ISABELLA BANK CORP

Isabella Bank Corporation announced that Grand River Commerce, Inc. shareholders approved the previously announced Agreement and Plan of Merger. The transaction, which involves a series of mergers including Grand River Bank and Isabella Bank, is anticipated to close in the fourth quarter of 2026, pending regulatory approvals and customary closing conditions.

Isabella Bank Corporation announced a merger agreement with Grand River Commerce, Inc., expected to close in Q4 2026, creating a pro forma company with approximately $2.7 billion in total assets. Concurrently, the company reported Q2 2026 net income of $5.04 million, a slight increase from $5.03 million year-over-year, with basic EPS rising to $0.69. The company also entered an equity distribution agreement to sell up to $30.0 million in common stock.

Isabella Bank Corporation reported net income of $5.0 million, or $0.69 per diluted share, for the second quarter of 2026, compared to $5.0 million, or $0.68 per diluted share, for the same period in 2025. The company achieved significant loan growth of $30.7 million and an improved net interest margin of 3.54%. Additionally, Isabella Bank announced a merger agreement with Grand River Commerce, Inc., completed a successful at-the-market stock offering, and was added to the Russell 2000® Index.

Isabella Bank Corporation and its wholly-owned subsidiary, Isabella Bank, have entered into an Equity Distribution Agreement with Piper Sandler & Co. This agreement allows the Company to issue and sell up to $30,000,000 of its common stock through an "at the market" offering. The Company will set the parameters for sales and pay the Agent a commission of up to 3.0% of the gross sales price. The net proceeds from the offering are intended for general corporate purposes, including contributing to the Bank's capital to support its lending activities and growth.

Isabella Bank Corporation (ISBA) announced a definitive agreement to merge with Grand River Commerce, Inc. The transaction will be structured as a merger of a wholly-owned subsidiary of Isabella into Grand River, followed by a merger of Grand River into Isabella, and a subsequent merger of their respective bank subsidiaries. Grand River shareholders will have the option to receive cash or Isabella common stock, with proration applied to ensure 65% of shares are exchanged for stock and 35% for cash. Outstanding Grand River stock options will be cashed out.

Isabella Bank Corporation announced it will acquire Grand River Commerce, Inc. in a cash and stock transaction valued at approximately $54.6 million. The acquisition is expected to expand Isabella's presence into the Grand Rapids market and create a combined entity with approximately $2.8 billion in assets. The deal, which aligns with Isabella's strategic objectives, is anticipated to close in the fourth quarter of 2026 and is projected to be accretive to Isabella's earnings per share.

Isabella Bank Corporation announced that its Board of Directors declared a second-quarter cash dividend of $0.28 per common share. This dividend will be paid on June 30, 2026, to shareholders who are on record as of June 26, 2026. Based on the closing stock price of $41.59 per share on May 26, 2026, the annualized cash dividend yield is 2.69%.

Isabella Bank Corporation reported a significant increase in net income and earnings per share for the first quarter of 2026, with net income rising 26.4% to $4.99 million and basic EPS increasing 28.3% to $0.68. The company also saw growth in total assets, deposits, and loans held for investment. However, the provision for credit losses increased, and accumulated other comprehensive loss widened due to unrealized losses on available-for-sale securities.

Isabella Bank Corporation reported strong first-quarter 2026 earnings, with net income increasing 26% to $5.0 million, or $0.68 per diluted share, compared to the prior year. The growth was driven by a $27.2 million increase in loans (excluding mortgage brokers) and a $40.2 million rise in total deposits. The company also saw its net interest margin improve to 3.33% and maintained strong credit quality with nonperforming loans at 0.28% of total loans.