Dollar rebounds despite Fed independence worries; euro slips
MT. PLEASANT, Mich. - Isabella Bank Corporation (OTCQX:ISBA) announced on Thursday an expansion of its share repurchase program. The program’s capacity has been increased by 500,000 shares, bringing the total number of shares that can be repurchased to 538,448. This decision by the Company’s Board of Directors marks a continuation of the repurchase initiative that has been active since 2007, with 2,554,126 shares already bought back to date. The company, currently valued at $192.5 million, has demonstrated strong market performance with a 52% return over the past year and trades at a P/E ratio of 12.4.InvestingPro analysis reveals several positive indicators for ISBA, with additional insights available to subscribers.
The enhanced share repurchase program does not have a set expiration date. Isabella Bank Corporation will conduct repurchases based on various factors, including the stock’s market price, market conditions, the availability of shares, and the needs of the Company’s employee stock purchase and dividend reinvestment plan. The Company emphasized that there is no guaranteed quantity of shares to be repurchased and that the program’s terms could be adjusted, paused, or discontinued at any time at the Company’s discretion without prior notification. Notably, the company maintains a strong dividend program with an attractive 4.31% yield and has consistently paid dividends for 18 consecutive years.
Isabella Bank Corporation serves as the parent holding company for Isabella Bank, a community bank established in 1903. For over a century, the bank has focused on meeting the local banking needs of its customers and communities. Isabella Bank offers a range of services, including personal and commercial lending, deposit products, and investment, trust, and estate planning services, with branches spread across eight counties in Mid-Michigan.
The common stock of Isabella Bank Corporation is traded on the OTCQX, the top tier of the OTC Markets Group Inc.’s electronic quotation system, under the ticker symbol "ISBA." The Company’s investor relations are managed by Stonegate Capital Partners, Inc.
This announcement is based on a press release statement from Isabella Bank Corporation.
In other recent news, Isabella Bank Corporation is advancing its application to list its common shares on the Nasdaq Capital Market, despite the current volatility in the financial sector. This strategic move aims to enhance shareholder value by providing better access to capital, increased trading volume, and improved stock liquidity. The company’s CEO, Jerome Schwind, highlighted the potential for increased visibility and future acquisitions following a successful listing. The uplisting process is contingent on Nasdaq’s approval and meeting all necessary criteria, with a possible target date for completion by April 2025. Additionally, Isabella Bank Corporation has declared a first-quarter cash dividend of $0.28 per share, payable to shareholders on March 31, 2025. This dividend announcement reflects a yield of 4.55% based on the recent stock price. Investors are reminded that these announcements include forward-looking statements subject to risks and uncertainties.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.