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Isabella Bank Corporation (OTCQX: ISBA) is a financial services holding company headquartered in Mt. Pleasant, Michigan. Established in 1903, the corporation has been a steadfast presence in mid-Michigan for over 120 years. Isabella Bank, its banking subsidiary, operates through 31 locations across eight Mid-Michigan counties: Bay, Clare, Gratiot, Isabella, Mecosta, Midland, Montcalm, and Saginaw.
Isabella Bank provides a comprehensive suite of financial products and services. Banking services include interest and noninterest-bearing checking accounts, savings accounts, money market accounts, and certificates of deposit. Lending services encompass commercial real estate loans, lines of credit, agricultural loans, residential real estate loans, consumer loans, and credit cards. The bank also offers trust services, safe deposit box rentals, credit life insurance, and brokerage products through Raymond James Financial Services.
Isabella Bank stands out with its commitment to customer service, offering 24-hour banking services both locally and nationally through shared ATMs, online banking, and direct deposits for businesses, institutions, and individuals. The bank has consistently adapted to changing market conditions, evidenced by their recent expansion into Bay County with a new loan production office in Bay City and a full-service branch in Saginaw.
Financially, Isabella Bank remains robust despite industry challenges posed by rising interest rates. For the third quarter of 2023, the bank reported net income of $4.4 million, reflecting resilience in a competitive environment. Total assets reached $2.1 billion with $3 billion under management. The bank's capital ratios exceed the required minimums, marking it as a “well-capitalized” institution.
Recent achievements include the growth in core loans and deposits, strategic moves to enhance shareholder value, and maintaining a strong liquidity position. The bank has also demonstrated a commitment to shareholder returns with consistent dividend payouts, including a fourth-quarter cash dividend of $0.28 per share in 2023.
Looking ahead, Isabella Bank remains focused on strategic initiatives to ensure long-term success and continued community support. For more detailed financial performance and news, visit their Investor Relations page on www.isabellabank.com.
Isabella Bank Corporation (OTCQX: ISBA) reported impressive financial results for Q1 2023, achieving net income of $5.3 million and earnings per share of $0.70, marking a 12% increase compared to Q1 2022. Deposits grew by over $69 million (or 4%) since the end of 2022, driven by strong money market and CD account growth. Net interest income rose by 14%, fueled by increased loan interest rates and a growing loan portfolio, despite a rise in interest expenses. The bank's total assets stood at $2.1 billion, while loans outstanding totaled $1.3 billion. Additionally, it maintained a strong capital position with the Tier 1 Capital Ratio at 13.73%. A cash dividend of $0.28 per share was declared, yielding 4.52% annually.
Isabella Bank Corporation (OTCQX: ISBA) declared a first-quarter cash dividend of $0.28 per share, marking a 3.70% increase from the previous year. This dividend will be payable on March 31, 2023, to shareholders of record as of March 29, 2023. With a closing stock price of $24.25 on February 22, 2023, this results in an annualized cash dividend yield of 4.62%. CEO Jae A. Evans highlighted this dividend as part of the company's commitment to enhancing shareholder value, supported by record net income and earnings per share reported for 2022.
Isabella Bank Corporation (OTCQX: ISBA) reported record financial results for 2022, with net income of $22.2 million, a 14% increase compared to 2021. Fourth-quarter net income rose to $6.3 million, up from $4.8 million a year prior. Earnings per share (EPS) reached $2.95 for the year, a 19% increase over the previous year. Total deposits increased by $33.9 million, or 2%, while net interest income grew by 15% to $60.5 million. The bank's asset quality improved significantly, with nonperforming loans at just 0.04%. Despite some noninterest income declines, the bank remains well-capitalized with strong capital ratios and a dividend increase of 3.7%.
Isabella Bank Corporation (OTCQX: ISBA) announced a fourth-quarter cash dividend of $0.28 per share, a 3.7% increase from the previous quarter. The total year-to-date dividend reaches $1.09, and shareholders will receive the dividend on December 16, 2022, if they are on record by December 14, 2022. This dividend yields 4.93% based on an ISBA stock price of $22.70. CEO Jae A. Evans attributes this increase to the success of the bank's strategic initiatives and strong financial performance in 2022.
Isabella Bank Corporation (OTCQX: ISBA) reported a record net income of $5.9 million for Q3 2022, up 25.6% from Q3 2021, driven by a 19% rise in net interest income. Earnings per share reached $0.78, a 32% increase year-over-year. Total deposits grew by $31.2 million in Q3 and $80.7 million year-to-date, indicating strong customer acquisition. The Bank's capital ratios exceeded minimum requirements, affirming its well-capitalized status. A cash dividend of $0.27 was also paid in Q3, reflecting a 5.05% annualized yield.
Isabella Bank Corporation (OTCQX: ISBA) announced a third-quarter cash dividend of $0.27 per common share, declared on August 31, 2022. The dividend will be payable on September 30, 2022, to shareholders of record by September 28, 2022. With a closing stock price of $23.45 as of the declaration date, the annualized cash dividend yield stands at 4.61%. The bank remains focused on increasing shareholder value through strategic initiatives that have yielded strong financial results in 2022.
Isabella Bank announced plans to break ground on a new branch in Saginaw on June 9, 2022. This will be their fifth location in Saginaw County, with an expected opening in the first quarter of 2023. The new branch aims to enhance access to various banking services for both individuals and businesses. The bank, which has been serving the mid-Michigan community for 119 years, has approximately $2 billion in assets and emphasizes a blend of modern technology and personal service.
Isabella Bank Corporation (OTCQX: ISBA) reported solid first-quarter earnings for 2022, posting a net income of $4.7 million and earnings per share of $0.63. Key highlights include a 3.1% growth in deposits, totaling $1.8 billion, and a strong credit quality with nonperforming loans at 0.06% of gross loans. Net interest income improved by $278,000 year-over-year, despite a decline in interest income. The corporation maintained a 4.18% annualized cash dividend yield, reflecting its commitment to shareholder returns.
Isabella Bank Corporation (OTCQX:ISBA) declared a first-quarter cash dividend of $0.27 per share, payable on March 31, 2022, to shareholders recorded by March 29, 2022. With a closing stock price of $25.75 as of February 23, 2022, the annualized dividend yield is 4.19%. CEO Jae A. Evans emphasized the dividend as a commitment to increasing shareholder value, supported by record financial results for 2021 and key initiatives enhancing performance.
Isabella Bank Corporation (OTCQX: ISBA) reported strong financial results for Q4 and the year ended December 31, 2021. Net income reached $4.8 million for Q4 and a record $19.5 million for the year, marking a 79% increase compared to 2020. EPS was $0.63 for Q4 and $2.48 for 2021. Total assets hit a record $2 billion, and loans increased by $62.7 million, or 5.1%. The bank successfully issued $30 million in subordinated debt and completed a tender offer purchasing 5% of shares. The bank remains 'well-capitalized' with strong capital ratios.
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