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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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