Isabella Bank Corporation (ISBA) grants CFO new supplemental retirement plan benefits
Rhea-AI Filing Summary
Isabella Bank Corporation entered into a new Supplemental Executive Retirement Plan participation agreement with its Chief Financial Officer, Gerald J. Ritzert, effective August 11, 2026. The agreement provides for eight annual credits totaling $300,000 to his Plan account. It specifies an early retirement age of 55 and a normal retirement age of 65. The default payment form upon separation from service is replaced with five annual installments, aligning with similar prior agreements. The detailed Participation Agreement is included as Exhibit 10.1.
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8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Total Plan Credits: $300,000
Number of Annual Credits: 8
Installment Payments: 5 annual installments
+3 more
6 metrics
Total Plan Credits
$300,000
Eight annual credits to CFO Gerald J. Ritzert’s SERP account under the Participation Agreement
Number of Annual Credits
8
Annual credits to be made to Mr. Ritzert’s Supplemental Executive Retirement Plan account
Installment Payments
5 annual installments
Form of payment upon separation from service replacing the Plan’s default form
Early Retirement Age
55
Early retirement age for Mr. Ritzert under the Supplemental Executive Retirement Plan
Normal Retirement Age
65
Normal retirement age for Mr. Ritzert under the Supplemental Executive Retirement Plan
Effective Date
August 11, 2026
Date the Participation Agreement with Gerald J. Ritzert became effective
Key Terms
Supplemental Executive Retirement Plan, Participation Agreement, separation from service, inline XBRL
4 terms
Supplemental Executive Retirement Plan financial
"entered into a participation agreement under the Isabella Bank Corporation Supplemental Executive Retirement Plan"
Participation Agreement financial
"entered into a participation agreement under the Isabella Bank Corporation Supplemental Executive Retirement Plan"
separation from service financial
"form of payment upon Mr. Ritzert’s separation from service with the form of five (5) annual installments"
inline XBRL technical
"Cover page interactive data file - the cover page XBRL tags are embedded within the inline XBRL document"
Inline XBRL is a file format for financial filings that embeds machine-readable data tags directly inside the human-readable report, so the same document can be read by people and parsed by software. For investors it makes extracting, comparing and verifying financial numbers faster and more reliable—like a grocery list where each item also has a barcode—reducing manual errors and speeding up analysis.
FAQ
What executive retirement agreement did ISBA enter into on August 11, 2026?
Isabella Bank Corporation entered into a Supplemental Executive Retirement Plan participation agreement with CFO Gerald J. Ritzert, outlining deferred retirement benefits, retirement ages, and installment payments, with full terms in Exhibit 10.1.
How much will ISBA credit to CFO Gerald Ritzert’s retirement plan under the new agreement?
The company agreed to make eight annual credits totaling $300,000 to Gerald J. Ritzert’s Supplemental Executive Retirement Plan account, providing additional executive retirement benefits over a defined multi-year period.
What are the early and normal retirement ages for ISBA CFO Gerald Ritzert under the plan?
Under the Participation Agreement, Gerald J. Ritzert’s early retirement age is 55 and his normal retirement age is 65, consistent with similar previous Isabella Bank Corporation executive retirement arrangements.
How will benefits be paid to ISBA CFO Gerald Ritzert upon separation from service?
The agreement replaces the Plan’s default payment form with five annual installments upon Gerald J. Ritzert’s separation from service, aligning the payout structure with prior executive retirement agreements at Isabella Bank Corporation.
Where can investors find the full text of ISBA’s new executive retirement agreement?
The full text of the Participation Agreement for Gerald J. Ritzert is filed as Exhibit 10.1, with the cover page inline XBRL data referenced as Exhibit 104 in the same report.
AI-generated analysis. How Rhea-AI works. Not financial advice.
