0000842517-15-000142.txt : 20151102 0000842517-15-000142.hdr.sgml : 20151102 20151102164205 ACCESSION NUMBER: 0000842517-15-000142 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20151028 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20151102 DATE AS OF CHANGE: 20151102 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ISABELLA BANK CORP CENTRAL INDEX KEY: 0000842517 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 382830092 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-18415 FILM NUMBER: 151191130 BUSINESS ADDRESS: STREET 1: 200 EAST BROADWAY CITY: MT PLEASANT STATE: MI ZIP: 48858 BUSINESS PHONE: 5177729471 MAIL ADDRESS: STREET 1: 200 EAST BROADWAY CITY: MT PLEASANT STATE: MI ZIP: 48858 FORMER COMPANY: FORMER CONFORMED NAME: IBT BANCORP INC /MI/ DATE OF NAME CHANGE: 19920703 8-K 1 isba_8kx2015xpungretiremen.htm 8-K 8-K


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
 FORM 8-K
 
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 28, 2015
  
 
ISABELLA BANK CORPORATION
(Exact name of registrant as specified in its charter)
 
 
MICHIGAN
(State or other jurisdiction of incorporation)
 
000-18415
 
38-2830092
(Commission
File Number)
 
(IRS Employer
Identification No.)
 
401 North Main Street, Mt. Pleasant, Michigan
 
48858-1649
(Address of principal executive offices)
 
(Zip Code)
Registrant’s telephone number, including area code: (989) 772-9471
Not Applicable
(Former name or former address if changed since last report)
 
 

 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule l4a-12 under the Exchange Act (17 CFR 240.l4a-l2)
¨
Pre-commencement communications pursuant to Rule l4d-2(b) under the Exchange Act (17 CFR 240.l4d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.l3e-4(c))





Section 5 - Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) On October 28, 2015, Steven D. Pung announced his retirement as President of Isabella Bank, a wholly owned subsidiarity of Isabella Bank Corporation (the "Corporation"), to the Corporation's Board of Directors (the "Board"). The Board accepted his notice of retirement which is effective December 30, 2015. Subsequently, on November 2, 2015, the Corporation issued a press release announcing the retirement of Mr. Pung.
(c) Similarly, on October 28, 2015, the Board appointed Jerome E. Schwind to President and Chief Operations Officer of Isabella Bank, effective December 31, 2015. Mr. Schwind currently serves as an Executive Vice President and the Chief Operations Officer of Isabella Bank. Subsequently, on November 2, 2015, the Corporation issued a press release announcing the appointment of Mr. Schwind.
Mr. Schwind, age 49, joined Isabella Bank in 1999. He has served in various roles at Isabella Bank including Executive Vice President and Chief Operations Officer, Chief Integration Officer, and Mecosta Division President. Mr. Schwind received his undergraduate degree from Ferris State University and his MBA from Lake Superior State University. He is also a graduate of the Dale Carnegie Executive Development program, the Graduate School of Banking at the University of Wisconsin-Madison, and the Rollie Denison Leadership Institute. Mr. Schwind is a strong community advocate. He currently serves as the treasurer for the Middle Michigan Development Corporation and is a member of the Finance Advisory Board for the Ferris State University College of Business. Mr. Schwind is past chair of the Mecosta County Development Corporation, past vice-chair of the Mecosta County Medical Center, and a former member of the Friends of Ferris Board.
A copy of the press releases are filed as Exhibit 99.1 and Exhibit 99.2 to this Form 8-K and is incorporated herein by reference.
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
(d) Exhibit:
Exhibit
No.
  
Description
 
 
 
99.1
  
Press release issued November 2, 2015
99.2
 
Press release issued November 2, 2015

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
 
ISABELLA BANK CORPORATION
 
 
 
 
 
 
Dated:
November 2, 2015
 
By:
 
/s/ Dennis P. Angner
 
 
 
 
 
Dennis P. Angner, President & CFO



 EX-99.1 2 isba_2015xpungretirementxe.htm EXHIBIT 99.1 Exhibit


Exhibit 99.1

Isabella Bank President Steven Pung Announces Retirement

Mt. Pleasant, Michigan, November 2, 2015 -Jae A. Evans, Chief Executive Officer of Isabella Bank Corporation (OTCQX: ISBA), announced today that Steven D. Pung will retire as President of Isabella Bank, effective December 30, 2015. The Board of Directors has appointed Jerome E. Schwind, currently the Bank’s Executive Vice President and Chief Operations Officer, to serve as President and Chief Operations Officer of Isabella Bank effective December 31, 2015.
“Steve is a well-respected leader at Isabella Bank and within our communities. He has led by example and has been instrumental in cultivating talent within our organization. His commitment to community banking, passion for the Isabella Bank culture, and enthusiasm for innovation have been instrumental in our growth and enhancing our brand. We are thankful for his 36 years of service to Isabella Bank,” commented Chief Executive Officer Jae Evans.
Steve has been a member of the Isabella Bank family since 1979. He began his career as the Director of Personnel and went on to serve in several leadership roles including Senior Vice President of Operations, Chief Operations Officer, and Executive Vice President. In 2012, he became President of Isabella Bank. He earned his bachelor’s degree from Central Michigan University and graduated from the Robert Perry School of Banking at CMU, the Graduate School of Banking at the University of Wisconsin, Madison, and the Dale Carnegie Leadership Program.
In addition to his leadership at the Bank, Steve is also a devoted volunteer in the community. He currently serves as president for the Mt. Pleasant Area Community Foundation (MPACF), chair of the Art Reach Board of Trustees, a director for the McLaren-Central Michigan Hospital Board, a member of the Mt. Pleasant First United Methodist Church Board of Trustees, and a director for the Chippewa Watershed Conservancy. Throughout his career, he also served many other organizations including the United Way of Isabella County, Mt. Pleasant Public Schools Board of Education, Mt. Pleasant Chamber of Commerce, and the Downtown Development Board. He and his wife, Sue, live in Mt. Pleasant.
For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com. Isabella Bank Corporation common stock is quoted on the OTCQX tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.” The Corporation's market maker is Boenning & Scattergood, Inc. (www.boenninginc.com).
Forward-Looking Statements
This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in the sections entitled "Risk Factors" and "Forward Looking Statements" set forth in Isabella Bank Corporation's filings with the Securities and Exchange Commission, which are available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.



 EX-99.2 3 isba_2015xschwindappointme.htm EXHIBIT 99.2 Exhibit


Exhibit 99.2

Schwind To Succeed Pung as President of Isabella Bank

Mt. Pleasant, Michigan, November 2, 2015 -Jae A. Evans, Chief Executive Officer of Isabella Bank Corporation (OTCQX: ISBA), announced today the appointment of Jerome E. Schwind to President and Chief Operations Officer of Isabella Bank effective December 31, 2015, following the retirement of Steven D. Pung which is effective December 30, 2015.
“Over the past 16 years, Jerome has led many strategic initiatives at the Bank. He is a proven leader and embraces our core values and community bank heritage. His vast experience in strategic planning will continue to be a tremendous asset to our Bank,” commented Chief Executive Officer Jae Evans.
Schwind has been a member of the Isabella Bank family since 1999. He has served in various roles at the Bank including Executive Vice President and Chief Operations Officer, Chief Integration Officer, and Mecosta Division President. Schwind received his undergraduate degree from Ferris State University and his MBA from Lake Superior State University. He is also a graduate of the Dale Carnegie Executive Development program, the Graduate School of Banking at the University of Wisconsin-Madison, and the Rollie Denison Leadership Institute.
In addition to his professional accomplishments, Jerome is also a strong community advocate. He currently serves as the treasurer for the Middle Michigan Development Corporation and is a member of the Finance Advisory Board for the Ferris State University College of Business. Schwind is past chair of the Mecosta County Development Corporation and past vice-chair of the Mecosta County Medical Center. He is also a former member of the Friends of Ferris Board. Jerome and his wife, Deb, live in Mt. Pleasant.
For more information about Isabella Bank Corporation, visit the Investors link at www.isabellabank.com. Isabella Bank Corporation common stock is quoted on the OTCQX tier of the OTC Markets Group, Inc.’s electronic quotation system (www.otcmarkets.com) under the symbol “ISBA.” The Corporation's market maker is Boenning & Scattergood, Inc. (www.boenninginc.com).
Forward-Looking Statements
This press release includes forward-looking statements. To the extent that the foregoing information refers to matters that may occur in the future, please be aware that such forward-looking statements may differ materially from actual results. Additional information concerning some of the factors that could cause materially different results is included in the sections entitled "Risk Factors" and "Forward Looking Statements" set forth in Isabella Bank Corporation's filings with the Securities and Exchange Commission, which are available from the Securities and Exchange Commission's Public Reference facilities and from its website at www.sec.gov.