{"url_path":"/sec/isba/8-k/2026-06-16/item-1-01","section_key":"item-1-01","section_title":"Item 1.01 Entry Into a Material Definitive Agreement.","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-06-16","source_url":"https://www.sec.gov/Archives/edgar/data/842517/0000842517-26-000163-index.html","accession_number":"0000842517-26-000163","cik":"0000842517","ticker":"ISBA","issuer_name":"ISABELLA BANK CORP","edgar_url":"https://www.sec.gov/Archives/edgar/data/842517/0000842517-26-000163-index.html","primary_entity_key":"0000842517","primary_entity_name":"ISABELLA BANK CORP"},"word_count":800,"has_tables":true,"body_markdown":"Item 1.01    Entry Into a Material Definitive Agreement.\n\nOn June 16, 2026, Isabella Bank Corporation, a Michigan corporation (the “Company”), and its wholly-owned subsidiary, Isabella Bank, a Michigan state-chartered bank (the “Bank”), entered into an Equity Distribution Agreement (the “Agreement”) with Piper Sandler & Co., as sales agent (the “Agent”), pursuant to which the Company may issue and sell from time to time through the Agent, shares of the Company's common stock, no par value per share (the “Common Stock”), having an aggregate gross sales price of up to $30,000,000 (the “Offering”). Sales of Common Stock, if any, under the Agreement may be made in transactions that are deemed to be “at the market offerings” as defined in Rule 415 under the Securities Act of 1933, as amended (the “Securities Act”). In addition, if specified by the Company in a Placement Notice (as defined in the Agreement) and subject to the terms of the Agreement, the Agent may also sell the Common Stock by any other method permitted by law, including privately negotiated transactions or block trades.\n\nUnder the Agreement, the Company will set the parameters for the sale of the Common Stock from time to time, including the number of shares to be issued, the time period during which sales are requested to be made, limitations on the number of shares that may be sold by the Agent in any one trading day and any minimum price below which sales may not be made. The Company has agreed to pay the Agent a commission of up to 3.0% of the gross sales price of the Common Stock sold in the Offering. The Agent has agreed to use commercially reasonable efforts consistent with its respective normal trading and sales practices to sell the Common Stock in the Offering, subject to the terms of the Agreement.\n\nThe Agreement contains customary representations, warranties and covenants of the Company and the Bank, and conditions to the Agent’s obligations to sell the Common Stock in the Offering. The representations, warranties and covenants set forth in the Agreement were made only for purposes of the Agreement, and only as of the specified dates provided therein. The representations, warranties and covenants in the Agreement were made solely for the benefit of the parties thereto, may be subject to limitations agreed upon by the parties, including being qualified by confidential disclosures made for the purposes of allocating contractual risk between the parties rather than establishing these matters as facts, and may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors. The Company and the Bank have agreed, jointly and severally, to provide to the Agent customary indemnification and contribution rights. The Company will also reimburse the Agent for certain specified expenses in connection with establishing and maintaining the Offering.\n\nThe Company has no obligation to sell any Common Stock under the Agreement, and the Company or the Agent may, at any time, suspend solicitation and sales in the Offering. The Agreement may be terminated by either the Company or the Agent upon prior written notice to the other party, subject to the terms and conditions of the Agreement.\n\nAny Common Stock offered and sold in the Offering will be issued pursuant to the Company’s shelf registration statement on Form S-3 (Registration No. 333-295098) filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 16, 2026 and declared effective on April 23, 2026, and the related prospectus supplement relating to the Offering filed with the SEC on June 16, 2026 and any applicable additional prospectus supplements related to the Offering that may be filed with the SEC in connection with the Offering.\n\nThe Company plans to use the net proceeds from the Offering, after deducting the Agent’s commissions and expense reimbursements and the Company’s offering expenses, for general corporate purposes, which may include, without limitation, contribution to the capital of the Bank to support its lending activities and growth.\n\nThe foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is incorporated by reference herein as Exhibit 1.1 to this Current Report on Form 8-K.\n\nThe legal opinion of Foster Swift Collins & Smith PC relating to the Common Stock is filed herewith as Exhibit 5.1.\n\nThis Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of any offer to buy the Common Stock discussed herein, nor shall there be any offer, solicitation or sale of the Common Stock in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction."}