Exhibit 99.1

For Immediate Release

Isabella Bank Corporation

401 North Main Street

Mt. Pleasant, MI 48858-1649

FOR MORE INFORMATION CONTACT:

Amber Zaske, Community Relations

Phone: 989-779-6309 Fax: 989-775-5501

Isabella Bank Corporation Announces First Quarter 2022 Earnings

Solid start to 2022 with net income of $4.7 million

Mt. Pleasant, Michigan, April 21, 2022 — Isabella Bank Corporation (the “Corporation”) (OTCQX: ISBA) has released solid earnings results for the first quarter of 2022. The Corporation reported net income of $4.7 million and earnings per common share of $0.63.

First quarter 2022 highlights include:

•Net interest income improved, compared to first quarter 2021, as interest expense declined 39%.

•Credit quality remained strong, with nonperforming loans representing only 0.06% of gross loans.

•Deposits grew $53.8 million, or 3.1% compared to December 31, 2021, largely driven by new customer accounts.

•Shareholders earned a cash dividend of $0.27 per share, with an annualized dividend yield of 4.18%, as of March 31, 2022.

“We have started the year with solid financial results for the first quarter," said Jae A. Evans, President & CEO. “As we look ahead, there are concerns about the impact inflation and events in other parts of the world may have on the financial services industry. However, as the Federal Reserve considers additional interest rate hikes throughout 2022 and beyond, we expect the yield on loans and investments to rise, enhancing the Bank's net interest margin.

"Amidst this uncertainty, our longstanding focus remains the same - invest in our communities, and in advanced technology that enhances the customer experience while actively pursuing strategies that reward our shareholders with an attractive dividend," Evans added.

Operating Results

Net income: Net income for the first quarter 2022 was $4.7 million, compared to $5.4 million in the first quarter of 2021, largely as the result of changes in loan provision and mortgage originations, as described below.

Net interest income: Net interest income for first quarter 2022 increased $278,000 compared to the same period in 2021. While interest income declined $528,000 due to low interest rates and a decrease in the Paycheck

Protection Program fee income, interest expense also decreased $806,000, or 38.6%, largely due to a reduction in higher-cost borrowings over the last year. During the first quarter, a $37,000 provision for loan losses expense was recorded, compared to a $523,000 provision reversal in the first quarter 2021 as our initial concerns over potential credit quality issues related to the onset of the pandemic did not materialize.

Noninterest income and expenses: Noninterest income increased $15,000 during the first quarter of 2022, compared to the same period in 2021. A $514,000 increase in service charges and fees nearly offset a $521,000 reduction in gain on sale of loans as residential mortgage originations declined by over 60%. Noninterest expenses for the first quarter increased $503,000, as a result of increased compensation and professional services as well as donations and community relations expenses as charitable organizations resumed activities and events.

Net yield on interest earning assets: The Corporation’s fully taxable equivalent net yield on interest earning assets was 2.86% for the first quarter of 2022, flat with the fourth quarter of 2021 and down from 2.98% compared to the same period in 2021. As rates began to decline in 2020, the implementation of strategic programs focused on improving the net yield, which included enhanced loan pricing and a reduced reliance on higher-cost borrowed funds and brokered deposits as funding sources, helped to minimize further declines in our net interest margin. If rates rise as expected, margin improvement is likely.

Balance Sheet

Assets: The Corporation had $2.1 billion in total assets and $2.8 billion of assets under management as of March 31, 2022. Managed assets included loans sold and serviced of $275.6 million and $501.8 million in investment and trust assets managed by Isabella Wealth.

Loans: Loans outstanding as of March 31, 2022 total $1.2 billion. During the first quarter, gross loans declined $82.7 million, largely driven by a $72 million reduction in advances to mortgage brokers, which is included within the commercial loan portfolio.

Deposits: Total deposits climbed to $1.8 billion as of March 31, 2022, an increase of $53.8 million, or 3.1%, since December 31, 2021. Growth in the first quarter is largely the result of new customer accounts.

Capital: The Bank is considered a “well-capitalized” institution, as its capital ratios exceeded the minimum designated requirements. As of March 31, 2022, the Bank’s Tier 1 Leverage Ratio was 8.74%, Tier 1 Capital Ratio was 13.83% and Total Capital Ratio was 14.56%. The minimum requirements to be considered well capitalized are a Tier 1 Leverage Ratio of 5.0%, Tier 1 Capital Ratio of 8.0% and Total Capital Ratio of 10.0%.

Dividend: During the first quarter of 2022, the Corporation paid a $0.27 per common share cash dividend. Based on the Corporation’s closing stock price of $25.85 as of March 31, 2022, the annualized cash dividend yield was 4.18%.

About the Corporation

Isabella Bank Corporation (OTCQX: ISBA) is the parent holding company of Isabella Bank, a state chartered community bank headquartered in Mt. Pleasant, Michigan. Isabella Bank was established in 1903 and has been committed to serving the local banking needs of its customers and communities for 119 years. The Bank offers personal and commercial lending and deposit products, as well as investment, trust, and estate planning services through Isabella Wealth. The Bank has locations throughout seven Mid-Michigan counties: Clare, Gratiot, Isabella, Mecosta, Midland, Montcalm, and Saginaw.

For more information about Isabella Bank Corporation, visit the investors link at www.isabellabank.com. Isabella Bank Corporation common stock is quoted on the OTCQX tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.” The Corporation’s market maker is Boenning & Scattergood, Inc. (www.boenninginc.com) and its investor relations firm is Renmark Financial Communications, Inc. (www.renmarkfinancial.com).

Forward-Looking Statements

This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from the actual results. Additional information concerning some of the factors that could cause materially different results is included in the sections titled “Risk Factors” and “Forward Looking Statements” set forth in Isabella Bank Corporation’s filings with the Securities and Exchange Commission, which are available from the Securities and Exchange Commission’s Public Reference facilities and from its website at www.sec.gov.

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(Dollars in thousands)

			March 31 2022						December 31 2021
ASSETS
Cash and cash equivalents
Cash and demand deposits due from banks			$	18,611					$	25,563
Interest bearing balances due from banks			142,575						79,767
Total cash and cash equivalents			161,186						105,330
Available-for-sale securities, at fair value			544,919						490,601
Mortgage loans available-for-sale			969						1,735
Loans
Commercial			727,614						807,439
Agricultural			88,169						93,955
Residential real estate			328,559						326,361
Consumer			74,029						73,282
Gross loans			1,218,371						1,301,037
Less allowance for loan and lease losses			9,204						9,103
Net loans			1,209,167						1,291,934
Premises and equipment			24,339						24,419
Corporate owned life insurance policies			32,341						32,472
Equity securities without readily determinable fair values			15,095						17,383
Goodwill and other intangible assets			48,298						48,302
Accrued interest receivable and other assets			24,619						19,982
TOTAL ASSETS			$	2,060,933					$	2,032,158
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits
Noninterest bearing			$	461,473					$	448,352
Interest bearing demand deposits			387,187						364,563
Certificates of deposit under $250 and other savings			843,341						818,841
Certificates of deposit over $250			72,160						78,583
Total deposits			1,764,161						1,710,339
Borrowed funds
Federal funds purchased and repurchase agreements			51,353						50,162
FHLB advances			10,000						20,000
Subordinated debt, net of unamortized issuance costs			29,181						29,158
Total borrowed funds			90,534						99,320
Accrued interest payable and other liabilities			10,396						11,451
Total liabilities			1,865,091						1,821,110
Shareholders’ equity
Common stock — no par value 15,000,000 shares authorized; issued and outstanding 7,542,758 shares (including 111,482 shares held in the Rabbi Trust) in 2022 and 7,532,641 shares (including 105,654 shares held in the Rabbi Trust) in 2021			129,189						129,052
Shares to be issued for deferred compensation obligations			4,691						4,545
Retained earnings			78,295						75,592
Accumulated other comprehensive income (loss)			(16,333)						1,859
Total shareholders’ equity			195,842						211,048
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY			$	2,060,933					$	2,032,158

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

(Dollars in thousands except per share amounts)

			Three Months Ended   March 31
			2022						2021
Interest income
Loans, including fees			$	12,378					$	13,097
Available-for-sale securities
Taxable			1,615						1,165
Nontaxable			660						865
Federal funds sold and other			109						163
Total interest income			14,762						15,290
Interest expense
Deposits			936						1,668
Borrowings
Federal funds purchased and repurchase agreements			9						16
FHLB advances			72						405
Subordinated debt, net of unamortized issuance costs			266						—
Total interest expense			1,283						2,089
Net interest income			13,479						13,201
Provision for loan losses			37						(523)
Net interest income after provision for loan losses			13,442						13,724
Noninterest income
Service charges and fees			2,209						1,695
Wealth management fees			754						696
Net gain on sale of mortgage loans			224						745
Earnings on corporate owned life insurance policies			210						186
Gains from redemption of corporate owned life insurance policies			52						146
Other			98						64
Total noninterest income			3,547						3,532
Noninterest expenses
Compensation and benefits			6,074						5,877
Furniture and equipment			1,450						1,373
Occupancy			966						945
Other			2,830						2,622
Total noninterest expenses			11,320						10,817
Income before federal income tax expense			5,669						6,439
Federal income tax expense			935						1,041
NET INCOME			$	4,734					$	5,398
Earnings per common share
Basic			$	0.63					$	0.68
Diluted			$	0.62					$	0.67
Cash dividends per common share			$	0.27					$	0.27

AVERAGE BALANCES, INTEREST RATE, AND NET INTEREST INCOME (UNAUDITED)

(Dollars in thousands)

The following schedules present the daily average amount outstanding for each major category of interest earning assets, non-earning assets, interest bearing liabilities, and noninterest bearing liabilities. These schedules also present an analysis of interest income and interest expense for the periods indicated. All interest income is reported on a fully taxable equivalent (FTE) basis using a federal income tax rate of 21%. Loans in nonaccrual status, for the purpose of the following computations, are included in the average loan balances. Federal Reserve Bank (FRB) and Federal Home Loan Bank (FHLB) restricted equity holdings are included in other interest earning assets.

			Three Months Ended
			March 31, 2022																		March 31, 2021
			Average Balance						Tax Equivalent Interest						Average Yield / Rate						Average Balance						Tax Equivalent Interest						Average Yield / Rate
INTEREST EARNING ASSETS
Loans			$	1,235,788					$	12,378					4.01		%				$	1,201,693					$	13,097					4.36		%
Taxable investment securities			421,503						1,615						1.53		%				190,450						1,165						2.45		%
Nontaxable investment securities			101,604						920						3.62		%				131,850						1,194						3.62		%
Fed funds sold			3						—						0.06		%				2						—						0.01		%
Other			163,353						109						0.27		%				295,104						163						0.22		%
Total earning assets			1,922,251						15,022						3.13		%				1,819,099						15,619						3.43		%
NONEARNING ASSETS
Allowance for loan losses			(9,128)																		(9,833)
Cash and demand deposits due from banks			26,839																		28,944
Premises and equipment			24,461																		25,151
Accrued income and other assets			102,805																		113,101
Total assets			$	2,067,228																	$	1,976,462
INTEREST BEARING LIABILITIES
Interest bearing demand deposits			$	383,474					$	50					0.05		%				$	315,189					$	77					0.10		%
Savings deposits			615,335						159						0.10		%				531,302						149						0.11		%
Time deposits			290,146						727						1.00		%				367,892						1,442						1.57		%
Federal funds purchased and repurchase agreements			49,058						9						0.07		%				54,145						16						0.12		%
FHLB advances			14,889						72						1.93		%				90,000						405						1.80		%
Subordinated debt, net of unamortized issuance costs			29,166						266						3.65		%				—						—						—		%
Total interest bearing liabilities			1,382,068						1,283						0.37		%				1,358,528						2,089						0.62		%
NONINTEREST BEARING LIABILITIES
Demand deposits			458,343																		383,189
Other			16,898																		13,910
Shareholders’ equity			209,919																		220,835
Total liabilities and shareholders’ equity			$	2,067,228																	$	1,976,462
Net interest income (FTE)									$	13,739																	$	13,530
Net yield on interest earning assets (FTE)															2.86		%																2.98		%

SELECTED FINANCIAL DATA (UNAUDITED)

(Dollars in thousands except per share amounts)

			Three Months Ended
			March 31 2022						March 31 2021						March 31 2020
PER SHARE
Basic earnings			$	0.63					$	0.68					$	0.39
Diluted earnings			$	0.62					$	0.67					$	0.38
Dividends			$	0.27					$	0.27					$	0.27
Tangible book value			$	19.56					$	21.35					$	21.10
Quoted market value
High			$	26.00					$	22.50					$	24.50
Low			$	24.50					$	19.45					$	16.00
Close (1)			$	25.85					$	21.75					$	18.00
Common shares outstanding (1)			7,542,758						7,958,883						7,921,291
Average number of common shares outstanding			7,533,711						7,969,462						7,892,421
Average number of diluted common shares outstanding			7,639,688						8,088,524						8,055,607
PERFORMANCE RATIOS
Return on average total assets			0.92		%				1.09		%				0.68		%
Return on average shareholders' equity			9.02		%				9.78		%				5.68		%
Return on average tangible shareholders' equity			11.72		%				12.53		%				7.35		%
Net interest margin yield (FTE)			2.86		%				2.98		%				2.98		%
ASSETS UNDER MANAGEMENT (1)
Loans sold with servicing retained			$	275,556					$	298,514					$	257,285
Assets managed by Isabella Wealth			$	501,829					$	454,459					$	359,968
Total assets under management			$	2,838,318					$	2,768,405					$	2,433,157
ASSET QUALITY (1)
Nonaccrual status loans			$	747					$	4,532					$	6,913
Performing troubled debt restructurings			$	22,335					$	28,947					$	20,228
Foreclosed assets			$	187					$	384					$	564
Net loan charge-offs (recoveries)			$	(64)					$	(50)					$	30
Nonperforming loans to gross loans			0.06		%				0.38		%				0.59		%
Nonperforming assets to total assets			0.05		%				0.26		%				0.43		%
Allowance for loan and lease losses to gross loans			0.76		%				0.78		%				0.74		%
CAPITAL RATIOS (1)
Shareholders' equity to assets			9.50		%				10.83		%				11.87		%
Tier 1 leverage			8.12		%				8.56		%				9.09		%
Common equity tier 1 capital			12.83		%				13.77		%				12.72		%
Tier 1 risk-based capital			12.83		%				13.77		%				12.72		%
Total risk-based capital			15.84		%				14.54		%				13.41		%

(1) At end of period

SUPPLEMENTAL BALANCE SHEET DATA (UNAUDITED)

(Dollars in thousands)

			March 31 2022						December 31 2021						September 30 2021						June 30 2021						March 31 2021
Commercial			$	727,614					$	807,439					$	757,993					$	723,888					$	725,540
Agricultural			88,169						93,955						93,782						95,197						91,629
Residential real estate			328,559						326,361						321,620						312,567						305,909
Consumer			74,029						73,282						75,163						75,011						72,840
Gross loans			$	1,218,371					$	1,301,037					$	1,248,558					$	1,206,663					$	1,195,918

			March 31 2022						December 31 2021						September 30 2021						June 30 2021						March 31 2021
Noninterest bearing demand deposits			$	461,473					$	448,352					$	430,950					$	428,410					$	404,710
Interest bearing demand deposits			387,187						364,563						374,137						326,971						328,440
Savings deposits			635,195						596,662						572,136						549,134						555,688
Certificates of deposit			279,708						297,696						312,027						326,214						331,413
Brokered certificates of deposit			—						—						—						—						14,029
Internet certificates of deposit			598						3,066						3,066						5,777						9,301
Total deposits			$	1,764,161					$	1,710,339					$	1,692,316					$	1,636,506					$	1,643,581

			March 31 2022						December 31 2021						September 30 2021						June 30 2021						March 31 2021
U.S. Treasury			$	218,268					$	209,703					$	192,069					$	132,593					$	29,371
States and political subdivisions			114,015						121,205						128,689						130,960						140,329
Auction rate money market preferred			2,867						3,242						3,246						3,260						3,224
Mortgage-backed securities			49,578						56,148						62,030						68,155						75,835
Collateralized mortgage obligations			152,441						92,301						100,767						109,294						116,865
Corporate			7,750						8,002						7,583						4,192						1,700
Available-for-sale securities, at fair value			$	544,919					$	490,601					$	494,384					$	448,454					$	367,324

			March 31 2022						December 31 2021						September 30 2021						June 30 2021						March 31 2021
Securities sold under agreements to repurchase without stated maturity dates			$	51,353					$	50,162					$	67,519					$	62,274					$	51,967
FHLB advances			10,000						20,000						60,000						70,000						90,000
Subordinated debt, net of unamortized issuance costs			29,181						29,158						29,136						29,121						—
Total borrowed funds			$	90,534					$	99,320					$	156,655					$	161,395					$	141,967

SUPPLEMENTAL STATEMENTS OF INCOME DATA (UNAUDITED)

(Dollars in thousands)

			Three Months Ended March 31
			2022						2021
Service charges and fees
ATM and debit card fees			$	1,093					$	999
Service charges and fees on deposit accounts			609						436
Net OMSR income (loss)			264						(32)
Freddie Mac servicing fee			171						214
Other fees for customer services			72						78
Total service charges and fees			2,209						1,695
Wealth management fees			754						696
Net gain on sale of mortgage loans			224						745
Earnings on corporate owned life insurance policies			210						186
Gains from redemption of corporate owned life insurance policies			52						146
Other			98						64
Total noninterest income			$	3,547					$	3,532

			Three Months Ended March 31
			2022						2021
Compensation and benefits			$	6,074					$	5,877
Furniture and equipment			1,450						1,373
Occupancy			966						945
Other
Audit, consulting, and legal fees			549						436
ATM and debit card fees			434						417
Donations and community relations			287						146
Marketing costs			239						209
Memberships and subscriptions			217						211
Director fees			201						159
Loan underwriting fees			182						190
FDIC insurance premiums			125						231
All other			596						623
Total other noninterest expenses			2,830						2,622
Total noninterest expenses			$	11,320					$	10,817