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Isabella Bank Corporation Announces Fourth Quarter 2020 Dividend

11-30-2020

Isabella Bank Corporation (OTCQX:ISBA) announced today that the Board of Directors of the Corporation declared a fourth quarter cash dividend of $0.27 per common share at its regular meeting held on November 24, 2020.  The dividend will be payable on December 18, 2020 to shareholders of record as of December 16, 2020.  Based on ISBA’s closing stock price of $19.05 per share as of November 27, 2020, the annualized cash dividend yield was 5.67%.

“I am pleased to announce our Board approved a dividend of $0.27 per share for the fourth quarter.  Our continued financial strength, as evidenced by our results through the third quarter, provides us the ability to reward shareholders with an attractive return on their investment as evidenced by the 5.67% annualized yield," commented Jae A. Evans, President and Chief Executive Officer of Isabella Bank Corporation. “We are looking ahead and strategically preparing for the continued strength and stability of our organization, while we continue to assist our customers during these unusual times.”

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 117 years. The Bank offers personal and commercial lending and deposit products, as well as investment, trust and estate planning services through Isabella Wealth. The Bank has 30 banking locations throughout seven Mid-Michigan counties: Clare, Gratiot, Isabella, Mecosta, Midland, Montcalm, and Saginaw.

For more information about Isabella Bank Corporation, visit the Invest in Us 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 Announces Making Spirits Bright Campaign
Nominate someone in need to receive one of seven $500 gift cards

11-23-2020

Jerome Schwind, President of Isabella Bank is pleased to announce their “Making Spirits Bright” holiday campaign.  From November 23 through December 14, visit www.isabellabank.com/MakingSpiritsBright to nominate a friend or family member that needs a little light this holiday season.  Isabella Bank is giving a $500 gift card to seven nominated families across their footprint.

“This year has been challenging for so many and we want to help add a little light to our community, especially this time of year,” stated Schwind. “The holiday season is a time for us to reflect and help make spirits brighter.”

Nominations will be accepted through December 14, 2020.  Drawing will be held on December 15, 2020.  Winners will be notified by phone/email.  No purchase necessary. Employees are ineligible.  Eligible nominations must be a resident of Clare, Gratiot, Isabella, Mecosta, Midland, Montcalm, or Saginaw counties.

Isabella Bank was established in 1903 and has been committed to serving the local banking needs of its customers and communities for 117 years.  The Bank offers personal and commercial lending and deposit products, as well as investment, trust and estate planning services through Isabella Wealth. 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.”

Isabella Bank Corporation (OTCQX: ISBA) is the parent holding company of Isabella Bank, a state chartered bank headquartered in Mt. Pleasant, Michigan.  Isabella Bank Corporation common stock is quoted on the OTCQX tier of the OTC Markets Group, Inc.’s

Ritchie Joins Isabella Bank as Midland East Branch Manager

11-06-2020

Michael Colby, East Region President of Isabella Bank is pleased to welcome Ms. Kimberly Ritchie as Branch Manager of the Midland East location at 210 South Saginaw Road.  As branch manager, Ms. Ritchie will manage the daily operations of the branch, while servicing the retail lending needs of the area including automobiles, campers, boats, and snowmobiles.

“We are excited to have Kimberly join our Isabella Bank team.  She has extensive banking experience, paired with a passion for helping others and her community – we couldn’t be happier,” stated Colby. 

Ms. Ritchie is a graduate of Walsh College of Accountancy and Business.  She has 28 years of banking experience, including financial planning and lending.  Ms. Ritchie served on the American Red Cross, Three Rivers Chamber, and Otsego/Plainwell Chamber.  Kimberly has relocated and is now residing in Midland.  She is looking forward to getting involved in the Midland community.  She has one adult son and one grandson.

Isabella Bank was established in 1903 and has been committed to serving the local banking needs of its customers and communities for 117 years.  The Bank offers personal and commercial lending and deposit products, as well as investment, trust and estate planning services through Isabella Wealth. 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.”

Isabella Bank Corporation (OTCQX: ISBA) is the parent holding company of Isabella Bank, a state chartered bank headquartered in Mt. Pleasant, Michigan.  Isabella Bank Corporation common stock is quoted on the OTCQX tier of the OTC Markets Group, Inc.’s

Isabella Bank Corporation Announces Third Quarter 2020 Earnings

10-22-2020

Strategy Delivers Increased Liquidity and Capital

Isabella Bank Corporation (the "Corporation") (OTCQX: ISBA) released its earnings results for the third quarter of 2020. The Corporation reported net income of $4.4 million and earnings per common share of $0.55 for the third quarter of 2020.

“For the first time in the history of the Corporation, we came very close to reaching a milestone of $2 billion in assets this quarter,” stated Jae A. Evans, President and Chief Executive Officer of the Corporation. “While we continue to assist our customers and communities through these challenging times,” he added, “our focus on growing the organization, improving key financial metrics and maintaining strong credit quality, remains a priority to achieve our long term strategic goals. Our high levels of liquidity and capital put us in a position to meet the uncertain economic challenges on the horizon.”

Third quarter 2020 highlights include:

  1. Record assets of $1.97 billion
  2. Loan payment deferrals decreased 67.8% to $98.7 million, or 7.6% of gross loans
  3. Deposit growth of $54.4 million, or 4%
  4. Noninterest income increased $786,000, or 24%, compared to the third quarter of 2019

 

Net Income

Net income for the third quarter of 2020 and nine-month period ended September 30, 2020 was $4.4 million and $11.6 million, respectively. Net income for the third quarter of 2019 and nine-month period ended September 30, 2019 was $4.4 million and $12.1 million, respectively.

Net interest income decreased by $114,000 for the third quarter compared to the same period in 2019. For the three months ended September 30, 2020, provision for loan losses increased by $323,000 compared to the same period last year as a result of increased economic and environmental risk factors, predominantly driven by the COVID-19 pandemic. Third quarter 2020 noninterest income increased $786,000 from the same period in 2019, mainly as a result of net gain on the sale of mortgage loans. Third quarter 2020 noninterest expense increased $330,000 from the same period last year primarily due to a $440,000 FDIC assessment credit recognized during the third quarter of 2019.

In the first quarter of 2020, the Federal Reserve Bank reduced short-term interest rates 150 basis points. This decline in interest rates largely drove a $2.7 million decrease in interest income for the first nine months of 2020 compared to the same period in 2019. Interest expense on deposits and borrowings decreased $2.4 million for the nine-month period ended September 30, 2020 compared to the same period in 2019 primarily due to less reliance on higher-cost borrowings and reduced interest rates. Net interest income decreased by $285,000 for the nine-month period ended September 30, 2020 compared to the same period in 2019. The provision for loan losses increased by $1.4 million for the nine-month period ended September 30, 2020 compared to the same period in 2019 as the result of increased economic and environmental risk factors, predominantly driven by the COVID-19 pandemic. Noninterest income increased $1.5 million during the first nine months of 2020 compared to the same period in 2019, mainly a result of net gain on the sale of mortgage loans and gains from the redemption of corporate owned life insurance policies. Noninterest expenses for the first nine months of 2020 exceeded the same period in 2019 by $437,000, primarily due to an FDIC assessment credit recognized during the third quarter of 2019. While this was a 1.4% increase, noninterest expenses year over year were essentially flat when considering the FDIC assessment credit.

The Corporation's fully taxable equivalent net yield on interest earning assets was 2.89% and 2.93% for the three and nine-month periods ended September 30, 2020, respectively. This compares to 3.13% and 3.07% for the three and nine-month periods ended September 30, 2019. The Corporation's banking subsidiary, Isabella Bank (the "Bank"), implemented strategic programs last year to improve the net yield on interest earning assets, which includes enhanced pricing related to loans and deposits and a reduced reliance on higher-cost borrowed funds and brokered deposits as funding sources. While these efforts have helped, the current interest rate environment has had a negative impact on the yields of interest earning assets and future improvement is expected to be gradual.

Assets

As of September 30, 2020, total assets were $1.97 billion and assets under management were $2.7 billion. Assets under management included loans sold and serviced of $289.5 million, investment and trust assets managed by Isabella Wealth of $403.7 million, in addition to assets on the consolidated balance sheet.

The Bank's securities portfolio has declined by $66.8 million since December 31, 2019, primarily as a result of maturities and sales of available-for-sale securities based on the Bank's strategic objectives. The Bank utilized this available cash flow to reduce higher-cost funding sources and other borrowings as they matured, which strengthened its liquidity position. Borrowed funds have declined $37.7 million since December 31, 2019 and $39.0 million since September 30, 2019.

Loans

Loans outstanding as of September 30, 2020, totaled $1.3 billion. During the first nine months of 2020, gross loans increased $116.7 million.  Driven by $99.5 million of Paycheck Protection Program ("PPP") loans, the commercial loan portfolio grew $120.2 million. During this same period, the agricultural loan portfolio declined $14.7 million while residential real estate and consumer loan portfolios experienced growth totaling $11.2 million.

The Bank experienced a 67.8% decline in the amount of COVID-19 related loan payment deferrals during the third quarter.  Loan payment deferrals decreased to $98.7 million, or 7.6% of gross loans, as of September 30, 2020 compared to $306.1 million, or 23.8%, as of June 30, 2020.  The majority of borrowers granted loan payment deferrals had reverted back to contractual payments as of September 30, 2020.

Deposits

Total deposits increased $181.2 million during the first nine months of 2020 to $1.5 billion and grew $186.3 million over the last twelve months. This increase was primarily attributed to deposits from borrowers participating in the PPP loan program and government stimulus funds. Over the past year, excess funds were used to reduce higher-cost deposits such as brokered certificates of deposit balances. Since September 30, 2019, the Bank reduced brokered certificates of deposits $38.7 million, or 73%, which was favorable to the Bank's net interest margin.

Liquidity

The Corporation's liquidity position remains strong as evidenced by its $495 million of cash and funds availability as of September 30, 2020. This reserve is comprised of $166 million in cash and cash equivalents, $151 million in available lines of credit and approximately $178 million in unencumbered investment securities.

Capital

The Bank is designated as a “well capitalized” institution, as its capital ratios exceeded the minimum requirements for this designation. As of September 30, 2020, the Bank’s Tier 1 Leverage Ratio was 8.4%, Tier 1 Capital Ratio was 12.2% and Total Capital Ratio was 13.0%. From a consolidated perspective, the Corporation's Tier 1 Leverage Ratio was 8.8%, Tier 1 Capital Ratio was 12.9% and Total Capital Ratio was 13.6% as of September 30, 2020.

Dividend

During the third quarter of 2020, the Corporation paid a $0.27 per common share cash dividend, an increase of 3.8% compared to the third quarter of 2019. Based on the Corporation's closing stock price of $16.74 as of September 30, 2020, the annualized cash dividend yield was 6.5%.

About the Corporation

Isabella Bank Corporation (OTCQX: ISBA) is the parent holding company of Isabella Bank, a state chartered community 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 117 years. The Bank offers personal and commercial lending and deposit products, as well as investment, trust, and estate planning services through Isabella Wealth. The Bank has 30 banking locations throughout seven Mid-Michigan counties: Clare, Gratiot, Isabella, Mecosta, Midland, Montcalm, and Saginaw.

For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com. Isabella Bank Corporation common stock is quoted on the OTCQX tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.” The Corporation's market maker is Boenning & Scattergood, Inc. (www.boenninginc.com) 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 Corporation Announces Third Quarter 2020 Dividend

9-01-2020

Isabella Bank Corporation (OTCQX:ISBA) announced today that the Board of Directors of the Corporation declared a third quarter cash dividend of $0.27 per common share at its regular meeting held on August 26, 2020.  The dividend will be payable on September 30, 2020 to shareholders of record as of September 28, 2020.  Based on ISBA’s closing stock price of $16.30 per share as of August 31, 2020, the annualized cash dividend yield was 6.63%.

“I am pleased to announce our Board approved a dividend of $0.27 per share for the third quarter which represents a 3.85% increase from the third quarter of 2019.  Our continued financial strength and outlook provides us the ability to reward shareholders with an attractive return on their investment as evidenced by the 6.63% annualized yield," commented Jae A. Evans, President and Chief Executive Officer of Isabella Bank Corporation. “We continue to assist businesses and families with their financial needs during these challenging times while preparing for the future of our organization.  We are carefully monitoring the potential impact COVID-19 may have on our business and are prepared to take any necessary steps to maintain our strong capital position.”

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 117 years. The Bank offers personal and commercial lending and deposit products, as well as investment, trust and estate planning services through Isabella Wealth. 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 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 Corporation Announces Second Quarter 2020 Results

7-27-2020

Earnings Climb 37% Over First Quarter 2020

Isabella Bank Corporation (the "Corporation") (OTCQX: ISBA) released its earnings results for the second quarter of 2020. The Corporation reported net income of $4.2 million and earnings per common share of $0.53 for the second quarter of 2020.

“All employees at Isabella Bank continue to do everything we can to help those we serve get through the COVID-19 pandemic and the recent flooding disaster in Midland County and the surrounding areas,” stated Jae A. Evans, President and Chief Executive Officer of the Corporation. “We've worked with our customers to provide loan payment relief, emergency disaster loans and are pleased to have provided over 950 PPP loans for a total of $99.5 million to support our local businesses."

"As we look at the positive results of the second quarter and plan for the future," he added, "our continued focus on improving net interest margin, maintaining credit quality and controlling expense remains steadfast while we assist our customers and communities through these challenging times.”

Second quarter 2020 highlights include:

  • Net income increases $1.1 million, or 37%, compared to first quarter 2020
  • Commitment and support for our communities through Paycheck Protection Program ("PPP") loans
  • Loans and deposits grew 9%, largely due to PPP funding
  • Noninterest income increased $235,000, or 8%, compared to the second quarter of 2019

Net Income

Net income for the second quarter of 2020 and six-month period ended June 30, 2020 was $4.2 million and $7.3 million, respectively.  Net income for the second quarter of 2019 and six-month period ended June 30, 2019 was $4.2 million and $7.7 million, respectively.

Net interest income for the three months ended June 30, 2020 was $12.3 million and unchanged in comparison to the same period in 2019. Provision for loan losses for the three months ended June 30, 2020 increased by $284,000 compared to the same period last year, primarily the result of increased economic and environmental risk factors driven largely by COVID-19. Second quarter 2020 noninterest income increased $235,000 from the same period in 2019 as a result of a gain from the redemption of a corporate-owned life insurance policy and gains from the sale of mortgage loans. Second quarter 2020 noninterest expense decreased $49,000 from the same period last year primarily due to decreased compensation-related expenses.

A decline in the interest rate environment largely drove a $1,226,000 decrease in interest income for the first six months of 2020 compared to the same period in 2019. The decline in the interest rate environment also resulted in a decline of $1,055,000 in interest expense on deposits and borrowings for the six-month period ended June 30, 2020 compared to the same period in 2019. Net interest income decreased by $171,000 for the six-month period ended June 30, 2020 compared to the same period in 2019. The provision for loan losses increased by $1,038,000 for the six-month period ended June 30, 2020 compared to the same period in 2019, primarily as the result of increased economic and environmental risk factors driven by COVID-19. Noninterest income increased $754,000 during the first six months of 2020 compared to the same period in 2019, largely due to gains from the redemption of corporate owned life insurance policies. Noninterest expenses for the first six months of 2020 exceeded the same period in 2019 by $107,000, primarily due to community commitments related to charitable donations.

The Corporation's fully taxable equivalent net yield on interest earning assets was 2.92% and 2.95% for the three and six-month periods ended June 30, 2020, respectively. This compares to 3.06% and 3.04% for the three and six-month periods ended June 30, 2019. The Corporation's banking subsidiary, Isabella Bank (the "Bank"), implemented strategic programs last year to improve the net yield on interest earning assets, which includes enhanced pricing related to loans and deposits and a reduced reliance on higher-cost borrowed funds and brokered deposits as funding sources. While these efforts have helped, the current interest rate environment has had a negative impact on the yields of interest earning assets and future improvement is expected to be gradual.

Assets

As of June 30, 2020, total assets were $1.9 billion and assets under management were $2.6 billion. Assets under management included loans sold and serviced of $263.3 million, investment and trust assets managed by Isabella Wealth of $395.2 million, in addition to assets on the consolidated balance sheet.

The Bank's securities portfolio has declined by $49.4 million since December 31, 2019, primarily as a result of maturities and sales of available-for-sale securities based on the Bank's strategic objectives. The Bank utilized this available cash flow to reduce higher-cost funding sources and other borrowings as they matured which strengthened its liquidity position. Borrowed funds have declined $39.7 million since December 31, 2019 and $84.2 million since June 30, 2019.

Loans

Loans outstanding as of June 30, 2020, totaled $1.3 billion. During the first six months of 2020, gross loans increased $97.8 million, largely driven by $99.5 million of PPP loans in the commercial loan portfolio.  During the first six months of 2020, the agricultural loan portfolio declined $14 million while residential real estate and consumer loan portfolios experienced growth totaling $13 million.

Deposits

Total deposits increased $126.8 million during the first six months of 2020 to $1.4 billion and grew $159.3 million over the last twelve months. This increase was largely attributed to deposits from borrowers participating in the PPP loan program. Over the past year, excess funds were used to reduce higher-cost deposits such as brokered certificates of deposit balances. Since June 30, 2019, the Bank reduced brokered certificates of deposits $43.7 million, or 76%, which was favorable to the Bank's net interest margin.

Capital

The Bank is designated as a “well capitalized” institution, as its capital ratios exceeded the minimum requirements for this designation. As of June 30, 2020, the Bank’s Tier 1 Leverage Ratio was 8.5%, Tier 1 Capital Ratio was 12.3% and Total Capital Ratio was 13.0%. From a consolidated perspective, the Corporation's Tier 1 Leverage Ratio was 8.9%, Tier 1 Capital Ratio was 12.9% and Total Capital Ratio was 13.6% as of June 30, 2020.

Dividend

During the second quarter of 2020, the Corporation paid a $0.27 per common share cash dividend, an increase of 3.8% compared to the second quarter of 2019. Based on the Corporation's closing stock price of $18.25 as of June 30, 2020, the annualized cash dividend yield was 5.9%.

About the Corporation

Isabella Bank Corporation (OTCQX: ISBA) is the parent holding company of Isabella Bank, a state chartered community 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 117 years. The Bank offers personal and commercial lending and deposit products, as well as investment, trust and estate planning services through Isabella Wealth. 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 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.

Brasington Promoted to Commercial Lender in the West Region

6-02-2020

David Seppala, West Region President of Isabella Bank, announced the promotion of Lindsey Brasington to Commercial Lender.  Lindsey will serve the commercial lending needs of the Mecosta and Montcalm areas.  As a commercial lender, Ms. Brasington is responsible for business development of business loans, lines of credit, SBA loans, agricultural loans, and commerical real estate loans.

“I am excited to have Lindsey join our lending team.  She has the perfect combination of knowledge and personality.  I am confident she will be very successful in this position,” stated Seppala.

Ms. Brasington is a graduate of Ferris State University, Isabella University, Wisconsin Bankers Association Agricultural Lending School, Midwest Agricultural Banking School, and the Dale Carnegie Team Development Program.  She has been with Isabella Bank since 2011.  Ms. Brasington has nine years of banking experience, most recently serving as a commercial credit analyst.  She is a member of the Mt. Pleasant Young Professionals Network, Mt. Pleasant Jaycees and former volunteer for Mt. Pleasant Area Community Foundation, Junior Achievement, Girls On The Run and Lakeview AYSO soccer program.  Lindsey and her fiancé, Tory, reside in Remus.

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 117 years.  The Bank offers personal and commercial lending and deposit products, as well as investment, trust and estate planning services through Isabella Wealth. 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.”

Isabella Bank Corporation common stock is quoted on the OTCQX tier of the OTC Markets Group, Inc.’s

Isabella Bank Corporation Announces Second Quarter 2020 Dividend

5-29-2020

Isabella Bank Corporation (OTCQX:ISBA) announced today that the Board of Directors of the Corporation declared a second quarter cash dividend of $0.27 per common share at its regular meeting held on May 27, 2020.  The dividend will be payable on June 30, 2020 to shareholders of record as of June 26, 2020.  Based on ISBA’s closing stock price of $16.30 per share as of May 27, 2020, the annualized cash dividend yield was 6.63%.

“I am pleased to announce our Board approved a dividend of $0.27 per share for the second quarter.  The second quarter dividend represents a 3.85% increase from the second quarter of 2019 and is unchanged from the first quarter of 2020.  Our continued financial strength provides us the ability to reward shareholders with a very attractive return on their investment as evidenced by the 6.63% annualized yield,” commented Jae A. Evans, President and Chief Executive Officer of Isabella Bank Corporation. “We remain focused on the impact COVID-19 and the economy are having on the communities in which we operate and serve.  As we continue to assist businesses and families within our markets during these challenging times, we are looking ahead and planning for the needs of our customers, employees, and organization. This planning includes capital management, and we may deem it necessary to adjust future dividends for loan growth and other corporate purposes.”

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 117 years. The Bank offers personal and commercial lending and deposit products, as well as investment, trust and estate planning services through Isabella Wealth. 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 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 Commits $20,000 to The Great Lakes Bay Region Relief Efforts

5-28-2020

Michael Colby, East Region President of Isabella Bank has committed $20,000 to the relief efforts of the Great Lakes Bay Region.  The dollars will support the residents directly impacted by the recent devastating dam failures and flooding in the area. 

“Our area has seen significant impact as a result of the recent flooding. As a community bank, we recognize the importance of helping our communities and neighbors.  We are proud to be a part of the efforts to rebuild our community.  If you need support, please reach out to these wonderful organizations, or let us know,” stated Colby. 

Isabella Bank designated $10,000 to The Flood Relief Project Fund through the Midland Community Foundation.  The Midland Flood Relief Project Fund provides flood relief throughout Midland County, including those in Sanford, Bullock Creek, and the City of Midland.  The mission of The Flood Relief Project Fund is to provide for disaster relief in Midland County with use determined by the Midland County long-term recovery group in consultation with the Midland County Emergency Manager. 

Isabella Bank also designated $10,000 to the United Way of Midland County Rise Together Fund.  The Rise Together Fund is designed to help equip the ALICE (Asset Limited, Income Constrained, Employed) population.  This time is especially daunting and potentially devastating for those in the ALICE population.  The Herbert H. and Grace A. Dow Foundation committed $500,000 in matching grant support, doubling efforts to help positively impact ALICE.  This fund was created to help provide resources for the greatest needs in Midland County.

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 $2.4 billion in assets under management and more than 380 employees.  For the past five years, the Corporation has been recognized on the Detroit Free Press list of “Top Workplaces.”

Isabella Bank Corporation Announces First Quarter 2020 Results

4-23-2020

Capital and Liquidity in Position of Strength

Mt. Pleasant, Michigan, April 23, 2020 - Isabella Bank Corporation (the "Corporation") (OTCQX: ISBA) released its earnings results for the first quarter of 2020. The Corporation reported net income of $3.1 million and earnings per common share of $0.39 for the first quarter of 2020.

“First and foremost, our thoughts and prayers go out to everyone as we navigate the challenges created by COVID-19,” stated Jae A. Evans, President and Chief Executive Officer of the Corporation. “At Isabella Bank Corporation, we have a history of assisting our customers and communities in a time of need and today is no different. We are doing everything we can to help those we serve get through this crisis."

"As we share our results of the first quarter of 2020," he added, "you can rest assured that Isabella Bank Corporation has strong capital and liquidity positions to weather this crisis.”

First quarter 2020 highlights include:

  • Annualized cash dividend yield of 6.0%
  • Deposit growth of $8.2 million
  • Grew noninterest income $508,000, or 20.4% compared to the first quarter of 2019
  • Limited noninterest expense increase to 1.3% compared to the first quarter of 2019

Net Income

Net income for the first quarter of 2020 was $3.1 million compared to $3.5 million in the first quarter of 2019. A combination of reduced interest rates and loan volume drove a $280,000 decrease in interest income for the first three months of 2020 compared to the first quarter of 2019. Interest expense on deposits and borrowings decreased $93,000 for the three-month period ended March 31, 2020 compared to the same period in 2019 primarily due to reduced interest rates. Net interest income decreased by $187,000 for the first quarter compared to the same period in 2019. The provision for loan losses increased by $754,000 for the three-month period ended March 31, 2020 from the same period in 2019, as the result of increased economic and environmental risk factors, primarily driven by COVID-19, and an increase in impaired loan reserves. Noninterest income increased $508,000 during the first quarter compared to the same period in 2019, largely due to a gain from the redemption of a corporate insurance policy. Noninterest expenses for the first three months of 2020 modestly exceeded the same period in 2019 by $145,000, primarily due to compensation, community relations and donation-related expenses.

The Corporation's fully taxable equivalent net yield on interest earning assets was 2.98% for the first quarter of 2020. This compares to 3.02% for the same period last year. The Corporation's banking subsidiary, Isabella Bank (the "Bank"), has implemented various initiatives to improve the net yield on interest earning assets, which include enhanced pricing strategies related to loan and deposit products and a reduced reliance on borrowings and brokered deposits as funding sources. However, the current interest rate environment has had a negative impact on the net yield on interest earning assets and future improvement may be gradual.

Assets

As of March 31, 2020, total assets were $1.8 billion and assets under management were $2.4 billion. Assets under management include loans sold and serviced of $257.3 million, investment and trust assets managed by Isabella Wealth of $360.0 million, in addition to assets on the consolidated balance sheet. In 2020, the Bank’s investment and trust services business was re-engineered and rebranded as Isabella Wealth to enhance the client experience, build scalability and expand market awareness.

The Bank's securities portfolio has declined by $22.7 million since December 31, 2019, primarily as a result of the sale of available-for-sale securities. The opportunity to identify new investment securities for purchase at an acceptable yield has been minimal as a result of the flat yield curve that has existed for over a year. Based on strategic objectives, the Corporation utilized this available cash flow to reduce higher-cost funding sources and other borrowings as they matured which strengthened the Bank’s liquidity position. Borrowed funds have declined $48.5 million since March 31, 2019.

Loans

Loans outstanding as of March 31, 2020, totaled $1.2 billion. During the first three months of 2020, gross loans decreased by $10.6 million, largely driven by an $8.06 million decline in the agricultural loan portfolio. During the first quarter of 2020, the commercial loan portfolio declined $5.66 million while residential real estate and consumer loans experienced growth totaling $3.09 million. Loans grew $31.1 million since March 31, 2019.

Deposits

Total deposits increased $8.2 million during the first quarter of 2020 to $1.3 billion and grew $44.1 million over the last twelve months. This increase was largely attributed to growth in interest bearing demand and savings deposits as a result of an attractive product offering, strategic product pricing and focused customer-service. Over the last year, excess funds were used to reduce higher-cost deposits such as brokered certificates of deposit balances. Since March 31, 2019, the Bank reduced brokered certificates of deposits $22.8 million, or 45.4%, which was favorable to the Bank's net interest margin and liquidity position.

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 March 31, 2020, the Bank’s Tier 1 Leverage Ratio was 8.7%, Tier 1 Capital Ratio was 12.1% and Total Capital Ratio was 12.8%. From a consolidated perspective, the Corporation's Tier 1 Leverage Ratio was 9.1%, Tier 1 Capital Ratio was 12.7% and Total Capital Ratio was 13.4% as of March 31, 2020.

Dividend

During the first quarter of 2020, the Corporation paid a $0.27 per common share cash dividend, an increase of 3.85% compared to the first quarter of 2019. Based on the Corporation's closing stock price of $18.00 as of March 31, 2020, the annualized cash dividend yield was 6.0%.

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 117 years. The Bank offers personal and commercial lending and deposit products, as well as investment, trust and estate planning services through Isabella Wealth. 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 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 Change of Location for the Annual Meeting of Shareholders on May 5, 2020

4-17-2020

Mt. Pleasant, Michigan, April 17, 2020 - Isabella Bank Corporation (OTCQX:ISBA), today announced a change in the location of its 2020 Annual Meeting of Shareholders (the “Annual Meeting”). After careful consideration and in light of on-going developments related to coronavirus (COVID-19), Isabella Bank Corporation’s Annual Meeting will be held solely by remote communication, in a “virtual only” format to support the health and well-being of our directors, officers, employees and shareholders. The previously announced date and time of the meeting (Tuesday, May 5, 2020 at 5:00 p.m., Eastern Time) will not change. This change is solely related to the COVID-19 impact and we expect to resume our in-person shareholder meeting next year.

In order to attend the virtual Annual Meeting, shareholders of record as of the close of business on March 13, 2020 must register by April 30, 2020 at 11:59 p.m., Eastern Time, at http://viewproxy.com/IsabellaBankCorp/2020. Once registered, shareholders can attend, vote and submit questions at the virtual Annual Meeting via the internet at http://viewproxy.com/IsabellaBankCorp/2020/VM. You may vote during the virtual Annual Meeting by following the instructions available on the meeting website. If you encounter any difficulties accessing the virtual meeting, please call 866-612-8937 or submit any questions to [email protected] for assistance. Further information regarding the change of location of the Annual Meeting can be found in the Notice of Change of Location of Annual Meeting of Shareholders filed by Isabella Bank Corporation with the Securities and Exchange Commission on April 17, 2020.

Shareholders who may not have access to the online meeting, may call into the meeting by dialing 231.929.4212 using code 819-499-066. This conference call option will not allow shareholders to vote or submit questions. Shareholders wishing to use the phone option may must register by April 30, 2020 at 11:59 p.m., Eastern Time by calling the meeting technical service team at 866.612.8937.

The online format of the Annual Meeting, to the extent practicable, ensures shareholders are afforded the same rights and opportunities to participate as they would at an in-person meeting, using online tools designed to facilitate shareholder access and participation. Whether or not shareholders are attending the virtual meeting, ISBA urges shareholders to vote and submit proxies in advance of the Annual Meeting by one of the methods described in the Proxy Materials.

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 117 years. The Bank offers personal and commercial lending and deposit products, as well as investment, trust and estate planning services through Isabella Wealth. 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 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 Fourth Quarter and 2019 Results

3-13-2020

Isabella Bank Corporation (the "Corporation") (OTCQX: ISBA) released its earnings results for the fourth quarter and year ended December 31, 2019.

The Corporation reported net income of $898,000 for the fourth quarter of 2019, a decrease compared to earnings results of each of the first three quarters of 2019, primarily as a result of a loss on a non-core joint venture investment. Net income was $13.0 million and earnings per common share was $1.65 for the year ended December 31, 2019.

Achievements in the fourth quarter of 2019 and the year ended December 31, 2019 include:

  • Cash dividend yield of 4.4% for the fourth quarter
  • Loan growth of $57.9 million, or 5.1%, during 2019
  • Core deposit growth of $54.1 million, or 4.4%, during 2019
  • Interest income growth of $3.4 million, or 5.39%, in 2019 as compared to 2018

“We are pleased with the continued strong results related to our core business, even though we are disappointed with the results for the fourth quarter because of the joint venture loss,” stated Jae A. Evans, President and Chief Executive Officer of the Corporation.

“In a year in which the interest rate environment continued to present challenges, we successfully increased net interest income by offering competitive lending and deposit products. Our financial results were affected by one-time financial events during the year, including a favorable FDIC assessment credit, as well as a loss recognized on a joint venture investment. The loss should not overshadow the improvement in core earnings, and we remain strongly focused on managing the 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 fourth quarter of 2019 and year ended December 31, 2019 was $898,000 and $13.0 million, respectively. Net income for the fourth quarter and year ended December 31, 2018 was $3.5 million and $14.0 million, respectively.

Net interest income for the three months ended December 31, 2019 was $12.4 million. Provision for loan losses for the three months ended December 31, 2019 decreased by $360,000 when compared to the same period last year and was the result of continued low levels of losses and maintaining strong credit quality. Fourth quarter 2019 noninterest income decreased $3.6 million from the same period last year as a result of a $3.6 million reduction in the Corporation's joint venture investment in Corporate Settlement Solutions, LLC (“CSS”), which was due to CSS's recorded impairment of intangible assets. Fourth quarter 2019 noninterest expense increased $22,000 from the same period last year.

Interest income for the year ended December 31, 2019 increased $3.4 million compared to 2018, largely due to a combination of improved yields and growth in the loan portfolio. Interest expense on deposits and borrowings increased $2.2 million for the year ended December 31, 2019 when compared to the same period in 2018, primarily due to higher interest rates. Net interest income increased by $1.2 million for the year ended December 31, 2019 compared to 2018. The provision for loan losses decreased by $948,000, primarily due to strong credit quality. Noninterest income for the year ended December 31, 2019 decreased $2.9 million when compared to 2018 primarily as a result of a $3.6 million reduction in the joint venture investment in CSS. Noninterest income in 2019 also included an increase in debit card transaction fee income, gains related to the sale of loans, and gains related to foreclosed assets. Noninterest expenses for the year ended December 31, 2019 exceeded noninterest expenses in 2018 by $198,000. Expenses related to employee incentive plans account for a portion of the increase in noninterest expenses, which was partially offset by an FDIC assessment credit, reduced audit and consulting fees, and ongoing cost control initiatives. These initiatives include managing capital expenditures, vendor costs, and staffing levels.

The Corporation's fully taxable equivalent net yield on interest earning assets was 3.06% and 3.07% for the fourth quarter of 2019 and year ended December 31, 2019, respectively. This compares to 3.02% and 2.98% for the fourth quarter of 2018 and year ended December 31, 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 borrowings and brokered deposits, and enhanced pricing strategies related to loan and deposit products. However, the current interest rate environment may slow this pace of improvement.

Assets

As of December 31, 2019, total assets were $1.8 billion and assets under management were $2.5 billion. Assets under management include loans sold and serviced of $259.4 million and assets managed by Investment and Trust Services of $436.2 million, in addition to assets on the consolidated balance sheet. As a result of the flat yield curve that has existed for over a year, the opportunity to identify new investment securities for purchase at an acceptable yield has been minimal. Therefore, the Bank's securities portfolio has declined by $65.0 million since December 31, 2018. Based on strategic objectives, the Corporation utilized this available cash flow to reduce higher-cost funding sources and other borrowings as they mature, resulting in a decline in total assets as of December 31, 2019 when compared to December 31, 2018.

Loans

Loans grew $57.9 million or 5.1% during 2019 to $1.2 billion as of December 31, 2019. This growth was largely driven by the commercial loan portfolio, which increased $41.4 million. Also contributing to this growth was an increase in residential real estate and consumer loans totaling $26.7 million. The portfolio experienced a decline of $10.2 million related to agricultural loans; however, this trend is not expected to continue in 2020.

Deposits

Total deposits increased $21.2 million during 2019 to $1.3 billion as of December 31, 2019. Our core deposits grew $54.1 million, or 4.4%, during 2019. This increase was largely attributed to growth in noninterest bearing demand deposits and savings deposits as the result of an attractive product offering, strategic product pricing and high-quality customer service. In recent periods, excess funds were used to reduce higher-cost deposits such as brokered certificates of deposit accounts.  During the past twelve months, brokered certificates of deposit accounts declined $34.7 million, or 55.8%, which 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 December 31, 2019, the Bank’s Tier 1 Leverage Ratio was 8.5%, Tier 1 Capital Ratio was 11.9% and Total Capital Ratio was 12.5%. From a consolidated perspective, the Corporation's Tier 1 Leverage Ratio was 9.0%, Tier 1 Capital Ratio was 12.6% and Total Capital Ratio was 13.2% as of December 31, 2019.

Dividend

During the fourth quarter of 2019, the Corporation paid a $0.27 per common share cash dividend, an increase of 3.8% compared to the fourth quarter of 2018. Based on the Corporation's closing stock price of $24.31 as of December 31, 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 its customers and communities for 117 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 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 2020 Dividend

2-28-2020

Isabella Bank Corporation (OTCQX:ISBA), announced today that the Board of Directors of the Corporation declared a first quarter cash dividend of $0.27 per common share at its regular meeting held on February 26, 2020. The dividend will be payable on March 31, 2020 to shareholders of record as of March 26, 2020. Based on ISBA’s closing stock price of $23.96 per share as of February 27, 2020, the annualized cash dividend yield was 4.51%.

“I am pleased to announce our Board approved a dividend of $0.27 per share for the first quarter,” commented Jae

A. Evans, President and Chief Executive Officer of Isabella Bank Corporation. “The first quarter dividend is a 3.85% increase from the first quarter 2019 dividend. Our commitment is to provide an attractive shareholder return through sustained dividends, an exceptional dividend yield and strong financial results.”

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.

Brick Promoted to Vice President of Marketing

1-15-2020

Jerome Schwind, President of Isabella Bank announced the promotion of Jenn Brick to Vice President of Marketing effective January 1, 2020.  As vice president of marketing, Jenn will continue to oversee the daily operations of the marketing and community relations functions of the Bank. 

“Jenn’s contributions continue to have a positive influence on our culture.  She is an effective communicator for our brand, shareholders, and our board,” stated Schwind.

Ms. Brick earned her undergraduate and graduate degrees from Northwood University.   She is also a graduate from the Chamber of Commerce Leadership Midland, Rollie Denison Leadership Institute, and the Dale Carnegie Team Development Program.

Ms. Brick has over 18 years in the banking industry with 14 years focused in marketing.  She serves her community as Board President for Bullock Creek Sports Boosters, Board Secretary for Isabella County Habitat for Humanity, and is actively involved in Midland County 4-H and the Midland Community Foundation’s scholarship selection.  She and her husband, Todd, live in Midland with their son Haden.  

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.”

Rupp Joins Isabella Bank Board 

1-06-2020

Jae Evans, President and Chief Executive Officer of Isabella Bank Corporation announced the appointment of Ms. Vicki Rupp to the Board, effective November 2019.

Ms. Rupp retired in 2016 from Dow Chemical Company after a successful thirty-five year career in various positions, including her final position of Corporate Director Business Services.  Her Dow Chemical experience included specialty research & development, environmental, health and safety, global corporate service management, mergers & acquisition implementation, and organizational management.  Ms. Rupp owns her own consulting company, Vicki Rupp Consulting, for companies seeking operational improvements. 

“I am excited to have Ms. Rupp join our Board of Directors.  Her professional experience and knowledge of the Great Lakes Bay Region will be beneficial to both our board and our bank,” stated Evans.

In addition, Ms. Rupp serves on the Saginaw Valley State University (SVSU) Foundation board and SVSU board of control as vice chair.  Ms. Rupp serves her community as a member of the executive committee of United Way, STEM volunteer, and DOW/SVSU Affinity Network Leader.  She resides in the Saginaw community. 

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).

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