ChoiceOne Financial Services, Inc. reports developments for ChoiceOne Bank, a Michigan financial holding company and community bank operator serving West, Central and Southeast Michigan. Recurring updates cover quarterly results, deposit trends, commercial and consumer lending, mortgage warehouse advances, securities activity, credit quality, liquidity management, Federal Home Loan Bank borrowings and interest rate swaps.
Company news also includes cash dividends on common stock, board governance changes, community banking programs, affordable housing grants and integration activity following the completed Fentura Financial merger and consolidation of The State Bank into ChoiceOne Bank. ChoiceOne Bank also offers insurance and investment products through ChoiceOne Insurance Agencies, Inc.
ChoiceOne Financial Services (COFS) reported third-quarter 2026 net income of $14.5 million, slightly below the year-earlier quarter. Diluted earnings per share held at $0.97, while nine-month net income rose to $40.7 million from $14.3 million; 2025 results included the Fentura acquisition's impact.
GAAP net interest margin rose to 3.67% from 3.59% in the second quarter. Core loans grew $33.6 million during the quarter, and deposits excluding brokered deposits increased $95.7 million, primarily reflecting seasonal municipal deposits and tax receipts. Borrowings fell $60.0 million to $234.9 million.
Nonperforming loans reached 1.25% of loans excluding loans held for sale, up from 1.07% in June. Shareholders' equity fell to $469.8 million from $482.7 million, primarily reflecting a $22.3 million decline in accumulated other comprehensive income as higher long-term rates affected available-for-sale securities.
ChoiceOne Financial Services (COFS) announced the official opening of the ChoiceOne Bank Trail following a September 29 ribbon-cutting ceremony in Fenton. The ceremony took place at Silver Lake Road and Jennings Road. The trail is part of the Genesee County Legacy Trails network, an initiative designed to connect more than 200 miles of trails throughout Flint and Genesee County.
ChoiceOne Financial Services (COFS) announced that ChoiceOne Bank received the 2026 Habitat for Humanity of Kent County Opportunity Award, recognizing the bank as a long-term supporter of Habitat’s homeownership mission in Kent County.
Executive Vice President and Chief Lending Officer Bradley Henion accepted the award at Habitat’s Annual Habitat House Party. ChoiceOne highlights that the award reflects years of financial support and employee volunteerism, which the bank links to its focus on attainable housing, community stability and helping local families achieve homeownership. Leadership emphasized that this partnership aligns with ChoiceOne’s broader commitment to community development and the long-term well-being of the areas it serves.
ChoiceOne Financial Services (NASDAQ: COFS) reported second quarter 2026 net income of $12.5 million, or $0.83 per diluted share, and first-half 2026 net income of $26.2 million, or $1.74 per share. Second quarter results included a pre-tax $1.9 million securities loss that reduced EPS by about $0.10 as ChoiceOne sold lower-yielding municipal securities to fund loan growth and improve its interest rate profile.
Total assets reached $4.46 billion, up $146.6 million year over year, driven mainly by core loan, securities, and warehouse mortgage advance growth. Core loans rose $87.1 million in the quarter (11.9% annualized), including about $40 million of purchased adjustable-rate residential mortgages. GAAP net interest margin was 3.59%, slightly lower than both the prior quarter and prior-year quarter. Asset quality metrics remained strong, with annualized net charge-offs of 0.04% and nonperforming loans at 1.07% of total loans.
Deposits excluding brokered deposits declined $55.4 million sequentially, mainly from seasonal municipal outflows, while such deposits rose $22.2 million year over year. Shareholders’ equity increased to $482.7 million, ChoiceOne repurchased 35,000 shares for $1.1 million in the quarter, and the bank remained “well-capitalized” with a total risk-based capital ratio of 12.9%.
ChoiceOne Bank (NASDAQ: COFS) awarded 19 needs-based scholarships to graduating high school seniors across its Michigan service area through the Annual ChoiceOne Scholarship Program.
Each student receives a one-time $1,000 scholarship for fall 2026 studies at an accredited Michigan college or certificate program.
ChoiceOne Financial Services (NASDAQ:COFS) reported Q1 2026 net income of $13.704M and diluted EPS of $0.91. Total assets were $4.4B. Net interest margin rose to 3.63%. Core loans declined annualized 4.2% in Q1; deposits excluding brokered grew $68.9M (annualized 7.9% Q1). Asset quality remained stable with annualized net charge-offs of 0.01% and nonperforming loans at 1.01%. Shareholders' equity was $470.0M and the bank remains well-capitalized.
ChoiceOne (NASDAQ:COFS) reported Q4 2025 net income of $13.9M and full-year 2025 net income of $28.2M. Total assets rose to $4.4B, driven by the March 1, 2025 merger that added ~$1.8B assets, $1.4B loans and $1.4B deposits.
Diluted EPS was $0.92 for Q4 and $2.01 for 2025; EPS excluding merger items was $3.68 for the year. Asset quality remained strong with nonperforming loans at 0.98% and allowance for credit losses at 1.18%.
ChoiceOne Bank (NASDAQ: COFS) opened applications for its annual ChoiceOne Scholarship Program on January 27, 2026. The bank will award $1,000 scholarships to 19 students from communities it serves across West, Central and Southeast Michigan to support graduating high school seniors, GED recipients, and home‑schooled students who plan to attend an accredited Michigan college in fall 2026. Applications are accepted from January 5 to March 8, 2026. Candidates must submit transcripts/GED documentation and a 500‑word essay describing a community service experience. ChoiceOne will pay scholarships directly to the students' colleges; employee family members are eligible and one additional employee‑family recipient will be chosen.
ChoiceOne Financial Services (NASDAQ: COFS), in partnership with the Federal Home Loan Bank of Indianapolis, awarded Fresh Coast Alliance a $1 million Affordable Housing Program (AHP) grant on Jan. 22, 2026 to renovate four of five sober living homes. The work will improve safety and livability and initially increase housing capacity by 10%, creating additional beds for people in recovery or reentry. ChoiceOne will distribute the funds, make an additional donation, and provide financial education through its Community Development Team.
ChoiceOne Financial Services (NASDAQ:COFS) reported Q3 2025 results with net income of $14.7M for the quarter and $14.3M for the nine months ended Sept 30, 2025.
The March 1, 2025 merger with Fentura added approximately $1.8B in assets, $1.4B in loans and $1.4B in deposits; merger-related after-tax expenses were $13.9M YTD and merger PCL after-tax was $9.5M.
GAAP net interest margin rose to 3.73% in Q3 2025; total assets grew to $4.3B and shareholders' equity to $449.6M as of Sept 30, 2025.