Welcome to our dedicated page for ISABELLA BANK news (Ticker: ISBA), a resource for investors and traders seeking the latest updates and insights on ISABELLA BANK stock.
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 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.
Isabella Bank Corporation (OTCQX:ISBA) declared a fourth-quarter cash dividend of $0.27 per share on November 23, 2021, reflecting its commitment to increasing shareholder value. The dividend, payable on December 17, 2021, to shareholders of record as of December 14, yields an annualized cash dividend of 3.99% based on a closing price of $27.10 on the declaration date. The company attributes this dividend to strong financial performance and effective initiatives aimed at enhancing metrics, contributing to recent stock appreciation.
Isabella Bank Corporation (OTCQX: ISBA) announced strong third-quarter earnings for 2021, reporting a net income of $4.7 million, a 27% increase year-over-year. Earnings per share rose to $0.59 for the quarter and $1.85 for the first nine months. Total assets reached $2.1 billion, with assets under management at $2.9 billion. The corporation conducted a tender offer, purchasing 396,577 shares at $27.00 each, improving metrics for shareholders. A cash dividend of $0.27 per share was also paid, yielding 4.15%.
On October 19, 2021, Isabella Bank Corporation (OTCQX: ISBA) announced the results of its modified "Dutch auction" tender offer, which sought to purchase up to $20,000,000 of its common stock. The tender offer closed on October 13, 2021, with 396,576.79 shares tendered at prices ≤ $27.00 per share. The corporation accepted all these shares at a price of $27.00 each, totaling approximately $10,707,573.20. This acquisition represents around 5.0% of the company's outstanding shares.
Isabella Bank Corporation (OTCQX: ISBA) has announced a modified "Dutch auction" tender offer to repurchase up to $20,000,000 of its common stock, with a price range between $23.00 and $27.00 per share. This represents a 14.89% premium over the last closing price of $23.50 on August 31, 2021. If fully subscribed, the offer could result in the buyback of 740,741 to 869,565 shares, equating to 9.32% to 10.94% of outstanding shares. The offer will expire on October 13, 2021.
Isabella Bank Corporation (OTCQX: ISBA) declared a $0.27 cash dividend per share for Q3 2021, payable on September 30, 2021. This decision reflects strong financial performance, yielding an annualized return of 4.69% based on a closing stock price of $23.05 as of August 25, 2021. CEO Jae A. Evans emphasized the bank's commitment to enhancing shareholder value, citing successful strategic initiatives aimed at improving key performance metrics.
Isabella Bank Corporation (OTCQX: ISBA) reported strong earnings for Q2 2021, with a net income of $4.6 million, up from $4.2 million in Q2 2020. For H1 2021, net income reached $10 million, compared to $7.3 million last year. Earnings per share increased to $0.58 for Q2 and $1.26 for H1. Key highlights include a successful $30 million private placement of subordinated notes, a reduction in interest expenses by 45.9%, and a 13.6% increase in total deposits. The firm maintains a strong liquidity position with $797 million available as of June 30, 2021.
Isabella Bank Corporation (OTCQX:ISBA) has successfully completed a private placement of $30.0 million in 3.25% Fixed-to-Floating Rate Subordinated Notes due 2031. The issuance will aid the bank in maintaining its capital position and financing growth while avoiding shareholder dilution. The fixed interest rate will last until June 15, 2026, after which it will become a floating rate. The notes will be redeemable from June 15, 2026, at par value. Proceeds will be used for general corporate purposes, including potential stock repurchases and M&A activities.
Isabella Bank Corporation (OTCQX: ISBA) is participating in Renmark Financial Communications Inc.'s Virtual Non-Deal Roadshow on June 2, 2021, at 1:00 PM PDT. The event aims to discuss the latest investor presentation and will feature President & CEO Jae Evans and CFO Neil McDonnell. Stakeholders and investors can register to attend, and a replay of the presentation will be available on the Company's Investor website afterward. Isabella Bank, a community bank founded in 1903, operates 30 locations across seven Mid-Michigan counties, focusing on personal and commercial banking services.
Isabella Bank Corporation (OTCQX: ISBA) announced a cash dividend of $0.27 per common share for Q2 2021, reflecting strong financial performance. This dividend, payable on June 30, 2021, will benefit shareholders of record as of June 28, 2021. Based on the stock's closing price of $23.15, the annualized cash dividend yield stands at 4.67%. President Jae A. Evans emphasized the dividend as a commitment to enhancing shareholder value, noting an 18% increase in stock market value since the end of 2020.
FAQ
What is the current stock price of ISABELLA BANK (ISBA)?
What is the market cap of ISABELLA BANK (ISBA)?
What services does Isabella Bank Corporation offer?
How many locations does Isabella Bank have?
What are the recent financial highlights for Isabella Bank Corporation?
Is Isabella Bank Corporation considered a well-capitalized institution?
Does Isabella Bank offer online and 24-hour banking services?
What are Isabella Bank's deposit services?
How does Isabella Bank support its communities?
What are the recent dividend announcements by Isabella Bank?
Where can I find more information about Isabella Bank Corporation?
What is the stock symbol for Isabella Bank Corporation?
