Isabella Bank Q1 net income falls to $3.1M from $5.3M YoY; EPS $0.42 vs $0.70

ISABELLA BANK CORP

2024-Q1 EPS reported $0.42

Net income of $3.1M ($0.42 diluted EPS) vs $5.3M ($0.70) in Q1 2023; net interest margin compressed to 2.78% from 3.22%.
Total loans grew $16M to $1.37B; commercial loans up $18.3M, led by construction and real estate sectors.
Deposits increased $44.6M to $1.77B; wealth management AUM rose $89.2M to $660.6M.
Nonperforming loans remained low at 0.09% of total loans; allowance for credit losses $13.4M.
Quarterly cash dividend maintained at $0.28 per share.

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