ISABELLA BANK CORPORATION (OTCMKTS:ISBA) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition.
On February 17, 2021, Isabella Bank Corporation issued a press release announcing its results of operations for the quarter and year ended December 31, 2020.
A copy of the press release is filed as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.
The information in this Item 2.02 of Form 8-K and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing made by the registrant under the Securities Act of 1933, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such filing.
Section 5 – Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) Restricted Stock Plan On February 17, 2021, the registrant made restricted stock award determinations under the Isabella Bank Corporation Restricted Stock Plan (the “RSP”) with respect to the June 24, 2020 initial RSP awards to Jae Evans, Jerome Schwind and Neil McDonnell. When calculating the degree to which each participant had satisfied their annual performance targets for 2020, the registrant excluded the effect of the Federal Home Loan Bank debt extinguishment and the sale of the Corporation\’s joint venture investment in Corporate Settlement Solutions, LLC. Based on this determination Mr. Evans received 2,428 shares of unvested restricted stock, Mr. Schwind received 1,278 shares of unvested restricted stock and Mr. McDonnell received 952 shares of unvested restricted stock.
Section 9 – Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
ISABELLA BANK Corp Exhibit
EX-99.1 2 earningsrelease_20201231xe.htm EX-99.1 DocumentExhibit 99.1For Immediate ReleaseIsabella Bank Corporation401 North Main StreetMt. Pleasant,…
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About ISABELLA BANK CORPORATION (OTCMKTS:ISBA)
Isabella Bank Corporation is a financial services holding company. The Company’s subsidiary, Isabella Bank, has approximately 30 banking offices located throughout Clare, Gratiot, Isabella, Mecosta, Midland, Montcalm and Saginaw counties. The Company offers a range of banking services to businesses, institutions and individuals. Its lending activities include loans for commercial and agricultural operating and real estate purposes, residential real estate loans and consumer loans. Deposit services offered include checking accounts, savings accounts, certificates of deposit, direct deposits, cash management services, mobile and Internet banking, electronic bill pay services and automated teller machines. The Company also offers full service trust and brokerage services. The Company provides group life, health, accident, disability and other insurance programs, as well as a number of other employee benefit programs.
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