ISABELLA BANK CORPORATION
ANNUAL REPORT
2016 CUSTOMER
a person or organization with whom we strive to build lasting relationships and create mutual trust.
synonyms: consumer, purchaser, client, patron
We hope you enjoy reading the features highlighting Isabella Bank’s commitment to our customers. Through our wide variety
of lending products, we are helping our customers be successful and provide a positive impact within their communities.
Our Vision is to be recognized as the leading independent community bank.
Mission Statement
To provide high quality, personalized service to our customers
To enhance shareholder value through strategic growth and profitability
To be the employer of choice by providing equitable compensation, a positive work
environment, and opportunity for advancement
To promote economic growth, business development, and community service
Core Values
Demonstrate unwavering integrity
Community bank focused
Continued stability and independence
Exceptional customer service delivered in a personal manner
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.
2016 YEAR in REVIEW
David J. Maness, Chairman and Jae A. Evans, Chief Executive Officer
Growth and Progress in 2016
“Without continual growth and progress, such words as improvement, achievement, and success
have no meaning.” ~ Benjamin Franklin
GROWTH
Growth is imperative to the success of our company.
We are proud to report 2016 was another successful
year for Isabella Bank Corporation. Based on our
closing stock price of $27.85 on December 30, 2016,
our Shareholders realized an annualized cash dividend
yield of 3.52% and received a 4.26% increase in cash
dividends over 2015.
In 2016, total assets increased to $1.73 billion and
assets under management grew to a record $2.43
billion – which includes loans sold and serviced, and
assets managed by the Investment and Trust Services
Department of $700.58 million.
Our growth in assets was largely driven by our loan
growth. In 2016, our loan portfolio increased $160.12
million which represents a 18.83% increase over 2015.
The increase can be primarily attributed to $127.28
million occurring within the commercial loan portfolio.
Strategies we implemented in 2016 to improve our
processes for mortgage and consumer loans also
contributed to the increased volume. These strategies,
coupled with our community banking philosophy, and
focus on delivering excellent customer service, have
been instrumental in this achievement.
CONSERVATION
Throughout our 114 year legacy, the financial industry
has experienced tremendous change. At Isabella Bank
Growth Corporation, we embrace change while preserving
our core values and mission. We believe it is our
social responsibility to be a leader in driving economic
growth, business development, and community
service while maintaining our integrity, community
bank focus, sustainability, and exceptional service.
These values serve as the foundation for laying out our
strategy for future growth and development.
As you know, in 2015 we expanded our presence
in Saginaw County. The addition of a branch at the
intersection of Bay and Tittabawassee Roads generated
an opportunity for Isabella Bank to better serve the
Saginaw area, and presented the need for an additional
location in the Saginaw market.
In January of this year, we opened a Loan Production
Office (LPO) in the newly renovated Eddy Building in
downtown Saginaw. We are excited to be a part of the
revitalization taking place in downtown Saginaw and
look forward to expanding our presence in the greater
Saginaw area.
CATALYST
Our success is dependent on the success of our
customers and communities. Throughout this report,
we have highlighted some of the relationships and
projects we are proud to be a part of. These projects
some of the projects Isabella Bank supported in 2016.
Our donations serve as a catalyst to solicit and secure
additional community support and project completion.
RENEWAL
For Isabella Bank, 2016 was a year of renewal. From
updating our Midland location, launching a new website
and brand, to rolling out a new training opportunity,
2016 represented a new beginning as we implemented
initiatives to enhance our customers’ experiences.
As you are aware, in 2015, Isabella Bank expanded its
presence in Midland with the acquisition of a second
location. The branch office on South Saginaw Road
was part of Midland’s Center City and needed some
updating. In October, 2016 we officially completed
the renovations and hosted a community event to
celebrate our new surroundings. Chamber members,
community leaders, and customers attended the event
and were able to see first-hand our commitment to the
Midland community.
Our renewal continued as we updated our website
and introduced a new tag line. Consumer banking
preferences evolve and it is imperative we evolve with
them. Our new tag line, bank local. bank anywhere,
reminds our customers we are a local community
bank with the products and services to bank with us
are generating new jobs, providing affordable housing,
expanding agriculture, and improving the economy.
from anywhere. Our enhanced website provides our
customers with the same great service online as we
provide in our branches.
Our customers efforts are reinforced by the community
initiatives we support. The Mecosta County Chamber
of Commerce Capital Building Fund, Saginaw Future,
Clare Depot Project, Middle Michigan Development
Corporation, and Greater Gratiot Development are
As we begin to renew our approach to serving our
customers, employee training plays an important role
in our success. In 2016, we launched a new professional
development program to enhance the level of service
we are providing our customers. We will continue our
efforts in 2017 to introduce additional employees to
the program. We know providing the right products
and services is not enough; we must also be viewed as
a trusted advisor in our customer’s eyes to help them
meet their financial goals.
LOOKING AHEAD
In 2017, our strategic direction remains focused on our
Shareholders, Customers, and Employees. Through
improved customer
initiatives,
enhanced growth
products and tools, internal process improvements,
employee development, and sales training, we will
continue to fulfill our mission and strengthen our
core values.
As we focus on 2017 and beyond, we continue to
explore opportunities for growth. Online account
opening, Mobile Wallet capabilities, increased lending
through the U.S. Small Business Administration,
and continued process improvements are just a few
initiatives we will be implementing over the next year.
Through these initiatives, we will continue to build on
the foundations of our success: Brand Enhancement,
Growth, Financial Success, and Shareholder Value.
On behalf of our Board of Directors, thank you for
making an investment in Isabella Bank Corporation.
We look forward to visiting with you at our annual
shareholder meeting on May 2, 2017 at 5:00 p.m. at
the Comfort Inn Conference Center in Mt. Pleasant.
Jae A. Evans, CEO
David J. Maness, Chairman
SAGINAW LOAN PRODUCTION OFFICE OPEN
The Saginaw Loan Production Office (LPO) is Isabella
Bank’s fourth office in Saginaw County. It is located in the
historic Eddy Building, and offers mortgage, commercial,
construction, consumer, and agricultural loans.
“We are excited to expand our presence in Saginaw
County,” stated Jerome Schwind, President and
Chief Operations Officer. “With our new location,
we can better serve the residents and businesses of
Downtown Saginaw.”
MIDLAND EAST RENOVATIONS COMPLETE
In October, 2016, Isabella Bank completed the remodel
of our Midland branch located in Center City. The
Midland location received a new façade, flooring, teller
line, and offices among many other cosmetic changes.
“It is important to Isabella Bank to help revitalize and
renew the communities we serve,” stated Schwind.
“We know that starts with our locations.”
JGT Land Holdings - Turkey Facility
EMPLOYEE RECOGNITION
JGT Land Holdings, LLC is a third generation farm
near Carson City. In 2016, JGT began an extensive
expansion project to increase their turkey production.
Through their efforts, they created additional work
for local contractors, new job opportunities, and an
increase in food production in Michigan.
“We were glad to have a bank partner with expertise
in agriculture as well as a willingness to help,” stated
JGT Land Holdings Co-owner Caleb Duflo. “We were
looking for a local bank and Isabella Bank stepped up.”
The project is anticipated to be completed in March
of 2017. JGT’s operation will average sales of 150,000
birds per year in addition to their already successful
operation.
LaBelle Realty - Campus Commons
LaBelle Realty is a full service real estate sales, leasing
and development company in Mt. Pleasant, Michigan.
In 2016, they began construction on a retail plaza with
student housing.
Campus Commons is a 17,500 square feet mixed use
development located on South Mission Street. The
ground floor will consist of 3 or 4 retail/commercial
tenants and the 2nd and 3rd floors will consist of
four apartments with 4 bedrooms and 4 ½ baths.
Construction commenced in August of 2016 with
expected completion of May-June 2017.
“Isabella Bank worked hard to secure financing for
this project,” stated Brandon LaBelle, Owner of
LaBelle Realty. “We choose Isabella Bank because of
our relationship. They are always very professional
and timely when getting us proposals.”
In 2016, we celebrated alongside our employees as they hit both professional and personal milestones.
Please help us recognize the following employees on their recent officer promotions, banking school
graduations, and retirements.
OFFICER PROMOTIONS
Suzi Fussman
Accounting Officer
Deb Grinzinger
Assistant Vice President, Mortgages
Leslie Thielen
Vice President, Consumer Lending
Tim Wilson
Vice President, Farwell Office
Tracy Zayler
Vice President, Stanton Office
MBA PERRY SCHOOL OF BANKING
Kelly Hopkins
Credit Analyst, Department Manager
Peggy Mohr
Loan Processor, Mortgages
Harry Steib
Branch Manager, Freeland Office
RETIREMENTS
June Bush, 42 years
Judy Duzenbury, 30 years
Roberta Johnston, 17 years
Connie Katt, 35 years
Dawn Rolston, 20 years
Betty Stiff, 43 years
Madonna Taylor, 21 years
Marie Walker, 22 years
Our success is a direct result of the hard work,
dedication, and support Isabella Bank employees
provide every day. In 2016, Isabella Bank introduced
a new ‘Trusted Advisor’ training to enhance our sales
culture and deepen customer relationships. The
training is an ongoing program designed to advance
the customer experience.
The ‘Trusted Advisor’ training teaches our team to
focus on adding value, maximize opportunities, and
better serve our customers. Through this development
process, employees will create and demonstrate sales
strategies, connect with customers, collaborate to
find solutions, and grow relationships.
Casair - Hi-Speed Internet/Phone to Rural Communities
FINANCIAL REPOR T
Dennis P. Angner, President & Chief Financial Officer
Since its inception in 1987, Casair has experienced
significant growth as an organization. Casair provides
internet, phone, and commercial solutions
to
residents and businesses in central Michigan. In
2016, they grew to over 50 employees, expanded
their fiber and wireless network, as well as provided
significantly faster internet connections to residential
and commercial residents.
“Being a tech company, we appreciate Isabella Bank’s
tech services,” stated Steve Meinhardt, President of
Casair. “They offered us the services we needed and
were willing to work on our complex grant situation.
Isabella Bank provided a seamless transition from our
previous financial provider.”
Culver’s - Big Rapids Expansion
Eleven years ago, Wisconsin residents Pete and Katy
Spohn decided to move to Michigan and open Culver’s
in Mt. Pleasant. Since then, they have expanded into
Midland, Lansing, and their newest addition, Big
Rapids which is scheduled to open in May 2017.
The Big Rapids restaurant will provide over 50
new jobs to the area and offer residents another
option in dining. In addition to providing jobs to the
communities, the Spohn’s also offer their restaurant
managers part ownership of the location they are
managing.
“Isabella Bank has been an intricate part of our growth,”
stated Pete Spohn, Co-owner. “They stepped up to help
when we were looking for a financial partner.”
In 2016, Isabella Bank Corporation recorded earnings
of $13.80 million and earnings per common share
of $1.77. Our earnings were primarily the result
of increased interest income which was driven by
outstanding loan growth during 2016. As of December
31, 2016, nonperforming assets to total assets were
0.11%, which was a significant decrease compared to
2012, which was 0.68%. Our continued improvement
in asset quality allowed us to record a reversal of
$135,000 in the allowance for loan losses into pre-tax
earnings in 2016. Over the past three years we have
reversed $3.57 million of previously recorded provision
for loan losses into pre-tax earnings. At year end 2016,
the allowance for loan losses to total loans was 0.73%,
a decline of 0.14% from year end 2015, and the lowest
we have recorded over the past 40 years.
Total assets ended the year at $1.73 billion and our
average assets increased 6.02% over 2015. Total assets
under management, which includes loans serviced and
assets managed by the Investment and Trust Services
Department, were a record $2.43 billion. Total loans
grew by 18.83%, with commercial and agricultural
loans increasing a combined total of 24.43%. As
reported last year, our major initiative was to enhance
our retail lending line of business to increase both
our market presence and share. Those enhancements
were successful as loans to consumers, which include
residential mortgages, increased for the first time since
2012, increasing 7.78% during 2016.
Our net interest income, similar to the entire industry,
continues to be under pressure due to the continuation
of the historically low interest rate environment. The
fully taxable equivalent (FTE) interest rate on earning
assets declined from 3.80% in 2015 to 3.71% in 2016,
while the cost to fund those assets increased from
0.83% in 2015 to 0.84% in 2016. Despite the decline
in the spread between what we earn on assets and
what we pay to fund those assets, our FTE net interest
income increased $1.22 million during 2016 as a result
of an increase in average assets of $95.86 million.
In December 2016, similar to December 2015 the
Federal Reserve Bank raised its discount rate by 25
basis points. At year end 2016, there was widespread
agreement that the Federal Reserve Bank would most
likely raise interest rates at least 75 basis points in
2017. Given the sub 2.00% Gross Domestic Product
growth in the 4th quarter of 2016 and the past 8 years
of extraordinary low interest rates, it is still unknown
how long before interest rates “normalize” and relieve
the pressure on interest margins in the banking
industry. Our commitment to balance sheet growth
continues to be our strategy to increase net interest
income during this time. I encourage you to review the
following pages which outline our key performance
measures and ratios.
Dennis P. Angner, CFO
FINANCIAL HIGHLIGHTS
(Dollars in thousands except per share data)
Income Statement Data
Interest Income
Interest Expense
Net Interest Income
Provision for Loan Losses
Noninterest Income
Noninterest Expenses
Federal Income Tax Expense
Net Income
Per Share Data
Basic Earnings
Diluted Earnings
Dividends
Tangible Book Value*
Quoted Market Value
High
Low
Close*
2016
2015
2014
2013
2012
$ 53,666
$ 10,865
$ 42,801
$ (135)
$ 11,108
$ 37,897
$ 2,348
$ 13,799
$ 1.77
$ 1.73
$ 0.98
$ 18.16
$ 29.90
$ 27.25
$ 27.85
$ 51,502
$ 10,163
$ 41,339
$ (2,771)
$ 10,359
$ 36,051
$ 3,288
$ 15,130
$ 1.95
$ 1.90
$ 0.94
$ 17.30
$ 29.90
$ 22.00
$ 29.90
$ 51,148
$ 9,970
$ 41,178
$ (668)
$ 9,325
$ 35,103
$ 2,344
$ 13,724
$ 1.77
$ 1.74
$ 0.89
$ 16.59
$ 24.00
$ 21.73
$ 22.50
$ 50,418
$ 11,021
$ 39,397
$ 1,111
$ 10,175
$ 33,755
$ 2,196
$ 12,510
$ 1.63
$ 1.59
$ 0.84
$ 15.62
$ 26.00
$ 21.12
$ 23.85
$ 53,123
$ 13,423
$ 39,700
$ 2,300
$ 11,530
$ 34,361
$ 2,363
$ 12,206
$ 1.61
$ 1.56
$ 0.80
$ 14.72
$ 24.98
$ 21.75
$ 21.75
Common Shares Outstanding*
7,821,069
7,799,867
7,776,274
7,723,023
7,671,846
Performance Ratios
Return on Average Total Assets
Return on Average Shareholders’ Equity
Return on Average Tangible Shareholders’ Equity
Net Interest Margin Yield (Fully Taxable Equivalent)
0.82%
7.12%
9.95%
3.00%
0.95%
8.33%
11.46%
3.10%
0.90%
8.06%
10.80%
3.24%
0.86%
7.67%
10.71%
3.22%
0.88%
7.60%
11.41%
3.43%
Balance Sheet Data*
Gross Loans
Available-for-Sale Securities
Total Assets
Deposits
Borrowed Funds
Shareholders’ Equity
Gross Loans to Deposits
Assets Under Management*
Loans Sold with Servicing Retained
Assets Managed by our Investment
& Trust Services Department
Total Assets Under Management
Asset Quality*
Nonperforming Loans to Gross Loans
Nonperforming Assets to Total Assets
Allowance for Loan and Lease
Losses to Gross Loans
Capital Ratios*
Shareholders' Equity to Assets
Tier 1 Leverage
Common Equity Tier 1 Capital
Tier 1 Risk-Based Capital
Total Risk-Based Capital
2016
2015
2014
2013
2012
$ 1,010,615
$ 558,096
$ 850,492
$ 660,136
$ 836,550
$ 567,534
$ 810,777
$ 512,062
$ 774,627
$ 504,010
$ 1,732,151
$ 1,668,112
$ 1,549,543
$ 1,493,137
$ 1,430,639
$ 1,195,040
$ 1,164,563
$ 1,074,484
$ 1,043,766
$ 1,017,667
$ 337,694
$ 187,899
84.57%
$ 309,732
$ 183,971
73.03%
$ 289,709
$ 174,594
77.86%
$ 279,326
$ 160,609
77.68%
$ 241,001
$ 164,489
76.12%
$ 272,882
$ 287,029
$ 288,639
$ 293,665
$ 303,425
$ 427,693
$ 405,109
$ 383,878
$ 351,420
$ 319,301
$ 2,432,726
$ 2,360,250
$ 2,222,060
$ 2,138,222
$ 2,053,365
0.17%
0.11%
0.09%
0.07%
0.50%
0.33%
0.42%
0.32%
1.00%
0.68%
0.73%
0.87%
1.21%
1.42%
1.54%
10.85%
8.56%
12.39%
12.39%
13.04%
11.03%
8.52%
13.44%
13.44%
14.17%
11.27%
8.59%
N/A
14.08%
15.19%
10.76%
8.46%
N/A
13.68%
14.93%
11.50%
8.29%
N/A
13.24%
14.49%
* at end of year
Total Assets Assets Under Management
Net Income
Dividends Per Common Share
Ending Stock Price
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2013
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2016
BOARD OF DIRECTORS
Pictured left to right: G. Charles Hubscher, W. Michael McGuire, Gregory V. Varner, David J. Maness, Dr. Jeffrey J. Barnes, Jae A. Evans,
Joseph LaFramboise, Dennis P. Angner, Thomas L. Kleinhardt, W. Joseph Manifold, Sarah R. Opperman, and Richard J. Barz.
DAVID J. MANESS - Chairman
President,
Maness Petroleum Corporation
JAE A. EVANS
Chief Executive Officer,
Isabella Bank Corporation
DENNIS P. ANGNER
President and Chief Financial Officer,
Isabella Bank Corporation
DR. JEFFREY J. BARNES
Physician and Shareholder,
L.O. Eye Care
RICHARD J. BARZ
Chief Executive Officer (retired),
Isabella Bank Corporation
G. CHARLES HUBSCHER
President,
Hubscher and Son, Inc.
THOMAS L. KLEINHARDT
President,
McGuire Chevrolet
JOSEPH LAFRAMBOISE
Sales and Marketing Executive (retired),
Ford Motor Company
W. JOSEPH MANIFOLD, CPA
Chief Financial Officer (retired),
Federal Broach & Machine Co.
W. MICHAEL MCGUIRE
Director of the Office of the Corporate Secretary (retired),
The Dow Chemical Company
SARAH R. OPPERMAN
Principal,
Opperman Consulting, LLC
GREGORY V. VARNER
Research Director,
Michigan Bean Commission
ISABELLA BANK CORPORATION
OFFICERS
JAE A. EVANS
Chief Executive Officer
DENNIS P. ANGNER
President,
Chief Financial Officer
BARBARA A. PLACE, CPA, CBA, CRCM
Senior Vice President
DEBRA A. CAMPBELL
Vice President
CYNTHIA J. DIEHM
Vice President
JULIE A. HUBER, CGEIT
Vice President,
Chief Technology Officer
PATRICK J. MEASE, SPHR, SHRM-SCP
Vice President
MICHAEL P. PRISBY
Vice President
RHONDA S. TUDOR, CPA
Vice President
AMY C. VOGEL
Vice President,
Chief Risk Officer
ISABELLA BANK OFFICERS
JEROME E. SCHWIND
President, Chief Operations Officer
DAVID J. REETZ
Senior Vice President,
Chief Lending Officer
MICHAEL R. COLBY
President, East Division
BRIAN K. GOWARD
President, Breckenridge Division
KEITH E. KENNEY
President, Mecosta Division
DAVID W. SEPPALA
President, Greenville Division
BARBARA B. DIEHM
Senior Vice President
THOMAS J. WALLACE
Senior Vice President
PEGGY L. WHEELER
Senior Vice President
KIMBERLY K. BETTS
Vice President
SENIOR OFFICERS
& DIVISION BOARDS
ISABELLA BANK OFFICERS CONT.
JAMES L. BINDER
Vice President
JULIE F. BOLT
Vice President
MARK K. DENOYELLES
Vice President
RANDY J. DICKINSON, CPA, CTFA
Vice President
JOSHUA A. ELING
Vice President
DONALD F. FORSTER
Vice President
THOMAS N. GROSS
Vice President
SHELLEY K. HOBBS
Vice President
MICHAEL K. HUENEMANN
Vice President
KATHY J. KORSON
Vice President
ROBERT K. MADSEN
Vice President
GREGORY S. MAPES
Vice President
GREGORY S. MATTHEWS
Vice President
BARBARA K. MCKENZIE
Vice President
MICHELLE L. MEASE
Vice President
ERIKA M. ROSS
Vice President
CARRIE S. SMITH
Vice President
JEFFREY W. SMITH
Vice President
LESLIE J. THIELEN
Vice President
KARLA A. WALKER
Vice President
BRECKENRIDGE DIVISION BOARD OF
DIRECTORS
GREGORY V. VARNER - Chairman
DENNIS P. ANGNER
BRIAN K. GOWARD
DAVID J. KING
TIMOTHY M. MILLER
JEROME E. SCHWIND
JEFFREY E. SHERWOOD
KIRK L. SMITH
BRENT C. WILSON
NORTHERN DIVISION BOARD OF
DIRECTORS
SHARI R. BUCCILLI
MICHAEL L. JENKINS
THOMAS L. KLEINHARDT
W. MICHAEL MCGUIRE
JEROME E. SCHWIND
STEVEN L. STARK
GREENVILLE DIVISION BOARD OF
DIRECTORS
DENNIS P. ANGNER
BLAKE R. HOLLENBECK
DEBRA JORGENSEN-HUCH
ALEXANDER R. KEMP
GREGORY D. MILLARD
BRIAN R. SACKETT
JEROME E. SCHWIND
DAVID W. SEPPALA
KATHY J. VANDERLAAN
MECOSTA DIVISION BOARD OF
DIRECTORS
DR. RALPH P. CREW
KEVIN J. DEFEVER
KEITH E. KENNEY
JOSEPH LAFRAMBOISE
JEROME E. SCHWIND
LEO R. WICKERT, State Licensed Appraiser
Vice President
TIM M. WILSON
Vice President
SANDY M. YUNCKER
Vice President
TRACY A. ZAYLER
Vice President
As of March 2017
The Wildlife Gallery - Business Expansion
Established in 1994, The Wildlife Gallery started as a
small shop at the home of founder, Brad Eldred. Today,
the company is headquartered in Blanchard, Michigan
and is the largest tannery in the United States.
Through expansion in 2016, The Wildlife Gallery hired
13 additional employees and now employs over 130
people throughout their footprint. They are servicing
clients in all 50 states and are investing in efficiencies
for their taxidermy and tanning lines.
“Isabella Bank stepped up when we needed them,”
stated Nate Walters, Chief Financial Officer. “We
wanted to be associated with a local bank that was
highly involved in the community. We are loyal to
them, because they are loyal to us.”
Big Rapids Housing Commission - Meadow Park
The Big Rapids Housing Commission was created in
1963 to provide safe, affordable housing for the Big
Rapids Community. Recently, the Big Rapids Housing
Commission acquired the Meadow Park project in an
effort to provide additional affordable housing in the
Big Rapids market.
“We chose Isabella Bank to help us with our project
because they were willing to understand the complexity
and look outside of the box,” stated Executive Director,
Mark Sochocki. “Isabella Bank wants to become
involved in revitalizing our community.”
Renovations will be done to each unit as well as the
exterior of the building. Once completed, the Meadow
Park project will become home to 24 individuals/
families. “We wanted to fix a ‘problem property’ and
improve the community,” stated Sochocki.
STOCK INFORMATION
Isabella Bank Corporation common stock is traded in the over the counter market. The 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”. Other
trades in the common stock occur in privately negotiated transactions from time to time of which the Corporation may have
limited or no information. Current stock price and availability can be obtained by contacting Shareholder Services, the Isabella
Bank Investment and Trust Services Department, Boenning & Scattergood, Inc. or a licensed broker.
SHAREHOLDER SER VICES
For more information, contact Debra Campbell
(989) 779-6237 | 401 North Main Street, Mt. Pleasant, MI 48858
or www.isabellabank.com Investors
TRANSFER AGENT
Isabella Bank Corporation
(989) 779-6237 | 401 North Main Street, Mt. Pleasant, MI 48858
CORPORATE BROKER
Boenning & Scattergood, Inc.
(866) 326-8113 | 9922 Brewster Lane, Powell, OH 43065
or www.boenninginc.com
LEGAL COUNSEL
Foster Swift Collins & Smith, PC
313 South Washington Square, Lansing, MI 48933
or www.fosterswift.com
INDEPENDENT CER TIFIED PUBLIC ACCOUNTING FIRM
Rehmann Robson LLC
5800 Gratiot Rd. Suite 201, Saginaw, MI 48638
or www.rehmann.com
ANNUAL SHAREHOLDER MEETING
May 2, 2017 at 5:00 p.m.
Comfort Inn Conference Center l 2424 South Mission Street, Mt. Pleasant, MI 48858
This report 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 actual results. Additional information concerning some of the
factors that could cause materially different results is included in the sections entitled “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.
ISBA
401 NORTH MAIN STREET, MT. PLEASANT, MI 48858