Recent Updates — COFS

ChoiceOne Financial Services reported third-quarter net income of $14.5 million, or $0.97 per diluted share, compared to $14.7 million, or $0.97 per diluted share, in the prior-year period. For the first nine months of 2026, net income totaled $40.7 million, or $2.71 per diluted share. The company highlighted an expansion in GAAP net interest margin to 3.67% from 3.59% in the second quarter, driven by loan growth and steady funding costs. Core loans increased $33.6 million during the quarter, while deposits excluding brokered deposits rose $95.7 million. Asset quality remained strong with annualized net charge-offs of just 0.08%. ChoiceOne operates as a financial holding company and bank parent in Michigan.

ChoiceOne Financial Services, Inc. reported second quarter 2026 net income of $12.5 million, or $0.83 per diluted share, compared to $13.5 million in the second quarter of 2025. The company repositioned its securities portfolio by selling $25 million in municipal securities for a pre-tax loss of $1.9 million to fund loan growth and improve its interest rate profile. Core loans increased by $87.1 million, or 11.9% annualized, during the quarter. ChoiceOne is a financial holding company that provides banking services through ChoiceOne Bank.