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what it is
Isabella Bank takes local deposits and turns them into farm, business, mortgage, and consumer loans across 7 Michigan counties.
how it gets paid
Last year Isabella Bank made $96M in revenue. commercial and agricultural loans was the main engine at $33M, or 34% of sales.
why it's growing
Revenue grew 6.7% last year. $71 million mattered most because it is nearly 74% of the company's $96 million trailing annual revenue.
what just happened
Revenue hit $71M and EPS reached $1.92, far above the prior-year quarter.
At a glance
B+ balance sheet — decent shape, but not bulletproof
70/100 earnings predictability — reasonably predictable
20.7x trailing p/e — priced about right
2.5% dividend yield — cash in your pocket every quarter
$2.56 fy2025 eps est
xvary composite: 65/100 — average
What they do
Isabella Bank takes local deposits and turns them into farm, business, mortgage, and consumer loans across 7 Michigan counties.
This bank wins the old-fashioned way: 31 offices across 7 Michigan counties keep it physically close to customers and their money. As of September 30, 2025, it held $1.9 billion in deposits against a $322 million market cap. Deposit base → customer funding → cheaper money to lend, so what: if your customers already park their cash with you, leaving is annoying and funding stays sticky.
How they make money
$96M
annual revenue · their business grew +6.7% last year
commercial and agricultural loans
$33M
residential real estate loans
$24M
consumer loans
$10M
deposit and cash management fees
$19M
trust brokerage and insurance
$10M
The products that matter
takes deposits and makes loans
Community Banking
$84M net interest income
this is the engine. it produced $84M last year, or 87.5% of the bank's $96M total revenue. if you want the short version, this is it.
core profit engine
manages client assets and estates
Trust Services
inside $12M fee income
trust fees sit inside the $12M non-interest income bucket. that's only 12.5% of revenue, so the fee business helps diversify the story without changing it.
fee support
sells investment products
Brokerage Services
ancillary, not thesis-driving
this also sits inside the same $12M fee bucket, and the current snapshot does not break it out further. that tells you enough: it is too small to offset weaker spread income on its own.
add-on revenue
Key numbers
$1.9B
total deposits
That is the funding base. In plain English, customers have parked almost six times the company's market value at this bank.
$2.2B
total assets
This tells you Isabella is small in stock market terms but still runs a real balance sheet with billions deployed.
20.7x
trailing p/e
You are paying over 20 times trailing earnings for a bank whose EPS fell from $2.91 in 2022 to $1.86 in 2024.
2.5%
dividend yield
The payout gives you some cash back while you wait, but it is not high enough to rescue the stock if earnings weaken further.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 2 — safer than 80% of stocks
- price stability 85 / 100
- long-term debt $59M (16% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for ISBA right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Revenue hit $71M and EPS reached $1.92, far above the prior-year quarter.
EDGAR shows latest-quarter revenue rose 184% vs. prior year to $71 million, while EPS rose 170% to $1.92. That contrasts sharply with the quarterly history showing 2024 full-year EPS of $1.86 after $2.40 in 2023 and $2.91 in 2022.
$71M
revenue
$1.92
eps
+184%
revenue vs. last year
the number that mattered
$71 million mattered most because it is nearly 74% of the company's $96 million trailing annual revenue, which tells you the quarter was unusually large.
source: company earnings report, 2026
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What could go wrong
the top risk is deposit-cost pressure in a Michigan-focused spread business.
high
spread compression
$84M of the bank's $96M revenue comes from net interest income. if loan yields ease faster than deposit costs, most of the income statement feels it at once.
this is the whole model in one line item. there is no bigger number on the page.
med
michigan credit concentration
you own a community bank tied to one state economy. the current 3.9% unemployment backdrop helps, but weaker local labor or credit conditions would hit growth and loan quality in the same footprint.
the bank's 121-year history shows durability. it does not diversify the geography.
med
fee income is too small to rescue the thesis
non-interest income was $12M last year, up 1.2%. that helps, but it still accounts for only 12.5% of revenue.
if the spread business softens, the fee business is not large enough to hide it.
low
thin coverage and thinner liquidity
price target data is unavailable and institutional ownership data is still being compiled. that usually means less outside coverage, not hidden certainty.
in a $322M stock, one holder stepping in or out can move attention faster than fundamentals do.
you own a $322M bank where 87.5% of revenue comes from net interest income. if the spread holds, the story works. if it compresses, the rest of the business is too small to hide it.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
Q1 2026 earnings on April 16
this is the next clean read on whether the $96M revenue base is still building, and whether a 20.7x multiple still makes sense.
trend
net interest income versus fee income
$84M versus $12M is the gap that defines the stock. you want to see whether that mix starts broadening or stays this one-dimensional.
metric
valuation against earnings
at 20.7x earnings, ISBA already gets credit for stability. if earnings stall while the multiple stays full, that disconnect becomes the whole debate.
risk
whether the Nasdaq move changed anything
the May 8, 2025 listing switch only matters if liquidity improves, coverage improves, or the shareholder base widens. otherwise it was cosmetic.
Analyst rankings
earnings predictability
70 / 100
good enough for a bank, not clean enough to ignore. in human-speak, you should expect steadiness with the occasional wobble.
price stability
85 / 100
the stock has been calmer than the average small cap. that helps if you want a quieter chart. it does not prove the stock is cheap.
risk rank
2
a low numerical risk rank means safer than most stocks in this coverage set. it does not mean immune to deposit competition or margin pressure.
source: institutional data
Institutional activity
institutional ownership data for ISBA is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$53
current price
n/a
target midpoint · n/a from current
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