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ChoiceOne Financial Services, Inc. is furnishing an investor presentation for its 39th annual shareholder meeting, outlining strategy, governance and recent performance. As of 3/31/2026, ChoiceOne reports $4.4 billion in total assets, $3.7 billion in deposits and $3.0 billion in gross loans across 54 Michigan locations.
For 2025, adjusted net income was $51.5 million, with adjusted basic earnings per share of $3.70, reflecting the impact of the Fentura merger adding $1.8 billion in assets. Adjusted return on average assets reached 1.26% and adjusted return on average equity 12.87%. The company paid $1.13 in 2025 cash dividends per share, a 3.8% dividend yield as of 12/31/2025, and continues to emphasize community banking, digital capabilities and shareholder returns.
ChoiceOne Financial Services, Inc. reported a solid turnaround for the three months ended March 31, 2026. Net income was 13,704 (dollars in thousands), compared with a net loss of 13,906 a year earlier, and basic and diluted earnings per share moved to 0.91 from a loss of 1.30.
Net interest income rose to 36,642 from 26,311 as loan interest increased, while no provision for credit losses was recorded versus 13,163 previously. Noninterest expense fell to 25,776 from 35,665, mainly because prior-year merger-related expenses did not recur. Total assets were 4,394,565, deposits grew to 3,667,391, and borrowings declined to 184,819.
ChoiceOne Financial Services, Inc. furnished an investor presentation outlining its first quarter 2026 profile and recent growth. As of 3/31/2026, the Michigan community bank reported $4.4 billion in total assets, $3.7 billion in deposits, and $3.0 billion in gross loans across 54 locations.
The materials highlight a community banking model paired with modern digital services and a strong awards track record in Michigan. Core loans have grown at a historical 7.5% average rate since 2022, helped by the March 2025 merger with Fentura Financial, Inc., which added about $1.8 billion in assets and 21 branches.
Profitability and balance sheet metrics show a 3.67% tax‑equivalent net interest margin and 1.24% adjusted return on average assets for Q1 2026. Asset quality remains solid, with nonperforming loans at 1.01% of total loans and annualized net charge‑offs at 0.01%. Regulatory capital ratios are comfortably above minimums, including a holding company total risk‑based capital ratio of 13.2% and common equity Tier 1 of 10.6%.
CHOICEONE FINANCIAL SERVICES INC executive vice president Bradley Henion reported routine equity compensation-related transactions in company common stock. He received a grant of 1,455 shares at no cost as part of a stock award, while 137 shares were disposed of to cover tax liabilities at a price of $30.03 per share. Footnotes explain that some shares were forfeited upon conversion of prior stock units granted on April 30, 2023, that the new award represents a contingent right to receive common shares vesting in full on April 30, 2029, and that the reported holdings also include 31.8256 shares acquired through the reinvestment of cash dividends. These are compensation and tax-withholding events rather than open-market buying or selling.
CHOICEONE FINANCIAL SERVICES INC secretary Adom Greenland reported routine equity compensation and related tax withholding on common stock. On April 30, 2026, Greenland received an award of 1,506 shares of common stock, with a footnote stating this is a contingent right that will vest in full on April 30, 2029. To cover tax obligations, 127 shares were withheld at $30.03 per share, a non-market, tax-withholding disposition. After these transactions, Greenland directly owned 17,800.4702 shares of common stock and indirectly held 3,690.1340 shares through an IRA.
ChoiceOne Financial Services President Michael J. Burke Jr. reported routine equity compensation and related tax withholding transactions involving the company’s common stock. On April 30, 2026, he indirectly acquired 2,439 shares through a Joint Trust as a grant/award at $0.00 per share.
A footnote explains this represents a contingent right to receive common shares, which will vest in full on April 30, 2029. In a separate transaction coded F, 252 shares held through the Joint Trust were disposed of at $30.03 per share to satisfy tax obligations tied to the conversion of earlier stock units granted on April 30, 2023.
After these transactions, Burke’s indirect holdings include 13,511.5025 shares of common stock through the Joint Trust and 2,891.0800 shares through an IRA, reflecting ongoing indirect ownership rather than open‑market trading.
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.