporation common stock is quoted on the OTCQX tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.”  The Corporation's market maker is Boenning & Scattergood, Inc.

 

1-15-2015

Vogel Promoted to Chief Risk Officer 

Jae Evans, Chief Executive Officer of Isabella Bank Corporation (ISBA), announced the promotion of Amy Vogel to Chief Risk Officer.  In her new role, Amy will be responsible for guiding Isabella Bank’s Risk Management Program.

Amy joined Isabella Bank in 1987 and has 27 years of banking experience.  She has served in numerous capacities throughout the Bank giving her a broad understanding of the Bank’s operations.  In December 2011, Amy received her Bachelor of Science Degree in Business Administration from Northwood University.  She graduated from the Robert Perry School of Banking in May 2008.  Amy has also completed the Dale Carnegie Executive Development Program.

In addition to her professional achievements, Amy has a passion for serving her community. She volunteers for a variety of community organizations including Mt. Pleasant Sports Boosters, Isabella County 4-H Leader, Isabella County Fair Superintendent and Isabella Bank supported functions.  She also serves on the Isabella County Fair Board.  Amy resides in the central Michigan area with her husband, Phil.   They have three daughters.

For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com.  Isabella Bank Corporation common stock is quoted on the OTCQX tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.”  The Corporation's market maker is Boenning & Scattergood, Inc.

 

1-09-2015

Isabella Bank Corporation Announcess Promotion - Patrick Mease

Jae Evans, Chief Executive Officer of Isabella Bank Corporation (ISBA) announced the promotion of Patrick Mease to Vice President of Human Resources.  In his new role, Patrick will serve as the Director of Human Resources.  Patrick joined Isabella Bank in 2001 in the Information Technology Department.

He obtained the Senior Professional in Human Resources (SPHR) designation in 2011.  Patrick received both his Bachelors of Science in Business Administration and his Masters of Science Administration from Central Michigan University.  Patrick has also completed several leadership programs including the Human Resources program through the Graduate School of Banking at the University of Wisconsin, the Dale Carnegie Executive Development Program, and the Rollie Denison Leadership Program.

In addition to his professional achievements, Patrick has a passion for serving his community.  He is an active member of the Mt. Pleasant Optimist Club and volunteers for the Community Advisory Board for the Salvation Army.  Patrick resides in Mt. Pleasant with his wife, Michelle, and their two children; Grace and Sam.

For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com.  Isabella Bank Corporation common stock is quoted on the OTCQX tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.”  The Corporation's market maker is Boenning & Scattergood, Inc.

 

12-23-2014

Eversole Retires from Isabella Bank Corporation

Jae Evans, Chief Executive Officer of Isabella Bank Corporation (ISBA), announced Dan Eversole, Senior Vice President of Human Resources, will retire at the end of the year.

Dan joined Isabella Bank in 2006.  He earned his Bachelor of Science degree from Eastern Michigan University and his Master of Arts degree from Central Michigan University.  While at Isabella Bank, he was instrumental in enhancing the employee recognition program and creating the annual bank-wide day of customer service training as well as several leadership development programs.  His passion for serving others also extends into the community.  In 2014, Dan was recognized by the United Way of Isabella County for his contributions to the community when he received the Quality of Life award.  He is the current Chair for Mid-Michigan Industries, an executive board member for the Mt. Pleasant Area Community Foundation and the personnel committee chair and the past president of the Congregation of Immanuel Lutheran Church.  Dan and his wife, Jan, reside in the Lake Mecosta area.

“Dan has served our employees, board, and community with the highest integrity.  His example of being a servant leader will leave a positive impact throughout our organization for many years,” said Jae Evans, Chief Executive Officer.

For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com.  Isabella Bank Corporation common stock is quoted on the OTCQX tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.”  The Corporation's market maker is Boenning & Scattergood, Inc.

 

12-12-2014

Bramer Joins Isabella Bank as New Commercial Lender

Tim Miller, Division President of Isabella Bank – Breckenridge, is pleased to welcome Marisa Bramer to the agricultural/commercial lending team.  Marisa’s main responsibilities will be to serve Breckenridge and the surrounding communities with their agricultural and commercial lending needs.

Marisa joins Isabella Bank with both agricultural lending and credit underwriting experience.  She earned her undergraduate degree from Michigan State University and graduated from the Michigan Farm Bureau ProFILE Leadership Program.  Marisa is the promotion and education chair for Gratiot County Farm Bureau, coordinates the “Hoofing It for Ag 5K race”, is a lector at St. Mary’s Catholic Church and a member of the Agricultural Advisory Committee at Montcalm Community College.  Marisa and her husband, Scott, reside in Middleton with their daughter.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.22 billion in assets under management.  Isabella Bank has 27 locations throughout 7 mid-Michigan counties and employs more than 375 people.  In 2013, Isabella Bank invested over $639,000 in the communities they serve by providing monetary support for financial literacy tools, affordable housing programs, basic needs, and economic development throughout their market areas.  To learn more, visit any of their 27 convenient locations or www.isabellabank.com.

 

12-02-2014

ISBA Announces Fourth Quarter 2014 Dividend

Jae A. Evans, Chief Executive Officer of Isabella Bank Corporation (OTCQX:ISBA), announced today that the Corporation's Board of Directors declared a fourth quarter cash dividend of $0.23 per share – a 4.55% increase from the previous quarter and a 9.52% increase from the fourth quarter 2013 – at its regular meeting held on November 26, 2014.  The Corporation has recorded more than 30 consecutive years of dividend growth.  The dividend will be payable on December 31, 2014 to shareholders of record as of December 22, 2014.  The closing stock price for ISBA on November 26, 2014 was $22.45.

The Corporation’s subsidiary, Isabella Bank, was recently awarded and recognized as a top-performing bank by the Independent Community Bankers of America in their annual “Best of the Best” listing.  Isabella Bank ranked in the top 25 for 2013 return on equity for financial institutions with assets over $1 billion.

For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com.  Isabella Bank Corporation common stock is quoted on the OTCQX tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.”  The Corporation's market maker is Boenning & Scattergood, Inc.

This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in Isabella Bank Corporation's annual report on Form 10-K for the year ended December 31, 2013 and Form 10-Q for the quarter ended September 30, 2014, which are or will be available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.

 

11-06-2014

Davis Joins Isabella Bank as New Trust Officer

Steven Pung, President of Isabella Bank, is pleased to welcome Mike Davis as Trust Officer to the Investment & Trust Services Team.  In his new role, Mike will be responsible for business development for the Investment & Trust Services department, estate planning, and providing trust services.

Prior to joining Isabella Bank, Mike owned his own insurance agency for 15 years.  He also brings with him 17 years of banking experience.  He holds Series 6 and 63 investment licenses and is licensed in property, casualty, and life insurance.  Mike earned his undergraduate and graduate degrees from Central Michigan University.

Mike and his wife, Cheryl, reside in Rosebush.  They have four children and five grandchildren.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.22 billion in assets under management.  Isabella Bank has 27 locations throughout 7 mid-Michigan counties and employs more than 375 people.  In 2013, Isabella Bank invested over $639,000 in the communities they serve by providing monetary support for financial literacy tools, affordable housing programs, basic needs, and economic development throughout their market areas.  To learn more, visit any of their 27 convenient locations or www.isabellabank.com.

 

10-23-2014

ISBA Announces Third Quarter 2014 Earnings

Jae A. Evans, Chief Executive Officer of Isabella Bank Corporation (OTCQX:ISBA), announced today that the Corporation's third quarter 2014 net income was $3.41 million and $10.28 million, or  $0.44 and $1.33 per common share, in the three and nine month periods ended September 30, 2014, respectively.

As of September 30, 2014, total assets increased to $1.55 billion, and assets under management - which includes loans sold and serviced, and assets managed by the Corporation's Investment and Trust Services Department of $665.58 million - grew to $2.22 billion.  During the quarter, the Corporation paid a $0.22 per common share cash dividend, which represented a 4.76% increase over the third quarter of 2013.  The Corporation has recorded more than 30 consecutive years of dividend growth.  Based on the Corporation's average stock price of $23.53 for the month of September 2014, the annualized cash dividend yield was 3.74%.

Continued improvements in a variety of credit quality indicators have resulted in a reversal of provision for loan losses of $604,000 for the nine month period ended September 30, 2014.  This provision reversal, along with an increase in gross loans, led to a reduction in the allowance for loan and lease losses in both amount and as a percentage of gross loans.  Net loans charged-off during the first nine months of  2014 were $496,000 as compared to $1.20 million in the first nine months of 2013.  Additionally, there has been a continued reduction in loans classified as less than satisfactory.  While net loans charged-off and the overall level of loans classified as less than satisfactory have declined, nonaccrual loans have increased since December 31, 2013.  This increase was primarily the result of one loan, which is well collateralized and closely monitored by management.

While competition for high quality commercial loans continues to be intense, the Corporation was able to grow its commercial loan portfolio in the first nine months of 2014 by $24.72 million without relaxing underwriting standards.  The growth in commercial and agricultural loans was partially offset by declines in both residential real estate loans of $18.90 million and consumer loans of $0.77 million, resulting in a net increase in total loans of $14.26 million for the year.  The lack of demand for residential real estate loans continues to result in noticeable declines in loan fees and the gain on sale of mortgage loans.

For further information regarding Isabella Bank Corporation, please visit the website at www.isabellabank.com and click on the Investors Tab.

This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in Isabella Bank Corporation's annual report on Form 10-K for the year ended December 31, 2013 and Form 10-Q for the quarter ended September 30, 2014, which are or will be available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.

 

9-4-2014

Three Graduate from the Graduate School of Banking at University of Wisconsin-Madison

Steven Pung, President of Isabella Bank, is pleased to announce the graduation of Andrew Martin – senior credit analyst, Erika Ross – vice president, marketing and Aaron Wirsing, vice president, finance and reporting, from the prestigious Graduate School of Banking at the University of Wisconsin – Madison.  The School was established in 1945 to provide bankers with an opportunity for advanced study and research in banking, economics, and leadership.

Andrew’s primary responsibilities include supporting the commercial lending function through underwriting and analysis.  He has been with Isabella Bank since 2011.  Andrew is a graduate of Northwood University with a Masters of Business Administration, the Perry School of Banking, and the Dale Carnegie Executive High Impact Leadership Program.  He serves as a trustee for the United Way of Isabella County and treasurer for the Optimist Club of Mt. Pleasant.  He is a former trustee for the Michigan Bankers Association Perry School of Banking.  Andrew resides in Clare.

Erika’s primary responsibilities include overseeing the day-to-day operations of the marketing department.  Erika has been with Isabella Bank since 2005.  Erika is a graduate of Central Michigan University, the Dale Carnegie Executive Leadership Program, and the Rollie Denison Leadership Program.  She is actively involved in Junior Achievement, the Ganiard Elementary PTO, and the Michigan Bankers Association Marketing Committee.  Erika and her husband, Brian, reside in Mount Pleasant with their two sons, Wyatt and Ben.

Aaron’s primary responsibilities include overseeing the day-to-day operations of the finance and reporting department.  He has been with Isabella Bank since 2003.  Wirsing is a graduate of Saginaw Valley State University and the Dale Carnegie Executive High Impact Leadership Program.  Wirsing serves as chair for the Habitat for Humanity of Isabella County board and is a member of the Michigan Bankers Association Grassroots Advocacy Committee.  He is a member of the Zion Lutheran Church in Mt. Pleasant.  Aaron and his wife, Kate, reside in Mt. Pleasant with their children, Luke and Elle.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.19 billion in assets under management.  Isabella Bank has 27 locations throughout 7 mid-Michigan counties and employs more than 375 people.  In 2013, Isabella Bank invested over $639,000 in the communities they serve by providing monetary support for financial literacy tools, affordable housing programs, basic needs, and economic development throughout their market areas.  To learn more, visit any of their 27 convenient locations or www.isabellabank.com.

8-29-2014

ISBA Announces Third Quarter 2014 Dividend

Jae A. Evans, Chief Executive Officer of Isabella Bank Corporation (OTCQX:ISBA), announced today that the Corporation's Board of Directors declared a third quarter cash dividend of $0.22 per share – a 4.76% increase from third quarter 2013 – at its regular meeting held on August 27, 2014.  The Corporation has recorded more than 30 consecutive years of dividend growth.  The dividend will be payable on September 30, 2014 to shareholders of record as of September 25, 2014.  The closing stock price for ISBA on August 27, 2014 was $22.25.

For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com.  Isabella Bank Corporation common stock is quoted on the OTCQX tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.”  The Corporation's market maker is Boenning & Scattergood, Inc.

 

8-21-2014

Huber Promoted to Chief Technology Officer

Jae Evans, Chief Executive Officer, Isabella Bank Corporation (ISBA), is pleased to announce the promotion of Julie Huber to Vice President, Chief Technology Officer.  In her new role, she will oversee the technology operations of the Bank and the corporation.

Julie has been with Isabella Bank 31 years and is certified in the Governance of Enterprise Information Technology.  She is a graduate of Central Michigan University, the Perry School of Banking, and the Dale Carnegie Executive Development Program.  Julie currently serves on several bank software related boards.  Julie has two grown children and resides in Mount Pleasant.

For further information regarding Isabella Bank Corporation, please visit the website at www.isabellabank.com and click on the Investors Tab.

 

8-15-2014

ISBA Announces Launch to the OTCQX Marketplace

Jae A. Evans, Chief Executive Officer of Isabella Bank Corporation (OTCQX:ISBA), announced today that the Corporation will be traded on the OTCQX marketplace effective August 15, 2014.  The OTCQX tier is the best marketplace operated by OTC Markets Group Inc.  The move from the OTCQB marketplace to the OTCQX marketplace will increase the Corporation's national visibility to potential investors, which is believed to enhance shareholder value.

OTCQX for banks, an expansion of the OTCQX marketplace, is specifically designed to meet the unique needs of financial institutions, like the Corporation, that are established, well-managed, and strongly capitalized.  The OTCQX marketplace is designed for investor-focused companies to provide visibility, transparency, and a beneficial shareholder experience.  The Corporation is eligible for the OTCQX marketplace because it meets OTC Market Group's high financial standards, is current with all disclosures required by the Securities and Exchange Commission and its banking regulators, is compliant with security laws, and has arranged to be sponsored by a corporate broker, a FINRA member broker-dealer specializing in trading bank stocks.  The Corporation has enlisted Boenning & Scattergood, Inc., a nationally recognized firm specializing in securities of community banks, to serve as its corporate broker and furthermore, its corporate market maker.  This relationship, coupled with the advancement to OTCQX for banks, is believed to expand the Corporation's market to enhance shareholder value over the long-term in addition to increasing the liquidity of its stock.

For further information regarding Isabella Bank Corporation, please visit the website at www.isabellabank.com and click on the Investors tab.

This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in Isabella Bank Corporation's annual report on Form 10-K for the year ended December 31, 2013 and Form 10-Q for the quarter ended June 30, 2014, which are available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.

 

8-08-2014

Mapes Promoted to Vice President, Deposit Administration

Steven Pung, President of Isabella Bank, is pleased to announce the promotion of Greg Mapes to Vice President, Deposit Administration.  In his new role, he will oversee the day-to-day management of the Financial Services Department as well as the deposit growth initiatives for the Bank.

Greg has 15 years of banking experience.  He is a graduate of Central Michigan University, the Graduate School of Banking at the University of Wisconsin – Madison, and the Dale Carnegie Executive Development Program.  He is President of the Michigan Masonic Home Board of Trustees and Vice-Mayor of the City of Alma.  Greg serves as a board member of the Gratiot County Habitat for Humanity and the Alma United Methodist Church.  He is also a member of the Greater Gratiot Development, Michigan Bankers Association Financial Management Committee, and the Alma Masonic Lodge.  Greg and his wife, Lee, reside in Alma.  They have three grown children, Kelsey, Kallei, and Kyle.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.19 billion in assets under management.  Isabella Bank has 27 locations throughout 7 mid-Michigan counties and employs more than 375 people.  In 2013, Isabella Bank invested over $639,000 in the communities they serve by providing monetary support for financial literacy tools, affordable housing programs, basic needs, and economic development throughout their market areas.  To learn more, visit any of their 27 convenient locations or www.isabellabank.com.

 

7-24-2014

ISBA Announces Second Quarter 2014 Earnings

Jae A. Evans, Chief Executive Officer of Isabella Bank Corporation (OTCQB:ISBA), announced today that the Corporation's second quarter 2014 net income was $3.57 million as compared to $3.21 million for the second quarter of 2013.  Net income for the first six months of 2014 and 2013 was $6.87 million and $6.30 million, respectively.  Earnings for the three and six months ended June 30, 2014 represented record earnings for the Corporation.  In addition to record earnings, the Corporation also posted record earnings per common share of $0.46 and $0.89 in the three and six month periods ended June 30, 2014, respectively.

As of June 30, 2014, total assets increased to $1.52 billion, and assets under management - which included loans sold and serviced, and assets managed by the Corporation's Investment and Trust Services Department of $664.68 million - grew to $2.19 billion.  During the second quarter of 2014, the Corporation paid a $0.22 per common share cash dividend, which represents a 4.76% increase when compared to the same period in 2013. Based on the Corporation's average stock price of $22.83 for the month of June 2014, the annualized cash dividend yield was 3.85%.

The primary driver for the increase in net income was an improvement in various credit quality indicators.  These improvements continue to drive declines in the level of the allowance for loan and lease losses in both amount and as a percentage of gross loans, resulting in a reversal of provision for loan losses of $442,000 for the six month period ended June 30, 2014.  Net loans charged-off during the first six months of 2014 were $358,000 as compared to $751,000 in the first six months of 2013.  Additionally, we continue to see reductions in loans classified as less than satisfactory.  While we experienced reductions in net loans charged-off and in the level of loans classified as less than satisfactory, nonperforming loans have increased since December 31, 2013.  This increase was primarily the result of two loans, which are well collateralized and closely monitored by management.

While competition for high quality commercial loans continues to be intense, the Corporation was able to grow its commercial loan portfolio in the first six months of 2014 by $15.69 million without relaxing underwriting standards.  This growth was partially offset by declines in both residential real estate loans of $11.39 million and consumer loans of $1.10 million, resulting in a net increase in total loans of $8.27 million for the period.  The lack of demand for residential real estate loans continues to result in noticeable declines in loan fees and the gain on sale of mortgage loans.

For further information regarding Isabella Bank Corporation, please visit the website at www.isabellabank.com and click on the Investors Tab.

This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in Isabella Bank Corporation's annual report on Form 10-K for the year ended December 31, 2013 and Form 10-Q for the quarter ended June 30, 2014, which are or will be available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.

 

7-17-2014

Jacobs Promoted to Financial Advisor

Steven Pung, President of Isabella Bank, is pleased to announce the addition of Shaun Jacobs to the Isabella Bank Investment and Trust Services team as a Financial Advisor.  Shaun joined Isabella Bank in 2012 and is a graduate of Central Michigan University.  As a financial advisor, he will create individual investment plans tailored to meet the unique needs and financial goals of his clients.  Shaun and his wife, Kristen, reside in Mt. Pleasant with their daughter.

About Isabella Bank
Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.16 billion in assets under management.  Isabella Bank has 27 locations throughout 7 mid-Michigan counties and employs more than 375 people.  In 2013, Isabella Bank invested over $639,000 in the communities they serve by providing monetary support for financial literacy tools, affordable housing programs, basic needs, and economic development throughout their market areas.  To learn more, visit any of their 27 convenient locations or www.isabellabank.com.  Securities are offered through Raymond James Financial Services, Inc., member FINRA/SIPC, and are not insured by bank insurance, the FDIC or any other government agency, are not deposits or obligations by the bank, are not guaranteed by the bank, and are subject to risks, including the possible loss of principal.  Isabella Bank is independent of Raymond James.

About Raymond James Financial, Inc.
Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations, and municipalities.  Its three principal wholly owned broker-dealers, Raymond James & Associates, Raymond James Financial Services, and Raymond James Ltd., have approximately 6,200 financial advisors serving in excess of 2.5 million client accounts in approximately 2,500 locations throughout the United States, Canada and overseas.  Total client assets are approximately $464 billion.  Public since 1983, the firm has been listed on the New York Stock Exchange since 1986 under the symbol RJF.  Additional information is available at www.raymondjames.com.

Forward-Looking Statements
Certain statements made in this press release may constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995.  Forward looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions.  In addition, words such as “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates,” “projects,” “forecast,” and future or conditionals verbs such s “will, ‘ “ may,” “could,” “should,” and “would,” as well as any other statement that necessarily depends on future events are intended to identify forward-looking statements.  Forward-looking statements are not guarantees, and they involved risks, uncertainties, and assumptions.  Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements.  We caution investors not to rely unduly on any forward-looking statement and urge you to carefully consider the risk described in your filings with the Securities and Exchange Commission from Time to Time., including our most recent Annual Report on Form 10-K and subsequent Forms 10-Q, which are available on raymondjames.com and the SEC’s website at sec.gov.  We expressly disclaim any obligation to update any forward-looking statement in the event it later turns out to be inaccurate, whether as a results of new information, further events or otherwise.

6-26-2014

Wallace Promoted to Senior Vice President of Retail Lending

Steven Pung, President of Isabella Bank, is pleased to announce the promotion of Tom Wallace to Senior Vice President of Retail Lending.  In his new role, he will oversee both the residential mortgage and consumer loan operations of the Bank.

Tom has been with Isabella Bank 20 years and is a graduate of Ferris State University, the Graduate School of Banking at University of Wisconsin, and Dale Carnegie Executive Training.  Tom is a board member for Junior Achievement and Central Michigan Pregnancy Services, treasurer at Central Assembly of God, coaches little league, and volunteers at Ganiard Elementary.  Tom and his wife, Leigh, reside in Mount Pleasant.  They have five children and two grandchildren.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.16 billion in assets under management.  Isabella Bank has 27 locations throughout 7 mid-Michigan counties and employs more than 375 people.  In 2013, Isabella Bank invested over $639,000 in the communities they serve by providing monetary support for financial literacy tools, affordable housing programs, basic needs, and economic development throughout their market areas.  To learn more, visit any of their 27 convenient locations or www.isabellabank.com.

 

6-19-2014

Isabella Bank welcomes Tracey Ruff as Commercial Lender

Steven Pung, President of Isabella Bank, is pleased to welcome Tracey Ruff.  Tracey’s main responsibilities will be to serve the Midland community and surrounding areas with their commercial lending needs.

Tracey brings with her 20 years of commercial and retail lending experience.  She graduated from Bakers College with an Associate degree in Accounting and Bachelor degree in Finance.  Tracey is an active member and volunteer at the Faith Lutheran Church and School in Bay City.  Tracey and her husband, Bill, reside in Bay City with their son.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.16 billion in assets under management.  Isabella Bank has 27 locations throughout 7 mid-Michigan counties and employs more than 375 people.  In 2013, Isabella Bank invested over $639,000 in the communities they serve by providing monetary support for financial literacy tools, affordable housing programs, basic needs, and economic development throughout their market areas.  To learn more, visit any of their 27 convenient locations or visit www.isabellabank.com

 

6-12-2014

Welsh Promoted to Pickard Branch Manager

Steve Pung, President of Isabella Bank, is pleased to announce the promotion of Mary Welsh to Branch Manager.  Mary’s main responsibilities will include overseeing the Pickard branch operations and servicing their consumer loan needs.  She has 30 years of banking experience.  Mary is a graduate of the Dale Carnegie Team Development Process and Isabella Bank’s leadership training.  She has received several internal customer service awards including the Isabella Bank Izzy Award and Team of the Year Award.  Mary is an active volunteer in the Mt. Pleasant community and the Leaton United Methodist Church.  Mary has four children and four grandchildren.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.16 billion in assets under management.  Isabella Bank has 27 locations throughout 7 mid-Michigan counties and employs more than 375 people.  In 2013, Isabella Bank invested over $639,000 in the communities they serve by providing monetary support for financial literacy tools, affordable housing programs, basic needs, and economic development throughout their market areas.  To learn more, visit any of their 27 convenient locations or visit www.isabellabank.com

 

6-12-2014

Isabella Bank MBA Perry School Graduates

Steven Pung, President of Isabella Bank, is pleased to announce the graduation of Mari Kay Bleeker, Bob Byram, and Michele O’Brien, from the prestigious Michigan Bankers Association (MBA) Perry School of Banking.  Established in 1976, the MBA Perry School of Banking has a mission to serve the banking industry of Michigan with in-depth and long-term continuing education programs developed by the MBA Perry Board of Trustees and alumni.

Mari Kay has been with Isabella Bank since 2006 and currently serves as a Financial Services Representative in Mt. Pleasant.  Mari Kay is a graduate of the Dale Carnegie Team Development Program, Isabella Bank leadership training, and the American Bankers Association Principles of Banking Course.  She is a member of the Big Rapids Jaycees.  Mari Kay and her husband, Chad, reside in the Remus area with their two sons.

Bob has been with Isabella Bank since 2004 and currently works in business development.  Bob earned his Masters of Business Administration from Ferris State University.  He is a board member of the Montcalm Community College business advisory committee, Heart of Montcalm chamber of commerce, and Greenville Rotary Club.  Bob and his wife, Katrina, reside in Greenville with their two daughters.

Michele has been with Isabella Bank since 2008 and currently works in the mortgage-processing department.  Michele is a graduate of Ferris State University and the Dale Carnegie Team Development Program.  She is a member of the Home Builders Association of Midland and the Midland Association of Realtors.  Michele and her husband, Adam, reside in Mt. Pleasant with their daughter.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.16 billion in assets under management.  Isabella Bank has 27 locations throughout 7 mid-Michigan counties and employs more than 375 people.  In 2013, Isabella Bank invested over $639,000 in the communities they serve by providing monetary support for financial literacy tools, affordable housing programs, basic needs, and economic development throughout their market areas.  To learn more, visit any of their 27 convenient locations or visit www.isabellabank.com

 

5-29-2014

ISBA Announces Second Quarter 2014 Dividend

Jae A. Evans, Chief Executive Officer of Isabella Bank Corporation (ISBA), announced today that the Corporation's Board of Directors declared a second quarter cash dividend of $0.22 per share – a 4.76% increase from second quarter 2013 – at its regular meeting held on May 28, 2014.  The dividend will be payable on June 30, 2014 to shareholders of record as of June 25, 2014.  The closing stock price for ISBA on May 28, 2014 was $22.77.

For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com.  Isabella Bank Corporation common stock is quoted on the OTCQB tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.”

 

4-24-2014

ISBA Announces First Quarter 2014 Earnings

Jae A. Evans, Chief Executive Officer of Isabella Bank Corporation (OTCQB:ISBA), announced today that the Corporation's first quarter 2014 net income was $3.31 million as compared to $3.09 million for the first three months of 2013.  As of March 31, 2014, total assets increased to $1.51 billion, and assets under management - which included loans sold and serviced, and assets managed by the Corporation's Investment and Trust Services Department of $651.19 million - grew to $2.16 billion.  During the quarter, the Corporation paid a $0.22 per share cash dividend, which represents a 4.76% increase when compared to the same period in 2013.  Based on the Corporation's average stock price of $23.68 for the month of March 2014, the annualized cash dividend yield was 3.72%.

The primary driver for the increase in net income was an improvement of various credit quality indicators.  These improvements resulted in declines in the level of the allowance for loan and lease losses in both amount and as a percentage of gross loans, and a reversal of provision for loan losses of $242,000.  During the first quarter of 2014, net loans charged-off declined to $158,000 which represented the Corporation's lowest quarterly charge-offs since the first quarter of 2007.  Additionally, the Corporation continues to see reductions in loans classified as less than satisfactory.  While there have been improvements in net loans charged-off and reductions in the level of loans classified as less than satisfactory, nonperforming loans increased during the quarter.  This increase was primarily the result of three loans, all of which are well collateralized and closely monitored by management.

While competition for high quality commercial loans continues to be intense, the Corporation was able to increase commercial loans during the quarter by $7.60 million without relaxing underwriting standards.  This growth was partially offset by declines in both residential real estate loans of $5.35 million and consumer loans of $1.35 million, resulting in a net increase in gross loans of $374,000.  The decline in residential real estate loans was the result of an overall nationwide decline in mortgage refinancing and originations.  The lack of demand for residential real estate loans has also led to noticeable declines in loan fees and a corresponding decline in the net yield on interest earning assets.  Despite the relatively small net increase in loans during the quarter, the Corporation generated additional interest income through the purchases of available-for-sale investment securities, which were funded by increases in deposit accounts.

For further information regarding Isabella Bank Corporation, please visit the website at www.isabellabank.com and click on the Investors Tab.

This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in Isabella Bank Corporation's annual report on Form 10-K for the year ended December 31, 2013 and Form 10-Q for the quarter ended March 31, 2014, which are or will be available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.

 

2-27-2014

ISBA Announces First Quarter Dividend

Jae A. Evans, Chief Executive Officer of Isabella Bank Corporation (ISBA), announced today that the Corporation's Board of Directors declared a first quarter cash dividend of $0.22 per share, a 4.76% increase from first quarter 2013, at its regular meeting held on February 26, 2014.  The dividend will be payable on March 31, 2014 to shareholders of record as of March 26, 2014.  The closing stock price for ISBA on February 26, 2014 was $23.80.
 

For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com.  Isabella Bank Corporation common stock is quoted on the OTCQB tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.”.

 

2-20-2014

Isabella Bank Honors Top Employees

Isabella Bank recognized eight individuals and two teams at their annual Employee Recognition event on January 25, 2014.

During the themed evening, eight individuals received the prestigious “Izzy Award” based upon their commitment to exceptional customer service, while upholding the values, goals and ethical expectations of Isabella Bank.  The following employees received the 2014 Izzy Award:  Vickie Dysinger – Farwell, Donna Garrett – West High, Jill Goodfellow – Mecosta, Rechelle Richardson – Administration, Joann Sanders – Breckenridge, Carrie Smith – Mortgages, Kathy Tatro – Item Processing and Tracy Zayler – Stanton.

Two departments were chosen as Outstanding Teams of the Year.  The two teams were Branch Administration and the Hemlock office.  These two teams were nominated by their peers and supervisors based upon superior customer service by their entire department and their contributions to the overall success of the Bank, volunteerism, teamwork and living Isabella Bank’s values on a daily basis.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.11 billion in assets under management.  To learn more about Isabella Bank, visit any of their 27 convenient locations throughout mid-Michigan or the company website at www.isabellabank.com.

 

2-13-2014

ISBA Announces 2013 Earnings

Jae A. Evans, Chief Executive Officer of Isabella Bank Corporation (OTCQB:ISBA), announced today that the Corporation's 2013 net income was $12.51 million.  During 2013, the Corporation paid total cash dividends of $0.84 per share, which represented a 5.00% increase over 2012.  Based on the Corporation's average stock price of $22.45 for the month of December 2013, the annualized cash dividend yield was 3.74%.

The Corporation's earnings of $12.51 million were a record and represented an increase of $304,000 from 2012.  Additionally, the Corporation enjoyed year over year loan growth of $35.28 million and a continued improvement in credit quality indicators.  As of December 31, 2013, total assets were $1.49 billion, and assets under management - which included loans sold and serviced, and assets managed by the Investment and Trust Services Department of $645.09 million - were $2.14 billion, which was a 4.13% increase over December 31, 2012.

While competition for high quality loans has been intense, the Corporation has not relaxed its underwriting standards and remains committed to core community banking principles and long term sustainable growth.  The Corporation's loan quality remains sound as evidenced by the relatively low percentage of loans classified as nonperforming.  As of December 31, 2013, the Corporation's ratio of nonperforming loans to total loans was 0.42% as compared to 1.71% for its peer group as of September 30, 2013 (peer group ratios are not yet available for December 31, 2013).  In addition, the Corporation's risk based capital to risk adjusted total assets ratio of 14.92% as of December 31, 2013 compares favorably to the 8.00% ratio required to be classified as adequately capitalized under the Federal Reserve Board's risk based capital rules.

For further information regarding Isabella Bank Corporation, please visit the website at www.isabellabank.com and click on the Investors Tab.

This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in Isabella Bank Corporation's annual report on Form 10-K for the year ended December 31, 2012 and Form 10-Q for the quarter ended September 30, 2013, which are or will be available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.

 

2-07-2014

Isabella Bank Promotions

Steven Pung, President of Isabella Bank, is pleased to announce the following promotions.

Sara Scholer – Assistant Vice President, Branch Administration

Leslie Thielen – Assistant Vice President, Consumer Loans

Scholer’s primary responsibilities include working with managers and supervisors on branch operations.  She has been with Isabella Bank since 1998.  Sara graduated from the Dale Carnegie Team Development Training, Leadership Montcalm, and Isabella Bank Leadership Training.  Sara and her husband, Tom, reside in Vestaburg with their son.

Thielen’s primary responsibilities include assisting customers with their consumer and mortgage lending needs.  She has been with Isabella Bank since 2004.  Leslie graduated from Central Michigan University, Perry School of Banking, and the Dale Carnegie Team Development Program.  She is a member of the Home Builders Association of Central Michigan, Home Builders Association Women’s Council, and the Central Michigan Association of Realtors.  Leslie and her husband, Ben, reside in Mount Pleasant with their three children.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.11 billion in assets under management.  To learn more about Isabella Bank, visit any of our 27 convenient locations throughout mid-Michigan or the website at www.isabellabank.com.

2-03-2014

Matthews Joins Isabella Bank as Vice President of Commercial Loan Administration

Steven Pung, President of Isabella Bank, is pleased to welcome Greg Matthews.  Greg’s main responsibilities will include overseeing the credit, commercial loan documentation, and appraisal review departments.  Greg will also assist with the administration of the commercial loan policy.

Greg earned his Bachelor of Science of Administration degree from Saginaw Valley State University and graduated from Louisiana State University Graduate School of Banking.  He has 27 years of credit, lending and underwriting experience.  Greg and his wife, Charlene, reside in Mount Pleasant.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.11 billion in assets under management.  To learn more about Isabella Bank, visit any of our 27 convenient locations throughout mid-Michigan or the website at www.isabellabank.com.

1-24-2014

DeNoyelles' Promoted to Vice President, Investment & Trust Services

Steven Pung, President of Isabella Bank, is pleased to announce the promotion of Mark DeNoyelles to Vice President, Investment & Trust Services.

DeNoyelles’ primary responsibilities include overseeing the Investment & Trust Services Department.  Mark joined Isabella Bank in 2011 after owning an insurance agency for over 30 years.  He holds Series 6 and 63 investment licenses and is licensed in property, casualty, life, and health insurance.  Mark graduated from Central Michigan University and the Dale Carnegie Leadership Program.  He is a member of the Mt. Pleasant Area Chamber of Commerce, Sacred Heart Parish, Junior Achievement, and coaches Sacred Heart Basketball.  Mark and his wife, Sandy, reside in Mt. Pleasant.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.11 billion in assets under management.  To learn more about Isabella Bank, visit any of our 27 convenient locations throughout mid-Michigan or the website at www.isabellabank.com.

1-3-2014

Sherwood Joins Isabella Bank Breckenridge Division Board

Tim Miller, President of Isabella Bank – Breckenridge, is pleased to announce the election of Jeff Sherwood to the Isabella Bank Breckenridge Division Board of Directors.

Mr. Sherwood is a partner in Sherwood Farms, LLC, a 3600 acre cash crop business.  Jeff and his brother, Al, farmed with their father for 22 years until their father’s retirement five years ago.  Jeff has been very active in the agricultural community for several years.  Jeff currently serves on the Bethany Township Board of Appeals.  He has also served on the B&W Co-Op Board.  Jeff and his wife, Judy, reside in St. Louis.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.11 billion in assets under management.  To learn more about Isabella Bank, visit any of our 27 convenient locations throughout mid-Michigan or the website at www.isabellabank.com.

12-6-2013

Huff Promoted to Barryton Branch Manager

Keith Kenney, President of Isabella Bank – Mecosta, is pleased to announce the promotion of Debbi Huff to Branch Manager of Barryton.

Debbi’s main responsibilities include helping the local community with their personal and business lending needs and overseeing the branch operations.  She has 21 years of banking experience.  Debbi is a graduate of Dale Carnegie Team Development Process and several internal training programs including Supervisory Leadership Class and Isabella University.  She serves as treasurer for the Barryton Area Historical Commission and is a member of Faith United Methodist Church.  Debbi and her husband, Harold, reside in Barryton.  They have five children.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.11 billion in assets under management.  To learn more, visit any of our 27 convenient locations throughout mid-Michigan or the company website at www.isabellabank.com.

12-6-2013

Dole Joins Isabella Bank as Mortgage Lender

Steven Pung, President of Isabella Bank, is pleased to welcome Christine Dole as a Mortgage Lender in the Midland area.

Christine has been in the financial industry for over 24 years, and has been in the mortgage area for the past 15 years.  She looks forward to getting involved in the Home Builders Association of Midland and the Midland Association of Realtors. Christine and her family reside in the Auburn area.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.11 billion in assets under management.  To learn more, visit any of our 27 convenient locations throughout mid-Michigan or the company website at www.isabellabank.com.

11-27-2013

ISBA Announces Fourth Quarter 2013 Dividend

Richard Barz, Chief Executive Officer of Isabella Bank Corporation (ISBA), announced today that the Corporation's Board of Directors declared a fourth quarter cash dividend of $0.21 per share – a 5.00% increase from fourth quarter 2012 – at its regular meeting held on November 27, 2013. The dividend will be payable on December 31, 2013 to shareholders of record as of December 24, 2013. The closing stock price for ISBA on November 27, 2013 was $23.19.

For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com. Isabella Bank Corporation common stock is quoted on the OTCQB tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.”

10-25-2013

Isabella Bank Names Jerome Schwind to Executive Vice President/Chief Operations Officer, Effective January 2014

Steven Pung, President of Isabella Bank, announced the promotion of Jerome Schwind to Executive Vice President and Chief Operations Officer, effective January 1, 2014.

Jerome joined Isabella Bank in 1999 and has served in various leadership roles including Chief Integration Officer and President of the Mecosta Division.  Jerome received his undergraduate degree from Ferris State University and his MBA from Lake Superior State University.  He is also a graduate of the Dale Carnegie Executive Development program, the Graduate School of Banking at the University of Wisconsin-Madison, and the Rollie Denison Leadership Institute.  

In addition to his professional accomplishments, Jerome is also a strong community advocate.   He is an active volunteer and serves as a director for the Friends of Ferris board.  Schwind is past chair of the Mecosta County Development Corporation and past vice chair of the Mecosta County Medical Center.

“Jerome is a trusted leader within our Bank and also in our local communities.  He has more than two decades of banking experience.  We look forward to leveraging his skills and knowledge in lending, deposits, and strategic planning across the entire Bank,” commented Isabella Bank President Steven Pung.   

For more information about Isabella Bank Corporation, visit the Investors tab at www.isabellabank.com.  Isabella Bank Corporation common stock is quoted on the OTCQB tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.”

This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in Isabella Bank Corporation's annual report on Form 10-K for the year ended December 31, 2012 and Form 10-Q for the quarter ended September 30, 2013 which are or will be available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.

10-25-2013

ISBA Announces Third Quarter 2013 Earnings

Richard J. Barz, Chief Executive Officer of Isabella Bank Corporation (ISBA), announced today that the Corporation's third quarter 2013 net income was $3.29 million. The Corporation paid a $0.21 per share cash dividend in the third quarter of 2013, which represents a 5.00% increase when compared to the same period in 2012. Based on the Corporation's average stock price of $24.88 for the month of September 2013, the annualized cash dividend yield was 3.38%.

The Corporation’s net income for the first nine months of 2013 was $9.59 million as compared to $9.70 for the first nine months of 2012.  While year to date earnings decreased by $109,000 in 2013 as compared to 2012, the Corporation recognized securities gains of $948,000 for the nine months ended September 30, 2012 which were not present during 2013.  As of September 30, 2013, the Corporation’s total assets were $1.46 billion, and assets under management - which included loans sold and serviced, and assets managed by the Corporation’s Investment and Trust Services Department of $646.50 million - were $2.11 billion. This represents a 4.49% increase in assets under management when compared to September 30, 2012.

While competition for high quality loans has been intense, the Corporation has not relaxed its underwriting standards and remains committed to core community banking principles and long term sustainable growth. The Corporation’s loan quality remains sound as evidenced by its relatively low percentage of loans classified as nonperforming. As of September 30, 2013, the ratio of nonperforming loans to total loans for the Corporation was 0.53%. In comparison, the average percentage for all bank holding companies in the Corporation’s peer group was 1.86% as of June 30, 2013 (peer group ratios are not yet available for September 30, 2013). In addition, the Corporation's risk based capital to risk adjusted total assets ratio of 15.00% as of September 30, 2013 compares favorably to the 8.0% ratio required to be classified as adequately capitalized under the Federal Reserve Board's risk based capital rules.

For further information regarding Isabella Bank Corporation, please visit the website at www.isabellabank.com and click on the Investors Tab.

This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in Isabella Bank Corporation's annual report on Form 10-K for the year ended December 31, 2012 and Form 10-Q for the quarter ended September 30, 2013, which are or will be available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.

09-27-2013

Isabella Bank Corporation CEO Barz Announces Retirement; Evans Elected CEO, Effective January 2014

David Maness, Chairman of Isabella Bank Corporation (ISBA), announced today that Richard (Rick) J. Barz will retire as Chief Executive Officer effective December 31, 2013.  The Board of Directors has elected Jae Evans, currently Isabella Bank’s Chief Operations Officer, to serve as CEO effective January 1, 2014.  Barz will continue to serve on the Board of Directors for both Isabella Bank and Isabella Bank Corporation.

“Rick has served our organization as a steward of our brand and as a mentor for our current and future leaders.  We are deeply thankful to Rick for his contributions and years of service,” said David Maness, Chairman of the Board.

“After a two-year process and assistance from a nationally recognized executive consulting firm, we are extremely pleased to announce a promotion from within our organization,” added Maness.  “Jae has extensive banking and leadership experience, as well as an intimate knowledge of our internal business practices, communities and core values.  Together, these attributes will provide the leadership and experience needed to assure continued success now and into the future.”

Evans’ appointment to CEO is effective January 1, 2014.  Evans joined Isabella Bank in 2008 and has more than 36 years of banking experience. He has served in various roles at the Bank, including Chief Operations Officer and president of the Greenville Division.  He is a graduate of Central Michigan University, the Graduate School of Banking at the University of Wisconsin-Madison, and the Dale Carnegie Executive Development program.  Evans is an active volunteer. He is a board member for The Community Bankers of Michigan, Art Reach of Mid Michigan, and is chair of the EightCAP governing board. Evans is also past vice-chair of the Carson City Hospital, was president of the Greenville Rotary Club, and just completed his term as chair of The Community Bankers of Michigan.

The senior management group includes a seasoned team of bankers with more than 350 years of banking experience.  They include:

• Jae Evans, CEO - Elect
• Steven Pung, Isabella Bank President
• Dennis Angner, Chief Financial Officer and President of Isabella Bank Corporation
• Jerome Schwind, Chief Integration Officer
• David Reetz, Chief Lending Officer
• Keith Kenney, President - Mecosta Division
• Timothy Miller, President - Breckenridge Division
• Richard Russo, President - Greenville Division
• Thomas Wallace, President - Farwell Division
• Barbara Diehm, Senior Vice President - Branch Administration
• Daniel Eversole, Senior Vice President - Human Resources
• Barbara Place, Senior Vice President - Audit
• Peggy Wheeler, Senior Vice President - Controller

Barz said his 41 years with Isabella Bank have been very rewarding.  “I have had great mentors, customers, and co-workers who helped me understand the positive role we, as bankers, have in the growth and development of our communities,” he said.

“I see this same passion for community banking in our next generation of leadership and am confident in their ability to serve our customers, employees, shareholders, and communities,” Barz added.

For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com.  Isabella Bank Corporation common stock is quoted on the OTCQB tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.”

This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in Isabella Bank Corporation's annual report on Form 10-K for the year ended December 31, 2012 and Form 10-Q for the quarter ended June 30, 2013, which are available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.

 

 

09-11-2013

Turner Promoted to Mortgage Lender

Steve Pung, President of Isabella Bank, is pleased to announce the promotion of Jessica Turner to Mortgage Lender. Jessica will serve the Mt. Pleasant and surrounding area residents with their home buying, building, and remodeling loans.

Jessica has been with Isabella Bank since 2007.  She has spent the last 4 years in the mortgage processing and underwriting departments.  Jessica earned her Bachelor Degree from Ferris State University.  She volunteers her time with Bank sponsored events, the Home Builders Association of Central Michigan and the Mt. Pleasant Area Chamber of Commerce.  Jessica and her husband, Trevor, reside in Sheridan with their two children.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.08 billion in assets under management.  To learn more about Isabella Bank, visit any of their 27 convenient locations throughout mid-Michigan or the company website at www.isabellabank.com.

09-03-2013

Wilson Joins Isabella Bank Breckenridge Board

Tim Miller, President of Isabella Bank – Breckenridge Division, announced the appointment of Brent C. Wilson to the Board.  

Mr. Wilson is a partner in Wilson Centennial Farm, LLC, a 650 dairy cow and 3500 acre cash crop business.   The Wilson Centennial Farm is a past recipient of the Gratiot County Farm Family of the Year and NorthStar DHI number one High Dollar Value Herd.  Over the years, Mr. Wilson has served on several community organizations including director for the Michigan Milk Producers Association, chair of Carson Health System, and member of the Carson City United Methodist Church.  He has also served on the Gratiot County Farm Bureau Board, GreenStone Farm Credit Board, Greater Gratiot Development Board and member representative for Michigan Milk Producers Association.  He previously served as the area MSU Extension Agricultural Agent.

Brent is a graduate of Michigan State University with a B.S. in Animal Science and a M.A. in Adult Education.  Brent and his wife, Nancy, reside in Carson City.  

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.08 billion in assets under management.  To learn more about Isabella Bank, visit any of our 27 convenient locations throughout mid-Michigan or the website at www.isabellabank.com.

09-03-2013

Diehm Graduates from Prestigious Graduate School of Banking at University of Wisconsin-Madison

Steve Pung, President of Isabella Bank, is pleased to announce the graduation of Barb Diehm, Senior Vice President of Branch Administration from the prestigious Graduate School of Banking at the University of Wisconsin-Madison.  The School was established in 1945 to provide bankers with an opportunity for advanced study and research in banking, economics and leadership.

In 1973, Barb began her career at Isabella Bank as a teller.  Over the years, her dedication and hard work led to several promotions including Loan Officer, Branch Manager and Senior Vice President of Branch Administration.  Barb is a graduate of the Rollie Denison Leadership Institute, Dale Carnegie Team Development and Executive Development Programs.  She is actively involved in the St. Michael’s School Foundation as Treasurer.  Barb and her husband, Tom, reside in the Remus area.  They have three grown children, Adam, Tony and Alyssa.  
 
Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.08 billion in assets under management.  To learn more, visit any of our 27 convenient locations throughout mid-Michigan or the company website at www.isabellabank.com.

08-29-2013

ISBA Announces Third Quarter 2013 Dividend

Richard J. Barz, Chief Executive Officer of Isabella Bank Corporation (ISBA), announced today that the Corporation's Board of Directors declared a third quarter cash dividend of $0.21 per share – a 5.00% increase from third quarter 2012 - at its regular meeting held on August 28, 2013.  The dividend will be payable on September 30, 2013 to shareholders of record as of September 24, 2013.  The closing stock price for ISBA on August 28, 2013 was $24.99.

For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com.  Isabella Bank Corporation common stock is quoted on the OTCQB tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.”

07-26-2013

ISBA Announces Second Quarter 2013 Earnings

Richard J. Barz, Chief Executive Officer of Isabella Bank Corporation (ISBA), announced today that the Corporation's second quarter 2013 net income was $3.21 million, a 6.96% increase over the same period in 2012. The Corporation paid a $0.21 per share cash dividend in the second quarter of 2013, which represents a 5.00% increase when compared to the same period in 2012. Based on the Corporation's average stock price of $24.94 for the month of June 2013, the annualized cash dividend yield was 3.37%.

The Corporation's net income for the first six months of 2013 was a record $6.30 million, a $62,000 increase over the same period in 2012. Despite compressed margins, the Corporation surpassed 2012 earnings (for the same period) due to continued improvement in credit quality, a reduction in the provision for loan losses, and loan growth of $30.70 million in the first six months of 2013. As of June 30, 2013, the Corporation’s total assets were $1.45 billion, and assets under management - which included loans sold and serviced, and assets managed by the Corporation’s Investment and Trust Services Department of $631.18 million - were $2.08 billion. This represents a 4.15% increase in assets under management when compared to June 30, 2012.

The Corporation’s loan quality remains sound as evidenced by its relatively low percentage of loans classified as nonperforming. As of June 30, 2013, the ratio of nonperforming loans to total loans for the Corporation was 0.52%, down from 0.90% as of March 31, 2013. In comparison, the average percentage for all bank holding companies in the Corporation’s peer group was 2.02% as of March 31, 2013 (peer group ratios are not yet available for June 30, 2013). In addition, the Corporation's risk based capital to risk adjusted total assets ratio of 14.84% as of June 30, 2013 compares favorably to the 8.0% ratio required to be classified as adequately capitalized under the Federal Reserve Board's risk based capital rules.

For further information regarding Isabella Bank Corporation, please visit the website at www.isabellabank.com and click on the Investors Tab.

This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in Isabella Bank Corporation's annual report on Form 10-K for the year ended December 31, 2012 and Form 10-Q for the quarter ended June 30, 2013, which are or will be available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.

06-14-2013

Donovan Announced Supervisor of 2nd Big Rapids Branch

Keith Kenney, Mecosta Division President of Isabella Bank, announced Felicia Donovan will serve as Supervisor of the new Big Rapids branch.  The new branch slated to open in August is located at 711 Maple Street.  Felicia will oversee the day-to-day branch operations.  She has 5 ½ years of banking experience in the Mecosta area.

Felicia received a Business Information Systems certificate from Mid-Michigan Community College and is currently enrolled in Isabella University, an internal training program for branch supervisors.  She volunteers her time with the Osceola County Community Foundation and Barryton Days Parade.  Felicia and her husband, Chad, reside in Remus with their two daughters.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.05 billion in assets under management.  To learn more, visit any of our 26 (soon to be 27) convenient locations throughout mid-Michigan or the company website at www.isabellabank.com.

 

06-14-2013

Isabella Bank Welcomes Hansen to Business Development Team

Steven Pung, President of Isabella Bank, is pleased to welcome Kerri Hansen to the Business Development Team.  Hansen’s main responsibilities include educating business customers on Isabella Bank’s array of electronic merchant services and offering solutions to fit their needs.

Kerri is working toward her Associates in Technology degree at Mid-Michigan Community College.  She has been with Isabella Bank for 11 years, starting in the accounting department and working in the electronic services department for the last 9 years.  Kerri is a lifelong resident of Mount Pleasant.  She has one son who is currently attending CMU.  Kerri is actively involved with the Community Compassion Network and American Red Cross.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.05 billion in assets under management.  To learn more, visit any of our 26 (soon to be 27) convenient locations throughout mid-Michigan or the company website at www.isabellabank.com.

 

06-07-2013

Eling and Houin Graduate from MBA Perry School of Banking

Steven Pung, President of Isabella Bank, is pleased to announce the graduation of Josh Eling, Assistant Vice President Big Rapids Branch and Vern Houin, Assistant Vice President FGIS, from the prestigious Michigan Bankers Association (MBA) Perry Schools of Banking.  The MBA Perry Schools of Banking were established in 1976 with a mission to serve the banking industry of Michigan through in-depth and long-term continuing education programs developed by the MBA Perry Board of Trustees and alumni.

Josh has been with Isabella Bank since 2009 as the Big Rapids branch manager.  Josh graduated from Central Michigan University with a degree in Accounting and completed his Master’s Degree in Business Administration from Ferris State University in 2008.  He is actively involved in the Rotary, a Board Member for the Big Rapids Area Chamber of Commerce and serves on the United Way Allocation Committee.  Josh and his wife, Christie, reside in Canadian Lakes with their two children.

Vern has been with Isabella Bank since 2009 overseeing the network information systems.  Vern graduated from Indiana University with a Bachelor of Computer Science degree and the Dale Carnegie Team Development Program.  He is an active member of the Sacred Heart Parish.  He is the Grand Knight of the Sacred Heart Chapter of the Knights of Columbus and a member of the Michigan Bankers Association.  Vern and his wife, Julie, reside in the Lake Isabella area.  They have three children and three grandchildren.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.05 billion in assets under management.  To learn more, visit any of our 26 (soon to be 27) convenient locations throughout mid-Michigan or the company website at www.isabellabank.com.

 

05-23-2013

ISBA Announces Second Quarter 2013 Dividend

Richard Barz, Chief Executive Officer of Isabella Bank Corporation (ISBA), announced today that the Corporation's Board of Directors declared a second quarter cash dividend of $0.21 per share – a 5.00% increase from second quarter 2012 - at its regular meeting held on May 22, 2013.  The dividend will be payable on June 28, 2013 to shareholders of record as of June 24, 2013.  The closing stock price for ISBA on May 22, 2013 was $24.79.

For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com.  Isabella Bank Corporation common stock is quoted on the OTCQB tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA."

 

04-26-2013

ISBA Announces First Quarter 2013 Earnings

Richard J. Barz, Chief Executive Officer of Isabella Bank Corporation (ISBA), announced today that the Corporation's first quarter 2013 net income was $3.09 million, compared to $2.51 million in the fourth quarter of 2012 and $3.23 million in the first quarter of 2012. The 4.33% decline in net income (compared to the first quarter of 2012) is primarily attributed to the strategic restructuring of investment securities and borrowings which took place in the first quarter of 2012 and led to a one-time increase in net income of $603,000.

The Corporation paid a $0.21 per share cash dividend in the first quarter of 2013, which represents a 5.00% increase when compared to the same period in 2012.  Based on the Corporation's average stock price of $24.52 for the month of March 2013, the annualized cash dividend yield was 3.43%.  The Corporation’s total assets were $1.43 billion, and assets under management - which included loans sold and serviced, and assets managed by the Corporation’s Investment and Trust Services Department of $638.11 million - were $2.07 billion on March 31, 2013. This represents a 4.02% increase in assets under management when compared to March 31, 2012.

The Corporation’s loan quality remains sound as evidenced by its relatively low percentage of loans classified as “nonperforming.” As of March 31, 2013, the ratio of “nonperforming” loans to total loans for the Corporation was 0.90%, down from 1.00% at year-end 2012. In comparison, the average percentage for all bank holding companies in the Corporation’s peer group was 2.19% as of December 31, 2012 (peer group ratios are not yet available for March 31, 2013). In addition, the Corporation's risk based capital to risk adjusted total assets ratio of 14.86% at March 31, 2013 is considered to be exceptionally sound when compared to the 8.0% ratio required to be considered adequately capitalized under the Federal Reserve Board's risk based capital rules.

“We continue to leverage our financial strength and stability to make strategic decisions which will position us well for the future.  We are extremely proud to be opening our 27th office later this year.  It will be located on the east side of Big Rapids,” Barz commented.
 
For further information regarding Isabella Bank Corporation, please visit the website at www.isabellabank.com and click on the Investors Tab.

This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in Isabella Bank Corporation's annual report on Form 10-K for the year ended December 31, 2012 and Form 10-Q for the quarter ended March 31, 2013, which are or will be available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.

 

04-18-2013

Isabella Bank Welcomes McNeil as New Commercial Lender

Tim Miller, Breckenridge Division President of Isabella Bank, is pleased to welcome Michael McNeil.  McNeil’s main responsibilities will include serving Breckenridge and the surrounding communities with their commercial and agricultural lending needs.

McNeil earned his Bachelor of Business Administration from Northwood University, Associate of Arts in Business Administration from Delta College and a Certificate of Agri-Business Technologies from Michigan State University.  He has 5 years of commercial and agricultural lending experience.  Michael and his wife, Elise, have one son and are expecting their second child in July.  They look forward to relocating closer to the Breckenridge area to get involved with the community.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.05 billion in assets under management.  To learn more, visit any of our 26 convenient locations throughout mid-Michigan or the company website at www.isabellabank.com.

 

04-02-2013

Barz Named 2013 MBA Banker of the Year

The Michigan Bankers Association (MBA) has selected Richard J. Barz, CEO of Isabella Bank Corporation in Mount Pleasant, as its 2013 MBA Banker of the Year.

“We are proud to honor Rick Barz as the MBA Banker of the Year. His dedication to the banking industry, his community and the MBA has been exemplary,” said Dennis Koons, President and CEO of the Michigan Bankers Association.

Each year, the MBA Board of Directors, made up of bank CEO’s from around the state, recognizes a banker as the MBA Banker of the Year based on their commitment to the Michigan Bankers Association, contribution to their bank, service to other banks and a strong record of community service.

“It is an amazing honor to be selected as the MBA Banker of the Year,” said Barz. “It would not have been possible without the exceptional team here at Isabella Bank who work hard everyday to provide quality services to our customers and the community.”

Barz will be honored at the MBA Annual Convention on Mackinac Island in June.

Mr. Barz celebrated his 40th anniversary with Isabella Bank in 2012. He has held several positions during his career and was named president and chief executive officer of Isabella Bank in 2001. Mr. Barz was named CEO of Isabella Bank Corporation in 2010. When he started at Isabella Bank in 1972, it had assets of $37 million. Last year, the Corporation hit a milestone by reaching $2.05 billion in assets under management. In addition, the Corporation’s net income for 2012 was $12.21 million, a 19.55% increase over the prior year.

Mr. Barz has been actively involved in the initiatives of the Michigan Bankers Association, acting as a Trustee for the MBA Perry Schools of Banking. He also participates in statewide and national legislative efforts supporting the banking industry. In the past, Mr. Barz has also been an instructor for the MBA Perry Schools of Banking, and sits on the MBA Bank Management Committee. He is passionate about the bank’s role in teaching financial literacy. Employees at the bank regularly visit classrooms to talk about budgeting and the importance of good credit. In 2012, Isabella Bank received the MBA Financial Literacy Award in recognition of these efforts.

Locally, Mr. Barz is the current chairman of the Middle Michigan Development Corporation, the Local Development Finance Authority, and is a member of the Central Michigan University Development Board as well as the CMU Research Corporation Board, Mid-Michigan Community College – Mt. Pleasant Advisory Board and is Honorary Chair for the Campaign for Excellence. He has served as past chair of Central Michigan Community Hospital, United Way of Isabella County, Volunteer Center and City of Mt. Pleasant Planning Commission.

Mr. Barz also encourages others throughout his organization to take an active role in the community. Volunteering is written directly into Isabella Bank’s vision and mission statements.

“The MBA congratulates Mr. Barz on this distinguished achievement,” said Craig Kus, Chairman of the Michigan Bankers Association “He is a very deserving honoree.”

The Michigan Bankers Association (MBA), the voice of the banking industry since 1887, consists of Michigan financial institutions with more than 3,000 branches located throughout the state. The MBA promotes strong communities and economic activity in Michigan by advancing a positive business environment. MBA assists banks by offering products and services to reduce expenses and increase profitability through the strength of the association.

For more information, visit www.mibankers.com.

 

03-12-2013

Bleeker Promoted to Consumer Lender

Steve Pung, President of Isabella Bank, is pleased to announce the promotion of Mari Kay Bleeker to Consumer Lender.  Bleeker’s main responsibilities will include serving the Lake Isabella area with their consumer lending needs and supervising the branch operation.  She has 6 years of banking experience.

Bleeker is a graduate of the Robert M. Perry School of Banking, Dale Carnegie Team Development Program, Isabella University, Isabella Bank Leadership Program and the Principles of Banking Course.  Mari Kay is a member of the Big Rapids Jaycees.  Mari Kay and her husband, Chad, reside in the Remus area with their two sons.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.05 billion in assets under management.  To learn more about Isabella Bank, visit any of their 26 convenient locations throughout mid-Michigan or the company website at www.isabellabank.com.  

 

03-01-2013

ISBA Announces First Quarter 2013 Dividend

Mt. Pleasant, Michigan, March 1, 2013 - Richard Barz, Chief Executive Officer of Isabella Bank Corporation (ISBA), announced today that the Corporation's Board of Directors, at its regular meeting held on February 27, 2013, declared a first quarter cash dividend of $0.21 per share.  The dividend will be payable on March 29, 2013 to shareholders of record as of March 26, 2013.  This cash dividend represents a 5.00% increase compared to the first quarter dividend of 2012. The closing stock price for ISBA on February 28, 2013 was $23.75.

For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com.  Isabella Bank Corporation common stock is quoted on the OTCQB tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.”

 

02-14-2013

Isabella Bank Honors Top Employees

Isabella Bank recognized 8 individuals and 2 teams at their annual Employee Recognition event on January 26, 2013.

During the themed evening, eight individuals received the prestigious “Izzy Award” based upon their commitment to exceptional customer service, while upholding the values, goals and ethical expectations of Isabella Bank.  The following employees received the 2013 Izzy Award:  Nora Colthorp – Hemlock, Melissa Fiorillo – Lake Isabella, Jennifer Gill – Accounting, Patrick Larrance – FGIS, Sarah Lukens – Shepherd, Jill Smith – Greenville, Dawn Swetz – Farwell, Lisa Whitehead – Big Rapids.

Two departments were chosen as Outstanding Teams of the Year.  The two teams were: Accounting and the Lake Isabella Branch.  These two teams were nominated by their peers and supervisors based upon superior customer service by their entire department and their contributions to the overall success of the Bank, volunteerism, teamwork and living Isabella Bank’s values on a daily basis.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.05 billion in assets under management.  To learn more about Isabella Bank, visit any of their 26 convenient locations throughout mid-Michigan or the company website at www.isabellabank.com.

 

02-08-2013

ISBA Announces 2012 Earnings

Richard J. Barz, Chief Executive Officer of Isabella Bank Corporation (ISBA), announced today that the Corporation's net income for 2012 was $12.21 million, a 19.55% increase over the prior year. This increase was primarily the result of the strategic restructuring of certain investment securities and borrowings in the first quarter of 2012, and a significant increase in the gain on the sale of long term fixed rate residential mortgages on the secondary market.

On December 31, 2012, the Corporation’s total assets were $1.43 billion, and assets under management - which included loans sold and serviced, and assets managed by the Corporation’s Investment and Trust Services Department of $622.73 million - were $2.05 billion.

The Corporation’s loan quality remains sound as evidenced by its low percentage of loans classified as “nonperforming.” As of December 31, 2012, the ratio of “nonperforming” loans to total loans for the Corporation was 1.00%. In comparison, the average percentage for all bank holding companies in the Corporation’s peer group was 2.48% as of September 30, 2012 (peer group ratios are not yet available for December 31, 2012). In addition, the Corporation's risk based capital to risk adjusted total assets ratio of 14.48% at December 31, 2012 is considered to be exceptionally sound when compared to the 8.0% ratio required to be considered as adequately capitalized under the Federal Reserve Board's risk based capital rules.

The Corporation paid total cash dividends of $0.80 per share in 2012, which represents a 5.26% increase when compared to the total cash dividends paid per share in 2011. Based on the Corporation's average stock price of $22.69 for the month of December 2012, the annualized cash dividend yield was 3.53%.
For further information regarding Isabella Bank Corporation, please visit the website at www.isabellabank.com and click on the Investors Tab.
 

This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in Isabella Bank Corporation's Form 10-Q for the quarter ended September 30, 2012 and annual report on Form 10-K for the year ended December 31, 2012, which are or will be available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.

 

01-31-2013

Isabella Bank Promotions

Steven Pung, President of Isabella Bank is pleased to announce the following promotions.

Deb Campbell – Vice President Shareholder Services
Aaron Wirsing – Vice President Accounting
Miles Coffland – Assistant Vice President Investment & Trust Services
Deb Markley – Assistant Vice President Breckenridge Branch
Connie Katt – Assistant Vice President Breckenridge Retail Lending
Bob Byram – Business Development Officer Greenville
Pat Netzley – Business Development Officer Breckenridge
Nora Colthrop – Branch Officer Hemlock

Campbell’s primary responsibilities include overseeing the day-to-day operations of the shareholder services department. She has been with Isabella Bank since 1982 and worked in a number of capacities throughout the Bank including teller, corporate board secretary, and most recently supervisor of shareholder services. Deb completed the Isabella Bank Leadership Development Program. She is actively involved in the community and Bank sponsored events. Deb and her late husband, William, have 2 grown children and 3 grandchildren.

Wirsing’s primary responsibilities include overseeing the day-to-day operations of the accounting department. He has been with Isabella Bank since 2003. Wirsing graduated from Saginaw Valley State University and the Dale Carnegie Team Development Program. He is currently attending the Graduate School of Banking at the University of Wisconsin – Madison and the Dale Carnegie Executive High Impact Leadership Program. Wirsing serves as the treasurer for Habitat for Humanity of Isabella County and is a member of the Michigan Bankers Association Grassroots Advocacy Committee and Zion Lutheran Church in Mt. Pleasant. Aaron and his wife, Kate, reside in Beal City with their children, Luke and Elle.

Coffland’s primary responsibilities include assisting customers with their trust and investment decisions. Coffland has been with Isabella Bank since 2003. Coffland is a Certified Public Accountant; he graduated from Central Michigan University, Cannon Trust School, the Dale Carnegie Team Development Program, the Dale Carnegie Sales and Service Excellence Program and the Rollie Denison Leadership Program. He is a Little League coach and the current President of the Board for the United Way of Isabella County. Miles resides in Mt. Pleasant with his family.

Markley’s primary responsibilities include consumer lending and overseeing the day-to-day operations of the Breckenridge branch. Markley has been with Isabella Bank since 1990. Markley graduated from Great Lakes Junior College and the Dale Carnegie Team Development Program. She has earned the BPW Young Careerist and Isabella Bank Izzy awards. Markley is treasurer for the Breckenridge Rotary Club and member of the Breckenridge Schools Scholarship Committee. Deb and her husband, Steve, reside in Breckenridge with their two sons.

Katt’s primary responsibilities include serving the Breckenridge community with their mortgage lending needs. Katt has been with Isabella Bank since 1982 and worked in a number of capacities throughout the Bank including bookkeeper, teller, mortgage loan processor, commercial loan clerk, and most recently as a mortgage loan officer. Katt graduated from the Michigan Bankers Association Mortgage Lending School, Dale Carnegie Sales and Service Excellence Program and the Dale Carnegie Team Development Program. She is the Women for Women secretary, member of the Central Michigan Association of Realtors, Home Builders Association and participates in the area Relay for Life. Connie and her husband, Dave, reside in the Breckenridge area. They have two grown sons and two grandchildren.

Byram’s primary responsibilities include serving Greenville and the surrounding communities with their commercial lending needs. He has been with Isabella Bank since 2002. Byram graduated with honors from Northwood University and the Dale Carnegie Team Development Program. He is currently attending the Robert M. Perry School of Banking and pursuing his MBA at Ferris State University. He is a member of the Greenville Rotary Club, Big Brothers Big Sisters of Montcalm County Resource Committee, M-Tec Advisory Board and Heart of Montcalm Chamber of Commerce Board member. Bob and his wife, Katrina, reside in Greenville with their two children.

Netzley’s primary responsibilities include serving Breckenridge and the surrounding communities with their commercial lending and crop insurance needs. He has been with Isabella Bank since 2009. Netzley is a graduate of the Robert M. Perry School of Banking, Dale Carnegie Team Development Program and is licensed in property, casualty, life and health insurance. He is a member of the Bay/Midland Pheasants Forever, National Wild Turkey Federation and coaches youth soccer and t-ball. Pat and his wife, Kelly, reside in Hemlock with their two children.

Colthorp’s primary responsibilities include serving Hemlock and the surrounding communities with their banking needs and overseeing the branch operations. She has been with Isabella Bank since 1996. Colthorp is a graduate of Central Michigan University with a degree in Business Administration. She is second Vice President of the Hemlock Lions Club, a Lafayette Township Trustee and member of the Saginaw County Chamber of Commerce. Nora and her husband, Dave, reside in Breckenridge with their two daughters.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.05 billion in assets under management. To learn more about Isabella Bank, visit any of their 26 convenient locations throughout mid-Michigan or the company website at www.isabellabank.com.
 

01-24-2013

Isabella Bank Names New Branch Manager & Mortgage Loan Officer

Tom Wallace, Farwell Division President of Isabella Bank, is pleased to announce Scott Moore as the Branch Manager of the Clare office and Roger Williams as Mortgage Loan Officer.

Moore’s main responsibilities will include serving Clare and the surrounding communities with their banking needs and overseeing the branch operations. He has 18 years of banking experience most recently serving as the Vice President of Retail Banking. Moore is a graduate of Central Michigan University. He is actively involved at the Clare United Methodist Church and coach for Clare youth sports. Scott and his wife, Liz, reside in the Clare area with their two sons.

Williams’ main responsibilities will include serving the Clare and Farwell areas with their mortgage lending needs. He has been with Isabella Bank since 2001. Williams is a graduate of the Perry School of Banking, Clare County Leadership Institute and the Dale Carnegie Team Development Program. He is a member of the John Q Look Masonic Lodge in Clare, President of the Clare Chamber of Commerce and actively involved at the Crystal Motor Speedway and Tri-City Motor Speedway which earned him the 2009 Midwest Racing Scene’s Tom Carnegie Announcer of the Year award. Roger and his wife, Stephanie, reside in Clare.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.05 billion in assets under management. To learn more visit any of our 26 convenient locations throughout mid-Michigan or the company website at www.isabellabank.com
 

12-13-2012

Oman Retires After 28 Years

Tom Wallace, Farwell Division President of Isabella Bank, announced the retirement of Pat Oman, Assistant Vice President of Consumer Lending. Throughout Pat’s 28 years at the Bank he served as a consumer and mortgage lender.

“Pat will be missed by all of us at the Bank and by his loyal customers. His customers were like family to him. Pat is well respected in the Farwell community and we wish him a happy retirement.” commented Wallace.

Pat is an active member of the Lake Baptist Church. After retirement he plans to spend more time with his foam insulation business and helping at his son’s construction business. Pat and his wife, Deb, reside in Farwell. They have 2 children and 3 grandchildren.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.02 billion in assets under management. To learn more about Isabella Bank, visit any of our 26 convenient locations throughout mid-Michigan or the website at www.isabellabank.com.

01-18-2013

Zayler Named Branch Manager of Stanton Office

Richard Russo, Greenville Division President of Isabella Bank, is pleased to announce Tracy Zayler as the new Branch Manager of the Stanton office.  Zayler’s main responsibilities will include serving Stanton and the surrounding communities with their banking needs and overseeing the branch operations. She has 13 years of banking experience.

Zayler is a graduate of the Robert M. Perry School of Banking and Dale Carnegie Team Development Program. She is currently a member of the Greenville Optimist Club and past president of the Danish Festival board. Tracy and her husband, Brian, reside in Greenville with their two daughters.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.02 billion in assets under management. To learn more visit any of our 26 convenient locations throughout mid-Michigan or the company website at www.isabellabank.com.

11-30-2012

 Isabella Bank Names Chief Integration Officer & Mecosta Division President

Steven Pung, President of Isabella Bank, is pleased to announce the promotion of Jerome Schwind to Chief Integration Officer and welcome Keith Kenney, who will serve as the Mecosta Division President. As the Chief Integration Officer, Schwind will be responsible for the integration of strategic initiatives throughout the company. As the Mecosta Division President, Kenney will manage the day-to-day operations and community development for the Mecosta County offices.

Schwind joined Isabella Bank in 1999 and has over 20 years of banking experience. Prior to his promotion, he served as the Mecosta Division President. He holds a Finance degree from Ferris State University and an MBA from Lake Superior State University. Schwind is a graduate of the Dale Carnegie Executive Development program and the Graduate School of Banking at the University of Wisconsin-Madison. In addition to his professional achievements, Schwind is also very active in his community. He serves as a Trustee of the Mecosta County Medical Center, an Ambassador of the Mecosta County Area Chamber of Commerce, President of the Mecosta County Development Corporation, and serves on the Friends of Ferris Board. Jerome and his wife, Deborah, live in Canadian Lakes.

Kenney joins Isabella Bank with over 30 years of banking experience. Most recently, he served as a Market President for US Bank and previously held several commercial lending positions including Senior Vice President. He holds a Business Administration degree from Almeda University. Kenney has been involved in several community organizations including the Chamber of Commerce and Home Builders Association. Keith and his wife, Jean, are excited for the opportunity to move back home to Michigan and join the Big Rapids community.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.02 billion in assets under management. To learn more about Isabella Bank, visit any of our 26 convenient locations throughout mid-Michigan or our website at www.isabellabank.com.
 

11-30-2012

ISBA Announces Fourth Quarter 2012 Dividend

Richard Barz, Chief Executive Officer of Isabella Bank Corporation (ISBA), announced today that the Corporation's Board of Directors, at its regular meeting held on November 28, 2012, declared a fourth quarter cash dividend of $0.20 per share. The dividend will be payable on December 28, 2012 to shareholders of record as of December 26, 2012. This cash dividend represents a 5.26% increase compared to the fourth quarter dividend of 2011. The closing stock price for ISBA on November 28, 2012 was $22.85.

For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com. Isabella Bank Corporation common stock is quoted on the OTCQB tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.” 
 

10-25-2012

ISBA Announces Third Quarter 2012 Earnings

Richard J. Barz, Chief Executive Officer of Isabella Bank Corporation (ISBA), announced today that the Corporation's net income for third quarter 2012 was $3.46 million, a 37.67% increase over the same period in 2011. The Corporation paid a $0.20 per share cash dividend in the third quarter of 2012. Based on the Corporation's average stock price of $23.17 for the month of September 2012, the annualized cash dividend yield was 3.45%.

The Corporation's net income for the first nine months of 2012 was $9.70 million, a $2.20 million or 29.28% increase over the same period in 2011. This increase was primarily the result of strategic restructuring of the investment securities and borrowings in the first quarter and a significant increase in the gains on sale of long term fixed rate residential mortgages on the secondary market. On September 30, 2012, the Corporation’s total assets were $1.39 billion and assets under management - which included loans sold and serviced, and assets managed by the Corporation’s Investment and Trust Services Department of $626 million - were $2.02 billion.

 The Corporation’s loan quality remains strong as evidenced by its low percentage of loans classified as “nonperforming.” As of September 30, 2012, the ratio of “nonperforming” loans to total loans for the Corporation was 0.98%. In comparison, the average percentage for all bank holding companies in the Corporation’s peer group was 2.46% as of June 30, 2012 (peer group ratios are not yet available for September 30, 2012). In addition, the Corporation's risk based capital to risk adjusted total assets ratio of 14.60% at September 30, 2012 is considered to be exceptionally sound when compared to the 8.00% ratio required to be considered as adequately capitalized under the Federal Reserve Board's risk based capital rules.

For further information regarding Isabella Bank Corporation, please visit the website at www.isabellabank.com and click on the Investors Tab.

This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in Isabella Bank Corporation's annual report on Form 10-K for the year ended December 31, 2011 and Form 10-Q for the quarter ended September 30, 2012, which are or will be available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.
 

09-28-2012

 Wallace and Smith Graduate from Prestigious Graduate School of Banking at University of Wisconsin-Madison

Steve Pung, President of Isabella Bank, is pleased to announce the graduation of Tom Wallace, President of Isabella Bank’s Northern Division and Jeff Smith, Vice President, Commercial Lending from the prestigious Graduate School of Banking at the University of Wisconsin-Madison. The School was established in 1945 to provide bankers with an opportunity for advanced study and research in banking, economics and leadership.

Wallace is a graduate of Ferris State University, Robert M. Perry School of Banking, Robert M. Perry General Lending School, Rollie Denison Leadership Institute and of Dale Carnegie Executive Development. Wallace is a parenting instructor with Central Michigan Pregnancy Services, classroom volunteer at Ganiard Elementary, member of Central Assembly of God and serves as Central Assembly of God Board Treasurer. Tom and his wife, Leigh, reside in Mt. Pleasant. They have five children and two grandchildren.

Smith is a graduate of Alma College, Rollie Denison Leadership Institute, Dale Carnegie Team Development Process and is currently enrolled in the Dale Carnegie Executive Development Program. Smith is on the City of Mt. Pleasant Planning Commission, board member of Mt. Pleasant Industrial Development Company, Middle Michigan Development Company, Industrial Park North Tax Increment Finance Authority (TIFA), Central Business District TIFA, University Park TIFA, Mission Street Downtown Development Authority, Economic Development Authority, Brownfield Redevelopment Authority, the Michigan Bankers Association Commercial Lending Committee and a Boy Scouts of America Volunteer. Jeff resides in Mt. Pleasant with his two children, Allison and Riley.

Isabella Bank is a wholly owned subsidiary of Isabella Bank Corporation with $2.00 billion in assets under management. To learn more visit any of our 25 (soon to be 26) convenient locations throughout mid-Michigan or the company website at www.isabellabank.com.
 

10-05-2012

 Sackett Joins Isabella Bank Greenville Board

Richard Russo, Greenville Division President of Isabella Bank, announced the appointment of a new director, Brian R. Sackett, to the Greenville Board. The decision took place at the August 20, 2012 board meeting and was effective September 17, 2012.

Brian is co-owner of Sackett Potatoes with his father, Alan and his brother, Jeff. Sackett Potatoes is a fifth generation potato farm servicing the potato chip industry. Sackett Potatoes grows 7,000 acres of potatoes and corn in Mecosta, Montcalm, Kent and Ionia Counties. Brian also oversees the farming operations in Pamlico County, North Carolina where 2,500 acres of potatoes, corn and soybeans are grown.

Brian is a member of the Michigan Potato Industry Commission (MPIC) Board of Directors and serves as Chairman of the Storage and Handling Committee. In 2000 and 2009 Brian received Distinguished Service awards from the MPIC for his work with the Storage and Handling Committee. Sackett Potatoes has received numerous awards in their industry including the 2009 Lance, Inc. Supplier of the Year Award, 2006 Master Farmer in Vegetable Crops Award, 2000 Pioneer Hi Bred Safety Award, 1998 National Environmental Stewardship Award and the 1992 Michigan Potato Grower of the Year Award.

Brian and his wife, Abby, reside in Mecosta with their two children.

For further information regarding Isabella Bank Corporation, please visit the company website at www.isabellabank.com and click on Investors.

09-14-2012

 Isabella Bank Announces “PROJECT PAPER” For Local Schools

Isabella Bank announced the start of their bank wide social media campaign, “PROJECT PAPER” aimed at supporting local schools in the area. The campaign will run September 15, 2012 – October 15, 2012.

“We have always been strong supporters of financial literacy and our local communities, (so) with the launch of our Facebook fan page we thought this campaign would complement our focus on financial education nicely,” commented Steve Pung, President of Isabella Bank.

Our goal is to get at least 1500 likes on our fan page by October 15th. For every “like” we have on October 15th, we will donate one ream of paper to a local school. If we have 1500 likes, we’ll donate 1500 reams of paper. If we have 3500 likes, we’ll happily donate 3500 reams of paper. The need has never been greater for area schools so this is a great way for all of us to show our support.

For more information about Isabella Bank or PROJECT PAPER, visit www.isabellabank.com, or https://facebook.com/isabellabankmi
 

08-30-2012

 ISBA Announces Third Quarter 2012 Dividend

Richard Barz, Chief Executive Officer of Isabella Bank Corporation (ISBA), announced today that the Corporation's Board of Directors, at its regular meeting held on August 29, 2012, declared a third quarter cash dividend of $0.20 per share. The dividend will be payable on September 28, 2012 to shareholders of record as of September 25, 2012. This cash dividend represents a 5.26% increase compared to the third quarter dividend of 2011. The closing stock price for ISBA on August 29, 2012 was $23.85.

For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com. Isabella Bank Corporation common stock is quoted on the OTCQB tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.” 
 

08-02-2012

 ISBA Announces Second Quarter 2012 Earnings

Richard J. Barz, Chief Executive Officer of Isabella Bank Corporation (ISBA), announced today that the Corporation's net income for second quarter 2012 was $3.0 million, a 12.43% increase over the same period in 2011. The Corporation paid a $0.20 per share cash dividend in the second quarter of 2012. Based on the Corporation's average stock price of $24.82 for the month of June 2012, the annualized cash dividend yield was 3.22%.

The Corporation's net income for the first six months of 2012 was $6.23 million, a $1.25 million or 25.10% increase over the same period in 2011. This increase was primarily the result of strategic restructuring of the investment securities and borrowings in the first quarter and a significant increase in the gains on sale of long term fixed rate residential mortgages on the secondary market. On June 30, 2012, the Corporation’s total assets were $1.38 billion, and assets under management - which included loans sold and serviced, and assets managed by the Corporation’s Investment and Trust Services Department of $620 million - were $2.0 billion.

 The Corporation’s loan quality remains strong as evidenced by its low percentage of loans classified as “nonperforming.” As of June 30, 2012, the ratio of “nonperforming” loans to total loans for the Corporation was 0.86%. In comparison, the average percentage for all bank holding companies in the Corporation’s peer group was 3.05% as of March 31, 2012 (peer group ratios are not yet available for June 30, 2012). In addition, the Corporation's risk based capital to risk adjusted total assets ratio of 14.44% at June 30, 2012 is considered to be exceptionally sound when compared to the 10.0% ratio required to be considered as adequately capitalized under the Federal Reserve Board's risk based capital rules.

For further information regarding Isabella Bank Corporation, please visit the website at www.isabellabank.com and click on the Investors Tab.

This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in Isabella Bank Corporation's annual report on Form 10-K for the year ended December 31, 2011 and Form 10-Q for the quarter ended June 30, 2012, which are or will be available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.