XML 17 R8.htm IDEA: XBRL DOCUMENT v3.23.2
Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Statement of Cash Flows [Abstract]    
Interest Paid, Excluding Capitalized Interest, Operating Activities $ 7,715 $ 2,530
OPERATING ACTIVITIES    
NET INCOME 9,951 10,029
Reconciliation of net income to net cash provided by operating activities:    
Provision for loan losses 237 522
Depreciation 994 1,077
Amortization of OMSR 77 55
Amortization of acquisition intangibles 2 8
Amortization of Debt Issuance Costs 45 45
Net amortization of AFS securities 745 1,080
Debt Securities, Available-for-sale, Realized Gain (Loss) (67) 0
Net gain on sale of mortgage loans (123) (394)
Mortgage Servicing Rights (MSR) Impairment (Recovery) 0 (532)
Bank Owned Life Insurance Income, Net of Expense 445 411
Other Real Estate, Foreclosed Assets, and Repossessed Assets, Valuation Adjustments 75 4
Bank Owned Life Insurance Income, From Policy Redemption 0 (57)
Payments for Origination of Mortgage Loans Held-for-sale (3,719) (12,708)
Proceeds from Sale of Mortgage Loans Held-for-sale 3,859 13,931
Net changes in operating assets and liabilities which provided (used) cash:    
Accrued interest receivable and other assets 2,696 1,848
Accrued interest payable and other liabilities 208 (35)
Net cash provided by (used in) operating activities 14,941 14,780
Activity in AFS securities    
Proceeds from Sale of Debt Securities, Available-for-sale 18,089 0
Maturities and calls 38,288 37,833
Purchases (6,166) (139,500)
Net loan principal (originations) collections (70,397) 29,099
Proceeds from sales of foreclosed assets 279 77
Purchases of premises and equipment (1,824) (827)
Proceeds from Life Insurance Policy 0 388
Proceeds from Sale of Federal Home Loan Bank Stock 0 2,288
Payments to Acquire Other Investments (612) (39)
Net cash provided by (used in) investing activities (22,343) (70,681)
FINANCING ACTIVITIES    
Net increase (decrease) in deposits (29,327) 49,527
Increase in other borrowed funds (20,669) (2,915)
Increase (Decrease) in Loans from Federal Home Loan Banks 55,000 (10,000)
Cash dividends paid on common stock (4,107) (4,007)
Proceeds from issuance of common stock 846 907
Common stock repurchased (2,409) (397)
Common stock purchased for deferred compensation obligations (976) (527)
Increase (decrease) in cash and cash equivalents (9,044) (23,313)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 29,880 82,017
Cash and cash equivalents at beginning of period 38,924  
Cash and cash equivalents at end of period 29,880  
Net cash provided by (used in) financing activities (1,642) 32,588
SUPPLEMENTAL CASH FLOWS INFORMATION:    
Federal income taxes paid 1,400 1,200
SUPPLEMENTAL NONCASH INFORMATION:    
Transfers of loans to foreclosed assets 170 103
Investment of low income housing tax credits, non cash component 5,000 0
Condensed Cash Flow Statements, Captions [Line Items]    
Debt Securities, Available-for-sale, Realized Gain (Loss) 67 0
Proceeds from Sale of Debt Securities, Available-for-sale 18,089 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 Arrangement, Noncash Expense 428 249
Condensed Cash Flow Statements, Captions [Line Items]    
Share-based payment awards $ 428 $ 249