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Section 1: S-8 (S-8)

Document
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM S-8
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
 
ISABELLA BANK CORPORATION
(Exact name of Registrant as specified in its charter)
Michigan
 
38-2830092
(State or other jurisdiction of
incorporation or organization)
 
(I.R.S. Employer
Identification No.)
 
401 N. Main St.
Mt. Pleasant, MI 48858-1649
(Address of Principal Executive Offices)
 
ISABELLA BANK CORPORATION
STOCKHOLDER DIVIDEND REINVESTMENT AND
EMPLOYEE STOCK PURCHASE PLAN
(Full title of the plan)
 
Jae A. Evans
401 N. Main St.
Mt. Pleasant, MI 48858
(989) 772-9471
(Name, address and telephone number, including area code, of agent for service)
 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
 
¨
 
Accelerated filer
 
x
 
 
 
 
 
Non-accelerated filer
 
¨
 
Smaller reporting company
 
¨
 
 
 
 
 
 
 
 
 
 
 
Emerging growth company
 
¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ¨
 
CALCULATION OF REGISTRATION FEE
 
Title of Securities to be Registered
 
Amount to be
Registered
 
Proposed Maximum
Offering Price Per Share
 
Proposed Maximum
Aggregate Offering Price
 
Amount of
Registration Fee
Common Shares, no par value
 
40,000

(1) 
 
$
25.95

(2) 
 
$
1,038,000

(2) 
 
$
125.81

(2) 
(1) Pursuant to Rule 416 under the Securities Act of 1933, as amended (the “Securities Act”) this registration statement also covers such indeterminate number of additional shares as may be required to be issued under the Plan in the event of an adjustment as a result of an increase in the number of issued shares of Common Stock resulting from a subdivision of such shares, the payment of stock dividends or certain other capital adjustments.
(2) Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(c) and Rule 457(h)(1) of the Securities Act on the basis of the average price of the Common Stock on December 19, 2018.



EXPLANATORY NOTE
This Registration Statement on Form S-8 is being filed by Isabella Bank Corporation (the “Registrant”) for the purpose of registering an additional 40,000 shares of the Registrant’s common stock to be issued pursuant to the Isabella Bank Corporation Stockholder Dividend Reinvestment and Employee Stock Purchase Plan, as most recently amended and restated on January 24, 2017 (the “Plan”).
Pursuant to General Instruction E of Form S-8, this Registration Statement on Form S-8 incorporates by reference the contents of the Registration Statements on Form S-8, previously filed with the Commission relating to the Plan (File No. 33-34777, File No. 33-61596, File No. 333-53377, File No. 333-106414, File No. 333-151353 and File No. 333-181799).



PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 8. Exhibits.
See Exhibit Index.

Part II - 1



SIGNATURES
The Registrant. Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Mt. Pleasant, State of Michigan, on December 19, 2018.
 
ISABELLA BANK CORPORATION
 
 
 
 
By:
/s/ Jae A. Evans
 
 
Jae A. Evans, President and Chief Executive Officer




Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.
/s/ Dr. Jeffrey J. Barnes
 
December 19, 2018
Dr. Jeffrey J. Barnes, Director
 
 
 
 
 
/s/ Richard J. Barz
 
December 19, 2018
Richard J. Barz, Director
 
 
 
 
 
/s/ Jill Bourland
 
December 19, 2018
Jill Bourland, Director
 
 
 
 
 
/s/ Jae A. Evans
 
December 19, 2018
Jae A. Evans, President, Chief Executive Officer, and Director (Principal Executive Officer)
 
 
 
 
 
/s/ G. Charles Hubscher
 
December 19, 2018
G. Charles Hubscher, Director
 
 
 
 
 
/s/ Thomas L. Kleinhardt
 
December 19, 2018
Thomas L. Kleinhardt, Director
 
 
 
 
 
/s/ Joseph LaFramboise
 
December 19, 2018
Joseph LaFramboise, Director
 
 
 
 
 
/s/ David J. Maness
 
December 19, 2018
David J. Maness, Director
 
 
 
 
 
/s/ W. Joseph Manifold
 
December 19, 2018
W. Joseph Manifold, Director
 
 
 
 
 
/s/ Neil M. McDonnell
 
December 19, 2018
Neil M. McDonnell, Chief Financial Officer (Principal Financial Officer)
 
 
 
 
 
/s/ W. Michael McGuire
 
December 19, 2018
W. Michael McGuire, Director
 
 
 
 
 
/s/ Sarah R. Opperman
 
December 19, 2018
Sarah R. Opperman, Director
 
 
 
 
 
/s/ Jerome E. Schwind
 
December 19, 2018
Jerome E. Schwind, President of Isabella Bank and Director
 
 
 
 
 
/s/ Rhonda S. Tudor
 
December 19, 2018
Rhonda S. Tudor, Controller (Principal Accounting Officer)
 
 
 
 
 
/s/ Gregory V. Varner
 
December 19, 2018
Gregory V. Varner, Director
 
 



EXHIBIT INDEX
Exhibit Number
 
Description
5
 
23.1
 
23.2
 

Part II - 4
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Section 2: EX-5 (EXHIBIT 5)

Exhibit


EXHIBIT 5
Opinion of Counsel
 
396188260_fosterswiftlogoa02.jpg
Lansing
313 S. Washington Square
Lansing MI 48933

Detroit
333 W. Fort Street - Suite 1400
Detroit MI 48226
 
Southfield
28411 Northwestern Highway, Suite 500
Southfield MI 48034

Holland
151 Central Avenue - Suite 260
Holland MI 49423
 
Grand Rapids
1700 E. Beltline NE - Suite 200
Grand Rapids MI 49525

St. Joseph
728 Pleasant Street - Suite 204
St. Joseph MI 49085
Walter S. Foster
  1878-1961
Richard B. Foster
  1908-1996
Theodore W. Swift
  1928-2000
John L. Collins
  1926-2001

Webb A. Smith
Allan J. Claypool
Gary J. McRay
Stephen I. Jurmu
Scott A. Storey
Charles A. Janssen
Charles E. Barbieri
James B. Jensen, Jr.
Scott L. Mandel Michael D. Sanders
Brent A. Titus
 
Stephen J. Lowney
Jean G. Schtokal
Brian G. Goodenough
Matt G. Hrebec
Nancy L. Kahn
Deanna Swisher
Thomas R. Meagher
Douglas A. Mielock
Scott A. Chernich
Paul J. Millenbach
Dirk H. Beckwith
Brian J. Renaud
Bruce A. Vande Vusse
Lynwood P. VandenBosch
Lawrence Korolewicz
James B. Doezema
Anne M. Seurynck
Richard L. Hillman
Steven L. Owen
John P. Nicolucci
 
Michael D. Homier
David M. Lick
Scott H. Hogan
Richard C. Kraus
Benjamin J. Price
Frank T. Mamat
Michael R. Blum
Jonathan J. David
Pamela C. Dausman
Andrew C. Vredenburg
John M. Kamins
Jack A. Siebers
Julie I. Fershtman
Todd W. Hoppe
Jennifer B. Van Regenmorter
Thomas R. TerMaat
Frederick D. Dilley
David R. Russell
Zachary W. Behler
Joshua K. Richardson
 
Joel C. Farrar
Laura J. Genovich
Liza C. Moore
Karl W. Butterer, Jr.
Lisa J. Hamameh
Mindi M. Johnson
Ray H. Littleton, II
Jack L. VanCoevering
Barbra E. Homier
Anna K. Gibson
Patricia J. Scott
Nicholas M. Oertel
Alicia W. Birach
Adam A. Fadly
Michael J. Liddane
Glen A. Schmiege
Gilbert M. Frimet
Mark J. Colon
Paul D. Yared
Ryan E. Lamb
 
Stephen W. Smith
Clifford L. Hammond
Brett R. Schlender
Drew L. Block
Mathew S. Fedor
Nicolas Camargo
Trevor J. Weston
Liam K. Healy
Andrea Badalucco
Mark T. Koerner
Warren H. Krueger, III
Sarah J. Gabis
John W. Mashni
Allison M. Collins
Leslie A. Dickinson
Julie L. Hamlet
Michael C. Zahrt
Taylor A. Gast
Rachel G. Olney
Tyler J. Olney
 
Mark J. DeLuca
Stefania Gismondi
Thomas K. Dillon
Robert A. Easterly
David S. Nows
Robert A. Hamor
Michael A. Cassar
Hilary J. McDaniel
Toufic R. Saati
 Emily R. Wisniewski
Cody D. Black
Amanda J. Dernovshek
Lydia M. Hymel
Brandon M. Schumacher
Alexander J. Thibodeau
Phone:
517.371.8100
Fax:
517.371.8200
Reply To:
Lansing
 
 
December 19, 2018
Isabella Bank Corporation
401 North Main Street
Mt. Pleasant, MI 48858
Ladies and Gentlemen:
RE:
Registration Statement on Form S-8
In connection with the proposed registration of 40,000 shares of common stock of Isabella Bank Corporation (the "Company") covered by the above-captioned Registration Statement, we have examined the Company's Articles of Incorporation, Bylaws, Corporate Minute Book and the Registration Statement to be filed with the Securities and Exchange Commission pursuant to the Securities Act of 1933, as amended.
Based upon such examination and upon examination of such other instruments and records as we deem necessary, we are of the opinion that:
1.    The Company has been duly incorporated under the laws of the state of Michigan, and is validly existing and in good standing under the laws of that state.

2.    The 40,000 shares of common stock covered by this Registration Statement have been legally authorized and when such shares have been duly delivered to employees against payment therefore as contemplated by the Isabella Bank Corporation Stockholder Dividend Reinvestment and Employee Stock Purchase Plan, such shares will be legally issued, fully paid and nonassessable.
This opinion is furnished for use as an exhibit to the Registration Statement. We hereby consent to the filing of this opinion as an exhibit.
Very truly yours,

FOSTER SWIFT COLLINS & SMITH PC

/s/ Foster, Swift, Collins & Smith, P.C.

396188260_fosterswiftwebsitea03.jpg

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Section 3: EX-23.1 (EXHIBIT 23.1)

Exhibit


EXHIBIT 23.1
Consent of Rehmann Robson LLC
 
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of Isabella Bank Corporation pertaining to the Isabella Bank Corporation Stockholder Dividend Reinvestment and Employee Stock Purchase Plan of our integrated audit report dated March 15, 2018, relating to the consolidated financial statements and the effectiveness of internal control over financial reporting of Isabella Bank Corporation, included in its Annual Report on Form 10-K for the year ended December 31, 2017.
/s/ Rehmann Robson LLC
Saginaw, Michigan
December 19, 2018



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