XML 21 R9.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
OPERATING ACTIVITIES      
Net Income (Loss) Attributable to Parent $ 19,499 $ 10,885 $ 13,024
Reconciliation of net income to net cash provided by operating activities:      
Undistributed Earnings Of Equity Method And Other Investments 0 (394) 3,320
Provision for loan losses (518) 1,665 30
Depreciation 2,314 2,620 2,908
Amortization of OMSR 597 504 307
Amortization of acquisition intangibles 29 48 72
Amortization of Debt Issuance Costs 52 0 0
Net amortization of AFS securities 2,233 2,044 1,784
Debt Securities, Available-for-sale, Realized Gain (Loss) 0 (71) (6)
Net gain on sale of mortgage loans (1,694) (2,716) (650)
OMSR Impairment 0 316 214
Impairments (39) 51 (162)
Increase in cash value of corporate owned life insurance policies (751) (708) (722)
Bank Owned Life Insurance Income, From Policy Redemption (271) (891) 0
Loss on sale of joint venture investment 0 394 0
Loss on extinguishment of debt 0 7,643 0
Deferred income tax expense (benefit) (523) (276) 408
Origination of loans held for sale (48,957) (114,323) (39,937)
Proceeds from loan sales 51,657 115,202 40,041
Net changes in operating assets and liabilities which provided (used) cash:      
Other assets 1,208 (821) 1,512
Accrued interest payable and other liabilities 146 398 637
Net cash provided by (used in) operating activities 25,501 21,997 23,303
Activity in AFS securities      
Sales 0 26,855 33,840
Maturities, calls, and principal payments 100,289 97,844 81,543
Purchases (262,266) (28,658) (39,896)
Proceeds from Divestiture of Interest in Joint Venture 0 1,000 0
Loan principal (originations) collections, net (63,210) (52,132) (58,974)
Proceeds from sales of foreclosed assets 716 409 706
Purchases of premises and equipment (1,593) (1,518) (1,335)
Payment to Acquire Life Insurance Policy, Investing Activities (4,272) (625) 0
Proceeds from the redemption of corporate owned life insurance policies 1,114 2,387 0
Payments to Acquire Other Investments (413) (429) (404)
Net cash provided by (used in) investing activities (229,635) 45,133 15,480
FINANCING ACTIVITIES      
Net increase (decrease) in deposits 144,022 252,466 21,158
Increase (Decrease) in Federal Funds Purchased and Securities Sold under Agreements to Repurchase, Net (18,585) 37,748 (9,300)
Increase (Decrease) in Loans from Federal Home Loan Banks (70,000) (162,643) (55,000)
Proceeds from Issuance of Subordinated Long-term Debt 29,106 0 0
Cash dividends paid on common stock (8,367) (8,524) (8,282)
Proceeds from issuance of common stock 1,593 4,185 4,876
Common stock repurchased (13,758) (2,702) (4,003)
Common stock purchased for deferred compensation obligations (1,187) (1,592) (1,131)
Net cash provided by (used in) financing activities 62,824 118,938 (51,682)
Increase (decrease) in cash and cash equivalents (141,310) 186,068 (12,899)
Cash and cash equivalents at beginning of period 246,640 60,572 73,471
Cash and cash equivalents at end of period 105,330 246,640 60,572
SUPPLEMENTAL CASH FLOWS INFORMATION:      
Interest paid 7,601 14,204 17,827
Federal income taxes paid 4,050 846 745
SUPPLEMENTAL NONCASH INFORMATION:      
Transfers of loans to foreclosed assets 361 531 645
Loan Receivable, Sale of Joint Venture Investment [Line Items] 0 3,227 0
Isabella Bank Corporation and Related Companies Deferred Compensation Plan for Directors      
Reconciliation of net income to net cash provided by operating activities:      
Share-based payment awards under equity compensation plan 433 413 523
Share-based payment awards 433 413 523
Isabella Bank Corporation Restricted Stock Plan      
Reconciliation of net income to net cash provided by operating activities:      
Share-based payment awards under equity compensation plan 86 14 0
Share-based payment awards $ 86 $ 14 $ 0