Related Party Transactions

12 Months Ended

Dec. 31, 2020

In the ordinary course of business, we grant loans to principal officers and directors and their affiliates (including their families and companies in which they have 10% or more ownership). Annual activity consisted of the following for the years ended December 31:


	2020		2019
Balance, January 1	$	3,695	$	3,343
New loans	837		1,584
Repayments	(1,555)		(1,232)
Balance, December 31	$	2,977	$	3,695

Total deposits of these principal officers and directors and their affiliates amounted to $7,604 and $5,137 at December 31, 2020 and 2019, respectively.

From time to time, we make charitable donations to The Isabella Bank Foundation (the “Foundation”), which is a non-controlled nonprofit organization formed for the purpose of distributing charitable donations to recipient organizations generally located in the communities we serve. Our donations are recognized as expense when paid to the Foundation. The assets and transactions of the Foundation are not included in our consolidated financial statements.

Assets of the Foundation include cash and cash equivalents, certificates of deposit, and shares of Isabella Bank Corporation common stock. The Foundation owned 44,350 shares of our common stock as of December 31, 2020 and 2019, respectively. Such shares are included in the computation of dividends and earnings per share.

The following table displays total assets of, and our donations to, the Foundation as of, and for the years ended December 31:


	2020		2019		2018
Total assets	$	1,286	$	1,678	$	1,731
Donations	$	—	$	50	$	—