CHOICEONE FINANCIAL SERVICES INC

ChoiceOne Financial Services, Inc. (NASDAQ: COFS) operates as a financial holding company providing comprehensive banking and financial services primarily throughout Michigan. The company's website is www.choiceone.bank.

ChoiceOne Bank, the company's principal subsidiary, functions as a full-service banking institution offering deposit products including time, savings, and demand deposits, along with secured and unsecured commercial and consumer lending. The bank extends credit across multiple categories including business, agricultural, construction, inventory, and real estate financing, as well as residential mortgage lending. The company also provides trust and wealth management services through its operations. Interest and fees on loans represent the primary revenue source, accounting for 76 percent of total revenues in 2025, while interest on securities contributed 12 percent. The company operates through 47 full-service offices, one drive-up office, five loan production offices, and a wealth management office across western, central, and southeastern Michigan.

As of December 31, 2025, ChoiceOne Financial Services maintained consolidated total assets of $4.4 billion, net loans of $3.0 billion, total deposits excluding brokered deposits of $3.5 billion, and shareholders' equity of $465.4 million. The company employed 598 individuals on a consolidated basis as of February 28, 2026, comprising 505 full-time employees.

The company's loan portfolio reflects significant exposure to real estate, with commercial and construction real estate loans representing approximately 59.6 percent of total loans and residential real estate loans comprising 24.1 percent. Commercial and industrial loans account for 11.7 percent of the portfolio.

ChoiceOne's corporate history includes multiple strategic acquisitions that expanded its geographic presence and asset base. The company acquired Valley Ridge Bank in 2006, Lakestone Bank & Trust in 2019, Community Shores Bank in 2020, and completed the merger of The State Bank through its parent company Fentura Financial in March 2025. The company also owns ChoiceOne Insurance Agencies, an independent insurance agency, and established 109 Technologies, LLC in 2023 to develop fintech products for third-party financial institutions.