Isabella Bank Corporation announced that Jae A. Evans will retire as President and Chief Executive Officer, effective January 2024. The Board of Directors has elected Jerome E. Schwind, currently President of Isabella Bank, as the new President and CEO of Isabella Bank Corporation and CEO of Isabella Bank, effective January 2024. The Board also named Neil M. McDonnell, currently Chief Financial Officer, to replace Schwind as the Bank President at that time.

Evans has been CEO since January 2014. He will continue to leverage his 47 years of banking experience as a member of both the corporate and bank Boards of Directors. During his tenure as CEO, Evans has led the corporation to record earnings and assets, an expanded geographic footprint and new, state-of-the-art online banking services.

Evans started as President of the Bank's Greenville Division and then served as Chief Operations Officer before becoming CEO. While retiring was not an easy decision, he said Schwind, McDonnell and the full Isabella Bank team will do well in furthering the Bank's 120-year history. Schwind 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 the Bank's 30 branches. Schwind also is Board Chair of the Michigan Bankers Association.

McDonnell has been CFO since joining Isabella Bank in 2018 and has led a number of initiatives that have driven the Bank's strategic plan and improved key metrics, including shareholder value. They include the company's stock buyback program, reducing high-cost borrowings, and raising capital without issuing additional shares. He also leads Isabella Wealth, the Bank's investment and trust management business, which has grown more than 15% since 2020.

McDonnell has more than 30 years of banking experience and previously held executive roles at large international banks, local community banks and de novo banks in the eastern U.S.