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Isabella Bank donates $90,000 to Saginaw-Shiawassee Habitat for Humanity's housing programs

11-14-2019

Isabella Bank donates $90,000 for Habitat’s housing solution programs—$50,000 for Homeownership Down Payment Assistance and $40,000 for Neighborhood Revitalization Home Repairs Program.

With Isabella Bank’s donation for Homeownership Down Payment Assistance, families or individuals approved for Habitat’s Homeownership Program may qualify for Down Payment Assistance of up to $5,000 when they purchase a new or fully-rehabbed home from Saginaw-Shiawassee Habitat for Humanity. Habitat homes are not free; families/individuals purchase homes with interest-bearing mortgages from local financial institutions. The biggest benefit of purchasing a Habitat home is that the major systems of the house have been replaced. The new homeowner does not have to bear the cost of the upgrades generally associated with the purchase of a home, in addition to paying for a new mortgage. Isabella Bank’s donation is making homeownership more affordable for first-time low-income homebuyers.

Isabella Bank’s donation complements and enhances Saginaw-Shiawassee Habitat for Humanity’s Home Repair Program that helps families obtain grants for critical repairs from various funding sources. Isabella Bank’s donation will fund households meeting program criteria. Isabella Bank’s Home Repair grants are extremely important as homes owned by qualifying families are generally older homes in need of critical repair. Habitat’s Home Repair Program supports projects ranging from roof, siding, insulation, installation of access ramps and kitchen or bathroom renovations for wheelchair access, windows, doors, etc. 

“Isabella Bank is committed to improving our community as well as serving low-income homeowners and homebuyers; that is a great combination. Together we are giving more families a handUP!”-Carmen Mora, Executive Director.

Yuncker Joins Isabella Bank as Investment Advisor

11-07-2019

Jerome Schwind, President of Isabella Bank announced the appointment of Anthony Yuncker as a financial advisor with Raymond James Financial Services located at Isabella Bank. Anthony will help clients with their investment, insurance, and financial planning needs.

“We are thankful to have Anthony join the Isabella Bank team. Anthony is committed to build personal connections with his clients. Being local, he understands the importance of community,” stated Schwind.

Mr. Yuncker graduated from Central Michigan University with a degree in finance. He holds a Series 7, Series 66, and Michigan life insurance license. Mr. Yuncker has seven years of financial services experience. Anthony and his wife, Ranaeda, reside in Lake Isabella. They have one daughter, Scarlett.

Isabella Bank has 30 locations throughout seven Mid-Michigan counties and is a wholly owned subsidiary of Isabella Bank Corporation (OTCQX:ISBA). Isabella Bank Corporation has $2.5 billion in assets under management and more than 400 employees. For the past five years, the Corporation has been recognized on the Detroit Free Press list of “Top Workplaces.” To learn more, visit www.isabellabank.com.

Securities 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 or of the bank, are not guaranteed by the bank, and are subject to risks, including the possible loss of principal. Raymond James located at Isabella Bank is not a registered broker/dealer, and is independent of Raymond James Financial Services. Investment Advisory Services offered through Raymond James Financial Services Advisors, Inc.

McGuire Retires from Isabella Bank Corporation Board

10-24-2019

Jae A Evans, President and Chief Executive Officer of Isabella Bank Corporation (ISBA), announced today that Mr. W. Michael McGuire has retired from the Board of Directors after 12 years of loyal service. 

Mr. McGuire has served as a dedicated board member and ambassador of Isabella Bank since 2007, and member of the corporate board since 2010.  He also served as a member of the compensation and human resource committee, the audit committee, and the corporate governance committee.  Prior to serving on the Isabella Bank and corporate board of directors, Mr. McGuire served on the Farwell advisory board for Isabella Bank.  He maintained his role on the Farwell advisory board throughout his 12 years of service.

“Mike has been a tremendous asset to our board and executive team.  His dedication to people and process development has been instrumental.  We are grateful for his years of service and wish him well in his future endeavors,” said Jae Evans. 

Mr. McGuire, an attorney, retired in 2013 as the Director of Office of the Corporate Secretary and Assistant Secretary of The Dow Chemical Company. 

Isabella Bank Corporation (OTCQX: ISBA) is the parent holding company of Isabella Bank, a state chartered bank headquartered in Mt. Pleasant, Michigan. Isabella Bank was established in 1903 and has been committed to serving the local banking needs of its customers and communities for 116 years.  The Bank offers personal and commercial lending and deposit products, as well as investment, trust and estate planning services.  The Bank has 30 banking locations throughout seven Mid-Michigan counties: Clare, Gratiot, Isabella, Mecosta, Midland, Montcalm, and Saginaw. The Corporation has been recognized on the Detroit Free Press list of “Top Workplaces” for five years.

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) and its investor relations firm is Renmark Financial Communications, Inc. (www.renmarkfinancial.com).

Isabella Bank Corporation Announces Strong Earnings for Third Quarter 2019

10-24-2019

Consecutive Quarter for Record Earnings

Isabella Bank Corporation (the "Corporation") (OTCQX: ISBA), released its earnings results for the third quarter of 2019 reporting record net income of $4.4 million or earnings per common share of $0.56. Achievements in the third quarter of 2019 and the nine month period ended September 30, 2019 include:

  • 2% increase in third quarter net income compared to the third quarter of 2018
  • Second consecutive quarter for record earnings results
  • Loan growth of $15.2 million during the quarter and $63.1 million since year end 2018
  • Cash dividend yield of 7%

“We are very excited to share our record results for the third quarter of 2019,” stated Jae A. Evans, President and Chief Executive Officer of the Corporation. “While we benefited from some one-time financial events during the period, we continued to produce strong earnings results from our core operations which include offering competitive lending and deposit products. Additionally, we have placed considerable efforts into the management of our balance sheet as part of our strategy to grow the bottom line to benefit our customers and our shareholders.”

Net Income

Net income for the three and nine month periods ended September 30, 2019 was $4.4 million and $12.1 million, respectively. Net income for the same periods of 2018 was $3.7 million and $10.5 million, respectively. Net interest income for the three month period ended September 30, 2019 increased $323,000 when compared to the previous quarter and $423,000 when compared to the same period last year as a result of growth in the loan portfolio, improved yields, and less reliance on higher cost deposits and borrowings. Third quarter 2019 noninterest income increased $396,000, or 13.8%, from the same period last year, while third quarter 2019 noninterest expense decreased $467,000, or 4.2%, from the same period last year.

A combination of improved yields and growth in the loan portfolio over the past twelve months were large drivers of a $3.2 million increase in interest income for the first nine months of 2019 compared to the same period in 2018. Interest expense on deposits and borrowings increased $2.0 million for the nine month period ended September 30, 2019 when compared to the same period in 2018 primarily due to higher interest rates. Noninterest income increased $648,000 during the first nine months of 2019 when compared to the same period in 2018 as we experienced an increase in debit card transaction fees and gains related to foreclosed assets. Noninterest expenses for the first nine months of 2019 grew by less than 1% or $176,000 compared to the same period in 2018. Expenses related to employee compensation account for a portion of this increase, which was offset by an FDIC assessment credit received in September 2019, reduced audit and consulting fees, and ongoing cost control initiatives. These initiatives include managing employee turnover, capital expenditures and vendor costs.

The Corporation's fully taxable equivalent net yield on interest earning assets was 3.13% and 3.07% for the three and nine month periods ended September 30, 2019, respectively. This compares to 2.97% in both the three and nine month periods ended September 30, 2018. The Corporation's banking subsidiary, Isabella Bank (the "Bank"), has implemented various initiatives which, over time, are expected to continue to improve the net yield on interest earning assets. These initiatives included transitioning a larger percentage of assets from lower yielding investment securities to higher yielding loan opportunities, continued growth of the loan portfolio, reduced reliance on higher cost borrowings and brokered deposits, and enhanced pricing strategies related to loan and deposit products.

Assets

As of September 30, 2019, total assets were $1.8 billion and assets under management were $2.5 billion. Assets under management include loans sold and serviced of $258.9 million, and assets managed by Investment and Trust Services of $475.6 million. During the third quarter of 2018, assets managed by Investment and Trust Services reached an all-time high surpassing $500 million. While the value of these assets declined during the fourth quarter of 2018 due to a drop in the securities markets, assets managed by Investment and Trust Services rebounded $28.1 million or 6.3% during the first nine months of 2019 due to improvement in the market as well as new business.

As a result of the flat yield curve that has existed for several months, the opportunity to identify new investment securities for purchase at an acceptable yield has been limited. Therefore, the Bank's securities portfolio has declined by $49.3 million since the fourth quarter of 2018 as a result of sales and maturities. Based on strategic objectives, the Corporation has utilized this available cash flow to reduce borrowings as they mature and other high-cost funding sources, resulting in a decline in total assets as of September 30, 2019 when compared to December 31, 2018.

Loans

Loans grew $15.2 million during the third quarter of 2019 to $1.2 billion as of September 30, 2019. The loan portfolio has grown $63.1 million or 5.6% during the first nine months of 2019. This growth was largely driven by the commercial loan portfolio which increased $49.2 million. Also contributing to this growth was an increase in residential real estate and consumer loans totaling $22.6 million. While the portfolio did experience a decline of $8.7 million in agricultural related loans, this is reflective of seasonal trends within this business sector.

Deposits

Total deposits increased $27.4 million or 2.1% during the third quarter of 2019 to $1.3 billion as of September 30, 2019. This increase can largely be attributed to growth in savings and trust related deposits. Over the last year, the Bank has experienced growth in certificates of deposit, savings and demand deposit accounts as the result of strategic product pricing and a high level of customer service. In recent periods, excess liquidity was used to reduce high-cost deposits such as brokered certificates of deposit accounts.  During the past twelve months, brokered certificates of deposit accounts have declined $32.0 million or 37.7% which has improved the Bank's net interest margin.

Capital

The Bank continues to be designated as a “well capitalized” institution as its capital ratios exceeded the minimum requirements for this designation. As of September 30, 2019, the Bank’s Tier 1 Leverage Ratio was 8.5%, Tier 1 Capital Ratio was 11.7% and Total Capital Ratio was 12.3%. From a consolidated perspective, the Corporation's Tier 1 Leverage Ratio was 9.2%, Tier 1 Capital Ratio was 12.6% and Total Capital Ratio was 13.2% as of September 30, 2019.

Dividend

During the third quarter of 2019, the Corporation paid a $0.26 per common share cash dividend. Based on the Corporation's closing stock price of $22.30 as of September 30, 2019, the annualized cash dividend yield was 4.7%.

About the Corporation

Isabella Bank Corporation (OTCQX: ISBA) is the parent holding company of Isabella Bank, a state chartered bank headquartered in Mt. Pleasant, Michigan. Isabella Bank was established in 1903 and has been committed to serving the local banking needs of its customers and communities for 116 years.  The Bank offers personal and commercial lending and deposit products, as well as investment, trust and estate planning services.  The Bank has 30 banking locations throughout seven Mid-Michigan counties: Clare, Gratiot, Isabella, Mecosta, Midland, Montcalm, and Saginaw. The Corporation has been recognized on the Detroit Free Press list of “Top Workplaces” for five years.

For further information regarding Isabella Bank Corporation, please visit isabellabank.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.

Barber Joins Isabella Bank as Branch Manager in Midland

10-04-2019

Michael Colby, President of Isabella Bank East Region announced the appointment of Jessica Barber to Midland East Branch Manager. Jessica will manage the daily operations of the Midland East branch, while servicing the retail lending needs of the area including automobiles, campers, boats, and credit/debit reward cards.

“We are excited to have Jessica join our Isabella Bank team. She has a passion for building relationships within the community and making an impact where it matters most,” stated Colby.

Ms. Barber is a summa cum laude graduate of Northwood University – Business Management and the Rollie Dennison Leadership Institute (2017 and 2019). She has eleven years of banking management experience. Ms. Barber earned the 2018 Young Professional of the Year award from the Mount Pleasant Area Chamber of Commerce. She serves as the vice chair of the Young Professional Network — Mt. Pleasant, ambassador of the Mount Pleasant Area Chamber of Commerce, and is a former volunteer with Red Cross of Isabella County and Junior Achievement JA in a Day. Jessica and her husband, Eric, live in Midland. They have two daughters, Laila and Lilly.

Isabella Bank has 30 locations throughout seven Mid-Michigan counties and is a wholly owned subsidiary of Isabella Bank Corporation (OTCQX:ISBA). Isabella Bank Corporation has $2.5 billion in assets under management and more than 400 employees. For the past five years, the Corporation has been recognized on the Detroit Free Press list of “Top Workplaces.” To learn more, visit www.isabellabank.com.

LaFramboise Retires from Isabella Bank Corporation Board

09-06-2019

Jae A Evans, President and Chief Executive Officer of Isabella Bank Corporation, (ISBA), announced today that Mr. Joseph LaFramboise has retired from the Board of Directors after 12 years of loyal service. 

Mr. LaFramboise has served as a dedicated board member and ambassador of Isabella Bank since 2007, and member of the corporate board since 2010.  He also served as a member of the compensation and human resource committee, the audit committee, and the director loan committee.  Prior to serving on the Isabella Bank and corporate board of directors, Mr. LaFramboise served on the Mecosta regional advisory board for Isabella Bank.  He maintained his role on the regional advisory board throughout his 12 years of service.

“Joe has served with an unwavering dedication to our shareholders, board, and employees that will be missed.  His commitment to excellence will leave a positive impact throughout our organization for many years.  We are thankful for his years of service and wish him well in his future endeavors,” said Jae Evans. 

Mr. LaFramboise is a retired sales and marketing executive of Ford Motor Company.  He continues to serve Eagle Village in Evart, Michigan on their finance and facilities committee. 

Isabella Bank Corporation (OTCQX: ISBA) is the parent holding company of Isabella Bank, a state chartered bank headquartered in Mt. Pleasant, Michigan. Isabella Bank was established in 1903 and has been committed to serving the local banking needs of its customers and communities for 116 years.  The Bank offers personal and commercial lending and deposit products, as well as investment, trust and estate planning services.  The Bank has 30 banking locations throughout seven Mid-Michigan counties: Clare, Gratiot, Isabella, Mecosta, Midland, Montcalm, and Saginaw. The Corporation has been recognized on the Detroit Free Press list of “Top Workplaces” for five years.

Isabella Bank Corporation Announces Third Quarter 2019 Dividend

09-04-2019

Isabella Bank Corporation (OTCQX:ISBA), announced today that the Board of Directors of the Corporation declared a third quarter cash dividend of $0.26 per common share at its regular meeting held on August 28, 2019.  The dividend will be payable on September 30, 2019 to shareholders of record as of September 26, 2019.  Based on ISBA’s closing stock price of $22.25 per share as of August 28, 2019, the annual dividend yield is 4.67%.

“I am pleased to announce our Board approved a dividend of $0.26 per share for the third quarter,” commented Jae A. Evans, President and Chief Executive Officer of Isabella Bank Corporation. “We are committed to providing an attractive investment to our shareholders through dividends and strong financial results, as evidenced by our record earnings in the second quarter of this year.”

About the Corporation

Isabella Bank Corporation (OTCQX: ISBA) is the parent holding company of Isabella Bank, a state chartered bank headquartered in Mt. Pleasant, Michigan. Isabella Bank was established in 1903 and has been committed to serving the local banking needs of its customers and communities for 116 years.  The Bank offers personal and commercial lending and deposit products, as well as investment, trust and estate planning services.  The Bank has 30 banking locations throughout seven Mid-Michigan counties: Clare, Gratiot, Isabella, Mecosta, Midland, Montcalm, and Saginaw. The Corporation has been recognized on the Detroit Free Press list of “Top Workplaces” for five years.

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) and its investor relations firm is Renmark Financial Communications, Inc. (www.renmarkfinancial.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.

Isabella Bank Corporation Announces Record Earnings for Second Quarter 2019

08-01-2019

Isabella Bank Corporation (the "Corporation") (OTCQX: ISBA), released its earnings results for the second quarter of 2019. The Corporation reported record net income of $4.2 million or earnings per common share of $0.53 for the second quarter of 2019. Achievements in the second quarter of 2019 and the six month period ended June 30, 2019 include:

  • 7% increase in second quarter net income compared to the second quarter of 2018
  • Loan growth of $31.8 million during the quarter and $47.9 million since year end 2018
  • 9% growth in assets managed by Investment and Trust Services since year end 2018
  • Cash dividend yield of 5%

“We are very excited to share our record results for the second quarter of 2019,” stated Jae A. Evans, President and Chief Executive Officer of the Corporation. “Our continuous focus on attracting new customers, enhancing the Isabella Bank experience and growing the bottom line is benefiting our customers and our shareholders.”

Net Income

Net income for the three and six month periods ended June 30, 2019 was $4.2 million and $7.7 million, respectively. Net income for the same periods of 2018 was $3.3 million and $6.8 million, respectively. Net interest income for the three month period ended June 30, 2019 increased $99,000 when compared to the previous quarter and $316,000 when compared to the same period last year as a result of strong loan demand, improved yields, and less reliance on higher cost deposits and borrowings. Credit quality improvements resulted in a $179,000 negative loan loss provision expense during the second quarter of 2019, which was a $507,000 decrease from the same period last year. Second quarter 2019 noninterest income increased $271,000, or 9.9%, from the same period last year, while second quarter 2019 noninterest expense decreased $39,000 from the same period last year.

A combination of improved yields and growth in the loan portfolio over the past twelve months were large drivers of a $2.5 million increase in interest income for the first six months of 2019 compared to the same period in 2018. Interest expense on deposits and borrowings increased $1.7 million for the six month period ended June 30, 2019 when compared to the same period in 2018. Noninterest income increased $252,000 during the first six months of 2019 when compared to the same period in 2018 largely due to Investment and Trust advisory fees. Noninterest expenses for the first six months of 2019 exceeded noninterest expenses for the same period in 2018 by $643,000. Employee merit increases, loan expenses related to growth initiatives, and recent changes to incentive plans account for a significant portion of the increase.

The Corporation's fully taxable equivalent net yield on interest earning assets was 3.04% and 3.02% for the three and six month periods ended June 30, 2019, respectively. The Corporation has implemented various initiatives which, over time, are expected to improve the net yield on interest earning assets. These initiatives include transitioning a larger percentage of assets from lower yielding investment securities to higher yielding loan opportunities, continued growth of the loan portfolio, and enhanced pricing strategies related to loan and deposit products.

Assets

As of June 30, 2019, total assets were $1.8 billion and assets under management were $2.6 billion. Assets under management include loans sold and serviced, and assets managed by Investment and Trust Services. During the third quarter of 2018, assets managed by Investment and Trust Services reached an all-time high surpassing $500 million. While the value of these assets declined during the fourth quarter of 2018 due to a drop in the securities markets, assets managed by Investment and Trust Services rebounded $39.7 million or 8.9% during the first six months of 2019. As a result of the flat yield curve that has existed for several months, the opportunity to fund the purchase of new investment securities, with either new borrowings or excess liquidity, at an acceptable margin has been minimal. Consequently, the Corporation has utilized available cash flows to pay down maturing borrowings and other higher cost funding sources, resulting in a decline in total assets as of June 30, 2019 when compared to December 31, 2018.

Loans

Loans grew $31.8 million during the second quarter of 2019 to $1.2 billion as of June 30, 2019. The loan portfolio has grown $47.9 million or 4.2% during the first six months of the year. This growth was largely driven by the commercial loan portfolio which increased $42.4 million. Also contributing to this growth were increases in residential real estate and consumer loans of $12.3 million. While the portfolio did experience a decline of $6.8 million in agricultural related loans, this is reflective of seasonal trends within this business sector.

Deposits

Total deposits increased $3.5 million during the second quarter of 2019 to $1.3 billion as of June 30, 2019. This increase can largely be attributed to growth in demand deposits. Over the last year, the Corporation has experienced growth in certificates of deposit, savings and demand deposit accounts as the result of strategic product pricing and a high level of customer service. In recent periods, excess liquidity was used to reduce high-cost deposits such as brokered certificates of deposit accounts.  During the past twelve months, brokered certificates of deposit accounts have declined $29.1 million.

Capital

The Corporation's banking subsidiary, Isabella Bank (the "Bank"), continues to be designated as a “well capitalized” institution as its capital ratios exceeded the minimum requirements for this designation. As of June 30, 2019, the Bank’s Tier 1 Leverage Ratio was 8.4%, Tier 1 Capital Ratio was 11.6% and Total Capital Ratio was 12.2%. From a consolidated perspective, the Corporation's Tier 1 Leverage Ratio was 9.0%, Tier 1 Capital Ratio was 12.4% and Total Capital Ratio was 13.1% as of June 30, 2019.

Dividend

During the second quarter of 2019, the Corporation paid a $0.26 per common share cash dividend. Based on the Corporation's closing stock price of $23.25 as of June 28, 2019, the annualized cash dividend yield was 4.5%.

About the Corporation

Isabella Bank Corporation (OTCQX: ISBA) is the parent holding company of Isabella Bank, a state chartered bank headquartered in Mt. Pleasant, Michigan. Isabella Bank was established in 1903 and has been committed to serving the local banking needs of its customers and communities for 116 years.  The Bank offers personal and commercial lending and deposit products, as well as investment, trust and estate planning services.  The Bank has 30 banking locations throughout seven Mid-Michigan counties: Clare, Gratiot, Isabella, Mecosta, Midland, Montcalm, and Saginaw. The Corporation has been recognized on the Detroit Free Press list of “Top Workplaces” for the past five years.

For further information regarding Isabella Bank Corporation, please visit isabellabank.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.

Bliven promoted to Shepherd Branch Manager

06-07-2019

Jerome Schwind, President of Isabella Bank announced the promotion of Sarah Bliven to Shepherd Branch Manager. Sarah will manage the daily operations of the Shepherd branch, while servicing the retail lending needs of the area including automobiles, campers, boats, and credit cards.

“I am confident in Sarah’s caliber of customer service and pleased to have her lead the Shepherd team. Sarah’s personal dedication to her customers is impressive,” stated Schwind.

Ms. Bliven is a graduate of the Dale Carnegie Team Development Process, Isabella Bank’s Leadership Program, Michigan Bankers Association Supervisor Program, and several Isabella Bank training programs including Isabella University. She has eleven years of banking experience, most recently working in branch administration. Ms. Bliven enjoys volunteering her time with Junior Achievement, Rotary, and the Shepherd Area Chamber of Commerce. She is eager to get involved with the Shepherd Maple Syrup Festival Committee in 2020. Sarah and her husband, Steve, live in the Shepherd area. They have five children, Marina, Rachael, William, Jackie, and Jesse.

Isabella Bank has 30 locations throughout seven Mid-Michigan counties and is a wholly owned subsidiary of Isabella Bank Corporation (OTCQX:ISBA). Isabella Bank Corporation has $2.5 billion in assets under management and more than 400 employees. For the past five years, the Corporation has been recognized on the Detroit Free Press list of “Top Workplaces.” To learn more, visit www.isabellabank.com.

Isabella Bank Corporation Announces Second Quarter 2019 Dividend

06-03-2019

Isabella Bank Corporation (OTCQX:ISBA), announced today that the Board of Directors of the Corporation declared a second quarter cash dividend of $0.26 per common share at its regular meeting held on May 29, 2019. The dividend will be payable on June 28, 2019 to shareholders of record as of June 26, 2019. Based on ISBA’s closing stock price of $22.85 per share as of May 31, 2019, the annual dividend yield is 4.55%.

“I am pleased to announce our Board approved a dividend of $0.26 per share for the second quarter,” commented Jae A. Evans, President and Chief Executive Officer of Isabella Bank Corporation. “We are committed to providing an attractive investment to our shareholders through growth in earning assets, strong earnings results and continued dividends. We remain active in the market strategically purchasing ISBA stock through our publicly-announced share repurchase program and have implemented strategies to increase ISBA stock visibility within the market.”

About the Corporation

Isabella Bank Corporation (OTCQX: ISBA) is the parent holding company of Isabella Bank, a state chartered bank headquartered in Mt. Pleasant, Michigan. Isabella Bank was established in 1903 and has been committed to serving the local banking needs of our customers and communities for 116 years. The Bank offers personal and commercial lending and deposit products, as well as investment, trust and estate planning services. The Bank has 30 banking locations throughout seven Mid-Michigan counties: Clare, Gratiot, Isabella, Mecosta, Midland, Montcalm, and Saginaw. The Corporation employs more than 400 individuals and has been recognized on the Detroit Free Press list of “Top Workplaces” for the past five years.

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) and its investor relations firm is Renmark Financial Communications, Inc. (www.renmarkfinancial.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.

Isabella Bank Corporation Announces First Quarter 2019 Results

05-03-2019

Quarterly Dividend Yields 4.4%

Isabella Bank Corporation (the "Corporation") (OTCQX: ISBA), released its earnings results for the first quarter of 2019. The Corporation reported net income of $3.5 million or earnings per common share of $0.44 for the first quarter of 2019. Achievements in the first quarter of 2019 include:

  • 4.0% increase in net interest income compared to the first quarter of 2018
  • Loan growth of $16.1 million since year end 2018
  • 6.3% growth in assets managed by Investment and Trust Services compared to the prior quarter end
  • Cash dividend yield of 4.4%

“We are pleased to share our results for the first quarter of 2019,” stated Jae A. Evans, President and Chief Executive Officer of the Corporation. “We continue to strategically position our franchise to add to the bottom line. Opportunities to attract new customers and improve their Isabella Bank experience are critical to developing long term customer relationships which, in turn, enhances the overall value to our shareholders.”

Net Income

Net income for the three months ended March 31, 2019 and 2018 was $3.50 million and $3.46 million, respectively. A combination of improved yields and growth in our loan portfolio over the past twelve months, resulted in an increase of $1.4 million in interest income for the first three months of 2019 compared to the first quarter of 2018. We expect to see continued improvement in the overall yield of the loan portfolio in future quarters. Due to the rising interest rate environment throughout 2018, interest expense on deposits and borrowings increased $891,000 for the three month period ended March 31, 2019 when compared to the same period in 2018. Noninterest income was relatively flat for the first three months of 2019 when compared to the same period in 2018. However, noninterest expenses for the first three months of 2019 exceeded noninterest expenses for the same period in 2018 by $693,000. Additions to staff related to new positions in growing markets, as well as merit increases, and loan expenses related to growth initiatives, account for the increase.

Our fully taxable equivalent net yield on interest earning assets was 3.01% for the first three months of 2019. We have implemented various initiatives which, over time, are expected to improve the net yield on interest earning assets. These initiatives include shifting our asset mix to an increasing percentage of loans from investment securities, continued growth of the loan portfolio, and enhanced pricing strategies related to loan and deposit products.

Assets

As of March 31, 2019, total assets were $1.8 billion and assets under management were $2.5 billion. Assets under management include loans sold and serviced, and assets managed by Investment and Trust Services. In recent periods, assets managed by Investment and Trust Services reached an all-time high surpassing $500 million. While the value of these assets declined during the fourth quarter of 2018 due to a drop in the securities markets, assets managed by Investment and Trust Services rebounded $28.1 million or 6.3% during the first three months of 2019.

Loans

Loans outstanding as of March 31, 2019 totaled $1.1 billion. The loan portfolio grew $16.1 million or 1.4% during the first quarter of 2019. This growth was largely driven by the commercial loan portfolio which increased $18.0 million. Also contributing to this growth were increases in residential real estate and consumer loans of $1.9 million. The portfolio did experience a decline of $3.8 million in agricultural related loans; however, this is reflective of seasonal trends within this business sector.

Deposits

Total deposits decreased $14.7 million during the first quarter of 2019 to $1.3 billion as of March 31, 2019. This decline can largely be attributed to brokered certificates of deposit accounts, which were intentionally reduced utilizing excess liquidity to reduce high-cost funding. Conversely, over the last year, we've experienced growth in certificates of deposit, savings and demand deposit accounts as the result of product pricing and a high level of customer service.

Capital

Our banking subsidiary, Isabella Bank (the "Bank"), continues to be designated as a “well capitalized” institution as its capital ratios exceeded the minimum requirements for this designation. As of March 31, 2019, the Bank’s Tier 1 Leverage Ratio was 8.2%, Tier 1 Capital Ratio was 11.6% and Total Capital Ratio was 12.2%. From a consolidated perspective, our Tier 1 Leverage Ratio was 8.9%, Tier 1 Capital Ratio was 12.5% and Total Capital Ratio was 13.1% as of March 31, 2019.

Dividend

During the first quarter of 2019, we paid a $0.26 per common share cash dividend. Based on our closing stock price of $23.75 as of March 29, 2019, the annualized cash dividend yield was 4.4%.

About the Corporation

Isabella Bank Corporation (OTCQX: ISBA) is the parent holding company of Isabella Bank, a state chartered bank headquartered in Mt. Pleasant, Michigan. Isabella Bank was established in 1903 and has been committed to serving the local banking needs of our customers and communities for 116 years. The Bank offers personal and commercial lending and deposit products, as well as investment, trust and estate planning services. The Bank has 30 banking locations throughout seven Mid-Michigan counties: Clare, Gratiot, Isabella, Mecosta, Midland, Montcalm, and Saginaw. The Corporation employs more than 400 individuals and has been recognized on the Detroit Free Press list of “Top Workplaces” for the past five years.

For further information regarding Isabella Bank Corporation, please visit isabellabank.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.

Eling promoted to Market President

04-22-2019

Jerome Schwind, President of Isabella Bank announced the promotion of Josh Eling to West Market President. In his new role, Josh will oversee five branches in the area: Barryton, Big Rapids East, Big Rapids West, Canadian Lakes, and Remus. 

“Josh has been an asset for us since joining Isabella Bank.  His commitment to his customers, team, and the Mecosta area are evident and make him an excellent choice for the west market president.” stated Schwind.  “We look forward to the growth Josh will continue to bring to the Mecosta area.”

Josh earned his bachelor’s degree in accounting from Central Michigan University, a Master in Business Administration from Ferris State University, a graduate from Michigan Bankers Association (MBA) Perry School of Banking, and the Dale Carnegie Team Development Program. He is past president of the Big Rapids Rotary and the Mecosta County Area Chamber of Commerce. Josh and his wife, Christie, live in Big Rapids with their children, Emma and Parker.

Isabella Bank has 30 locations throughout seven Mid-Michigan counties and is a wholly owned subsidiary of Isabella Bank Corporation (OTCQX:ISBA). Isabella Bank Corporation has $2.5 billion in assets under management and more than 400 employees. For the past five years, the Corporation has been recognized on the Detroit Free Press list of “Top Workplaces.” To learn more, visit www.isabellabank.com.

Williams welcomed as Commercial Lender in the East Region

03-26-2019

Michael Colby, East Region President of Isabella Bank welcomes Mike Williams as Vice President, Commercial Lender. Mike will serve the commercial lending needs of the Great Lakes Bay Region.

“I am pleased to have Mike join our team. It is exciting to have someone with his caliber of commercial lending experience and network size represent us in the Great Lakes Bay Region. I am confident he will take great care of our customers,” stated Colby.

Williams is a graduate of Albion College, Leadership Midland, and Great Lakes Bay Region Alliance Leadership. Mike has 20 years of banking experience, spending the majority of his career in commercial lending and credit underwriting. He is actively involved in his community, volunteering with the Midland Noon Rotary, The Legacy Center for Community Success, United Way of Midland County, Midland Business Alliance, Greater Midland Community Center Operating Board, Midland Center for the Arts NextGen Council, Junior Achievement of Central Michigan, Midland Center City Project Committee, and Midland Girls Softball League. He is an avid outdoorsman, enjoys watching girls fast pitch softball, and college football. Mike and his wife, Amy, reside in Midland with their two daughters, Morgan and Caroline.  

Isabella Bank has 30 locations throughout seven Mid-Michigan counties and is a wholly owned subsidiary of Isabella Bank Corporation (OTCQX:ISBA). Isabella Bank Corporation has $2.5 billion in assets under management and more than 400 employees. For the past five years, the Corporation has been recognized on the Detroit Free Press list of “Top Workplaces.” To learn more, visit www.isabellabank.com.

Fussman promoted to Assistant Vice President

03-13-2019

Jerome Schwind, President of Isabella Bank announced the promotion of Suzi Fussman to Assistant Vice President effective January 1, 2019. As assistant vice president, Suzi will continue to perform a variety of daily accounting and financial reporting tasks.

“Suzi is very committed to her job, team, and the Bank. Her skills and experience are great assets to all of us at the Bank.” stated Schwind.

Fussman earned her associates degree in accounting from Mid-Michigan College and her bachelor degree from Northwood University. She is a graduate of the Dale Carnegie Team Development Program and is currently attending the Perry School of Banking at Michigan State University. Suzi has 30 years of banking experience, spending the last 20 years with Isabella Bank. Suzi and her husband, David, reside in Lake Isabella with their three children, Alexandria, Jacob, and Addison. Suzi enjoys camping, spending time with her family, and being actively involved in her children’s school activities.

Isabella Bank has 30 locations throughout seven Mid-Michigan counties and is a wholly owned subsidiary of Isabella Bank Corporation (OTCQX:ISBA). Isabella Bank Corporation has $2.5 billion in assets under management and more than 400 employees. For the past five years, the Corporation has been recognized on the Detroit Free Press list of “Top Workplaces.” To learn more, visit www.isabellabank.com.

Hopkins promoted to Commercial Credit Officer

02-28-2019

Jerome Schwind, President of Isabella Bank announced the promotion of Kelly Hopkins to Commercial Credit Officer effective January 1, 2019. As commercial credit officer, Kelly will continue to manage the daily operations of the commercial credit department.

“Kelly’s dedication to continuous improvement and teamwork shows each day. She has a strong commitment to her team, the Bank, and the community.” stated Schwind

Hopkins earned her bachelor’s degree from Central Michigan University. Kelly graduated from Perry School of Banking at Michigan State University where she earned the Outstanding Student Award. During her tenure at Isabella Bank, she completed the Dale Carnegie Team Development Program. She has been in banking nine years, working as an accountant for two years, and spending the last seven years in commercial credit. Kelly serves her community in many ways. Most recently, she served as Treasurer for the Isabella County Child Advocacy Center and coaching Girls on the Run. Kelly and her husband, Jonathan, reside in Mount Pleasant with their two dogs.

Isabella Bank has 30 locations throughout seven Mid-Michigan counties and is a wholly owned subsidiary of Isabella Bank Corporation (OTCQX:ISBA). Isabella Bank Corporation has $2.5 billion in assets under management and more than 400 employees. For the past five years, the Corporation has been recognized on the Detroit Free Press list of “Top Workplaces.” To learn more, visit www.isabellabank.com.

Watson Welcomed as Trust Advisor in the East Division

02-28-2019

Jerome Schwind, President of Isabella Bank welcomes Tricia Watson as Trust Advisor. Tricia will serve the trust and estate needs of customers in the Great Lakes Bay Region.

“I am pleased to have Tricia join our Trust team. It is exciting to have someone with her caliber of trust knowledge represent us in the Great Lakes Bay Region. I am confident she will take great care of our customers and their families,” stated Schwind.

Watson earned her associates degree from Mott Community College and her bachelors of business administration from Northwood University. She is an Accredited Fiduciary Investment Manager from Cannon Financial Institute and a Certified Fund Specialist from the Institute of Business and Finance. Tricia has 27 years of banking experience, spending the last 25 years in the trust area.

Isabella Bank has 30 locations throughout seven Mid-Michigan counties and is a wholly owned subsidiary of Isabella Bank Corporation (OTCQX:ISBA). Isabella Bank Corporation has $2.6 billion in assets under management and more than 400 employees. For the past five years, the Corporation has been recognized on the Detroit Free Press list of “Top Workplaces.” To learn more, visit www.isabellabank.com.

Vondette promoted to Commercial Loan Officer

02-28-2019

Jerome Schwind, President of Isabella Bank announced the promotion of Justin Vondette to Commercial Loan Officer effective January 1, 2019. As commercial loan officer, Justin will continue to service the commercial lending needs of the Great Lakes Bay Region.

“Justin has continued to grow in the financial industry. He is committed to his community, understanding his customers’ needs and being a trusted advisor,” stated Schwind.  

Vondette earned his bachelor’s degree from Saginaw Valley State University. Justin graduated from the Michigan Bankers Association Commercial Lending School, Midwest Agricultural Banking School, and Dale Carnegie Team Development and Trusted Advisor Programs. He is currently attending Leadership Saginaw. Justin has six years of banking experience; he spent three years enjoying commercial credit analysis, and spending the next three years in commercial lending. Justin volunteers his free time with the Midland and Saginaw Young Professionals Network, United Way, and Habitat for Humanity. He resides in Shields and looks forward to continuing to serve the Great Lakes Bay Region.

Isabella Bank has 30 locations throughout seven Mid-Michigan counties and is a wholly owned subsidiary of Isabella Bank Corporation (OTCQX:ISBA). Isabella Bank Corporation has $2.5 billion in assets under management and more than 400 employees. For the past five years, the Corporation has been recognized on the Detroit Free Press list of “Top Workplaces.” To learn more, visit www.isabellabank.com.

Schroeder promoted to Mortgage Loan Officer

02-28-2019

Jerome Schwind, President of Isabella Bank announced the promotion of Sue Schroeder to Mortgage Loan Officer effective January 1, 2019. Sue will continue to work with people in the Canadian Lakes area for their mortgage, refinancing, or home equity needs.

“Sue is dedicated to her customers and the mortgage industry. Her skills and experience not only are an asset to the Bank, they help people get into their homes,” stated Schwind.

Schroeder earned her bachelor’s degree from Ferris State University. Sue is a graduate of Perry School of Banking at Central Michigan University, Dale Carnegie Team Development and Trusted Advisor Programs, and Leadership Mecosta. She has been a Mortgage Lender for 16 years. Sue actively serves her community at the Mecosta Senior Center, God’s Helping Hands, and a member of the Mecosta County Chamber. Sue and her husband, Brad, reside in Barryton. Sue has two children, Haley and Michael Mercer.

Isabella Bank has 30 locations throughout seven Mid-Michigan counties and is a wholly owned subsidiary of Isabella Bank Corporation (OTCQX:ISBA). Isabella Bank Corporation has $2.5 billion in assets under management and more than 400 employees. For the past five years, the Corporation has been recognized on the Detroit Free Press list of “Top Workplaces.” To learn more, visit www.isabellabank.com.

Bramer promoted to Agricultural Loan Officer

02-28-2019

Jerome Schwind, President of Isabella Bank announced the promotion of Marisa Bramer to Agricultural Loan Officer effective January 1, 2019. As agricultural loan officer, Marisa will continue to serve the agricultural needs of Breckenridge and surrounding areas.

“I am very proud of Marisa’s dedication to serving the agricultural lending needs of her community. Marisa’s strong commitment to serving her community along with her dedication to the financial industry is impressive,” stated Schwind.  

Bramer earned her bachelor’s degree from Michigan State University. During her tenure at Isabella Bank, she has completed the Dale Carnegie Team Development and Trusted Advisor Programs. She is a graduate of the Michigan Farm Bureau ProFILE Leadership Program. Marisa has 14 years of banking experience, spending nine years in credit underwriting, and four years in lending. She is very active with Gratiot County Farm Bureau and Michigan Farm Bureau, the Gratiot County Chamber of Commerce, Michigan Agriculture Environmental Assurance Program, and Breckenridge Public Schools. Marisa and her husband, Scott, have two children, Sophia and Isaac. They reside in Merrill.

Isabella Bank has 30 locations throughout seven Mid-Michigan counties and is a wholly owned subsidiary of Isabella Bank Corporation (OTCQX:ISBA). Isabella Bank Corporation has $2.5 billion in assets under management and more than 400 employees. For the past five years, the Corporation has been recognized on the Detroit Free Press list of “Top Workplaces.” To learn more, visit www.isabellabank.com.

Steib promoted to Freeland Branch Officer

02-27-2019

Jerome Schwind, President of Isabella Bank announced the promotion of Harry Steib to Freeland Branch Officer effective January 1, 2019. As branch officer, Harry will continue to manage the daily operations of the Freeland branch, while servicing the retail lending needs of the Freeland area.

“I am thankful for Harry’s involvement and dedication to the Freeland community and our Bank. He cares for his team and customers. He truly is a trusted advisor for the Freeland community,” stated Schwind.

Steib earned his bachelor’s degree from Central Michigan University. He graduated from the Perry School of Banking at Michigan State University and completed the Dale Carnegie Team Development and Trusted Advisor Programs. Steib actively serves his community as vice president of the Freeland Chamber, 2nd vice president of the Freeland Lions Club, and board member of Junior Achievement, and Saginaw Community Reinvestment Act Banker Forum. Harry and his wife, Cathy, have two sons, Tyler and Quinton. They reside in Freeland.

Isabella Bank has 30 locations throughout seven Mid-Michigan counties and is a wholly owned subsidiary of Isabella Bank Corporation (OTCQX:ISBA). Isabella Bank Corporation has $2.5 billion in assets under management and more than 400 employees. For the past five years, the Corporation has been recognized on the Detroit Free Press list of “Top Workplaces.” To learn more, visit www.isabellabank.com.

Acker promoted to Collections Officer

02-25-2019

Jerome Schwind, President of Isabella Bank announced the promotion of Tama Acker to Collections Officer effective January 1, 2019. Acker will continue to create debt solutions and work with customers on repayment plans.

“I am proud of Tama’s dedication to our customers and Isabella Bank. She is committed to helping our customers find financial solutions that fit their need or situation,” stated Schwind.

Acker earned her associate’s degree in accounting from Davenport University. She started her banking career in 1979 in Austin, Texas prior to moving to Michigan. She has been with Isabella Bank since 2001. Tama and her husband, David, reside in Wheeler. They have two grown daughters and one granddaughter.

Isabella Bank has 30 locations throughout seven Mid-Michigan counties and is a wholly owned subsidiary of Isabella Bank Corporation (OTCQX:ISBA). Isabella Bank Corporation has $2.5 billion in assets under management and more than 400 employees. For the past five years, the Corporation has been recognized on the Detroit Free Press list of “Top Workplaces.” To learn more, visit www.isabellabank.com.

Mease promoted to Senior Vice President HR

02-21-2019

Jerome Schwind, President of Isabella Bank announced the promotion of Patrick Mease to Senior Vice President of Human Resources effective January 1, 2019. As senior vice president of human resources, Patrick will continue to oversee the daily operations of the human resources department and organizational development of the Bank.

“Over the last several years, Patrick has continued to grow into a strong leader. I am proud of his commitment to continuously improve himself, his team, and the organization,” stated Schwind.

Patrick earned his bachelor’s and master’s degrees from Central Michigan University. During his tenure at Isabella Bank, he has completed the Dale Carnegie Team and Executive Development Programs. He has earned two prestigious designations within the human resources industry, Senior Professional in Human Resources and Society for Human Resource Management Senior Certified Professional. Mease has 18 years of banking experience, 15 of those serving in HR. He is a member of the Mount Pleasant Optimist Club. Patrick and his wife, Michelle, have two children, Grace and Sam. They reside in Mount Pleasant.

Isabella Bank has 30 locations throughout seven Mid-Michigan counties and is a wholly owned subsidiary of Isabella Bank Corporation (OTCQX:ISBA). Isabella Bank Corporation has $2.6 billion in assets under management and more than 400 employees. For the past five years, the Corporation has been recognized on the Detroit Free Press list of “Top Workplaces.” To learn more, visit www.isabellabank.com.

Barz Retires from Isabella Bank Corporation Board

02-08-2019

Jae A Evans, President and Chief Executive Officer of Isabella Bank, (ISBA), announced today that Richard (Rick) J. Barz has retired from the Board of Directors after 18 years of dedicated service.

“Rick has served as a loyal steward of our brand for several years. We are thankful to Rick for his commitment and ongoing guidance. Rick’s experience, involvement, and deep understanding of community banking have been instrumental in the success of the Bank,” stated Evans.

Barz, retiring from Isabella Bank in January 2014, spent his entire career at Isabella Bank, the last several years of his tenure as President and CEO. Barz said his 46 years with Isabella Bank were very rewarding. “I 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,” stated Barz.

Barz is currently a member of the Middle Michigan Development Corporation Board, Union Township Economic Development Authority, New Venture Competition mentor and advisor at Central Michigan University, and active member of the Mount Pleasant Community Church. Rick and his wife, Mary, reside in Mount Pleasant.

Isabella Bank has 30 locations throughout seven Mid-Michigan counties and is a wholly owned subsidiary of Isabella Bank Corporation (OTCQX:ISBA). Isabella Bank Corporation has $2.6 billion in assets under management and more than 400 employees. For the past five years, the Corporation has been recognized on the Detroit Free Press list of “Top Workplaces.” To learn more, visit www.isabellabank.com.

Graebner promoted to Commercial Officer

02-06-2019

Brian Goward, Isabella Bank President – Breckenridge Division, announced the promotion of Alicia Graebner to Commercial Loan Officer effective January 1, 2019. In her new role, Alicia will serve the lending needs of the commercial and agricultural customers in Breckenridge and the surrounding areas.

“Alicia is an asset to the Breckenridge and Hemlock community,” stated Goward. “Her passion for the community, local businesses, and the ag community make her a great fit for our customers.”

Alicia earned her bachelor’s degree from Northwood University. She is a graduate of the Dale Carnegie Team Development Program, Wisconsin Bankers Association Agricultural Lending School, and Isabella Bank’s Professional Development Program. She has been in banking since 2014, working as a financial analyst and commercial credit analyst. Alicia enjoys volunteering her time as the Vice President of the Hemlock Business Association and Financial Literacy Volunteer for Junior Achievement. Alicia and her husband, Steven, reside in Freeland. They are members of the Zion Lutheran Church of Freeland, and enjoy spending time with their two dogs, traveling, snowboarding, and Michigan summers.

Isabella Bank has 30 locations throughout seven Mid-Michigan counties and is a wholly owned subsidiary of Isabella Bank Corporation (OTCQX:ISBA). Isabella Bank Corporation has $2.6 billion in assets under management and more than 400 employees. For the past four years, the Corporation has been recognized on the Detroit Free Press list of “Top Workplaces.” To learn more, visit www.isabellabank.com.

Scoby promoted to Assistant Vice President, Commercial Loans

03-08-2018

Jerome Schwind, President of Isabella Bank announced the promotion of Paul Scoby to Assistant Vice President, Commercial Loans and Business Development.

Scoby earned his bachelor of science in business administration from Central Michigan University. He has also graduated from the Dale Carnegie Team Development and High Impact Leadership programs, Rollie Denison Leadership Institute, Leadership Mecosta, and the Michigan Bankers Association Perry School of Banking. Scoby joined Isabella Bank in 2001. He serves his community as a Mount Pleasant Chamber of Commerce Ambassador, Junior Achievement classroom volunteer, Mount Pleasant Parks & Recreation youth sports coach and as a Kids Hope USA mentor. He is also actively involved as a member of the First Baptist Church of Mount Pleasant. Paul and his wife, Sarah, reside in Mount Pleasant with their two children.

Isabella Bank has 29 locations and a loan production office throughout seven Mid-Michigan counties and is a wholly owned subsidiary of Isabella Bank Corporation (OTCQX:ISBA).  Isabella Bank Corporation has $2.53 billion in assets under management and more than 400 employees. For the past four years, the Corporation has been recognized on the Detroit Free Press list of “Top Workplaces.”  To learn more, visit www.isabellabank.com.

400 Employees Volunteer with Local Organizations

10-02-2018

Isabella Bank employees are turning their Compassion into Action on Monday, October 8. All Isabella Bank locations will be closed to allow employees to volunteer with one of two local organizations, Habitat for Humanity of Saginaw-Shiawassee Counties or United Way of Montcalm-Ionia Counties.

Volunteering and giving back is part of the culture at Isabella Bank. In 2017, employees donated over 8200 hours to 560 different organizations across the Isabella Bank footprint. The idea to dedicate an entire day to making a positive difference came after recognizing the incredible impact employees make locally. Allowing all employees to get involved empowers their sense of purpose and makes them feel more connected to neighbors and community.

Over 400 employees have selected one of two community service projects.

  • The Habitat for Humanity project participants will work on revitalizing Bliss Park and several area Habitat for Humanity homes within Saginaw County. Teams will be renovating 14 area properties. Work will include cleaning out vacant homes, painting, and cleaning up yards.
  • The United Way project participants will help assemble food packs for the hungry. Work to include sorting, packing, and loading 50,000 meals for the hungry in Montcalm, Isabella, and Mecosta Counties in partnership with the Michigan Food Bank.

“I am thrilled with the level of commitment and enthusiasm we are receiving from our employees,” commented Jae Evans, CEO of Isabella Bank. “Our employees are dedicated to giving back to the community, and I look forward to the impact they will make.”

Isabella Bank ATMs, online, mobile, and telephone banking are all available 24/7. All locations will re-open with regular business hours on Tuesday, October 9.

About Isabella Bank

Isabella Bank has 30 locations throughout seven Mid-Michigan counties and is a wholly owned subsidiary of Isabella Bank Corporation (OTCQX:ISBA). Isabella Bank Corporation has $2.53 billion in assets under management and more than 400 employees. For the past five years, the Corporation has been recognized on the Detroit Free Press list of “Top Workplaces.” To learn more, visit www.isabellabank.com.

About Saginaw - Shiawassee Habitat for Humanity

Saginaw-Shiawassee Habitat for Humanity is part of a global, nonprofit housing organization founded on Christian principles that seeks to put God’s love into action by building homes, communities and hope. Saginaw-Shiawassee Habitat for Humanity is dedicated to eliminating substandard housing locally and worldwide through constructing, rehabilitating, repairing, and preserving homes; by advocating for fair and just housing policies and by providing training and access to resources to help families improve their shelter conditions.  Habitat for Humanity was founded on the conviction that every man, woman and child should have a simple, decent place to live in dignity and safety, and that decent shelter in decent communities should be a matter of conscience and action for all.

About United Way Montcalm-Ionia Counties

United Way Montcalm – Ionia County is committed to being a good steward of the community and to be a catalyst for change that mobilizes a caring community to improve people’s lives. United Way Montcalm – Ionia Counties envisions a community united to create better opportunities where everyone achieves their potential through quality education, financial stability, and healthy lifestyles. United Way Montcalm – Ionia Counties provides leadership and resources to improve the quality of life in our community by generating revenue, creating awareness and engaging volunteers to support the programs and services of our affiliate agency partners.

Colthorp promoted to Assistant Vice President, Hemlock

03-08-2018

Brian Goward, Breckenridge Division President of Isabella Bank announced the promotion of Nora Colthorp to Assistant Vice President of the Hemlock branch. Nora is responsible for overseeing the Hemlock branch operations and servicing consumer and commercial loan needs. 

Colthorp earned her bachelor’s degree in business administration from Central Michigan University.  She graduated from the Michigan Bankers Association Branch Manager Program and several Dale Carnegie Programs.  Currently, she is attending the Perry School of Banking at Michigan State University.  Colthorp joined Isabella Bank in 1996.  Previously, she served as a mortgage processor, underwriter, loan officer, and most recently, branch manager.  Colthorp is actively involved in her community serving as the Hemlock Lions Club treasurer, Hemlock Business Association vice president, Lafayette Township board member, and treasurer for the Breckenridge Community Schools Board. Nora and her husband, Dave, reside in Breckenridge.  They have two children.

Isabella Bank has 29 locations and a loan production office throughout seven Mid-Michigan counties and is a wholly owned subsidiary of Isabella Bank Corporation (OTCQX:ISBA).  Isabella Bank Corporation has $2.53 billion in assets under management and more than 400 employees. For the past four years, the Corporation has been recognized on the Detroit Free Press list of “Top Workplaces.”  To learn more, visit www.isabellabank.com.

Vondette promoted to Saginaw and Midland Commercial Lender

03-07-2018

Michael Colby, President of Isabella Bank East Division announced the promotion of Justin Vondette to Commercial Lender for Saginaw and Midland.

Vondette earned his bachelor’s degree in business administration from Saginaw Valley State University. He is a graduate of the Michigan Bankers Association Commercial Lending School, Midwest Agricultural Banking School, and completed the Dale Carnegie Trusted Advisor Program.

Vondette has been with Isabella Bank since 2012, serving as a commercial credit analyst, commercial and ag lender. Vondette volunteers his time with United Way and is eager to get involved in the Midland and Saginaw Young Professionals.  He resides in Shields.

Isabella Bank has 29 locations and a loan production office throughout seven Mid-Michigan counties and is a wholly owned subsidiary of Isabella Bank Corporation (OTCQX:ISBA).  Isabella Bank Corporation has $2.53 billion in assets under management and more than 400 employees. For the past four years, the Corporation has been recognized on the Detroit Free Press list of “Top Workplaces.”  To learn more, visit www.isabellabank.com.

Matthews named Chief Credit Officer

02-16-2018

Jerome Schwind, President of Isabella Bank announced the promotion of Greg Matthews to Chief Credit Officer. 

Matthews earned his bachelor’s degree in business administration from Saginaw Valley State University and graduated from the Graduate School of Banking at Louisiana State University and the Dale Carnegie Team Development Program.  Matthews joined Isabella Bank in 2013, serving as their Commercial Credit Administrator.  He has been in the banking industry for 31 years, spending 20 years in commercial lending and 11 years in credit administration.  Greg resides in Mount Pleasant, with his wife, Charlene.

Isabella Bank has 29 locations and a loan production office throughout seven Mid-Michigan counties and is a wholly owned subsidiary of Isabella Bank Corporation (OTCQX:ISBA).  Isabella Bank Corporation has $2.53 billion in assets under management and more than 400 employees. For the past four years, the Corporation has been recognized on the Detroit Free Press list of “Top Workplaces.”  To learn more, visit www.isabellabank.com.

 

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