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ChoiceOne Financial Services, Inc. filings document a Michigan financial holding company whose common stock trades on the Nasdaq Capital Market under COFS. The record includes Form 8-K reports for quarterly operating results and financial condition, Regulation FD investor presentations, and exhibits covering bank performance, deposits, loans, mortgage warehouse advances, liquidity sources, borrowings, credit quality and interest rate risk management.
Proxy materials describe annual shareholder meeting procedures, director elections, board governance and shareholder voting matters. The filings also record completed merger-related history involving Fentura Financial and The State Bank consolidation, along with recurring corporate disclosures for ChoiceOne Bank and ChoiceOne Insurance Agencies, Inc.
ChoiceOne Financial Services director and Chief Executive Officer Kelly Potes reported routine equity compensation and related share adjustments. On April 30, 2026, Potes received a grant of 4,416 shares of common stock at no cost as a contingent right that will vest in full on April 30, 2029. In connection with the conversion of stock units granted April 30, 2023, 450 shares were withheld at $30.03 per share to satisfy tax obligations rather than sold on the market. A footnote also notes the acquisition of 791.8086 shares under the ChoiceOne Financial Services, Inc. Employee Stock Purchase Plan. After these transactions, Potes directly owned 42,048.6068 common shares and indirectly held 6,890 shares through an IRA.
ChoiceOne Financial Services, Inc. reported solid first‑quarter 2026 results, highlighted by steady profitability and strong credit quality. Net income was $13.7 million for the quarter ended March 31, 2026, compared with net income of $13.9 million in the prior quarter and a net loss of $13.9 million a year earlier. Diluted earnings per share were $0.91, versus $0.92 in the fourth quarter of 2025 and a diluted loss per share of $1.29 in the first quarter of 2025.
Total assets were $4.39 billion as of March 31, 2026, up $89.2 million from a year earlier, primarily from growth in securities and mortgage warehouse advances. Net interest margin improved to 3.63%, while the annualized cost of funds declined to 1.73%, reflecting disciplined funding costs.
Core loans declined by $30.9 million, or an annualized 4.2%, during the quarter but increased modestly over 12 months. Deposits excluding brokered balances grew by $68.9 million in the quarter. Asset quality remained strong, with annualized net loan charge‑offs to average loans of 0.01% and nonperforming loans to total loans of 1.01%. Shareholders’ equity rose to $470.0 million, and the bank’s total risk‑based capital ratio was 12.9%, keeping it well capitalized.
ChoiceOne Financial Services, Inc. is asking shareholders to vote at its May 20, 2026 virtual annual meeting on three key items: electing five directors to terms ending in 2029, an advisory approval of named executive officer compensation, and ratification of Plante & Moran, PLLC as independent auditors for 2026.
The meeting will be held exclusively online via live webcast, and shareholders of record at the close of business on March 31, 2026, when 14,956,917 shares of common stock were outstanding, are entitled to vote. The board recommends voting in favor of all director nominees, the executive compensation resolution, and the auditor ratification.
The proxy details a pay-for-performance incentive plan using asset growth, return on average assets, and asset quality modifiers, with 2025 total compensation of $1,181,700 for CEO Kelly J. Potes and $805,455 for President Michael J. Burke Jr. It also highlights governance practices including a majority-independent 15‑member board, a mandatory director retirement age of 70, anti‑hedging and pledging restrictions, and an incentive-based compensation recoupment policy tied to financial restatements.
Wendling Michelle M reported acquisition or exercise transactions in this Form 4 filing.
CHOICEONE FINANCIAL SERVICES INC director Michelle M. Wendling reported a compensation-related stock award. She received 244 shares of common stock on April 1, 2026 at a reference price of $28.12 per share. After this grant, she directly owns 7,275 common shares.
PETTY BRIAN P reported acquisition or exercise transactions in this Form 4 filing.
CHOICEONE FINANCIAL SERVICES INC director Brian P. Petty received a grant of 591 shares of Common Stock on April 1, 2026 at a price of $28.12 per share. Following this compensation-related award, he directly holds 91,698 shares of the company’s common stock.
Director Roxanne M. Page of ChoiceOne Financial Services Inc. received a grant of 244 shares of Common Stock on April 1, 2026 at a reference price of $28.12 per share. This was a grant/award acquisition, not an open-market purchase. Following the grant, she directly owns 7,120.4488 shares and indirectly holds 2,152.7237 shares through an IRA.
McGinnis Bradley F. reported acquisition or exercise transactions in this Form 4 filing.
CHOICEONE FINANCIAL SERVICES INC director Bradley F. McGinnis received a grant of 591 shares of Common Stock on April 1, 2026 at a price of $28.12 per share. This compensation-related award increased his direct holdings to 13,730 shares. He also has 15,301 shares reported as indirectly owned through Megawall Corporation.
McConnell Gregory A reported acquisition or exercise transactions in this Form 4 filing.
CHOICEONE FINANCIAL SERVICES INC director Gregory A. McConnell received a grant of 244 shares of common stock on April 1, 2026. The shares were valued at $28.12 per share for reporting purposes. After this compensation-related award, he directly holds 37,244 common shares.
ChoiceOne Financial Services director Steven Theodore Krause reported an indirect acquisition of company stock through a trust. On April 1, 2026, a trust associated with him received 591 shares of common stock as a grant/award at $28.12 per share. Following this award, the trust’s indirect holdings increased to 17,038.9081 shares. The filing also shows 29,843.3308 shares held directly and additional indirect holdings listed as being held for grandchildren. Footnotes note small additional share increases from dividend reinvestment.