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Isabella Bank Corp (NASDAQ:ISBA) reported the immediate termination of William M. Schaefer as Chief Financial Officer, according to a press release statement filed with the SEC. The company notified Mr. Schaefer of his termination on August 28, 2025. The filing states that the decision was not related to any disagreement over the company’s operations, policies, or practices, and that Mr. Schaefer was not aware of any deficiencies in financial or operating controls at the time of his departure.
Following Mr. Schaefer’s exit, Neil McDonnell, currently President of Isabella Bank , the corporation’s wholly-owned subsidiary, has been appointed interim CFO. Mr. McDonnell will maintain his role as President of the Bank while the company conducts a national search for a permanent Chief Financial Officer. According to the filing, Mr. McDonnell previously served as CFO of Isabella Bank Corp for six years prior to becoming President of the Bank in January 2024.
The company’s common stock is listed on the Nasdaq Stock Market under the symbol ISBA. The information in this article is based on a press release statement filed with the Securities and Exchange Commission.
In other recent news, Piper Sandler has adjusted its price target for Isabella Bank Corp to $34.00, down from $37.50. The firm maintained a Neutral rating on the stock, citing lower peer multiples as the reason for the adjustment. Piper Sandler applied a 10.5x multiple to its 2026 earnings per share estimate, a decrease from the previous 12.0x multiple, although this still represents a premium compared to peers trading at 8.9x earnings. Additionally, Isabella Bank Corp has announced the resignation of Chad R. Payton from its board of directors, as well as from the board of its subsidiary, Isabella Bank. The resignation was effective as of June 25 and included all board committees on which Mr. Payton served. The company clarified that Mr. Payton’s departure was not due to any disagreements with the board or the company. These developments are part of recent changes affecting Isabella Bank Corp.
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