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Posted 28 April, 2023

ISABELLA BANK Corp appointed Jerome E. Schwind as new CEO

OTC:ISBA appointed new Chief Executive Officer Jerome E. Schwind in a 8-K filed on 28 April, 2023.


  Similarly, on April 26, 2023, the Board elected Jerome E. Schwind to President and Chief Executive Officer of the Corporation and Chief Executive Officer of Isabella Bank and appointed Neil M. McDonnell as President of Isabella Bank, both effective January 2024.  

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Overview of ISABELLA BANK Corp
Financial Services • Banking
Isabella Bank Corp. is a holding company, which engages in the provision of financial services through its subsidiary. It offers checking accounts, savings accounts, certificates of deposit, direct deposits, cash management services, mobile and internet banking, electronic bill pay services, and automated teller machines. It operates through the following segments: Commercial, Agricultural, Residential Real Estate, and Consumer. The company was founded in 1903 and is headquartered in Mount Pleasant, MI.
Market Cap
$147M
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ISABELLA BANK Corp by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) Retirement of Jae A. Evans as President and Chief Executive Officer of Isabella Bank Corporation

On April 26, 2023, Jae A. Evans announced his retirement as President and Chief Executive Officer of Isabella Bank Corporation (the "Corporation"), to the Corporation's Board of Directors (the "Board"). Mr. Evans also serves as Chief Executive Officer of Isabella Bank, a wholly owned subsidiarity of the Corporation. The Board accepted his notice of retirement which is effective January 2024. Mr. Evans plans to remain a member of the Board, as well as Isabella Bank's Board of Directors, after his retirement. Subsequently, on April 28, 2023, the Corporation issued a press release announcing the retirement of Mr. Evans.

(c) Election of Jerome E. Schwind as President and Chief Executive Officer of Isabella Bank Corporation and Appointment

of Neil M. McDonnell as President of Isabella Bank

Similarly, on April 26, 2023, the Board elected Jerome E. Schwind to President and Chief Executive Officer of the Corporation and Chief Executive Officer of Isabella Bank and appointed Neil M. McDonnell as President of Isabella Bank, both effective January 2024. Subsequently, on April 28, 2023, the Corporation issued a press release announcing the election of Mr. Schwind and appointment of Mr. McDonnell.

Mr. Schwind, age 56, has been President of Isabella Bank since 2015, previously serving as its Executive Vice President and Chief Operations Officer, and Mecosta Division President. He has played an instrumental role in technology advancements and geographic expansion, which are key elements of the bank's strategic plan. He also maintains a deep understanding of the seven counties served by Isabella Bank's 30 branches. Mr. Schwind is Chair of the Michigan Bankers Association and a member of its Perry School of Banking Board. He is Board Chair of the Middle Michigan Development Corporation, based in Mt. Pleasant, and is on the board of the Great Lakes Bay Regional Alliance, which supports collaboration and initiatives to improve economic vitality and quality of life across central Michigan.

Mr. McDonnell, age 59, has been CFO since joining Isabella Bank in 2018 and has led a number of initiatives that have driven Isabella Bank's strategic plan and improved key metrics, including shareholder value. He has more than 30 years of banking experience and previously worked in the eastern United States in roles such as CFO, controller, treasurer, compliance and risk officer, and director of finance at large international banks, local community banks and de novo banks. Mr. McDonnell is a member of the Mid-Michigan Industries Board of Directors and volunteers with the Habitat for Humanity of Isabella County Finance Committee.