ChoiceOne Bank Receives MCDC 2023 Lender of the Year Award

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ChoiceOne Financial Services, Inc. and ChoiceOne Bank (NASDAQ: COFS) have been awarded the 2023 Lender of the Year Award by the Michigan Certified Development (MCDC). Additionally, Brad Bissett, Vice President and Commercial Loan Officer, received the 2023 Individual Lender of the Year award.

ChoiceOne's SBA department, led by Aaron Griffin, was recognized for its excellence in the SBA 504 Loan Program, demonstrating innovation and client service. The bank was acknowledged for completing the most SBA 504 loans with MCDC in 2023, totaling four loans. Earlier in the year, ChoiceOne was also honored as the SBA Michigan District 504 Third Party Lender of the Year, having made seven SBA 504 Loans totaling nearly $7 million.

Positive

• Received MCDC 2023 Lender of the Year Award
• Brad Bissett awarded MCDC 2023 Individual Lender of the Year
• Completed the most SBA 504 loans with MCDC in 2023 (four loans)
• Awarded SBA Michigan District 504 Third Party Lender of the Year
• Made seven SBA 504 Loans totaling nearly $7 million

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• None.

Bradley Bissett Personally Recognized as MCDC 2023 Individual Lender of the Year

SPARTA, Mich., Sept. 19, 2024 /PRNewswire/ -- ChoiceOne Financial Services, Inc., and ChoiceOne Bank (NASDAQ: COFS) ("ChoiceOne") are honored to receive the 2023 Lender of the Year Award from the Michigan Certified Development Corporation (MCDC). ChoiceOne Vice President, SBA Lending Officer Aaron Griffin accepted the award on behalf of the Bank. MCDC also presented Vice President, Commercial Loan Officer Brad Bissett a 2023 Individual Lender of the Year award.

"We are honored to receive the MCDC 2023 Lender of the Year Award. Aaron's dedication, resilience and work ethic has helped differentiate our SBA program from other Michigan based lenders," said ChoiceOne Executive Vice President, Chief Lending Officer Bradley Henion. "We are equally excited to honor Brad as a MCDC 2023 Individual Lender of the Year. As the local community bank, ChoiceOne has a longstanding commitment to building personal relationships with the entrepreneurs and small business owners in our communities. Promoting business expansion and strong economic growth in Michigan are at the forefront of our business partnerships including our relationship with MCDC."

Unlike conventional term loans, an SBA 504 Loan is a government-backed term loan. An SBA Loan offers business owners the opportunity to take advantage of favorable terms as part of the SBA program, while removing some of the barriers to traditional financing options. The SBA 504 primarily assists healthy, expanding businesses that have been in operation for more than two years. In certain instances, the SBA 504 may be used to finance start-up businesses.

"ChoiceOne Bank's SBA department, led by Aaron Griffin and with significant contributions from Brad Bissett, has exemplified excellence as our top lending partner, earning the well-deserved title of 2023 Lender of the Year," said MCDC Vice President of SBA 504 Lending Eric Kehler. "Their outstanding performance in the SBA 504 Loan Program showcases a profound commitment to innovation and client service. Throughout 2023, ChoiceOne consistently delivered tailored lending solutions, demonstrating an acute understanding of borrowers' needs and making a tangible impact on our communities. Their responsiveness and meticulous approach have not only bolstered our partnership but have also set a new industry standard for lending excellence. In a year of dynamic market conditions, ChoiceOne has repeatedly fostered trust and delivered unparalleled value to both their customers and MCDC. We are honored to continue our journey of success with ChoiceOne Bank in the years ahead."

Bradley Bissett joined ChoiceOne as Vice President, Commercial Loan Officer in 2022 (East Market). With nearly 19 years of experience in commercial lending, Bissett has served as Chief Credit Officer for a community bank in Southeast Michigan and as Chief Lending Officer for a financial institution located in Margate, Florida.

Bissett received his Bachelor of Science in Business Administration from Central Michigan University in Mount Pleasant. He also graduated from the Graduate School of Banking-University of Wisconsin-Madison. Bissett serves the local Economic Development Alliance (EDA) of St. Clair County and enjoys volunteering in his children's little league baseball and basketball programs.

"Our goal is to always develop relationships with our customers so we can recommend the best solutions for their business needs," said ChoiceOne Vice President, SBA Lending Officer Aaron Griffin. "With an SBA 504 Loan, we can provide small business customers with long-term, fixed-rate financing for the acquisition of major fixed assets such as land, buildings, vehicles, machinery and equipment. ChoiceOne was recognized as the community bank who did the most SBA 504 loans with MCDC in 2023, which was four loans. Earlier this year, ChoiceOne was honored as the SBA Michigan District 504 Third Party Lender of the Year Award from the U.S. Small Business Administration (SBA) Michigan District Office, making seven SBA 504 Loans totaling nearly $7 million."

About the Michigan Certified Development Corporation
Established in 1982, the Michigan Certified Development Corporation is the state's leading partner in Small Business Administration loans. Headquartered in East Lansing with offices throughout the state, the nonprofit has supported more than 1,000 small businesses over the past four-plus decades, facilitating loans in 90% of Michigan counties and powering growth, expansion and job creation. MCDC is the first and only certified development corporate to reach Premier status with the SBA. For more information, visit https://michigancdc.org/.

About ChoiceOne
ChoiceOne Financial Services, Inc. is a financial holding company headquartered in Sparta, Michigan, and the parent corporation of ChoiceOne Bank. Member FDIC. ChoiceOne Bank operates 35 offices in parts of Kent, Ottawa, Muskegon, Newaygo, Lapeer, St. Clair, Macomb, and Oakland counties. ChoiceOne is an approximately $2.6 billion-asset bank holding company making it the eighth largest bank holding company in Michigan based on asset size. 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.

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SOURCE ChoiceOne Bank

FAQ

What award did ChoiceOne Bank receive from MCDC in 2023?

ChoiceOne Bank received the 2023 Lender of the Year Award from the Michigan Certified Development (MCDC).

Who from ChoiceOne Bank was recognized as MCDC 2023 Individual Lender of the Year?

Brad Bissett, Vice President and Commercial Loan Officer at ChoiceOne Bank, was recognized as MCDC 2023 Individual Lender of the Year.

How many SBA 504 loans did ChoiceOne Bank (COFS) complete with MCDC in 2023?

ChoiceOne Bank completed four SBA 504 loans with MCDC in 2023, the most of any community bank.

What other SBA-related award did ChoiceOne Bank (COFS) receive in 2023?

ChoiceOne Bank was honored as the SBA Michigan District 504 Third Party Lender of the Year by the U.S. Small Business Administration (SBA) Michigan District Office.