Isabella Bank Corp（ISBA）资讯与事件ISBAIsabella Bank Corp

Isabella Bank Reports Record Net Income in Q3, NIM Improves to 3.71%

Net interest margin improved to 3.71%, up from 3.15% in third quarter 2025.Tangible book value per share was $25.78 as of September 30, 2026, compared to $25.01 as of December 31, 2025. "Isabella Bank Corporation reported a record quarter of net income, supported by continued expansion in our net interest margin," said President and CEO Jerome Schwind. "We are pleased with the increase in deposit balances, which further strengthens the Corporation's funding position. Overall, the quarter reflected positive earnings momentum. We also have received required regulatory and shareholder approvals to complete the acquisition of Grand River Commerce and Grand River Bank. This is a key milestone and the transaction is on track for our anticipated November 2, 2026 close. Importantly, this merger supports our disciplined growth strategy by expanding our customer base and presence in West Michigan. We are keenly focused on a smooth integration and clear communication with customers and employees to assure continued strong customer service."

Isabella Bank and Grand River Commerce Merger Approved

Isabella Bank Cand Grand River Commerce "announced the receipt of all required regulatory approvals necessary to complete their previously announced merger pursuant to the Agreement and Plan of Merger, dated as of June 11, 2026, by and among Isabella, Grand River and 401 Merger Sub, Inc. In addition, Grand River's shareholders voted to approve the merger on September 18, 2026. The merger is expected to close on November 2, 2026, pending satisfaction of customary closing conditions."

Isabella Bank to Acquire Grand River Commerce for Approximately $54.6M

Isabella Bank and Grand River Commerce entered into an Agreement and Plan of Merger whereby Isabella will acquire Grand River in a cash and stock transaction valued at approximately $54.6M. As a result of the proposed transaction, Grand River will be merged with and into a wholly-owned merger subsidiary of Isabella, immediately followed by the merger of Grand River with and into Isabella, with Isabella continuing as the surviving entity. Headquartered in Grandville, Michigan, with an additional office in northeast Grand Rapids, Michigan, Grand River had approximately $511.7M in assets, $437.9M in loans and $438.9M in deposits as of March 31. The combined pro forma company is expected to have total assets of $2.8 billion. The combined company will have 33 locations in nine Michigan counties: Bay, Clare, Gratiot, Isabella, Kent, Mecosta, Midland, Montcalm and Saginaw offering personal and commercial lending and deposit products, as well as investment, trust and estate planning services. Under the terms of the Agreement, which has been unanimously approved by the Boards of Directors of both companies, each share of Grand River common stock issued and outstanding immediately prior to the effective time of the Merger will have the right to elect to receive, subject to adjustment in accordance with the Agreement the amount of cash equal to the quotient of $18,262,391 divided by the Cash Conversion Number, as defined in the Agreement; or a number of shares of Isabella common stock equal to the quotient of 839,003 shares of Isabella common stock divided by the difference of the aggregate number of shares of Grand River Common Stock issued and outstanding immediately prior to the Effective Time minus the Cash Conversion Number, as defined in the Agreement. Elections will be subject to proration procedures whereby 65% of the shares of Grand River common stock will be exchanged for the Per Share Stock Consideration and 35% of the shares of Grand River common stock will be exchanged for the Cash Per Share Consideration. Based on the assumption of 9,122,073 number of shares of Grand River common stock issued and outstanding as of the Effective Time, the Per Share Cash Consideration to be paid is estimated to be approximately $5.72 and the Exchange Ratio is estimated to be 0.1415. The companies expect to complete the proposed transaction in the fourth quarter of 2026, subject to the satisfaction of customary closing conditions, including the receipt of all required regulatory approvals and approval by Grand River's shareholders.