A N N U A L R E P O R T
2012
t o c o m m u n i
t y b a n k i n g .
w e l c o m e
Annual Shareholder Meeting
May 7, 2013 at 5:00 p.m.
Comfort Inn & Conference Center ▪ 2424 S. Mission St., Mt. Pleasant, MI 48858
Mission Statement
To create an operating environment that will provide shareholders with
sustained growth in their investment while maintaining our independence and
subsidiaries' autonomy.
Equal Employment Opportunity
The equal employment opportunity clauses in Section 202 of the Executive Order
11246, as amended; 38 USC 4212, Vietnam Era Veterans Readjustment Act of 1974;
Section 503 of the Rehabilitation Act of 1973, as amended; relative to equal employment
opportunity and implementing rules and regulations of the Secretary of Labor are adhered
to and supported by Isabella Bank Corporation and its subsidiaries.
Richard J. Barz, Chief Executive Officer & David J. Maness, Chairman
w e l c o m e
t o c o m m u n i
t y b a n k i n g .
o u r
I n 2 0 1 2 ,
i n a s s e t s u n d e r
p e r
t o t a l
a n d
h a v e a c c o m p l
c u s t o m e r s ,
w i
d a y ,
t h o u t
c o m p a n y a c h i e v e d s e v e r a l
m i
l e s t o n e s -
,
n e t
m a n a g e m e n t
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s h a r e c a s h d i v i d e n d s o f
i s
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i s h e d
a n d e m p l o y e e s
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s h a r e h o l d e r s ,
a d o u b t
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t h o u t
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W e c o u l d n o t
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p r o v e e v e r y
.
i v e a n d w e l
t h e s u p p o r
t h a t
i s a l
l
StrESSing thE impOrtancE Of indEpEndEncE
The challenging economy and the intense regulatory
environment have both taken their toll on the
financial industry. Just five years ago, there were
8,560 FDIC insured banks in the United States, and
today, this number has fallen by 16% to 7,181. This
statistic certainly paints a picture of the consolidation
happening in our industry. On a positive note, it is
gratifying to see that we have not only made it through
these tough times, but we have been profitable and
delivered a consistent return to our shareholders.
Despite this consolidation trend, our vision is to
remain
independent. Our organization feels so
strongly about independence that it is written directly
into our strategic plan and shared with all employees.
We recognize that
in order for us to remain
independent, we need to continue to build customer
relationships, grow in new and existing markets, and
deliver consistent returns to our shareholders.
pOSitiOning OurSElvES fOr thE futurE
Our strategic plan is a vital ingredient to the future
success and sustainability of our organization. It
outlines our core values and lays
the groundwork for where we
plan to go in the future. By sharing
this vision with all employees,
they become active participants
in helping us achieve our goals.
important component of
An
our strategic plan is employee
development. Over
the past
several years we have strategically
focused resources to this area
and we are now recognized not only statewide, but
nationally, for the success we have achieved. Investing
in our greatest asset, our employees, directly impacts
the quality of service we provide to our customers and
the financial growth and profitability of our company.
Banking with lOcal dEciSiOn makErS
When it comes to selecting a bank, customers have many
options. In order to stand out from the competition,
we need to offer something different and better. Our
competitive advantage is our local decision making.
This cannot be said for all banks where, in some cases,
out-of-state bankers make the decisions. We believe
that by empowering our employees, we are able
to better serve the needs of our customers within
their communities. This has paid-off for us over and
over again as we hear positive remarks from our
customers and experience growth which surpasses
most of our competitors.
"Investing
in our greatest
asset, our employees, directly
impacts the quality of service
we provide to our customers
and the financial growth and
profitability of our company."
lEvEraging Organic
grOwth and Expanding
intO nEw markEtS
In the June 2012 FDIC reports,
we were the deposit leader in
12 of our 19 communities. We
ranked second in three other
markets. Last year, our overall
market deposits grew by 6.21%
as a result of our organic
growth within our current locations and new market
expansion initiatives.
Within our own markets, we have tremendous
opportunities to attract new customers and to
build deeper relationships with those already with
us. We want our customers to think of us beyond
their checking account needs and to be the first
bank that comes to mind when they remodel their
G r a n d O p e n i n g w i
t h a T w i s t
i n F r e e l a n d .
ribbon-cutting ceremonies and special rates are standard practices for
grand opening celebrations. in October, when we opened our freeland
Office, we decided to add a twist to the festivities. we selected four
different local non-profit organizations and asked them to be part
of our “community counts” project. then we invited the freeland
community to cast their vote for one of these organizations. the group
with the most votes (Barton woods) received $1,500 and the other three
organizations (freeland cognitive learning center, can council and
Junior achievement) took home $750 each.
home, start a business, or plan for retirement. We
are able to measure our progress by monitoring the
number of households we serve and the number of
products and services each customer has with us.
In 2012, we are proud to say we grew in both of
these areas.
Our expansions into new markets have also proven
successful. As of December 31, 2012, our Midland
office had $23.62 million and Freeland had $2.49
million in deposits. We are very appreciative to
those customers who have given the new bank in
town the opportunity to serve their financial needs.
dElivEring a rEturn tO Our SharEhOldErS
In 2012, we celebrated 31 years of consecutive dividend
growth. Given the challenges facing our industry, few
banks can say the same thing. The good news is that
our industry, as a whole, is getting stronger. A recent
report from the FDIC indicated that sixty percent of all
financial institutions showed an increase in their net
income during the fourth quarter of 2012 compared to
the same period in 2011.
On behalf of our Board and employees, thank you for
your support in 2012. We look forward to seeing you at
our annual shareholder meeting on May 7, 2013 at the
Comfort Inn and Conference Center in Mt. Pleasant.
R e c o g n i z i n g
o f
O u r
E m p l o y e e s
t h e C o n t
r
i b u t
i o n s
We would like to take this opportunity to recognize our
officer promotions in December. Mrs. Deb Campbell
(Shareholder Services) and Mr. Aaron Wirsing
(Accounting) were promoted to Vice Presidents.
Mrs. Deb Markley (Breckenridge), Mrs. Connie Katt
(Retail Lending), and Mr. Miles Coffland (Investment
& Trust Services) were promoted to Assistant Vice
Presidents. Mr. Bob Byram (Commercial Lending)
and Mr. Pat Netzley (Commercial Lending) were
promoted to Business Development Officers and
Mrs. Nora Colthorp (Hemlock) was promoted to
Branch Officer. In addition, Mr. Jerome Schwind has
moved from Big Rapids to Mt. Pleasant and taken
on the role of Chief Integration Officer. We also
welcomed Mr. Keith Kenney to the Bank to serve as
President of our Mecosta Division.
We would also like to recognize Mr. Steven Pung
who was promoted to President of Isabella Bank last
July. Steve has played a very important role in the
growth and development of our Bank over the past
34 years. His experience and wisdom will guide the
Bank into the future.
Our congratulations to Tom Wallace, President of
Isabella Bank’s Northern Division, and Jeff Smith,
Vice President of Commercial Lending, on their
recent graduation from the Graduate School of
Banking - Madison.
Community Counts
Dennis P. Angner, President
& Chief Financial Officer
I n
2 0 1 2 ,
C o r p o r a t
w a s
i n c r e a s e o f
w h e n c o m p a r e d
l a B a n k
I s a b e l
i n c o m e
i o n ’ s n e t
a n
i o n ,
l
l
$ 1 2 . 2 1 m i
i o n
$ 2 . 0 m i
l
l
t o 2 0 1 1 .
This 19.55% increase in net income is primarily
attributed to the strategic restructuring of certain
investment securities/borrowings in the first quarter
of 2012 and the significant increase in the gain on the
sale of residential mortgages to the secondary market.
Our loan quality for the Corporation continues to be
solid. As of December 31, 2012, the percentage of the
total loans classified as “non-performing” was 1.00%.
2 0 1 2 F i n a n c i a l
Safe, Growing and Profitable
H i g h l
i g h t s
▪ Record net income in 2012 of $12.21 million,
a 19.55% increase over 2011
▪ Assets at year end 2012 of $1.43 billion, a
6.93% increase over 2011
▪ Total assets under management at year end
was $2.05 billion, a 5.96% increase over 2011.
This includes loans sold and serviced and
assets managed by our Investment and Trust
Services Department.
▪ Record Earnings Per Share of $1.61
▪ Cash Dividends of $0.80 per share, a 5.26%
increase over 2011
The graph below shows the Corporation's percentage of
non-performing loans compared to our peer group over
the past four years.
non-performing loans
3.5
3
2.5
2
1.5
1
0.5
)
e
g
a
t
n
e
c
r
e
p
(
2009
2010
2011
2012
isabella Bank corporation
peer group
The Consumer Financial Protection Bureau (CFPB)
was created under the Dodd-Frank Act. In 2013,
the bureau issued final regulations which impacted
both the origination and subsequent servicing of
mortgages. The new regulations were drafted to
protect consumers from harmful mortgage products,
foreclosure practices, and other unethical practices.
However, these rules may also unintentionally restrict
or even eliminate services that customers have used
for years. As a result, banks may have less flexibility
when working with unique customer circumstances
and have higher costs associated with providing
mortgage loans. Communication of these changes by
banks to their customers and communities will be key
during this transition.
The Federal Reserve has proposed new capital
requirements which, if adopted, would require banks to
hold more capital as a percentage of assets. It would also
dramatically increase the amount of capital banks would
need to hold for residential real estate loans under the
proposed new risk based capital requirements. We are
fortunate to have maintained a solid base of capital
and are hopeful that these proposed rules will have a
minimal effect on us in the future.
Over the past five years, the Federal Reserve has reduced
the short-term borrowing rate to near zero and kept long-
term interest rates at historically low levels. For consumers,
this policy reduces the interest rate paid by borrowers
at the expense of savers. For financial institutions, it has
placed additional pressure on interest margins.
This dynamic is having a negative effect on the
Corporation’s interest income. The Corporation has
been inundated with loan requests from commercial and
residential mortgage customers to lower their interest
rates over the past 18 months. Fifteen year mortgage
rates are around 2.50% and a six year car loan is 2.94%.
It is challenging to maintain a 4.0% margin when lending
at these rates.
While the Corporation's assets grew by $92.7 million
last year, we anticipate our 2013 net interest income to
increase by less than 1.0%. As a result of the decline in
interest margins, we anticipate that 2013 earnings might
decline slightly from the tremendous 19.55% increase in
2012. We, like all banks, continue to face new regulations
and shrinking margins but I am confident our community
bank is prepared to meet these challenges.
Project^ Paper^
Our schools work very hard to stretch their dollars. this past fall, we had a
wonderful opportunity to help our schools while promoting our new facebook
page at the same time. we called the contest project paper. for every “like”
our page received, we donated a ream of paper to a local school. as a result, we
delivered 2,400 reams (1.2 million sheets) of paper to schools in our area.
P e e r
C o m p a r
G r o u p
i s o n
Regularly sharing our peer group
information is important as it gives
insight into our financial strength and
compares us to other bank holding
companies across the country. Isabella
Bank Corporation has consistently
performed well in comparison to our
peers. It is also important to note
that the financial performance of the
peer group has rebounded from 2008
which is good for the growth of the
American economy.
We subscribe to reports that compare
the financial performance of Isabella
Bank Corporation to other bank
holding companies
in the United
States who are similar in size ($1.0
billion-$3.0 billion in assets). In all,
there are 351 bank holding companies
in our peer group. There are several
key ratios that we use to monitor the
strength and soundness of Isabella
Bank Corporation: (1) Return on
Assets; (2) Problem Loans; (3) Risk
Based Capital to Risk Weighted Assets;
and (4) Problem Loans to Allowance
for Bad Debt.
return on assets (rOa)
isabella Bank corporation 0.88%
peer group 0.80%
This measures net income by the average asset size of the bank holding company. Our ROA
exceeded the peer group by 0.08%.
problem loans (nonperforming)
isabella Bank corporation 1.00%
peer group 2.19%
This measures the percent of loans that are over 90 days past due and still accruing, or placed
in non-accrual because collection is doubtful. Our total problem loans as a percentage of
loans is 1.00% compared to 2.19% for our peer group. The peer group average is over two
times higher than Isabella Bank Corporation.
risk Based capital to risk weighted assets
isabella Bank corporation 14.48%
peer group 15.41%
This measures the amount of capital held against risk based assets. The Corporation's
ratio of 14.48% is strong when compared to the required ratio of 8.00% necessary to be
considered adequately capitalized under the Federal Reserve Board's risk based capital
rules. The Corporation continues to be profitable, well capitalized and has funds available
to meet our customers' borrowing needs.
allowance for Bad debt to problem loans (nonperforming)
isabella Bank corporation 154.39%
peer group 121.08%
Allowance for Bad Debt to Problem Loans measures the amount of reserves needed for
probable loan losses on non-performing loans. We have $1.54 in reserves for every $1.00 of
nonperforming loans, which means we have more in reserves than we have problem loans.
with a total of
2,400 reams of
paper, isabella
Bank donated
enough paper to
surpass the vertical
clearance on the
mackinaw Bridge!
C e l e b r a t
R i c h
i n P h i
i n g a C u l
t u r e
l a n t h r o p y .
whether it is during or after work, our
employees do a wonderful job serving our
local communities. in fact, they feel so strongly
about community involvement, that they
created an internal website last year to help
increase awareness surrounding community
organizations and volunteer opportunities.
together, our employees volunteered over
4,300 hours with more than 150 different
in
community organizations
addition, they reached more than 8,400
children, teens, adults and senior citizens with
their financial literacy efforts. these numbers
speak volumes for our employees and their
focus on their communities.
last year.
the
" Culture is what defines
your organization, the
foundation
base,
from which you build.
It is the fabric of your
organization and each
employee represents the
threads that weave
the fabric."
- Rick Barz
(photos left to right) dave king, isabella Bank
Breckenridge division Board member (left)
and nora colthorp, isabella Bank hemlock
Branch Officer (right) presented dan keane,
hemlock farmers market (center) with a
donation to be used for the new hemlock
farmers market Barn.
isabella Bank made a donation to the college of
Business at central michigan university in mt.
pleasant to create the isabella Bank institute
for Entrepreneurship. pictured (left to right)
are Jae Evans, isabella Bank chief Operations
Officer, rick Barz, isabella Bank corporation
chief Executive Officer, Steve pung, isabella
Bank president and dr. chuck crespy, dean of
the college of Business administration.
vice president greg mapes serves members
of the community at the 2012 Shareholder
Barbeque at the comfort inn in mt. pleasant.
isabella Bank employees volunteer their time
organizing bidder information, auction items
and checking out individuals to help raise
funds for the clare Sports Boosters.
2 0 1 2 C o m m u n i
t y G i v i n g
cOmmunity SpOnSOrShip
& EvEntS
festivals, Expos & county fairs
customer appreciation days
Service Organization Support
cOmmunity
SpOnSOrShip &
EvEntS
36%
EducatiOn
38%
BaSic nEEdS
13%
EcOnOmic
dEvElOpmEnt
13%
EducatiOn
financial literacy
Scholarships for high School Seniors
Building campaigns
after School programs
athletic Boosters
BaSic nEEdS
food
Shelter
healthcare
Senior Services
Emergency relief
EcOnOmic dEvElOpmEnt
community projects
leadership development
Entrepreneurship programs
(photos left to right) assistant vice president
Sue hansen and consumer loan processor
kim wilson serve customers refreshments
during their annual customer appreciation
day in greenville.
isabella Bank employees mary welsh and
nancy Stabenow volunteer
time
organizing bidder information, auction items
and checking out individuals to help raise funds
for the goodrow foundation in mt. pleasant.
their
mecosta division president keith kenney and
assistant vice president Josh Eling present
a donation to cindy havens, director of the
mecosta-Osceola red cross, to help aid
mecosta area flood victims.
isabella Bank employees donated monetary
funds, diapers,
laundry detergent and
other household cleaning supplies to the
department of human Services (dhS) during
the holiday season. pictured with donations
are isabella Bank employee kerri hansen and
dhS representative andi pelligrini.
F i n a n c i a l
H i g h l
i g h t s
income Statement data
total interest income
net interest income
provision for loans losses
net income
Balance Sheet data
End of year assets
daily average loans
daily average assets
daily average deposits
daily average Equity
per Share data
Basic
diluted
cash dividends
market value (at year end)
tangible Book value (at year end)
financial ratios
Shareholders' Equity to assets (at year end)
return on average Equity
return on average tangible Equity
cash dividend payout to net income
return on average assets
2012
$ 56,401
$ 42,978
$ 2,300
$ 12,206
$ 1,430,639
$ 754,304
$ 1,381,083
$ 984,927
$ 160,682
$ 1.61
$ 1.56
$ 0.80
$ 21.75
$ 14.72
11.50%
7.60%
11.41%
49.76%
0.88%
2011
$ 57,905
$ 41,702
$ 3,826
$ 10,210
$ 1,337,925
$ 743,441
$ 1,287,195
$ 927,186
$ 151,379
$ 1.35
$ 1.31
$ 0.76
$ 23.70
$ 13.90
11.57%
6.74%
10.30%
56.51%
0.79%
2010
$ 57,217
$ 40,013
$ 4,857
$ 9,045
$ 1,225,810
$ 725,534
$ 1,182,930
$ 840,392
$ 145,304
$ 1.20
$ 1.17
$ 0.72
$ 17.30
$ 13.22
11.84%
6.22%
9.51%
59.93%
0.76%
(Dollars in thousands except per share data)
2009
$ 58,105
$ 38,266
$ 6,093
$ 7,800
$ 1,143,944
$ 725,299
$ 1,127,634
$ 786,714
$ 137,910
$ 1.04
$ 1.01
$ 0.70
$ 18.95
$ 12.67
12.31%
5.66%
8.53%
67.38%
0.69%
2008
$ 61,385
$ 35,779
$ 9,500
$ 4,101
$ 1,139,263
$ 717,040
$ 1,113,102
$ 817,041
$ 142,597
$ 0.55
$ 0.53
$ 0.65
$ 25.50
$ 12.27
11.80%
2.88%
4.41%
118.82%
0.37%
1,400
1,200
1,000
800
600
400
200
)
s
n
o
i
l
l
i
m
-
s
r
a
l
l
o
d
(
15,000
13,000
11,000
9,000
7,000
5,000
3,000
)
s
d
n
a
s
u
o
h
t
-
s
r
a
l
l
o
d
(
total assets
dividends per Share
0.8
0.7
0.6
0.5
0.4
0.3
0.2
)
s
r
a
l
l
o
d
(
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
net income
Ending Stock price
)
s
r
a
l
l
o
d
(
40
35
30
25
20
15
10
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Board of Directors & Senior Officers
David J. Maness
Richard J. Barz
Dennis P. Angner
Jeffrey J. Barnes, MD
Sandra L. Caul
G. Charles Hubscher
Joseph LaFramboise
Wilson C. Lauer
Thomas L. Kleinhardt
W. Joseph Manifold, CPA
W. Michael McGuire
Sarah R. Opperman
david J. manESS - chairman
President, Maness Petroleum Corporation
Sandra l. caul
State Representative (retired)
thOmaS l. klEinhardt
President, McGuire Chevrolet
richard J. BarZ
Chief Executive Officer,
Isabella Bank Corporation
dEnniS p. angnEr
President and Chief Financial Officer,
Isabella Bank Corporation
JEffrEy J. BarnES, md
Physician and Partner,
Lansing Ophthalmology, PC
g. charlES huBSchEr
President, Hubscher and Son, Inc.
JOSEph laframBOiSE
Sales and Marketing Executive,
Ford Motor Company (retired)
wilSOn c. lauEr
Principal, Lauer Farms LLC
w. JOSEph manifOld, cpa
Chief Financial Officer,
Federal Broach & Machine Co.
w. michaEl mcguirE
Director of the Office of the Corporate
Secretary, The Dow Chemical Company
Sarah r. OppErman
Principal, Opperman Consulting LLC
isabella Bank corporation Officers
RICHARD J. BARZ
Chief Executive Officer
DENNIS P. ANGNER
President and Chief Financial Officer
BARBARA A. PLACE, CPA
Senior Vice President
PEGGY L. WHEELER
Senior Vice President
DEBRA A. CAMPBELL
Vice President
CYNTHIA J. DIEHM
Vice President
GREGORY S. MAPES
Vice President
PATRICIA A. PLAXTON
Vice President
AMY C. VOGEL
Vice President
AARON D. WIRSING
Vice President
isabella Bank Officers
STEVEN D. PUNG
President
JAE A. EVANS
Chief Operations Officer
JEROME E. SCHWIND
Chief Integration Officer
DAVID J. REETZ
Chief Lending Officer
BARBARA B. DIEHM
Senior Vice President
DANIEL E. EVERSOLE
Senior Vice President
JAMES L. BINDER
Vice President
JULIE F. BOLT
Vice President
RANDY J. DICKINSON, CPA
Vice President
DAVID D. GILLESPIE
Vice President
MICHAEL K. HUENEMANN
Vice President
ROBERT K. MADSEN
Vice President
ERIKA M. ROSS
Vice President
PAUL C. SIERS
Vice President
CARRIE S. SMITH
Vice President
JEFFREY W. SMITH
Vice President
JONATHAN J. WAINWRIGHT
Vice President
PEGGY L. WHEELER
Vice President
LEO R. WICKERT
Vice President
Breckenridge division Board of directors
DALE D. WEBURG - Chairman
DENNIS P. ANGNER
RICHARD J. BARZ
DAVID J. KING
WILSON C. LAUER
TIMOTHY M. MILLER
KIRK L. SMITH
GREGORY V. VARNER
Breckenridge division Officers
TIMOTHY M. MILLER
President
BRIAN K. GOWARD
Vice President
BARBARA K. McKENZIE
Vice President
farwell division Board of directors
HERBERT R. MILLER - Chairman
DENNIS P. ANGNER
RICHARD J. BARZ
THOMAS E. KEDROWSKI
THOMAS L. KLEINHARDT
W. MICHAEL McGUIRE
STEVEN D. PUNG
LARRY R. SCHOFIELD
THOMAS J. WALLACE
farwell division Officers
THOMAS J. WALLACE
President
MELODY M. DARNELL
Vice President
TIMOTHY M. WILSON
Division Senior Lender
greenville division Board of directors
JAMES M. MULLENDORE, Jr. - Chairman
DENNIS P. ANGNER
RICHARD J. BARZ
KIRKWOOD E. FABER, DDS
DEBRA JORGENSEN-HUCH
ALEXANDER R. KEMP
GREGORY D. MILLARD
RICHARD K. RUSSO
BRIAN R. SACKETT
greenville division Officers
RICHARD K. RUSSO
President
KATHY J. KORSON
Vice President
DAVID W. SEPPALA
Vice President
mecosta division Board of directors
RICHARD J. BARZ
Dr. RALPH P. CREW
KEVIN J. DEFEVER
LAWRENCE E. EMIG
KEITH E. KENNEY
JOSEPH LaFRAMBOISE
STEVEN D. PUNG
JEROME E. SCHWIND
mecosta division Officers
KEITH E. KENNEY
President
financial group information Services
Board of directors
DENNIS P. ANGNER
RICHARD J. BARZ
JAE A. EVANS
THOMAS L. KLEINHARDT
JOSEPH LaFRAMBOISE
W. MICHAEL McGUIRE
DAVID J. MANESS
TIMOTHY M. MILLER
STEVEN D. PUNG
JONATHAN J. WAINWRIGHT
financial group information
Services Officers
JONATHAN J. WAINWRIGHT
President
JULIE A. HUBER
Vice President
Board of Directors and Senior Officers as of March 2013
Recognizing our Board Retirees and New Directors
we would like to recognize two retirements from our Board in 2012: mr. James c.
fabiano and mr. dale d. weburg. On behalf of the isabella Bank corporation and isabella
Bank Boards, we would like to express our sincere appreciation to these individuals for
their dedication and service to our Bank. Both mr. fabiano's and mr. weburg’s strong
leadership qualities, astute business sense and passion for our local communities have
been tremendous assets to our Bank. we wish them the very best in their retirement as
they devote more time to their own businesses.
mr. fabiano had been a director of isabella Bank since 1979 and the corporation since
1988. he served as the corporation’s chairman from 2004 to 2010. most recently, he
served on the loan, nominating and corporate governance and compensation and
human resource committees.
James c. fabiano
mr. weburg had served as a director of the Breckenridge division of the Bank since 1987
and the Bank and corporation Boards since 2000. most recently, he served as chairman
of our technology subsidiary, financial group information Services as well as served on
the Board’s compensation and human resource committee.
dale d. weburg
in 2012, we welcomed two highly respected members of our communities to our Board,
ms. Sarah Opperman and mr. wilson lauer.
ms. Opperman owns her own company, which provides public affairs counsel for corporate
clients. previously, she was employed by the dow chemical company for 28 years, where
she held leadership roles in public and government affairs. a life-long resident of mid-
michigan, ms. Opperman is active in the community, serving on the central michigan
university Board of trustees and cmu research corporation Board of directors. She also
is a member of the midmichigan health corporate Board, the midland united way and
first united methodist church. She and her husband, dan, reside in midland.
mr. lauer has served as a director for the isabella Bank Breckenridge division Board
since 1997 and he is the owner of lauer farms llc, a 2,500 acre cash crop business. Over
the years, mr. lauer has served several different community organizations including
the ithaca School district Board, the gratiot Economic development Board, and farm
Bureau’s county and State policy development committees. he is currently on the board
of directors for resurrection life church and victory christian Outreach. he and his wife,
connie, reside in ithaca.
Sarah r. Opperman
wilson c. lauer
Isabella Bank Employee Retirements
kEn hOwEll - 40 years
vice president, consumer loans
Breckenridge
pat Oman - 29 years
assistant vice president, loan Officer
farwell
kay Blackman - 23 years
new accounts representative
Breckenridge
dianE cOurtEr - 21 years
customer Service representative, Bookkeeping
mt. pleasant
pam cOvEy - 15 years
customer Service representative
& new accounts
mt. pleasant
pat giBSOn - 9 years
teller
Big rapids
SuE StrahOta - 4 years
loan Officer
clare
I n v e s t
O u r
i n g
i n
F u t u r e
Our employees and directors
have a vested interest in the
success of our organization.
as of december 31, 2012,
our employees, directors
and their families owned
approximately 15% of our
outstanding shares.
Shareholder Services
For Information, Contact Debra Campbell
(989) 779-6237 │ 401 N. Main St., Mt. Pleasant, MI 48558
or visit www.isabellabank.com ► Investors
Stock Information
Isabella Bank Corporation common stock is traded in the
over the counter market. The common stock is quoted on
the OTCQB tier of the OTC Markets Group, Inc.’s electronic
quotation system (www.otcmarkets.com) under the
symbol “ISBA”. Other trades in the common stock occur
in privately negotiated transactions from time to time of
which the Corporation may have little or no information.
Current stock price and availability can be obtained by
contacting a licensed broker or through the Investment and
Trust Services Department at Isabella Bank. To learn more
about Isabella Bank Corporation, visit the Investors tab at
www.isabellabank.com or contact Shareholder Services.
Investors Tab - www.isabellabank.com
Stock Price Information
Email Alerts on Closing Stock Price
Direct Stock Repurchase Plan
Dividend Reinvestment
Current News
Isabella Bank Corporation │ 401 N. Main Street │ Mt. Pleasant, MI 48858