ChoiceOne Bank Awards Fresh Coast Alliance with $1 Million Grant In Partnership with the Federal Home Loan Bank of Indianapolis

Rhea-AI Summary

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.

News Market Reaction – COFS

+0.65%

1 alert

+0.65% News Effect

On the day this news was published, COFS gained 0.65%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

AHP grant amount: $1,000,000 Sober living homes: 5 homes Homes renovated: 4 homes +1 more

4 metrics

AHP grant amount $1,000,000 Affordable Housing Program grant to Fresh Coast Alliance

Sober living homes 5 homes Fresh Coast Alliance sober living housing portfolio

Homes renovated 4 homes Number of sober living homes funded for renovation

Capacity increase 10% Initial increase in housing capacity from renovations

Market Reality Check

Price: $29.72 Vol: Volume 67,571 is about 15...

normal vol

$29.72 Last Close

Volume Volume 67,571 is about 15% below the 20-day average of 79,338, suggesting modest interest ahead of this news. normal

Technical Shares at $29.34 are trading just above the 200-day MA of $29.25 and about 17% below the $35.40 52-week high.

Peers on Argus

COFS gained 4.38% with several regional bank peers also positive (e.g., ACNB +4....

COFS gained 4.38% with several regional bank peers also positive (e.g., ACNB +4.38%, FBIZ +4.23%, AROW and NFBK +3.79%), but no peers appeared on the momentum scanner, pointing to stock-specific rather than confirmed sector momentum.

Common Catalyst One peer, ACNB, reported earnings today, but no shared partnership or community-development theme is evident across peers.

Historical Context

2 past events · Latest: Oct 24 (Positive)

Pattern 2 events

Date	Event	Sentiment	Move	Catalyst
Oct 24	Q3 2025 earnings	Positive	+11.5%	Stronger Q3 2025 earnings and larger balance sheet post Fentura merger.
Jul 25	Q2 2025 earnings	Positive	+4.6%	Q2 2025 earnings growth and margin expansion after Fentura integration.

Pattern Detected

Limited history shows that positive earnings news has coincided with positive price reactions, suggesting the stock has recently responded constructively to favorable updates.

Recent Company History

Over the last few quarters, ChoiceOne has highlighted post‑merger growth and stronger profitability. Q2 and Q3 2025 earnings both showed higher net income and expanded net interest margin following the Fentura merger, with assets reaching about $4.3B. Those earnings releases saw positive 24‑hour reactions of 4.58% and 11.52%. Today’s partnership and community grant news fits within a broader narrative of balance‑sheet growth paired with local‑market engagement.

Market Pulse Summary

This announcement centers on a $1,000,000 Affordable Housing Program grant that supports renovations...

Analysis

This announcement centers on a $1,000,000 Affordable Housing Program grant that supports renovations to four of five sober living homes and expands capacity by 10%. It underscores ChoiceOne’s community-bank positioning rather than altering its financial outlook. In context, the bank recently reported stronger 2025 earnings and directors purchased about 10,000 shares near $28.50. Investors may watch future earnings, credit trends, and additional community or growth initiatives for further signals.

Key Terms

affordable housing program, ahp grant, sober living homes

3 terms

affordable housing program regulatory

"a $1 million Affordable Housing Program (AHP) grant"

An affordable housing program is a government or nonprofit plan that helps ensure housing costs are kept low for people with limited income, often through subsidies, tax credits, or price controls. For investors, these programs change demand, supply, and risk for real estate projects—think of them as rules or incentives that can make a building more likely to find steady renters but may also limit how much rent or resale profit can grow.

ahp grant regulatory

"a $1 million Affordable Housing Program (AHP) grant"

AHP grant is a subsidy from the Affordable Housing Program, run by the Federal Home Loan Banks, that provides cash awards to help build, buy or renovate low- and moderate-income housing. Think of it as a targeted government-backed boost that lowers upfront costs for housing projects; investors watch these grants because they change project economics, reduce financing risk, and can speed completion or increase demand in local real estate markets.

sober living homes medical

"renovations to four of Fresh Coast Alliance's five sober living homes"

Sober living homes are residential houses where people recovering from substance use live together in a drug- and alcohol-free environment with peer support and household rules, but without regular on-site medical treatment. For investors, they matter because they are part of the supportive-housing and addiction-recovery market — occupancy levels, local regulation, referral pipelines and property costs shape revenue and risk, much like communal apartments that sell stability and routine to residents.

AI-generated analysis. Not financial advice.

SPARTA, Mich., Jan. 22, 2026 /PRNewswire/ -- ChoiceOne Financial Services, Inc., and ChoiceOne Bank (NASDAQ: COFS) ("ChoiceOne"), in partnership with the Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis), are pleased to award Fresh Coast Alliance with a $1 million Affordable Housing Program (AHP) grant.

"We are deeply grateful for the opportunity to partner with the Federal Home Loan Bank of Indianapolis to award Fresh Coast Alliance a $1 million Affordable Housing Program grant," said ChoiceOne Chief Executive Officer Kelly Potes. "As the local community bank, our purpose is rooted in helping our communities thrive. That means supporting housing stability and standing alongside organizations like Fresh Coast Alliance, whose commitment to providing safe, affordable, and supportive housing offers hope and a fresh start to those in recovery."

The $1 million AHP grant will fund renovations to four of Fresh Coast Alliance's five sober living homes, allowing the organization to improve safety and livability while initially increasing housing capacity by 10 percent. This expansion will create additional beds for men and women rebuilding their lives after incarceration or addiction.

"We're honored to partner with ChoiceOne Bank as our sponsor bank for the Affordable Housing Program grant," said Fresh Coast Alliance Executive Director Joy Sparks. "Their support goes far beyond funding—it reflects a shared commitment to dignity, stability, and long-term success for men and women on their reentry and recovery journeys. This kind of partnership sends a powerful message: our community believes in second chances."

The Affordable Housing Program supports projects that address critical housing needs for low- and moderate-income individuals and families. Fresh Coast Alliance's award reflects the growing recognition of recovery housing as an essential component of community stability and public health.

"At ChoiceOne, we believe that access to affordable housing is fundamental to building strong, thriving communities," said ChoiceOne Vice President, Commercial Loan Officer Patricia Brown. "Through our membership with the Federal Home Loan Bank of Indianapolis, we were able to secure the Affordable Housing Program grant working with Fresh Coast Alliance. ChoiceOne will distribute the funds for the final project. We will also donate to Fresh Coast Alliance, and our Community Development Team will begin teaching financial education classes. This collaboration reflects our commitment to investing in people, strengthening neighborhoods, and taking meaningful steps toward healthier communities."

About the FHLBank Indianapolis
FHLBank Indianapolis is a regional bank in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to provide access to low-cost funding for their member financial institutions, with particular attention paid to providing solutions that support the housing and small business needs of members' customers. FHLBanks are privately capitalized and funded, and they receive no Congressional appropriations. One of 11 independent regional cooperative banks across the U.S., FHLBank Indianapolis is owned by its Indiana and Michigan financial institution members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. For more information about FHLBank Indianapolis, visit www.fhlbi.com and follow the Bank on LinkedIn, Instagram, and X at @FHLBankIndy. Please note that content the Bank shares on its website and social media is not incorporated by reference into any of its filings with the SEC unless, and only to the extent that a filing by the Bank with the SEC expressly provides to the contrary.

About Fresh Coast Alliance
Fresh Coast Alliance (FCA) partners with over 30 agencies, 18 employers, and 14 churches. We provide holistic programming, experienced coaching, and accredited safe and sober housing*. FCA also owns and operates ACAC (Alcohol and Chemical Abuse Consultants) which provides licensed, professional therapy for mental health and Substance Use Disorder (SUD). ACAC is one of the few providers in the county that accepts Medicaid to treat SUD. FCA and ACAC will continue to expand quality evidence-based substance abuse treatment to those with little to no access. For more information about Fresh Coast Alliance and its housing programs, visit www.freshcoastalliance.org. *Michigan Association of Recovery Residences

About ChoiceOne
ChoiceOne Financial Services, Inc. is a financial holding company headquartered in Sparta, Michigan, with assets over $4.3 billion, and the parent corporation of ChoiceOne Bank. Member FDIC. ChoiceOne Bank operates 54 offices in West, Central and Southeast Michigan. ChoiceOne Bank offers insurance and investment products through its subsidiary, ChoiceOne Insurance Agencies, Inc. ChoiceOne Financial Services, Inc. common stock is quoted on the Nasdaq Capital Market under the symbol "COFS." For more information, please visit Investor Relations at ChoiceOne's website choiceone.bank.

View original content to download multimedia:https://www.prnewswire.com/news-releases/choiceone-bank-awards-fresh-coast-alliance-with-1-million-grant-in-partnership-with-the-federal-home-loan-bank-of-indianapolis-302668207.html

SOURCE ChoiceOne Bank

FAQ

What did ChoiceOne (COFS) announce on January 22, 2026 about Fresh Coast Alliance?

ChoiceOne announced a partnership with FHLBank Indianapolis to award Fresh Coast Alliance a $1 million AHP grant for renovations to four sober living homes.

How will the $1 million AHP grant from COFS and FHLBank Indianapolis be used?

The grant will fund renovations to four of Fresh Coast Alliance's five sober living homes to improve safety, livability, and initially increase capacity by 10%.

Which organizations partnered on the Affordable Housing Program grant to Fresh Coast Alliance?

ChoiceOne Financial Services (NASDAQ: COFS) partnered with the Federal Home Loan Bank of Indianapolis to sponsor the AHP grant.

What additional support will ChoiceOne provide to Fresh Coast Alliance beyond the $1M grant?

ChoiceOne will distribute the AHP funds, make a separate donation, and have its Community Development Team provide financial education classes.

What population will benefit from the renovations funded by the COFS-supported grant?

Renovations target sober living homes serving men and women rebuilding their lives after incarceration or addiction, increasing available beds.