---
schema_version: "secwatch.filing_event.v1"
accession: "0000842517-26-000158"
form_type: "8-K"
ticker: "ISBA"
cik: "0000842517"
company_name: "ISABELLA BANK CORP"
filed_at: "2026-06-15T21:17:21+00:00"
generated_at: "2026-06-15T21:18:16.484445+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Isabella Bank Corp signs merger with Grand River Commerce; $18.3M cash plus 839K shares

## Summary
- 65% stock / 35% cash mix; estimated ~$5.72 per share cash and ~0.1415 exchange ratio based on 9.12M Grand River shares.
- Grand River shareholders will vote on merger; boards of both companies unanimously approved.
- Closing requires regulatory approvals (Federal Reserve, Michigan DIFS), shareholder approval, Nasdaq listing, and tax opinion.
- Grand River must pay a $2.18M termination fee if the deal terminates under specified circumstances.
- Voting agreements secured from Grand River directors and officers to vote their shares in favor of the merger and charter amendment.

## SEC filing metadata
- accession: 0000842517-26-000158
- form_type: 8-K
- ticker: ISBA
- cik: 0000842517
- company_name: ISABELLA BANK CORP
- filed_at: 2026-06-15T21:17:21+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/842517/000084251726000158/0000842517-26-000158-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/842517/000084251726000158/isba-20260611.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000842517-26-000158
- JSON: https://secwatch.observer/filing/0000842517-26-000158.json
- Plain text: https://secwatch.observer/filing/0000842517-26-000158.txt

## Key facts
- Material Agreements
  ISABELLA BANK CORP entered into Agreement and Plan of Merger with Grand River Commerce, Inc. (effective 2026-06-11).
  - Action: entry
  - Agreement: merger
  - Counterparty: Grand River Commerce, Inc.
  - Effective: 2026-06-11
  source text: On June 11, 2026, Isabella Bank Corporation, a Michigan corporation (“Isabella”), 401 Merger Sub, Inc., a Michigan corporation and a wholly owned subsidiary of Isabella (“Merger Sub”), and Grand River Commerce, Inc., a Michigan corporation (“Grand River”), entered into an Agreement and Plan of Merger (the “Merger Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/842517/000084251726000158/0000842517-26-000158-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.