ISABELLA BANK Corp (ISBA) Financial Statements (2024 and earlier)

Company Profile

Business Address 401 NORTH MAIN STREET
MT PLEASANT, MI 48858
State of Incorp. MI
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments33,67238,924105,330246,64060,57273,471
Cash and cash equivalents33,67238,924105,330246,64060,57273,471
Total current assets:33,67238,924105,330246,64060,57273,471
Noncurrent Assets
Property, plant and equipment27,63925,55324,41925,14026,24227,815
Intangible assets, net (including goodwill)48,28448,28748,30248,33148,37948,451
Goodwill 48,28248,28248,28248,28248,28248,282
Intangible assets, net (excluding goodwill) 25204997169
Other undisclosed intangible assets, net (including goodwill)      
Total noncurrent assets:75,92373,84072,72173,47174,62176,266
Other undisclosed assets1,949,3731,917,5031,854,1071,637,2671,679,0051,687,570
TOTAL ASSETS:2,058,9682,030,2672,032,1581,957,3781,814,1981,837,307
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Other undisclosed liabilities1,856,5661,844,0571,821,1101,738,7901,604,0161,641,788
Total liabilities:1,856,5661,844,0571,821,1101,738,7901,604,0161,641,788
Equity
Equity, attributable to parent, including:202,402186,210211,048218,588210,182195,519
Common stock127,323128,651129,052142,247141,069140,416
Accumulated other comprehensive income (loss)(25,896)(37,194)1,8597,6981,971(7,685)
Retained earnings97,28289,74875,59264,46062,09957,357
Other undisclosed equity, attributable to parent3,6935,0054,5454,1835,0435,431
Total equity:202,402186,210211,048218,588210,182195,519
TOTAL LIABILITIES AND EQUITY:2,058,9682,030,2672,032,1581,957,3781,814,1981,837,307

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues65,98753,91453,10456,81854,84849,754
Net investment income65,67053,28351,41054,10254,19249,229
Cost of revenue(629)(483) (1,665)(30)(978)
Provision for loan, lease, and other losses(629)(483) (1,665)(30)(978)
Gross profit:65,35853,43153,10455,15354,81848,776
Operating expenses(7,277)(7,105)(6,666)(6,270)(6,064)(6,122)
Other operating income, net
(Noninterest Income, Other Operating Income)
7363593723624263,504
Operating income:58,81746,68546,81049,24549,18046,158
Nonoperating income
(Bank Owned Life Insurance Income)
920884800755764707
Interest and debt expense(21,687)(5,317)(7,412)(21,468)(17,861)(15,631)
Income from continuing operations before equity method investments, income taxes:38,05042,25240,19828,53232,08331,234
Other undisclosed loss from continuing operations before income taxes(16,218)(15,408)(16,851)(16,660)(17,679)(15,850)
Income from continuing operations before income taxes:21,83226,84423,34711,87214,40415,384
Income tax expense(3,665)(4,606)(3,848)(987)(1,380)(1,363)
Income from continuing operations:18,16722,23819,49910,88513,02414,021
Income before gain (loss) on sale of properties:19,49910,88513,02414,021
Net income available to common stockholders, diluted:18,16722,23819,49910,88513,02414,021

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:18,16722,23819,49910,88513,02414,021
Other comprehensive income (loss)11,298(39,053)(5,839)5,7279,656(5,306)
Comprehensive income (loss), net of tax, attributable to parent:29,465(16,815)13,66016,61222,6808,715

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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