ISABELLA BANK CORP ISBA
Isabella Bank Corporation is a registered financial holding company registered under the BHC Act. The Corporation was incorporated in September 1988 under Michigan law. The Corporation's wholly owned subsidiary, Isabella Bank, has 31 offices located throughout Bay, Clare, Gratiot, Isabella, Mecosta, Midland, Montcalm, and Saginaw counties. The area includes significant agricultural production, manufacturing, retail, gaming and tourism, and several colleges and universities.
The Bank is a community bank with a focus on providing high quality, personalized service at a fair price. We offer a broad array of banking and wealth management services to businesses, institutions, individuals, and their families. We compete with other commercial banks, savings and loan associations, mortgage brokers, finance companies, credit unions, retail brokerage firms, and other companies providing financial services.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $96.0M | $90.0M | $79.6M | $65.8M | $60.1M | $64.2M | $67.3M | $63.9M | $58.4M | $5.2M |
| Interest expense | $62.5M | $55.8M | $57.9M | $60.5M | $7.4M | $13.8M | $17.9M | $15.6M | $12.5M | $10.9M |
| Pre-tax income | $24.1M | $16.4M | $21.8M | $26.8M | $23.3M | $11.9M | $14.4M | $15.4M | $16.3M | $16.1M |
| Income tax | $5.2M | $2.5M | $3.7M | $4.6M | $3.8M | $987.0K | $1.4M | $1.4M | $3.0M | $2.3M |
| Net income | $18.9M | $13.9M | $18.2M | $22.2M | $19.5M | $10.9M | $13.0M | $14.0M | $13.2M | $13.8M |
| EPS, basic | 2.56 | 1.86 | 2.42 | 2.95 | 2.48 | 1.37 | 1.65 | 1.78 | 1.69 | 1.77 |
| EPS, diluted | 2.56 | 1.86 | 2.40 | 2.91 | 2.45 | 1.34 | 1.61 | 1.74 | 1.65 | 1.73 |
| Shares, diluted (wtd. avg.) | $7.4M | $7.5M | $7.6M | $7.6M | $8.0M | $8.1M | $8.1M | $8.1M | $8.0M | $8.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $26.0M | $24.5M | $33.7M | $38.9M | $105.3M | $246.6M | $60.6M | $73.5M | $30.8M | $22.9M |
| Property, plant and equipment | $29.0M | $27.7M | $27.6M | $25.6M | $24.4M | $25.1M | $26.2M | $27.8M | $28.4M | $29.3M |
| Goodwill | $48.3M | $48.3M | $48.3M | $48.3M | $48.3M | $48.3M | $48.3M | $48.3M | $48.3M | $48.3M |
| Other intangibles | — | — | $2.0K | $5.0K | $20.0K | $49.0K | $97.0K | $169.0K | $265.0K | $384.0K |
| Total assets | $2.21B | $2.09B | $2.06B | $2.03B | $2.03B | $1.96B | $1.81B | $1.84B | $1.81B | $1.73B |
| Total liabilities | $1.98B | $1.88B | $1.86B | $1.84B | $1.82B | $1.74B | $1.60B | $1.65B | $1.62B | $1.54B |
| Retained earnings | $113.8M | $103.0M | $97.3M | $89.7M | $75.6M | $64.5M | $62.1M | $57.4M | $51.7M | $46.1M |
| Total equity | $231.4M | $210.3M | $202.4M | $186.2M | $211.0M | $218.6M | $210.2M | $195.5M | $194.9M | $187.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $26.8M | $19.6M | $24.2M | $26.9M | $25.5M | $22.0M | $23.3M | $22.0M | $19.7M | $20.2M |
| Depreciation and amortisation | $2.1M | $2.1M | $2.0M | $2.1M | $2.3M | $2.6M | $2.9M | $2.9M | $2.9M | $2.8M |
| Stock-based compensation | $341.0K | $476.0K | $782.0K | $610.0K | — | — | $523.0K | $612.0K | $640.0K | $573.0K |
| Capital expenditure | $3.5M | $2.1M | $4.1M | $3.2M | $1.6M | $1.5M | $1.3M | $2.3M | $2.0M | $3.8M |
| Investing cash flow | -$115.9M | -$37.9M | -$26.2M | -$106.2M | -$229.6M | $45.1M | $15.5M | $6.5M | -$81.7M | -$69.9M |
| Financing cash flow | $90.6M | $9.1M | -$3.2M | $12.9M | $62.8M | $118.9M | -$51.7M | $14.1M | $70.0M | $51.0M |
| Dividends paid | $8.1M | $8.1M | $8.2M | $8.1M | $8.4M | $8.5M | $8.3M | $8.2M | $8.0M | $7.6M |
| Buybacks | $4.7M | $3.1M | $3.4M | — | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000842517-26-000069.
Others in SIC 6022
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| BNY | Bank of New York Mellon Corp | $111.84B | 22.3x | 7.8% |
| STT | STATE STREET CORP | $53.36B | 20.7x | 7.3% |
| FITB | FIFTH THIRD BANCORP | $49.76B | 15.5x | -5.0% |
| MTB | M&T BANK CORP | $34.64B | 14.1x | 7.5% |
| NTRS | NORTHERN TRUST CORP | $34.15B | 21.4x | 6.1% |
| CFG | CITIZENS FINANCIAL GROUP INC/RI | $29.81B | 18.3x | 6.7% |
| FCNCA | FIRST CITIZENS BANCSHARES INC /DE/ | $25.48B | 13.4x | -2.2% |
| EWBC | EAST WEST BANCORP INC | $17.92B | 13.7x | 2.4% |