Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Interchange Income brought in 41% of the revenue CHOICEONE FINANCIAL SERVICES INC broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Interchange Income | $5.8M | $7.8M |
| Customer Service Charges | $4.8M | $6.0M |
| Trust Fee Income | $906.0K | $2.5M |
| Insurance and Investment Commission Income | $742.0K | $1.9M |
| Other Charges and Fees for Customer Services | $562.0K | $751.0K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs85¢$193.4M
- Income tax3¢$6.0M
- Profit12¢$28.2M
Out of $227.6M in revenue.3
Where each dollar of operating cash went, fiscal 2025
- Capital spending21¢$6.6M
- Dividends paid53¢$16.9M
- Share buybacks8¢$2.7M
- Kept or used elsewhere17¢$5.6M
Out of $31.8M of cash from operations.3
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Loans, including fees | $172.9M | $89.6M | $68.4M |
| Taxable | $20.9M | $21.2M | $21.2M |
| Tax exempt | $5.6M | $5.6M | $5.6M |
| Other | $3.5M | $4.7M | $3.8M |
| Total interest income | $203.0M | $121.1M | $99.0M |
| Deposits | $54.0M | $34.2M | $24.0M |
| Advances from Federal Home Loan Bank | $8.2M | $2.0M | $1.8M |
| Other | $3.7M | $10.4M | $7.3M |
| Total interest expense | $65.9M | $46.7M | $33.1M |
| Net interest income | $137.1M | $74.4M | $65.9M |
| Provision for (reversal of) credit losses on loans (Note 3) | $15.1M | $1.3M | $1.3M |
| Provision for (reversal of) credit losses on unfunded commitments | -$300.0K | -$675.0K | -$1.1M |
| Net Provision for credit losses expense | $14.8M | $625.0K | $150.0K |
| Net interest income after provision for credit losses | $122.3M | $73.8M | $65.7M |
| Customer service charges | $6.0M | $4.8M | $4.6M |
| Interchange Income | $7.8M | $5.8M | $4.7M |
| Insurance and investment commissions | $1.9M | $742.0K | $698.0K |
| Gains on sales of loans and capital servicing rights (Note 4) | $2.0M | $2.4M | $2.0M |
| Net (losses) gains on sales of securities (Note 2) | $0 | $0 | -$71.0K |
| Net (losses) gains on sales and write-downs of other assets (Note 7) | -$226.0K | $198.0K | $147.0K |
| Earnings on life insurance policies | $2.4M | $1.9M | $1.1M |
| Trust income | $2.5M | $906.0K | $771.0K |
| Change in market value of equity securities (Note 2) | $607.0K | $195.0K | -$246.0K |
| Other | $1.7M | $1.0M | $1.2M |
| Total noninterest income | $24.7M | $18.0M | $14.9M |
| Salaries and benefits (Note 14 and 15) | $52.7M | $33.4M | $32.0M |
| Occupancy and equipment (Note 5) | $9.3M | $5.8M | $6.0M |
| Data processing | $9.3M | $5.9M | $5.3M |
| Communication | $2.0M | $1.3M | $1.3M |
| Professional fees | $3.3M | $2.5M | $2.2M |
| Supplies and postage | $1.1M | $699.0K | $780.0K |
| Advertising and promotional | $981.0K | $788.0K | $721.0K |
| Intangible amortization (Note 6) | $5.8M | $757.0K | $955.0K |
| FDIC insurance | $2.0M | $1.3M | $1.2M |
| Merger related expenses | $17.4M | $1.0M | $0 |
| Other | $8.8M | $5.2M | $4.6M |
| Total noninterest expense | $112.7M | $58.7M | $55.1M |
| Income before income tax expense | $34.2M | $33.1M | $25.6M |
| Income tax expense (Note 12) | $6.0M | $6.4M | $4.3M |
| Net income | $28.2M | $26.7M | $21.3M |
| Basic earnings per share (Note 16) | $2.02 | $3.27 | $2.82 |
| Diluted earnings per share (Note 16) | $2.01 | $3.25 | $2.82 |
| Dividends declared per share | $1.13 | $1.09 | $1.05 |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and due from banks | $87.6M | $96.4M | ||
| Time deposits in other financial institutions | $350.0K | $350.0K | ||
| Cash and cash equivalents | $88.0M | $96.8M | ||
| Equity securities, at fair value (Note 2) | $9.4M | $7.8M | ||
| Securities available for sale, at fair value (Note 2) | $554.4M | $479.1M | ||
| Securities held to maturity, at amortized cost (Note 2) | $385.2M | $394.5M | ||
| Federal Home Loan Bank Stock | $18.6M | $9.4M | ||
| Federal Reserve Bank Stock | $12.6M | $5.3M | ||
| Loans held for sale | $7.2M | $7.3M | ||
| Mortgage warehouse advances (Note 3) | $59.0M | $39.9M | ||
| Core Loans (Note 3) | $3.0B | $1.5B | ||
| Total loans held for investment (Note 3) | $3.0B | $1.5B | $1.4B | |
| Allowance for loan losses (Note 3) | -$35.5M | -$16.6M | -$15.7M | -$7.6M |
| Loans, net | $3.0B | $1.5B | ||
| Premises and equipment, net (Note 5) | $48.1M | $27.1M | ||
| Other real estate owned, net (Note 7) | $2.5M | $473.0K | $122.0K | $0 |
| Cash value of life insurance policies | $74.8M | $44.9M | ||
| Goodwill (Note 6) | $129.9M | $59.9M | $59.9M | |
| Intangible assets, net (Note 6) | $31.1M | $1.1M | ||
| Other assets | $62.4M | $60.5M | ||
| Total assets | $4.4B | $2.7B | $2.6B | |
| Deposits - noninterest-bearing (Note 9) | $907.0M | $524.9M | ||
| Deposits - interest-bearing demand deposits (Note 9) | $1.4B | $920.2M | ||
| Savings deposits (Note 9) | $607.0M | $338.1M | ||
| Certificates of deposit (Note 9) | $616.2M | $394.4M | ||
| Brokered deposits (Note 9) | $104.9M | $36.5M | ||
| Total deposits | $3.6B | $2.2B | ||
| Borrowings (Note 10) | $264.8M | $175.0M | ||
| Subordinated debentures (Note 11) | $48.5M | $35.8M | ||
| Other liabilities (Notes 12) | $31.9M | $38.0M | ||
| Total liabilities | $3.9B | $2.5B | ||
| Preferred stock; shares authorized: 100,000; shares outstanding: none | $0 | $0 | ||
| Common stock and paid-in capital, no par value; shares authorized: 30,000,000; shares outstanding: 15,000,939 at December 31, 2025 and 8,965,483 at December 31, 2024 (Note 16) | $398.4M | $206.8M | ||
| Retained earnings | $102.6M | $91.4M | ||
| Accumulated other comprehensive income (loss), net | -$35.7M | -$37.8M | ||
| Total shareholders equity | $465.4M | $260.4M | $195.6M | $160.8M |
| Total liabilities and shareholders equity | $4.4B | $2.7B | ||
| Preferred stock, authorized (in shares) | 100.0K shares | 100.0K shares | ||
| Preferred stock, outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in dollars per share) | $0 | $0 | ||
| Common stock, authorized (in shares) | 30.0M shares | 30.0M shares | ||
| Common stock, outstanding (in shares) | 15.0M shares | 9.0M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and due from banks | $87.6M | $96.4M | ||
| Time deposits in other financial institutions | $350.0K | $350.0K | ||
| Cash and cash equivalents | $88.0M | $96.8M | ||
| Equity securities, at fair value (Note 2) | $9.4M | $7.8M | ||
| Securities available for sale, at fair value (Note 2) | $554.4M | $479.1M | ||
| Securities held to maturity, at amortized cost (Note 2) | $385.2M | $394.5M | ||
| Federal Home Loan Bank Stock | $18.6M | $9.4M | ||
| Federal Reserve Bank Stock | $12.6M | $5.3M | ||
| Loans held for sale | $7.2M | $7.3M | ||
| Mortgage warehouse advances (Note 3) | $59.0M | $39.9M | ||
| Core Loans (Note 3) | $3.0B | $1.5B | ||
| Total loans held for investment (Note 3) | $3.0B | $1.5B | $1.4B | |
| Allowance for loan losses (Note 3) | -$35.5M | -$16.6M | -$15.7M | -$7.6M |
| Loans, net | $3.0B | $1.5B | ||
| Premises and equipment, net (Note 5) | $48.1M | $27.1M | ||
| Other real estate owned, net (Note 7) | $2.5M | $473.0K | $122.0K | $0 |
| Cash value of life insurance policies | $74.8M | $44.9M | ||
| Goodwill (Note 6) | $129.9M | $59.9M | $59.9M | |
| Intangible assets, net (Note 6) | $31.1M | $1.1M | ||
| Other assets | $62.4M | $60.5M | ||
| Total assets | $4.4B | $2.7B | $2.6B | |
| Deposits - noninterest-bearing (Note 9) | $907.0M | $524.9M | ||
| Deposits - interest-bearing demand deposits (Note 9) | $1.4B | $920.2M | ||
| Savings deposits (Note 9) | $607.0M | $338.1M | ||
| Certificates of deposit (Note 9) | $616.2M | $394.4M | ||
| Brokered deposits (Note 9) | $104.9M | $36.5M | ||
| Total deposits | $3.6B | $2.2B | ||
| Borrowings (Note 10) | $264.8M | $175.0M | ||
| Subordinated debentures (Note 11) | $48.5M | $35.8M | ||
| Other liabilities (Notes 12) | $31.9M | $38.0M | ||
| Total liabilities | $3.9B | $2.5B | ||
| Preferred stock; shares authorized: 100,000; shares outstanding: none | $0 | $0 | ||
| Common stock and paid-in capital, no par value; shares authorized: 30,000,000; shares outstanding: 15,000,939 at December 31, 2025 and 8,965,483 at December 31, 2024 (Note 16) | $398.4M | $206.8M | ||
| Retained earnings | $102.6M | $91.4M | ||
| Accumulated other comprehensive income (loss), net | -$35.7M | -$37.8M | ||
| Total shareholders equity | $465.4M | $260.4M | $195.6M | $160.8M |
| Total liabilities and shareholders equity | $4.4B | $2.7B | ||
| Preferred stock, authorized (in shares) | 100.0K shares | 100.0K shares | ||
| Preferred stock, outstanding (in shares) | 0 shares | 0 shares | ||
| Common stock, par value (in dollars per share) | $0 | $0 | ||
| Common stock, authorized (in shares) | 30.0M shares | 30.0M shares | ||
| Common stock, outstanding (in shares) | 15.0M shares | 9.0M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $28.2M | $26.7M | $21.3M |
| Provision for credit losses | $14.8M | $625.0K | $150.0K |
| Depreciation | $3.6M | $2.5M | $2.5M |
| Amortization | $16.3M | $9.9M | $10.0M |
| Accretion on purchased loans | -$13.1M | -$1.2M | -$1.7M |
| Compensation expense on employee and director stock purchases, stock options, and restricted stock units | $883.0K | $720.0K | $1.0M |
| Net losses on sales of securities | $0 | $0 | $71.0K |
| Net change in market value of equity securities | -$607.0K | -$195.0K | $246.0K |
| Gains on sales of loans and capitalized servicing rights | -$2.0M | -$2.4M | -$2.0M |
| Loans originated for sale | -$61.5M | -$74.3M | -$56.1M |
| Proceeds from loan sales | $62.8M | $73.1M | $57.3M |
| Earnings on bank-owned life insurance | -$2.1M | -$1.2M | -$1.1M |
| Earnings on death benefit from bank-owned life insurance | -$303.0K | -$700.0K | $0 |
| (Gains) on sales of other real estate owned | $61.0K | -$46.0K | -$12.0K |
| Write downs of other real estate owned | $78.0K | $0 | $0 |
| Deferred federal income tax (expense) benefit | -$113.0K | -$271.0K | -$24.0K |
| Other assets | $3.4M | -$817.0K | $7.1M |
| Other liabilities | -$18.6M | $14.8M | $7.6M |
| Net cash provided by operating activities | $31.8M | $47.1M | $46.3M |
| Sales of securities available for sale | $78.9M | $0 | $0 |
| Sales of equity securities | $648.0K | $0 | $887.0K |
| Proceeds from Federal Home Loan Bank stock redemption | $0 | $0 | $3.9M |
| Maturities, prepayments and calls of securities available for sale | $24.4M | $33.8M | $32.3M |
| Maturities, prepayments and calls of securities held to maturity | $15.6M | $26.0M | $16.6M |
| Purchases of securities available for sale | -$83.6M | -$2.5M | -$1.6M |
| Purchases of securities held to maturity | -$4.5M | -$14.3M | -$597.0K |
| Purchases of equity securities | -$248.0K | -$82.0K | $0 |
| Purchases of Federal Home Loan Bank stock | -$7.2M | -$4.9M | -$4.8M |
| Purchase of Federal Reserve Bank stock | $0 | -$242.0K | $0 |
| Loan originations and payments, net | -$89.3M | -$134.8M | -$219.5M |
| Proceeds from sales of other real estate owned | $1.1M | $345.0K | $157.0K |
| Proceeds from bank owned life insurance death benefits claim | $940.0K | $2.1M | |
| Additions to premises and equipment | -$6.6M | -$1.7M | -$4.2M |
| Payments from (payments for) derivative contracts | $3.6M | $0 | -$4.2M |
| Issuance costs from Merger | -$8.0K | $0 | $0 |
| Cash received from merger with Fentura Financial, Inc. | $173.1M | $0 | $0 |
| Net cash (used in)/provided by investing activities | $106.7M | -$96.3M | -$181.2M |
| Net change in deposits | -$48.0M | $92.0M | $4.1M |
| Net change in short term borrowings | -$80.2M | -$25.0M | $150.0M |
| Issuance of common stock | $892.0K | $674.0K | $231.0K |
| Repurchase of common stock | -$2.7M | $0 | $0 |
| Share based compensation withholding obligation | -$327.0K | -$220.0K | $0 |
| Cash dividends | -$16.9M | -$9.0M | -$7.9M |
| Cash proceeds from common stock offering | $0 | $32.1M | $0 |
| Net cash provided by/(used in) financing activities | -$147.3M | $90.6M | $146.4M |
| Net change in cash and cash equivalents | -$8.8M | $41.3M | $11.5M |
| Cash paid for interest | $65.1M | $49.9M | $27.5M |
| Cash paid for federal income taxes | $7.3M | $6.3M | $4.5M |
| Loans transferred to other real estate owned | $1.5M | $650.0K | $267.0K |
| Acquisition of assets from merger, net of cash | $1.6B | $0 | $0 |
| Acquisition of liabilities from merger | $1.6B | $0 | $0 |
| Issuance of common stock as consideration for merger | $192.8M | $0 | $0 |
No quarter-by-quarter statement was filed.
Compare CHOICEONE FINANCIAL SERVICES INC with another company
Corporate structure
CHOICEONE FINANCIAL SERVICES INC sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of CHOICEONE FINANCIAL SERVICES INC
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on CHOICEONE FINANCIAL SERVICES INC, latest Mar 26, 2026 (2 filings since Jul 29, 2025)
- Fourthstone LLC Filed SCHEDULE 13G/A on CHOICEONE FINANCIAL SERVICES INC, latest Feb 13, 2026 (4 filings since Feb 14, 2025)
- BlackRock Filed SCHEDULE 13G on CHOICEONE FINANCIAL SERVICES INC, latest Jul 17, 2025 (6 filings since Jan 31, 2024)
- CHOICEONE FINANCIAL SERVICES INC Sparta, Michigan
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What CHOICEONE FINANCIAL SERVICES INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $80.4M3 Dec 31, 2025 | $49.3M3 Dec 31, 2024 | +63.1% |
| Accumulated depreciation | $32.3M3 Dec 31, 2025 | $22.2M3 Dec 31, 2024 | +45.5% |
| Property and equipment, net | $48.1M3 Dec 31, 2025 | $27.1M3 Dec 31, 2024 | +77.5% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $88.0M3 Dec 31, 2025 | $96.8M3 Dec 31, 2024 | −9.1% |
| Debt securities available for sale | $554.4M3 Dec 31, 2025 | $479.1M3 Dec 31, 2024 | +15.7% |
| Debt securities held to maturity | $385.2M3 Dec 31, 2025 | $394.5M3 Dec 31, 2024 | −2.4% |
| Equity securities at fair value | $9.4M3 Dec 31, 2025 | $7.8M3 Dec 31, 2024 | +20.2% |
| Deposits held (banks) | $3.6B3 Dec 31, 2025 | $2.2B3 Dec 31, 2024 | +62.6% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $129.9M3 Dec 31, 2025 | $59.9M3 Dec 31, 2024 | +116.6% |
| Intangible assets, net (excluding goodwill) | $31.1M3 Dec 31, 2025 | $1.1M3 Dec 31, 2024 | +2742.1% |
| Finite-lived intangibles, net | $1.1M4 Dec 31, 2024 | $1.9M4 Dec 31, 2023 | −40.9% |
Properties, in its own words
The Company’s headquarters are located at 109 East Division, Sparta, Michigan 49345. The headquarters location is owned by the Company and is not subject to any mortgage.
Forty‑seven of the Bank’s facilities are designed, operated, and maintained as full‑service bank branch offices and are suitable for current operations. The remaining seven facilities consist of loan production offices, a drive‑up office, and a wealth management office. Office facilities generally range in size from approximately 1,200 to 3,200 square feet, depending on location and staffing levels. All of our offices are owned by the Bank except for seven that are leased under various operating lease agreements. The Company’s management believes all offices are adequately covered by property insurance.
Item 2 of the 10-K filed Mar 13, 2026.11
Leadership
Who has led CHOICEONE FINANCIAL SERVICES INC, and when. Pick a name to see everywhere that person has worked.
Chief executive
2010201520202025
- Chief executive officerKelly Potes May 4, 2020 to now12
- Chief executive officerJames A. Bosserd Jan 20, 2006 to Jun 27, 201813
- PresidentKelly Potes Jul 23, 2015 to May 2, 201914
- PresidentJames A. Bosserd Jan 20, 2006 to Nov 25, 201513
Board members and other officers (51)
- S.V.P. - ChoiceOne Bank (Sub)Robert M. Jamula Aug 12, 2021 to Jan 26, 202315
- S.V.P. - ChoiceOne Bank (Sub.)Heather D. Brolick Oct 29, 2020 to Jan 26, 202316
- S.V.P. - ChoiceOne Bank (Sub.)Peter Batistoni Oct 11, 2019 to Jan 26, 202317
- S.V.P. - ChoiceOne Bank (Sub.)Steven M. Devolder Oct 11, 2019 to Mar 18, 202118
- S.V.P. - ChoiceOne Bank (Sub.)Shelly M. Childers Oct 18, 2019 to Jan 26, 202319
- Chief Lending OfficerBradley Henion Nov 23, 2015 to now20
- S.V.P. - ChoiceOne Bank (Sub.)Adom Greenland Dec 17, 2015 to now21
- Preisdent and C.E.O.James A. Bosserd May 8, 2013 to May 8, 201322
- VP - ChoiceOne Ins. (Subsid.)Kelly Potes Jan 20, 2006 to Jun 12, 202023
- V.P. - ChoiceOne Bank (Subsid)Lee A. Braford Jan 20, 2006 to Jan 26, 202324
- SecretaryLinda R. Pitsch Jan 20, 2006 to Feb 3, 201125
- Vice PresidentLouis D. Knooihuizen Jan 20, 2006 to Oct 5, 201626
- VP - ChoiceOne Bank (Subsid.)Mary J. Johnson Jan 20, 2006 to Oct 3, 201927
- TreasurerThomas L. Lampen Jan 20, 2006 to Feb 17, 202228
- Sr.VP-ChoiceOne Bank (subsid.)Michael E. McHugh Nov 13, 2006 to Jan 28, 200829
- VP - ChoiceOne Bank (Subsid.)Sheila R. Clark Nov 13, 2006 to Jan 8, 201930
- Board memberBrian P. Petty Mar 4, 2025 to now31
- Board memberRandy D. Hicks Mar 4, 2025 to now32
- Board memberSteven Theodore Krause Jul 8, 2025 to now33
- Board memberDavid J. Churchill May 11, 2022 to Jan 3, 202434
- Board memberCurt E. Coulter Sep 28, 2022 to now35
- Board memberMichelle M. Wendling Sep 28, 2022 to now36
- Board memberBruce Cady Oct 3, 2019 to May 11, 202237
- Board memberDavid Bush Oct 3, 2019 to Jul 26, 202238
- Board memberEric E. Burrough Oct 3, 2019 to now39
- Board memberGregory A. McConnell Oct 3, 2019 to now40
- Board memberHarold J. Burns Oct 3, 2019 to now41
- Board memberPatrick Cronin Oct 3, 2019 to Sep 28, 202242
- Board memberGreg L. Armock Jan 30, 2018 to now43
- Board memberBradley F. McGinnis Oct 25, 2018 to now44
- Board memberKelly Potes Jul 23, 2015 to now14
- Board memberKeith D. Brophy Nov 3, 2014 to now45
- Board memberRaymond A. Lanning Nov 3, 2014 to Jan 24, 201946
- Board memberJack Hendon Aug 1, 2013 to now47
- Board memberRoxanne M. Page Sep 7, 2010 to now48
- Board memberNels W. Nyblad Jul 9, 2008 to Jul 5, 202349
- Board memberAndrew W. Zamiara Jan 20, 2006 to Jan 28, 200850
- Board memberFrank G. Berris Jan 20, 2006 to Nov 14, 201651
- Board memberJames A. Bosserd Jan 20, 2006 to Jul 6, 202113
- Board memberJon E. Pike Jan 20, 2006 to Jan 31, 201152
- Board memberLinda R. Pitsch Jan 20, 2006 to Jan 20, 200625
- Board memberStuart Goodfellow Jan 20, 2006 to Nov 13, 201353
- Board memberWilliam F. Cutler Jr. Jan 20, 2006 to Jul 26, 201754
- Board memberLewis G. Emmons Feb 3, 2006 to Feb 3, 200655
- Board memberDennis C. Nelson Nov 13, 2006 to Aug 5, 201356
- Board memberDonald Vansingel Nov 13, 2006 to Nov 5, 201257
- Board memberGary D. Gust Nov 13, 2006 to Nov 13, 200658
- Board memberRichard L. Edgar Nov 13, 2006 to Dec 29, 200659
- Board memberRobert C. Humphreys Nov 13, 2006 to May 23, 200860
- Board memberJerome B. Arends Nov 14, 2006 to Nov 21, 201261
- Board memberK. Timothy Bull Nov 14, 2006 to Nov 15, 201662
Former names
- 1ST COMMUNITY BANCORP INCMay 12, 1995 to Apr 9, 19982
Timeline
- Jul 24, 20268-K Results of operations63
- May 27, 20268-K Shareholder vote64
- May 22, 20268-K Shareholder vote65
- May 20, 20268-K Regulation FD disclosure66
- May 5, 20268-K Regulation FD disclosure67
- Apr 24, 20268-K Results of operations68
- Feb 4, 20268-K Regulation FD disclosure69
- Jan 30, 20268-K Results of operations70
- Nov 6, 20258-K Regulation FD disclosure71
- Oct 24, 20258-K Ended a material agreement72
- Jul 25, 20258-K Results of operations73
- Jun 27, 20258-K Executive or director change74
- May 4, 2020New chief executive Kelly Potes becomes CEO12
- Jan 20, 2006New chief executive James A. Bosserd becomes CEO13
Calendar
Coming up
- Oct 23, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.97 a share, on Oct 24, 2025.75
When it reported results
- Jul 24, 2026Reported quarterly or annual results63
- Apr 24, 2026Reported quarterly or annual results68
- Jan 30, 2026Reported quarterly or annual results70
- Jul 25, 2025Reported quarterly or annual results73
- Apr 30, 2025Reported quarterly or annual results76
- Jan 22, 2025Reported quarterly or annual results77
- Oct 23, 2024Reported quarterly or annual results78
- Jul 25, 2024Reported quarterly or annual results79
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
499 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 60 major events, 368 insider forms, 12 large holders, 39 other. The latest 20:
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Oct 2, 20264 EDGAR
- Aug 10, 202610-Q EDGAR
- Jul 24, 20268-K EDGAR
- Jul 6, 20264 EDGAR
- Jul 6, 20264 EDGAR
- Jul 6, 20264 EDGAR
- Jul 6, 20264 EDGAR
- Jul 6, 20264 EDGAR
The 499 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
45 open-market trades by officers, directors and large owners since October 2021: 41 buys and 4 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Mar 12, 2026 | Greenland AdomSecretary | Buy | 500 | $27.40 | $13.7K | Form 4 |
| Mar 11, 2026 | Burrough Eric EDirector | Buy | 5,000 | $27.50 | $137.5K | Form 4 |
| Mar 6, 2026 | McConnell Gregory ADirector | Buy | 1,050 | $27.94 | $29.3K | Form 4 |
| Mar 3, 2026 | McGinnis Bradley F.Director | Buy | 1,000 | $29.15 | $29.1K | Form 4 |
| Feb 27, 2026 | Burke Michael J. Jr.President | Buy | 250 | $28.58 | $7.1K | Form 4 |
| Feb 13, 2026 | McConnell Gregory ADirector | Buy | 1,550 | $29.04 | $45.0K | Form 4 |
| Feb 11, 2026 | PETTY BRIAN PDirector | Sale | 15,000 | $29.56 | $443.4K | Form 4 |
| Nov 17, 2025 | Burrough Eric EDirector | Buy | 5,000 | $28.50 | $142.5K | Form 4 |
| Mar 14, 2025 | Coulter Curt EDirector | Buy | 10 | $29.78 | $298 | Form 4 |
| Feb 18, 2025 | McGinnis Bradley F.Director | Buy | 1,000 | $32.84 | $32.8K | Form 4 |
| Aug 9, 2024 | Burke Michael J JrPresident | Buy | 500 | $26.75 | $13.4K | Form 4 |
| Aug 5, 2024 | POTES KELLYChief Executive Officer | Buy | 2,000 | $26.73 | $53.5K | Form 4 |
| Aug 2, 2024 | Burke Michael J JrPresident | Buy | 1,000 | $27.25 | $27.2K | Form 4 |
| Jul 25, 2024 | Wendling Michelle MDirector | Buy | 400 | $25.00 | $10.0K | Form 4 |
| Jul 25, 2024 | POTES KELLYChief Executive Officer | Buy | 2,000 | $25.00 | $50.0K | Form 4 |
| Jul 25, 2024 | McConnell Gregory ADirector | Buy | 4,000 | $25.00 | $100.0K | Form 4 |
| Jul 25, 2024 | HENDON JACKDirector | Buy | 6,000 | $25.00 | $150.0K | Form 4 |
| Jul 25, 2024 | Greenland AdomSecretary | Buy | 2,000 | $25.00 | $50.0K | Form 4 |
| Jul 25, 2024 | Essex Bruce John JrDirector | Buy | 12,000 | $25.00 | $300.0K | Form 4 |
| Jul 25, 2024 | Burrough Eric EDirector | Buy | 16,000 | $25.00 | $400.0K | Form 4 |
All 45 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- VANGUARD GROUP INCSCHEDULE 13G/A, 2 filings Jul 29, 2025 to Mar 26, 202680
- Fourthstone LLCSCHEDULE 13G/A, 4 filings Feb 14, 2025 to Feb 13, 202681
- BlackRockSCHEDULE 13G, 6 filings Jan 31, 2024 to Jul 17, 202582
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Kelly J. PotesChief Executive Officer of ChoiceOne and ChoiceOne Bank | $550.0K | $1.2M83 | |
| 2025 | Michael (Mike) J. Burke, Jr.President of ChoiceOne and ChoiceOne Bank | $405.0K | $805.5K83 | |
| 2025 | Adom J. GreenlandExecutive Vice President & Chief Financial Officer of ChoiceOne Bank | $300.0K | $546.5K83 | |
| 2025 | Bradley A. HenionExecutive Vice President & Chief Lending Officer of ChoiceOne Bank | $290.0K | $529.4K83 | |
| 2024 | Kelly J. PotesChief Executive Officer of ChoiceOne and ChoiceOne Bank | $488.0K | $888.4K83 | |
| 2024 | Michael (Mike) J. Burke, Jr.President of ChoiceOne and ChoiceOne Bank | $370.0K | $626.8K83 | |
| 2024 | Bradley A. HenionExecutive Vice President & Chief Lending Officer of ChoiceOne Bank | $255.0K | $397.1K83 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How CHOICEONE FINANCIAL SERVICES INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARCHOICEONE FINANCIAL SERVICES INC1
- CIK0000803164
- Employer ID (EIN)38-265906611
- Filer statusAccelerated filer not an emerging growth company; a smaller reporting company; not a shell company11
- Incorporated inMichigan11
- Fiscal year endsDecember 311
- Industry code (SIC)6022 State Commercial Banks1
- SEC reviewing officeOffice of Finance, Division of Corporation Finance1
- Business address109 E Division, P O Box 186, Sparta, MI 49345-01861
- Mailing address109 East Division, P O Box 186, Sparta, MI 49345-01861
- Phone61688773661
- Shares outstanding14,955,520 as of Jul 31, 20269
- Public float$402.4M as of Jun 30, 202511
- AuditorPlante & Moran, PLLC, Grand Rapids, Michigan PCAOB ID 166; it also attests to the company’s internal control over financial reporting11
- On EDGAR sinceApr 7, 19951
- Filings1,781 in all: 4 (1,230), 8-K (211), 10-Q (82), 3 (40), DEF 14A (32), 425 (30), 10-K (26), 10QSB (13)1
All 43 form types
4/A (10), S-8 (9), ARS (8), CORRESP (7), EFFECT (7), 5 (6), PRE 14A (6), S-4/A (6), UPLOAD (6), 8-K/A (5), SC 13G (5), SCHEDULE 13G/A (5), S-4 (4), 424B3 (3), SC 13G/A (3), SCHEDULE 13G (3), 10KSB (2), 10KSB40 (2), 424B5 (2), S-3 (2), S-8 POS (2), 10-K/A (1), 10-K405 (1), 144 (1), 3/A (1), 8-A12B (1), CERT (1), D (1), DEFA14A (1), NT 10-K (1), NT 10-Q (1), NT 10-Q/A (1), POS AM (1), S-3D (1), S-4MEF (1)
- Latest filingsAnnual report (10-K) Mar 13, 2026
Quarterly report (10-Q) Aug 10, 2026
Proxy statement (DEF 14A) Apr 13, 2026
Latest 8-K (8-K) Jul 24, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common stock | COFS | NASDAQ |
From the cover page of the 10-K filed Mar 13, 2026 (Section 12(b) of the Exchange Act).11
Risk factors and legal proceedings
The risks CHOICEONE FINANCIAL SERVICES INC names in Item 1A of its 10-K filed Mar 13, 2026: 35 risks under these headings, as written.11
- Risks Related to the Company’s Business
- Asset quality could be less favorable than expected.
- The Company’s allowance for credit losses may not be adequate to cover actual credit losses.
- General economic conditions in the state of Michigan could have a material adverse effect on the Company’s results of operations or financial condition.
- We may be adversely affected by risks associated with future mergers and acquisitions, including execution risk, which could disrupt our business and dilute shareholder value.
- The Company could be adversely affected by the soundness of other financial institutions, including defaults by larger financial institutions.
- If the Company does not adjust to changes in the financial services industry, its financial performance may suffer.
- We are subject to significant government regulation, and any regulatory changes may adversely affect us.
- Changes in interest rates could reduce the Company’s income and cash flow.
- The Company is subject to liquidity risk in its operations, which could adversely affect its ability to fund various obligations.
- If the Company were required to sell investment securities in an unrealized loss position to meet liquidity needs and realize losses, that could have a material adverse impact on its results of operation and financial condition.
- Evaluation of investment securities for an allowance for credit losses involves subjective determinations and could have a material adverse impact on our results of operations and financial condition.
The other 24 risks
- The Company has significant exposure to risks associated with commercial and residential real estate.
- Commercial loans may expose the Company to greater financial and credit risk than other loans.
- Legislative or regulatory changes or actions could adversely impact the Company or the businesses in which it is engaged.
- The Company relies heavily on its management and other key personnel, and the loss of any of them may adversely affect its operations.
- The Company’s controls and procedures may fail or be circumvented.
- The Company may be a defendant in a variety of litigation and other actions, which may have a material adverse effect on the Company’s financial condition and results of operations.
- If the Company cannot raise additional capital when needed, its ability to further expand its operations through organic growth or acquisitions could be materially impaired.
- Unauthorized disclosure of sensitive or confidential client or customer information, whether through a breach of computer systems or otherwise, could severely harm the Company’s business.
- The Company's information systems may experience an interruption or breach in security.
- Cybersecurity incidents could disrupt business operations, result in the loss of critical and confidential information, and adversely impact our reputation and results of operations.
- Employee misconduct could adversely impact our reputation and results of operations.
- Environmental liability associated with commercial lending could result in losses.
- The Company depends upon the accuracy and completeness of information about customers.
- Our reliance on third party vendors could cause operational losses or business interruptions.
- Severe weather, natural disasters, acts of war or terrorism, a public health crisis, and other external events could significantly impact the Company’s business.
- The Company relies on dividends from the Bank for most of its revenue.
- Additional risks and uncertainties could have a negative effect on financial performance.
- Risks Related to the Company’s Common Stock
- Investments in the Company’s common stock involve risk.
- The Company’s common stock, while publicly traded, has less liquidity than the average liquidity of stocks listed on the Nasdaq Stock Market.
- The Company's common stock is not insured by any government entity.
- A shareholder’s ownership of common stock may be diluted if the Company issues additional shares of common stock in the future.
- The value of the Company's common stock may be adversely affected if the Company issues debt and equity securities that are senior to the Company's common stock in liquidation or as to distributions.
- The Company's articles of incorporation and bylaws, and certain provisions of Michigan law, contain provisions that could make a takeover effort more difficult.
- An entity or group holding a certain percentage of the Company's outstanding securities could become subject to regulation as a "bank holding company" or may be required to obtain prior approval of the Federal Reserve Board.
Legal proceedings
As of December 31, 2025, there were no significant pending legal proceedings to which the Company or the Bank is a party or to which any of their properties were subject, except for legal proceedings arising in the ordinary course of business. In the opinion of management, pending legal proceedings will not have a material adverse effect on the consolidated financial condition of the Company.
The opening of Item 3, Legal Proceedings.11
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12SEC EDGARKelly Potes, Chief executive officer
- 13
- 14SEC EDGARKelly Potes, President
- 15
- 16
- 17
- 18
- 19
- 20
- 21
- 22
- 23
- 24
- 25SEC EDGARLinda R. Pitsch, Secretary
- 26SEC EDGARLouis D. Knooihuizen, Vice President
- 27
- 28SEC EDGARThomas L. Lampen, Treasurer
- 29
- 30
- 31SEC EDGARBrian P. Petty, Board member
- 32SEC EDGARRandy D. Hicks, Board member
- 33SEC EDGARSteven Theodore Krause, Board member
- 34SEC EDGARDavid J. Churchill, Board member
- 35SEC EDGARCurt E. Coulter, Board member
- 36SEC EDGARMichelle M. Wendling, Board member
- 37SEC EDGARBruce Cady, Board member
- 38SEC EDGARDavid Bush, Board member
- 39SEC EDGAREric E. Burrough, Board member
- 40SEC EDGARGregory A. McConnell, Board member
- 41SEC EDGARHarold J. Burns, Board member
- 42SEC EDGARPatrick Cronin, Board member
- 43SEC EDGARGreg L. Armock, Board member
- 44SEC EDGARBradley F. McGinnis, Board member
- 45SEC EDGARKeith D. Brophy, Board member
- 46SEC EDGARRaymond A. Lanning, Board member
- 47SEC EDGARJack Hendon, Board member
- 48SEC EDGARRoxanne M. Page, Board member
- 49SEC EDGARNels W. Nyblad, Board member
- 50SEC EDGARAndrew W. Zamiara, Board member
- 51SEC EDGARFrank G. Berris, Board member
- 52SEC EDGARJon E. Pike, Board member
- 53SEC EDGARStuart Goodfellow, Board member
- 54SEC EDGARWilliam F. Cutler Jr., Board member
- 55SEC EDGARLewis G. Emmons, Board member
- 56SEC EDGARDennis C. Nelson, Board member
- 57SEC EDGARDonald Vansingel, Board member
- 58SEC EDGARGary D. Gust, Board member
- 59SEC EDGARRichard L. Edgar, Board member
- 60SEC EDGARRobert C. Humphreys, Board member
- 61SEC EDGARJerome B. Arends, Board member
- 62SEC EDGARK. Timothy Bull, Board member
- 63SEC EDGARResults of operations
- 64SEC EDGARShareholder vote
- 65SEC EDGARShareholder vote
- 66SEC EDGARRegulation FD disclosure
- 67SEC EDGARRegulation FD disclosure
- 68SEC EDGARResults of operations
- 69SEC EDGARRegulation FD disclosure
- 70SEC EDGARResults of operations
- 71SEC EDGARRegulation FD disclosure
- 72SEC EDGAREnded a material agreement
- 73SEC EDGARResults of operations
- 74SEC EDGARExecutive or director change
- 75NasdaqNasdaq calendar
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