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/PRNewswire/ Isabella Bank Corporation (the "Corporation") (OTCQX: ISBA) announced today the final results of its modified "Dutch auction" tender offer (the.
Isabella Bank Corporation Announces First Quarter 2021 Earnings
Strong results reflect strategic moves; loan portfolio metrics remain strong
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MT. PLEASANT, Mich., April 22, 2021 /PRNewswire/ Isabella Bank Corporation (the Corporation ) (OTCQX: ISBA) released its earnings results for the first quarter of 2021. The Corporation reported net income of $5.4 million and earnings per common share of $0.68.
First quarter 2021 highlights include:
Net interest income was $13.2 million in the first quarter of 2021 and increased $1.2 million when compared to the same period in 2020.
Elimination of debt and higher-cost funding throughout 2020 and a decline in interest rates led to a $2.1 million decline in interest expenses in the first quarter of 2021 compared to the same period in 2020.