ChoiceOne Financial Services (COFS) Financials

$33.92 0.00 (0.00%)

Closing price 07/2/2026 04:00 PM Eastern

Extended Trading

$33.92 0.00 (0.00%)

As of 06:42 AM Eastern

Annual Income Statements for ChoiceOne Financial Services

This table shows ChoiceOne Financial Services' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	5.74	6.09	6.17	7.33	7.17	16	22	24	21	27	28
Consolidated Net Income / (Loss)	5.74	6.09	6.17	7.33	7.17	16	22	24	21	27	28
Net Income / (Loss) Continuing Operations	5.74	6.09	6.17	7.33	7.17	16	22	24	21	27	28
Total Pre-Tax Income	7.69	8.25	8.56	8.49	8.47	19	26	28	26	33	34
Total Revenue	26	27	28	29	37	74	80	81	81	92	162
Net Interest Income / (Expense)	18	19	21	22	28	51	61	67	66	74	137
Total Interest Income	19	20	22	25	32	56	65	75	99	121	203
Loans and Leases Interest Income	16	17	18	20	27	47	49	53	68	90	173
Investment Securities Interest Income	3.37	3.78	3.98	4.36	5.43	8.58	16	22	27	27	27
Other Interest Income	0.01	0.02	0.10	0.13	0.27	0.27	0.08	0.49	3.80	4.68	3.52
Total Interest Expense	0.99	0.97	1.48	2.46	4.70	4.64	3.98	7.75	33	47	66
Deposits Interest Expense	0.88	0.79	1.19	2.18	4.19	4.18	3.31	5.85	24	34	54
Long-Term Debt Interest Expense	0.08	0.17	0.28	0.24	0.46	0.22	0.02	0.12	1.77	2.04	8.20
Other Interest Expense	-	-	-	0.05	0.06	0.25	0.65	1.78	7.33	10	3.72
Total Non-Interest Income	7.70	7.88	7.81	6.92	9.17	23	19	14	15	18	25
Trust Fees by Commissions	-	-	-	0.00	0.16	0.74	0.79	0.73	0.77	0.91	2.53
Service Charges on Deposit Accounts	-	4.06	-	4.53	5.28	7.25	8.63	-	4.60	4.77	5.99
Other Service Charges	5.50	1.45	5.49	0.82	0.93	1.48	1.75	11	1.91	1.75	3.62
Net Realized & Unrealized Capital Gains on Investments	1.56	2.02	1.92	1.19	2.03	13	7.22	1.63	1.78	2.83	2.36
Other Non-Interest Income	0.65	0.36	0.40	0.39	0.77	0.62	0.81	0.36	5.84	7.73	10
Provision for Credit Losses	0.10	-	0.49	0.04	0.00	4.00	0.42	0.25	0.15	0.63	15
Total Non-Interest Expense	18	19	19	20	28	51	53	53	55	59	113
Salaries and Employee Benefits	9.27	9.98	10	11	14	27	29	30	32	33	53
Net Occupancy & Equipment Expense	4.72	4.86	5.18	4.93	6.77	13	12	12	11	12	19
Marketing Expense	0.25	0.22	0.30	0.31	0.53	0.59	0.85	0.76	0.72	0.79	0.98
Property & Liability Insurance Claims	0.29	0.24	0.20	0.19	0.05	0.45	0.80	0.72	1.18	1.34	2.01
Other Operating Expenses	3.30	3.29	3.41	4.04	6.38	9.26	8.31	8.77	8.85	9.69	15
Amortization Expense	0.45	0.38	0.00	0.00	0.35	1.50	1.31	1.15	0.96	0.76	5.82
Restructuring Charge	-	-	-	-	-	-	-	0.00	0.00	1.04	17
Income Tax Expense	1.95	2.16	2.39	1.16	1.29	3.27	4.46	4.02	4.31	6.36	6.01
Basic Earnings per Share	$1.67	$1.68	$1.70	$2.03	$1.58	$2.08	$2.87	$3.15	$2.82	$3.27	$2.02
Weighted Average Basic Shares Outstanding	3.30M	3.45M	3.62M	3.61M	7.25M	7.80M	7.52M	7.52M	7.55M	8.97M	14.98M
Diluted Earnings per Share	$1.66	$1.68	$1.70	$2.02	$1.58	$2.07	$2.86	$3.15	$2.82	$3.25	$2.01
Weighted Average Diluted Shares Outstanding	3.30M	3.45M	3.62M	3.61M	7.25M	7.80M	7.52M	7.52M	7.55M	8.97M	14.98M
Weighted Average Basic & Diluted Shares Outstanding	3.30M	3.45M	3.62M	3.61M	7.25M	7.80M	7.52M	7.52M	7.55M	8.97M	14.98M
Cash Dividends to Common per Share	$0.63	$0.62	$0.64	$0.71	$1.40	$0.82	$0.94	$1.01	$1.05	$1.09	$1.13

This table shows ChoiceOne Financial Services' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	5.12	5.29	5.63	6.59	7.35	7.16	-14	14	15	14	14
Consolidated Net Income / (Loss)	5.12	5.29	5.63	6.59	7.35	7.16	-14	14	15	14	14
Net Income / (Loss) Continuing Operations	5.12	5.29	5.63	6.59	7.35	7.16	-14	14	15	14	14
Total Pre-Tax Income	6.20	6.45	6.84	8.18	9.27	8.80	-18	17	18	17	17
Total Revenue	20	21	21	22	25	24	31	43	45	43	42
Net Interest Income / (Expense)	16	17	16	18	20	19	26	36	38	37	37
Total Interest Income	26	28	28	30	32	31	40	54	55	54	53
Loans and Leases Interest Income	18	20	21	22	23	24	33	47	47	47	46
Investment Securities Interest Income	6.77	6.92	6.76	6.88	6.97	6.24	6.14	6.66	6.67	7.07	6.94
Other Interest Income	1.76	1.29	0.89	1.09	1.47	1.23	1.18	0.74	0.91	0.69	0.69
Total Interest Expense	10	11	12	12	11	12	14	18	17	18	17
Deposits Interest Expense	7.24	8.42	8.78	8.33	8.36	8.71	11	15	14	14	14
Long-Term Debt Interest Expense	0.27	0.27	0.44	0.46	0.47	0.67	2.05	1.66	1.93	2.56	2.18
Other Interest Expense	2.57	2.71	2.74	2.79	2.61	2.31	0.88	1.10	0.89	0.85	0.71
Total Non-Interest Income	3.70	4.05	4.05	4.08	4.87	4.99	4.92	6.50	7.14	6.10	5.82
Trust Fees by Commissions	0.20	0.19	0.21	0.22	0.23	0.24	0.51	0.60	0.73	0.69	0.69
Service Charges on Deposit Accounts	2.38	-2.32	1.14	1.15	1.25	-	1.18	1.40	1.73	1.68	1.66
Other Service Charges	0.50	0.46	1.71	1.95	0.45	11	0.78	3.07	0.90	-2.63	0.75
Net Realized & Unrealized Capital Gains on Investments	0.34	0.68	0.49	0.47	1.10	0.58	0.56	0.60	1.09	0.11	0.24
Other Non-Interest Income	0.28	5.03	0.50	0.31	1.84	1.01	1.90	0.84	2.69	6.25	2.48
Provision for Credit Losses	0.00	0.38	0.00	0.00	0.43	0.20	13	0.65	0.20	0.80	0.00
Total Non-Interest Expense	14	14	14	14	15	15	36	26	26	25	26
Salaries and Employee Benefits	8.04	8.01	7.83	8.26	8.37	8.94	10	14	14	15	14
Net Occupancy & Equipment Expense	3.15	1.73	2.80	2.95	3.07	1.91	3.72	4.87	5.19	4.84	4.88
Marketing Expense	0.27	0.15	0.15	0.20	0.17	0.27	0.26	0.26	0.21	0.26	0.26
Property & Liability Insurance Claims	0.27	0.39	0.38	0.39	0.39	0.18	0.46	0.55	0.53	0.48	0.57
Other Operating Expenses	1.75	3.29	2.32	2.28	2.57	3.50	3.03	4.20	4.43	3.53	4.31
Amortization Expense	0.25	0.20	0.20	0.20	0.20	0.15	0.68	1.73	1.73	1.68	1.69
Restructuring Charge	0.00	-	0.00	0.00	0.65	-	17	0.17	0.00	-	0.00
Income Tax Expense	1.08	1.16	1.21	1.59	1.93	1.64	-3.69	3.14	3.65	2.92	2.98
Basic Earnings per Share	$0.68	$0.70	$0.75	$0.87	$0.86	$0.79	($1.30)	$0.90	$0.98	$1.44	$0.91
Weighted Average Basic Shares Outstanding	7.55M	7.55M	7.57M	8.96M	8.96M	8.97M	14.98M	15.02M	15.02M	14.98M	14.98M
Diluted Earnings per Share	$0.68	$0.70	$0.74	$0.87	$0.85	$0.79	($1.29)	$0.90	$0.97	$1.43	$0.91
Weighted Average Diluted Shares Outstanding	7.55M	7.55M	7.57M	8.96M	8.96M	8.97M	14.98M	15.02M	15.02M	14.98M	14.98M
Weighted Average Basic & Diluted Shares Outstanding	7.55M	7.55M	7.57M	8.96M	8.96M	8.97M	14.98M	15.02M	15.02M	14.98M	14.98M
Cash Dividends to Common per Share	$0.26	$0.27	$0.27	$0.27	$0.27	$0.28	$0.28	$0.28	$0.28	$0.29	$0.29

This table details how cash moves in and out of ChoiceOne Financial Services' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-5.46	3.62	22	-17	40	20	-48	12	11	41	-8.76
Net Cash From Operating Activities	3.98	11	8.09	9.96	9.20	8.48	38	44	46	47	32
Net Cash From Continuing Operating Activities	3.98	11	8.09	9.96	9.20	8.48	38	44	46	47	32
Net Income / (Loss) Continuing Operations	5.74	6.09	6.17	7.33	7.17	16	22	24	21	27	28
Consolidated Net Income / (Loss)	5.74	6.09	6.17	7.33	7.17	16	22	24	21	27	28
Provision For Loan Losses	0.10	-	0.49	0.04	0.00	4.00	0.42	0.25	0.15	0.63	15
Depreciation Expense	0.99	1.08	1.39	1.18	1.61	2.72	2.62	2.66	2.48	2.46	3.61
Amortization Expense	1.50	1.53	1.06	0.89	1.52	4.99	9.80	11	9.95	9.87	16
Non-Cash Adjustments to Reconcile Net Income	-3.27	2.38	-0.65	0.81	-1.73	-12	2.52	5.10	-2.23	-6.58	-16
Changes in Operating Assets and Liabilities, net	-1.07	-0.15	-0.37	-0.30	0.64	-6.72	0.30	2.00	15	14	-15
Net Cash From Investing Activities	-23	-41	-18	-44	36	-251	-521	-90	-181	-96	107
Net Cash From Continuing Investing Activities	-23	-41	-18	-44	36	-251	-521	-90	-181	-96	107
Purchase of Property, Leasehold Improvements and Equipment	-1.04	-1.82	-1.66	-4.21	-0.77	-1.85	-2.76	-1.16	-4.23	-1.71	-6.63
Purchase of Investment Securities	-75	-92	-92	-56	-210	-455	-603	-196	-231	-157	-185
Sale and/or Maturity of Investments	53	52	75	16	247	206	84	108	54	62	125
Other Investing Activities, net	-	-	0.00	-	-	-	0.00	0.00	0.00	0.00	173
Net Cash From Financing Activities	13	34	32	17	-5.69	262	436	58	146	91	-147
Net Cash From Continuing Financing Activities	13	34	32	17	-5.69	262	436	58	146	91	-147
Net Change in Deposits	40	38	27	37	3.99	292	378	66	4.05	92	-48
Issuance of Debt	195	311	213	129	115	10	88	726	-	-	-80
Issuance of Common Equity	0.21	0.09	0.10	0.08	0.14	0.13	0.14	0.17	0.23	33	0.89
Repurchase of Common Equity	-0.37	-0.79	-0.20	-0.52	-0.07	0.00	-7.79	-0.68	0.00	0.00	-2.68
Payment of Dividends	-2.17	-2.23	-2.32	-2.58	-5.82	-6.17	-7.20	-7.58	-7.91	-9.01	-17
Other Financing Activities, Net	-17	-1.55	-0.77	-2.35	-8.90	-	0.00	-0.09	0.00	-0.22	-0.33
Cash Interest Paid	1.01	0.98	1.47	2.30	4.50	4.87	3.72	7.58	27	50	65
Cash Income Taxes Paid	2.40	1.76	2.12	0.85	1.04	5.00	3.25	1.99	4.45	6.35	7.29

This table details how cash moves in and out of ChoiceOne Financial Services' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	68	-89	95	-49	45	-49	43	17	-57	-11	-3.77
Net Cash From Operating Activities	32	-11	15	16	-7.36	24	-9.39	8.96	15	14	-0.18
Net Cash From Continuing Operating Activities	32	-11	15	16	-7.36	24	-9.39	8.96	15	14	-0.18
Net Income / (Loss) Continuing Operations	5.12	5.29	5.63	6.59	7.35	7.16	-14	14	15	14	14
Consolidated Net Income / (Loss)	5.12	5.29	5.63	6.59	7.35	7.16	-14	14	15	14	14
Provision For Loan Losses	-	0.38	0.00	-	0.43	0.20	13	0.65	0.20	0.80	0.00
Depreciation Expense	0.62	0.62	0.64	0.64	0.64	0.56	0.65	0.88	1.05	1.03	0.88
Amortization Expense	2.53	2.46	2.43	2.38	2.45	2.61	2.99	4.53	4.46	4.29	4.05
Non-Cash Adjustments to Reconcile Net Income	3.86	-1.98	-1.47	-0.14	-1.84	-2.51	-3.69	-8.01	-0.43	-6.55	-4.92
Changes in Operating Assets and Liabilities, net	20	-18	8.09	6.27	-16	16	-8.60	-2.63	-4.66	0.60	-14
Net Cash From Investing Activities	-29	-85	7.61	-3.60	-59	-42	260	10	-42	-118	15
Net Cash From Continuing Investing Activities	-29	-85	7.61	-3.60	-59	-42	260	10	-42	-118	15
Purchase of Property, Leasehold Improvements and Equipment	-1.24	-0.78	-0.31	-0.48	-0.25	-0.66	-0.84	-2.08	-1.60	-2.12	-1.52
Purchase of Investment Securities	-45	-105	-8.47	-20	-68	-61	-3.38	-5.63	-48	-125	-4.37
Sale and/or Maturity of Investments	17	17	16	17	8.77	20	91	18	7.25	9.14	20
Other Investing Activities, net	-	4.19	0.00	-	-	-	173	-0.01	-	-	0.00
Net Cash From Financing Activities	65	6.89	72	-61	112	-32	-208	-2.15	-30	93	-18
Net Cash From Continuing Financing Activities	65	6.89	72	-61	112	-32	-208	-2.15	-30	93	-18
Net Change in Deposits	47	-11	64	-59	82	5.87	5.75	-59	-26	31	67
Issuance of Debt	-	-	-	-	-10	-	-208	61	-0.71	67	-80
Issuance of Common Equity	0.05	0.06	0.06	0.06	32	0.17	0.17	0.26	0.25	0.21	0.26
Repayment of Debt	20	20	10	-10	10	-350	0.00	-	-0.21	-	0.00
Repurchase of Common Equity	-	-	0.00	-	-	-	-2.06	-	-	-	-1.44
Payment of Dividends	-1.96	-2.04	-2.04	-2.04	-2.42	-2.51	-4.19	-4.20	-4.20	-4.35	-4.34
Other Financing Activities, Net	-	-	-0.08	-0.14	-	-	0.00	-0.33	-	-	0.00
Cash Interest Paid	8.12	9.09	15	9.41	9.67	16	12	18	15	21	17
Cash Income Taxes Paid	1.00	0.55	0.00	2.75	1.70	1.90	0.00	2.84	-	4.45	0.00

This table presents ChoiceOne Financial Services' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	568	607	647	671	1,386	1,919	2,367	2,386	2,577	2,723	4,411
Cash and Due from Banks	11	15	37	20	59	79	32	44	55	96	88
Interest Bearing Deposits at Other Banks	-	-	-	-	0.25	0.35	0.35	0.35	0.35	0.35	0.35
Trading Account Securities	165	176	157	170	346	591	1,117	969	935	889	956
Loans and Leases, Net of Allowance	345	365	394	404	798	1,062	1,009	1,182	1,376	-17	2,927
Loans and Leases	349	369	399	409	802	1,070	1,017	1,190	1,391	-	2,963
Allowance for Loan and Lease Losses	4.19	4.28	4.58	4.67	4.06	7.59	7.69	7.62	16	17	36
Premises and Equipment, Net	12	13	13	16	24	29	30	28	30	27	48
Mortgage Servicing Rights	-	-	-	-	-	-	-	-	-	40	59
Goodwill	14	14	14	14	53	61	60	60	60	60	130
Intangible Assets	0.38	-	-	0.00	6.01	5.27	3.96	2.81	1.85	1.10	31
Other Assets	20	25	32	47	100	92	115	100	119	1,626	171
Total Liabilities & Shareholders' Equity	568	607	647	671	1,386	1,919	2,367	2,386	2,577	2,723	4,411
Total Liabilities	498	536	570	590	1,194	1,692	2,145	2,217	2,381	2,463	3,945
Non-Interest Bearing Deposits	123	128	151	154	287	478	561	600	548	525	907
Interest Bearing Deposits	352	385	388	423	867	1,197	1,491	1,518	1,574	1,689	2,693
Long-Term Debt	11	12	20	5.23	33	12	85	85	236	211	313
Other Long-Term Liabilities	2.42	3.07	2.73	3.02	6.19	5.08	7.70	14	24	38	32
Total Equity & Noncontrolling Interests	70	72	77	80	192	227	222	169	196	260	465
Total Preferred & Common Equity	70	72	77	80	192	227	222	169	196	260	465
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	70	72	77	80	192	227	222	169	196	260	465
Common Stock	47	46	50	55	163	179	172	172	174	207	398
Retained Earnings	22	26	26	27	28	37	52	68	74	91	103
Accumulated Other Comprehensive Income / (Loss)	1.20	-0.60	0.24	-0.73	1.48	11	-2.58	-72	-52	-38	-36

This table presents ChoiceOne Financial Services' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	2,574	2,671	2,623	2,726	4,305	4,310	4,297	4,395
Cash and Due from Banks	144	150	101	146	137	155	98	84
Interest Bearing Deposits at Other Banks	0.35	0.35	0.35	0.35	2.32	1.33	1.09	0.35
Trading Account Securities	918	916	898	903	888	887	948	977
Loans and Leases, Net of Allowance	1,271	1,373	1,385	1,449	2,888	2,883	2,873	2,897
Loans and Leases	1,286	1,389	1,401	1,465	2,923	2,918	2,907	2,932
Allowance for Loan and Lease Losses	15	16	16	16	35	35	35	35
Premises and Equipment, Net	30	28	27	27	44	46	46	49
Mortgage Servicing Rights	-	-	-	-	-	-	-	51
Goodwill	60	60	60	60	127	127	127	130
Intangible Assets	2.06	1.65	1.45	1.25	35	33	32	29
Other Assets	149	142	151	139	183	178	172	177
Total Liabilities & Shareholders' Equity	2,574	2,671	2,623	2,726	4,305	4,310	4,297	4,395
Total Liabilities	2,393	2,464	2,409	2,478	3,878	3,878	3,847	3,925
Non-Interest Bearing Deposits	532	503	517	521	912	944	904	913
Interest Bearing Deposits	1,601	1,683	1,610	1,687	2,740	2,649	2,663	2,755
Long-Term Debt	215	246	246	246	186	247	246	233
Other Long-Term Liabilities	44	33	36	24	41	39	34	24
Total Equity & Noncontrolling Interests	181	207	215	248	427	432	450	470
Total Preferred & Common Equity	181	207	215	248	427	432	450	470
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	181	207	215	248	427	432	450	470
Common Stock	173	174	174	206	398	398	399	397
Retained Earnings	70	77	82	87	73	83	93	112
Accumulated Other Comprehensive Income / (Loss)	-62	-44	-41	-45	-44	-49	-42	-40

This table displays calculated financial ratios and metrics derived from ChoiceOne Financial Services' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	3,292,716.00	3,276,097.00	3,451,987.00	3,615,568.00	7,246,068.00	7,795,099.00	7,574,235.00	7,514,076.00	7,545,094.00	-	15,023,732.00
DEI Adjusted Shares Outstanding	3,292,716.00	3,276,097.00	3,451,987.00	3,615,568.00	7,246,068.00	7,795,099.00	7,574,235.00	7,514,076.00	7,545,094.00	-	15,023,732.00
DEI Earnings Per Adjusted Shares Outstanding	1.74	1.86	1.79	2.03	0.99	2.00	2.91	3.15	2.82	-	1.88
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.67%	4.45%	4.22%	2.15%	27.45%	99.69%	8.22%	1.94%	-0.73%	14.42%	74.97%
EBITDA Growth	-0.77%	6.78%	1.33%	-4.01%	9.73%	129.39%	46.38%	5.34%	-7.32%	19.54%	19.01%
EBIT Growth	-1.07%	7.34%	3.67%	-0.78%	-0.27%	123.10%	40.31%	4.38%	-7.56%	29.42%	3.32%
NOPAT Growth	0.84%	6.04%	1.28%	18.89%	-2.21%	117.72%	41.18%	7.25%	-10.06%	25.71%	5.42%
Net Income Growth	0.84%	6.04%	1.28%	18.89%	-2.21%	117.72%	41.18%	7.25%	-10.06%	25.71%	5.42%
EPS Growth	-3.49%	1.20%	1.19%	18.82%	-21.78%	31.01%	38.16%	10.14%	-10.48%	15.25%	-38.15%
Operating Cash Flow Growth	-46.77%	174.69%	-25.96%	23.05%	-7.56%	-7.87%	344.67%	17.58%	4.53%	4.66%	-32.43%
Free Cash Flow Firm Growth	327.28%	-81.78%	-222.32%	534.74%	-617.63%	100.96%	-3,651.34%	269.46%	-304.42%	91.46%	-1,999.84%
Invested Capital Growth	-18.56%	1.41%	13.11%	-17.56%	162.91%	6.37%	27.95%	-17.13%	69.65%	9.28%	65.25%
Revenue Q/Q Growth	-0.61%	2.25%	2.46%	-0.79%	24.78%	7.32%	0.26%	1.53%	-0.63%	4.22%	12.99%
EBITDA Q/Q Growth	-4.98%	6.26%	-2.26%	-5.92%	28.02%	-3.04%	6.58%	3.25%	-3.50%	5.66%	23.10%
EBIT Q/Q Growth	-7.15%	8.17%	-3.31%	-5.51%	24.36%	-8.42%	4.82%	6.22%	-4.85%	7.65%	30.49%
NOPAT Q/Q Growth	-5.53%	8.32%	-4.95%	6.71%	20.06%	7.39%	4.32%	7.61%	-6.14%	7.51%	31.25%
Net Income Q/Q Growth	-5.53%	8.32%	-4.95%	6.71%	20.06%	7.39%	4.32%	7.61%	-6.14%	7.51%	31.25%
EPS Q/Q Growth	-9.78%	5.66%	0.59%	6.32%	-4.24%	4.02%	5.15%	7.88%	-6.31%	2.85%	46.72%
Operating Cash Flow Q/Q Growth	-41.34%	48.89%	-3.87%	5.70%	9.85%	151.46%	-35.33%	10.37%	-34.11%	252.76%	-25.55%
Free Cash Flow Firm Q/Q Growth	-5.12%	117.00%	-143.87%	6.55%	-1,021.69%	100.93%	-1,552.33%	-15.46%	14.47%	81.52%	-54.43%
Invested Capital Q/Q Growth	8.70%	-21.65%	-5.81%	-8.07%	165.62%	1.49%	17.95%	32.46%	8.71%	-4.51%	11.91%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	39.02%	39.89%	38.79%	36.45%	31.38%	36.05%	48.75%	50.38%	47.03%	49.14%	33.42%
EBIT Margin	29.50%	30.31%	30.15%	29.29%	22.91%	25.60%	33.19%	33.98%	31.65%	35.80%	21.14%
Profit (Net Income) Margin	22.03%	22.37%	21.74%	25.30%	19.41%	21.16%	27.61%	29.05%	26.32%	28.91%	17.42%
Tax Burden Percent	74.70%	73.80%	72.10%	86.39%	84.71%	82.67%	83.18%	85.47%	83.16%	80.77%	82.41%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	25.30%	26.20%	27.90%	13.61%	15.29%	17.33%	16.82%	14.53%	16.84%	19.23%	17.59%
Return on Invested Capital (ROIC)	5.69%	6.67%	6.30%	7.73%	4.61%	6.72%	8.07%	8.43%	6.21%	5.92%	4.51%
ROIC Less NNEP Spread (ROIC-NNEP)	5.69%	6.67%	6.30%	7.73%	4.61%	6.72%	8.07%	8.43%	6.21%	5.92%	4.51%
Return on Net Nonoperating Assets (RNNOA)	2.76%	1.93%	2.02%	1.61%	0.65%	0.73%	1.75%	3.68%	5.46%	5.80%	3.26%
Return on Equity (ROE)	8.44%	8.61%	8.32%	9.34%	5.26%	7.45%	9.82%	12.11%	11.67%	11.72%	7.76%
Cash Return on Invested Capital (CROIC)	26.15%	5.27%	-6.01%	26.98%	-85.17%	0.54%	-16.46%	27.17%	-45.45%	-2.95%	-44.69%
Operating Return on Assets (OROA)	1.38%	1.40%	1.36%	1.29%	0.82%	1.14%	1.24%	1.16%	1.03%	1.25%	0.96%
Return on Assets (ROA)	1.03%	1.04%	0.98%	1.11%	0.70%	0.94%	1.03%	0.99%	0.86%	1.01%	0.79%
Return on Common Equity (ROCE)	8.44%	8.61%	8.32%	9.34%	5.26%	7.45%	9.82%	12.11%	11.67%	11.72%	7.76%
Return on Equity Simple (ROE_SIMPLE)	8.22%	8.49%	8.06%	9.11%	3.73%	6.87%	9.94%	14.00%	10.87%	10.26%	6.05%
Net Operating Profit after Tax (NOPAT)	5.74	6.09	6.17	7.33	7.17	16	22	24	21	27	28
NOPAT Margin	22.03%	22.37%	21.74%	25.30%	19.41%	21.16%	27.61%	29.05%	26.32%	28.91%	17.42%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	54.64%	55.34%	55.41%	56.00%	58.73%	53.78%	53.24%	52.63%	54.56%	49.65%	44.73%
Operating Expenses to Revenue	70.12%	69.69%	68.14%	70.59%	77.09%	68.98%	66.29%	65.71%	68.17%	63.53%	69.70%
Earnings before Interest and Taxes (EBIT)	7.69	8.25	8.56	8.49	8.47	19	26	28	26	33	34
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	10	11	11	11	12	27	39	41	38	45	54
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.73	0.71	0.70	0.98	1.02	0.92	0.81	1.19	1.04	1.23	0.94
Price to Tangible Book Value (P/TBV)	0.91	0.87	0.85	1.18	1.47	1.29	1.14	1.90	1.52	1.60	1.44
Price to Revenue (P/Rev)	1.95	1.86	1.88	2.71	5.29	2.82	2.26	2.48	2.51	3.45	2.71
Price to Earnings (P/E)	8.86	8.31	8.65	10.71	27.25	13.35	8.19	8.52	9.55	11.94	15.58
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	3.07%	3.94%	3.77%	3.90%	3.06%	3.87%
Earnings Yield	11.29%	12.03%	11.56%	9.33%	3.67%	7.49%	12.21%	11.73%	10.48%	8.37%	6.42%
Enterprise Value to Invested Capital (EV/IC)	0.67	0.61	0.42	0.75	0.75	0.59	0.76	0.96	0.89	0.92	0.85
Enterprise Value to Revenue (EV/Rev)	2.32	2.06	1.55	2.21	4.58	1.92	2.93	2.98	4.74	4.69	4.11
Enterprise Value to EBITDA (EV/EBITDA)	5.95	5.16	3.99	6.07	14.58	5.31	6.00	5.92	10.08	9.54	12.29
Enterprise Value to EBIT (EV/EBIT)	7.87	6.79	5.13	7.55	19.97	7.48	8.82	8.78	14.98	13.09	19.43
Enterprise Value to NOPAT (EV/NOPAT)	10.53	9.20	7.12	8.74	23.58	9.05	10.60	10.27	18.02	16.21	23.57
Enterprise Value to Operating Cash Flow (EV/OCF)	15.20	5.13	5.43	6.44	18.37	16.66	6.20	5.48	8.27	8.91	20.88
Enterprise Value to Free Cash Flow (EV/FCFF)	2.29	11.64	0.00	2.51	0.00	111.59	0.00	3.19	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.30	0.28	0.36	0.07	0.17	0.05	0.38	0.50	1.20	0.81	0.67
Long-Term Debt to Equity	0.16	0.17	0.26	0.07	0.17	0.05	0.38	0.50	1.20	0.81	0.67
Financial Leverage	0.48	0.29	0.32	0.21	0.14	0.11	0.22	0.44	0.88	0.98	0.72
Leverage Ratio	8.21	8.30	8.46	8.39	7.54	7.88	9.55	12.17	13.61	11.62	9.83
Compound Leverage Factor	8.21	8.30	8.46	8.39	7.54	7.88	9.55	12.17	13.61	11.62	9.83
Debt to Total Capital	22.94%	21.99%	26.37%	6.11%	14.73%	5.18%	27.72%	33.55%	54.62%	44.73%	40.23%
Short-Term Debt to Total Capital	10.44%	8.61%	6.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	12.50%	13.38%	19.49%	6.11%	14.73%	5.18%	27.72%	33.55%	54.62%	44.73%	40.23%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	77.06%	78.01%	73.63%	93.89%	85.27%	94.82%	72.28%	66.45%	45.38%	55.27%	59.77%
Debt to EBITDA	2.04	1.86	2.49	0.50	2.86	0.47	2.18	2.08	6.20	4.64	5.79
Net Debt to EBITDA	0.94	0.50	-0.86	-1.37	-2.27	-2.52	1.37	1.01	4.74	2.51	4.17
Long-Term Debt to EBITDA	1.11	1.13	1.84	0.50	2.86	0.47	2.18	2.08	6.20	4.64	5.79
Debt to NOPAT	3.62	3.32	4.44	0.71	4.63	0.80	3.86	3.61	11.08	7.89	11.12
Net Debt to NOPAT	1.67	0.89	-1.53	-1.97	-3.68	-4.30	2.41	1.75	8.47	4.27	7.99
Long-Term Debt to NOPAT	1.97	2.02	3.29	0.71	4.63	0.80	3.86	3.61	11.08	7.89	11.12
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	26	4.81	-5.89	26	-132	1.27	-45	76	-156	-13	-279
Operating Cash Flow to CapEx	383.24%	600.71%	488.53%	236.63%	1,201.31%	457.78%	1,366.40%	3,808.16%	1,094.31%	2,851.47%	480.07%
Free Cash Flow to Firm to Interest Expense	26.67	4.97	-3.98	10.40	-28.18	0.27	-11.31	9.84	-4.71	-0.29	-4.24
Operating Cash Flow to Interest Expense	4.02	11.28	5.47	4.05	1.96	1.83	9.48	5.72	1.40	1.04	0.48
Operating Cash Flow Less CapEx to Interest Expense	2.97	9.40	4.35	2.34	1.79	1.43	8.79	5.57	1.27	1.01	0.38
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.05	0.05	0.05	0.04	0.04	0.04	0.04	0.03	0.03	0.03	0.05
Fixed Asset Turnover	2.20	2.23	2.23	2.02	1.84	2.74	2.69	2.80	2.79	3.25	4.30
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	91	92	104	86	225	240	307	254	431	471	779
Invested Capital Turnover	0.26	0.30	0.29	0.31	0.24	0.32	0.29	0.29	0.24	0.20	0.26
Increase / (Decrease) in Invested Capital	-21	1.28	12	-18	140	14	67	-53	177	40	307
Enterprise Value (EV)	60	56	44	64	169	141	234	243	383	433	664
Market Capitalization	51	51	53	79	195	208	180	202	203	319	439
Book Value per Share	$21.21	$21.89	$22.18	$22.26	$26.52	$29.16	$29.27	$22.47	$25.93	$29.07	$30.97
Tangible Book Value per Share	$16.93	$17.69	$18.20	$18.46	$18.39	$20.72	$20.83	$14.12	$17.74	$22.26	$20.26
Total Capital	91	92	104	86	225	240	307	254	431	471	779
Total Debt	21	20	27	5.23	33	12	85	85	236	211	313
Total Long-Term Debt	11	12	20	5.23	33	12	85	85	236	211	313
Net Debt	9.61	5.41	-9.42	-14	-26	-67	53	41	180	114	225
Capital Expenditures (CapEx)	1.04	1.82	1.66	4.21	0.77	1.85	2.76	1.16	4.23	1.71	6.63
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	21	20	27	5.23	33	12	85	85	236	211	313
Total Depreciation and Amortization (D&A)	2.48	2.61	2.45	2.08	3.13	7.71	12	13	12	12	20
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.75	$1.85	$1.79	$2.03	$1.58	$0.00	$2.87	$3.15	$2.82	$3.27	$2.02
Adjusted Weighted Average Basic Shares Outstanding	3.30M	3.28M	3.37M	3.62M	7.25M	0.00	7.52M	7.52M	7.55M	8.97M	14.98M
Adjusted Diluted Earnings per Share	$1.74	$1.85	$1.78	$2.02	$1.58	$0.00	$2.86	$3.15	$2.82	$3.25	$2.01
Adjusted Weighted Average Diluted Shares Outstanding	3.30M	3.28M	3.37M	3.62M	7.25M	0.00	7.52M	7.52M	7.55M	8.97M	14.98M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$1.58	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	3.30M	3.28M	3.37M	3.62M	7.25M	0.00	7.52M	7.52M	7.55M	8.97M	14.98M
Normalized Net Operating Profit after Tax (NOPAT)	5.74	6.09	6.17	7.33	7.17	16	22	24	21	28	42
Normalized NOPAT Margin	22.03%	22.37%	21.74%	25.30%	19.41%	21.16%	27.61%	29.05%	26.32%	29.82%	26.27%
Pre Tax Income Margin	29.50%	30.31%	30.15%	29.29%	22.91%	25.60%	33.19%	33.98%	31.65%	35.80%	21.14%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.77	8.52	5.79	3.45	1.80	4.07	6.66	3.57	0.77	0.71	0.52
NOPAT to Interest Expense	5.80	6.28	4.17	2.98	1.53	3.36	5.54	3.05	0.64	0.57	0.43
EBIT Less CapEx to Interest Expense	6.72	6.64	4.67	1.74	1.64	3.67	5.97	3.42	0.64	0.67	0.42
NOPAT Less CapEx to Interest Expense	4.75	4.41	3.05	1.27	1.36	2.96	4.85	2.90	0.51	0.54	0.33
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	37.79%	36.63%	37.68%	35.18%	81.09%	39.54%	32.66%	32.06%	37.20%	33.72%	60.15%
Augmented Payout Ratio	44.25%	49.67%	40.97%	42.32%	82.02%	39.54%	67.99%	34.94%	37.20%	33.72%	69.66%

This table displays calculated financial ratios and metrics derived from ChoiceOne Financial Services' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	7,537,998.00	7,545,094.00	7,552,919.00	7,571,112.00	8,957,495.00	-	8,968,784.00	14,984,253.00	15,015,000.00	15,023,732.00	14,981,917.00
DEI Adjusted Shares Outstanding	7,537,998.00	7,545,094.00	7,552,919.00	7,571,112.00	8,957,495.00	-	8,968,784.00	14,984,253.00	15,015,000.00	15,023,732.00	14,981,917.00
DEI Earnings Per Adjusted Shares Outstanding	0.68	0.70	0.75	0.87	0.82	-	-1.55	0.90	0.98	0.92	0.91
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-2.23%	-2.43%	-0.76%	14.70%	26.02%	18.16%	52.17%	90.72%	78.14%	76.38%	35.94%
EBITDA Growth	-8.26%	-12.62%	1.35%	19.81%	32.19%	25.52%	-240.96%	97.25%	92.78%	84.81%	254.79%
EBIT Growth	-9.71%	-16.80%	2.67%	30.75%	49.52%	36.44%	-357.20%	103.88%	97.63%	90.79%	194.81%
NOPAT Growth	-11.89%	-20.81%	0.02%	26.34%	43.46%	35.25%	-318.61%	105.50%	99.80%	93.70%	211.27%
Net Income Growth	-11.89%	-20.81%	0.02%	26.34%	43.46%	35.25%	-346.82%	105.50%	99.80%	93.70%	198.55%
EPS Growth	-11.69%	-21.35%	-1.33%	26.09%	25.00%	12.86%	-274.32%	3.45%	14.12%	81.01%	170.54%
Operating Cash Flow Growth	230.90%	-189.39%	67.02%	-1.61%	-122.87%	321.31%	-161.34%	-43.07%	307.91%	-39.99%	98.12%
Free Cash Flow Firm Growth	-369.89%	-389.89%	-175.59%	50.91%	55.18%	80.86%	-9.46%	-159.42%	-109.67%	-793.20%	55.33%
Invested Capital Growth	106.72%	69.65%	56.49%	22.83%	24.41%	9.28%	35.43%	47.44%	41.00%	65.25%	14.82%
Revenue Q/Q Growth	1.81%	3.37%	-0.37%	9.40%	11.85%	-3.07%	28.30%	37.11%	4.47%	-4.03%	-1.12%
EBITDA Q/Q Growth	0.07%	1.91%	3.92%	13.04%	10.42%	-3.23%	-216.71%	258.17%	7.92%	-7.23%	-2.25%
EBIT Q/Q Growth	-0.82%	3.98%	6.08%	19.51%	13.42%	-5.11%	-299.97%	194.74%	9.94%	-8.39%	-0.64%
NOPAT Q/Q Growth	-1.75%	3.34%	6.44%	16.90%	11.57%	-2.57%	-272.04%	209.89%	8.48%	-5.54%	-1.18%
Net Income Q/Q Growth	-1.75%	3.34%	6.44%	16.90%	11.57%	-2.57%	-294.25%	197.32%	8.48%	-5.54%	-1.18%
EPS Q/Q Growth	-1.45%	2.94%	5.71%	17.57%	-2.30%	-7.06%	-263.29%	169.77%	7.78%	47.42%	-36.36%
Operating Cash Flow Q/Q Growth	101.12%	-134.19%	241.17%	2.76%	-146.75%	474.42%	-140.16%	238.41%	70.73%	-8.24%	-101.26%
Free Cash Flow Firm Q/Q Growth	-24.14%	13.98%	8.19%	49.93%	-13.36%	63.27%	-425.08%	-18.66%	8.38%	-56.47%	73.74%
Invested Capital Q/Q Growth	5.87%	8.71%	4.91%	1.73%	7.23%	-4.51%	30.01%	10.75%	2.55%	11.91%	-9.66%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	46.92%	46.26%	48.25%	49.86%	49.22%	49.14%	-44.70%	51.56%	53.26%	51.49%	50.90%
EBIT Margin	31.12%	31.30%	33.33%	36.41%	36.92%	36.15%	-56.33%	38.92%	40.96%	39.10%	39.29%
Profit (Net Income) Margin	25.70%	25.69%	27.45%	29.33%	29.26%	29.41%	-44.52%	31.60%	32.81%	32.30%	32.28%
Tax Burden Percent	82.59%	82.07%	82.36%	80.55%	79.24%	81.36%	79.03%	81.19%	80.11%	82.60%	82.15%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	17.41%	17.93%	17.64%	19.45%	20.76%	18.64%	0.00%	18.81%	19.89%	17.40%	17.85%
Return on Invested Capital (ROIC)	7.10%	6.06%	5.97%	5.87%	5.83%	6.03%	-7.64%	6.86%	7.90%	8.36%	8.48%
ROIC Less NNEP Spread (ROIC-NNEP)	7.10%	6.06%	5.97%	5.87%	5.83%	6.03%	-8.38%	6.86%	7.90%	8.36%	8.48%
Return on Net Nonoperating Assets (RNNOA)	5.27%	5.33%	5.82%	6.57%	6.27%	5.90%	-5.70%	5.22%	5.57%	6.04%	3.96%
Return on Equity (ROE)	12.37%	11.39%	11.79%	12.44%	12.10%	11.92%	-13.34%	12.08%	13.47%	14.39%	12.45%
Cash Return on Invested Capital (CROIC)	-61.89%	-45.45%	-38.32%	-15.07%	-16.17%	-2.95%	-28.75%	-35.87%	-30.41%	-44.69%	-5.32%
Operating Return on Assets (OROA)	1.02%	1.02%	1.06%	1.19%	1.24%	1.26%	-1.67%	1.39%	1.67%	1.77%	1.56%
Return on Assets (ROA)	0.85%	0.84%	0.87%	0.96%	0.98%	1.03%	-1.32%	1.13%	1.34%	1.46%	1.28%
Return on Common Equity (ROCE)	12.37%	11.39%	11.79%	12.44%	12.10%	11.92%	-13.34%	12.08%	13.47%	14.39%	12.45%
Return on Equity Simple (ROE_SIMPLE)	12.50%	0.00%	10.28%	10.55%	10.03%	0.00%	1.68%	3.27%	4.77%	0.00%	11.87%
Net Operating Profit after Tax (NOPAT)	5.12	5.29	5.63	6.59	7.35	7.16	-12	14	15	14	14
NOPAT Margin	25.70%	25.69%	27.45%	29.33%	29.26%	29.41%	-39.43%	31.60%	32.81%	32.30%	32.28%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.74%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	57.49%	47.99%	52.54%	50.81%	46.24%	45.67%	45.77%	44.04%	43.64%	45.79%	45.24%
Operating Expenses to Revenue	68.88%	66.88%	66.67%	63.59%	61.39%	63.03%	114.19%	59.56%	58.59%	59.04%	60.71%
Earnings before Interest and Taxes (EBIT)	6.20	6.45	6.84	8.18	9.27	8.80	-18	17	18	17	17
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	9.35	9.53	9.90	11	12	12	-14	22	24	22	22
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.79	1.04	0.96	0.98	1.08	1.23	0.58	1.00	0.97	0.94	0.90
Price to Tangible Book Value (P/TBV)	1.20	1.52	1.37	1.37	1.43	1.60	0.94	1.58	1.49	1.44	1.36
Price to Revenue (P/Rev)	1.75	2.51	2.47	2.51	3.01	3.45	2.41	3.48	3.04	2.71	2.44
Price to Earnings (P/E)	6.29	9.55	9.36	9.24	10.74	11.94	34.55	30.42	20.26	15.58	7.55
Dividend Yield	5.50%	3.90%	4.02%	3.87%	3.62%	3.06%	3.97%	3.87%	3.87%	3.87%	4.05%
Earnings Yield	15.90%	10.48%	10.68%	10.82%	9.31%	8.37%	2.89%	3.29%	4.94%	6.42%	13.24%
Enterprise Value to Invested Capital (EV/IC)	0.54	0.89	0.65	0.77	0.74	0.92	0.48	0.77	0.84	0.85	0.81
Enterprise Value to Revenue (EV/Rev)	2.62	4.74	3.65	4.24	4.14	4.69	2.85	4.21	4.07	4.11	3.30
Enterprise Value to EBITDA (EV/EBITDA)	5.41	10.08	7.72	8.85	8.53	9.54	13.66	16.04	13.25	12.29	6.36
Enterprise Value to EBIT (EV/EBIT)	7.93	14.98	11.44	12.79	11.93	13.09	34.02	30.36	22.21	19.43	8.33
Enterprise Value to NOPAT (EV/NOPAT)	9.41	18.02	13.85	15.63	14.75	16.21	40.96	36.82	27.11	23.57	10.23
Enterprise Value to Operating Cash Flow (EV/OCF)	3.03	8.27	5.60	6.76	28.55	8.91	13.16	25.92	13.62	20.88	13.90
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.19	1.20	1.19	1.15	0.99	0.81	0.43	0.57	0.55	0.67	0.50
Long-Term Debt to Equity	1.19	1.20	1.19	1.15	0.99	0.81	0.43	0.57	0.55	0.67	0.50
Financial Leverage	0.74	0.88	0.97	1.12	1.08	0.98	0.68	0.76	0.71	0.72	0.47
Leverage Ratio	14.62	13.61	13.53	12.97	12.36	11.62	11.01	10.73	10.07	9.83	9.70
Compound Leverage Factor	14.62	13.61	13.53	12.97	12.36	11.62	11.01	10.73	10.07	9.83	9.70
Debt to Total Capital	54.32%	54.62%	54.29%	53.38%	49.79%	44.73%	30.28%	36.36%	35.38%	40.23%	33.18%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	54.32%	54.62%	54.29%	53.38%	49.79%	44.73%	30.28%	36.36%	35.38%	40.23%	33.18%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	45.68%	45.38%	45.71%	46.62%	50.21%	55.27%	69.72%	63.64%	64.62%	59.77%	66.82%
Debt to EBITDA	5.47	6.20	6.44	6.14	5.72	4.64	8.61	7.60	5.60	5.79	2.60
Net Debt to EBITDA	1.80	4.74	2.50	3.62	2.32	2.51	2.14	2.79	3.35	4.17	1.66
Long-Term Debt to EBITDA	5.47	6.20	6.44	6.14	5.72	4.64	8.61	7.60	5.60	5.79	2.60
Debt to NOPAT	9.51	11.08	11.55	10.85	9.88	7.89	25.81	17.45	11.46	11.12	4.18
Net Debt to NOPAT	3.12	8.47	4.49	6.39	4.01	4.27	6.41	6.40	6.85	7.99	2.67
Long-Term Debt to NOPAT	9.51	11.08	11.55	10.85	9.88	7.89	25.81	17.45	11.46	11.12	4.18
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-200	-172	-158	-79	-89	-33	-173	-205	-188	-294	-77
Operating Cash Flow to CapEx	2,589.94%	-1,409.87%	4,924.12%	3,257.97%	-2,907.51%	3,643.10%	-1,124.91%	431.71%	955.88%	662.92%	-11.61%
Free Cash Flow to Firm to Interest Expense	-19.81	-15.05	-13.18	-6.82	-7.82	-2.81	-12.64	-11.63	-10.97	-16.74	-4.63
Operating Cash Flow to Interest Expense	3.19	-0.96	1.28	1.36	-0.64	2.05	-0.69	0.51	0.89	0.80	-0.01
Operating Cash Flow Less CapEx to Interest Expense	3.07	-1.03	1.25	1.32	-0.67	2.00	-0.75	0.39	0.80	0.68	-0.10
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.04	0.04	0.05	0.04
Fixed Asset Turnover	2.78	2.79	2.83	2.96	3.13	3.25	2.84	3.38	3.91	4.30	3.72
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	397	431	452	460	493	471	613	678	696	779	703
Invested Capital Turnover	0.28	0.24	0.22	0.20	0.20	0.20	0.19	0.22	0.24	0.26	0.26
Increase / (Decrease) in Invested Capital	205	177	163	86	97	40	160	218	202	307	91
Enterprise Value (EV)	213	383	295	354	367	433	294	520	582	664	570
Market Capitalization	142	203	199	209	267	319	248	430	435	439	421
Book Value per Share	$24.03	$25.93	$27.37	$28.33	$27.66	$29.07	$47.62	$28.81	$29.94	$30.97	$31.37
Tangible Book Value per Share	$15.81	$17.74	$19.22	$20.22	$20.83	$22.26	$29.57	$18.13	$19.39	$20.26	$20.74
Total Capital	397	431	452	460	493	471	613	678	696	779	703
Total Debt	215	236	246	246	246	211	186	247	246	313	233
Total Long-Term Debt	215	236	246	246	246	211	186	247	246	313	233
Net Debt	71	180	95	145	100	114	46	90	147	225	149
Capital Expenditures (CapEx)	1.24	0.78	0.31	0.48	0.25	0.66	0.84	2.08	1.60	2.12	1.52
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	1.59	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	215	236	246	246	246	211	186	247	246	313	233
Total Depreciation and Amortization (D&A)	3.15	3.08	3.06	3.02	3.09	3.16	3.63	5.41	5.50	5.32	4.93
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.68	$0.70	$0.75	$0.87	$0.86	$0.79	($1.30)	$0.90	$0.98	$1.44	$0.91
Adjusted Weighted Average Basic Shares Outstanding	7.55M	7.55M	7.57M	8.96M	8.96M	8.97M	14.98M	15.02M	15.02M	14.98M	14.98M
Adjusted Diluted Earnings per Share	$0.68	$0.70	$0.74	$0.87	$0.85	$0.79	($1.29)	$0.90	$0.97	$1.43	$0.91
Adjusted Weighted Average Diluted Shares Outstanding	7.55M	7.55M	7.57M	8.96M	8.96M	8.97M	14.98M	15.02M	15.02M	14.98M	14.98M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	7.55M	7.55M	7.57M	8.96M	8.96M	8.97M	14.98M	15.02M	15.02M	14.98M	14.98M
Normalized Net Operating Profit after Tax (NOPAT)	5.12	5.29	5.63	6.59	7.86	7.16	-0.27	14	15	14	14
Normalized NOPAT Margin	25.70%	25.69%	27.45%	29.33%	31.29%	29.41%	-0.88%	31.92%	32.81%	32.30%	32.28%
Pre Tax Income Margin	31.12%	31.30%	33.33%	36.41%	36.92%	36.15%	-56.33%	38.92%	40.96%	39.10%	39.29%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.62	0.57	0.57	0.71	0.81	0.75	-1.29	0.95	1.07	0.96	1.00
NOPAT to Interest Expense	0.51	0.46	0.47	0.57	0.64	0.61	-0.90	0.77	0.86	0.79	0.82
EBIT Less CapEx to Interest Expense	0.49	0.50	0.55	0.66	0.79	0.70	-1.35	0.83	0.98	0.84	0.91
NOPAT Less CapEx to Interest Expense	0.39	0.40	0.45	0.53	0.62	0.56	-0.96	0.65	0.76	0.67	0.73
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	34.55%	37.20%	37.60%	35.70%	34.35%	33.72%	155.35%	94.26%	70.38%	60.15%	30.64%
Augmented Payout Ratio	34.55%	37.20%	37.60%	35.70%	34.35%	33.72%	184.00%	94.26%	70.38%	69.66%	34.34%

Financials Breakdown Chart

Key Financial Trends

ChoiceOne Financial Services (NASDAQ: COFS) continued to show solid profitability in Q1 2026, but the bigger picture over the last four years shows a bank that has grown meaningfully while also taking on more balance sheet leverage and a much larger goodwill/intangible footprint after acquisitions.

In Q1 2026, COFS generated $13.7 million in net income, or $0.91 per share, on $42.5 million of revenue. That was slightly below Q4 2025 net income of $13.9 million, but still far above the earnings levels the company posted in early 2024. The quarter also showed a very tight spread environment: net interest income was $36.6 million, while non-interest income contributed $5.8 million.

The most notable trend is that earnings recovered sharply from early 2024. In Q1 2024, COFS reported a net loss of $13.9 million, driven by a large restructuring charge and heavy credit-loss provision. Since then, quarterly profitability has normalized and improved, with several quarters in the $13 million to $15 million range in 2025 and Q1 2026.

Revenue has also grown over the period. Quarterly total revenue increased from about $20.5 million in Q1 2024 to $42.5 million in Q1 2026. Much of that improvement came from stronger net interest income and, at times, higher non-interest income. However, growth has not been perfectly linear; there were weaker quarters in 2024, and the business still appears sensitive to deposit costs, debt costs, and non-core items.

On the balance sheet, COFS has expanded substantially. Total assets rose from about $2.67 billion in Q1 2024 to $4.39 billion in Q1 2026. Loans and leases also climbed meaningfully, reaching $2.93 billion in Q1 2026 from $1.39 billion in Q1 2024. That suggests a much larger banking franchise, likely reflecting acquisition-related growth.

At the same time, the balance sheet also shows higher leverage and more acquisition-related assets. Total liabilities increased to $3.92 billion, and equity rose to $470.0 million, but tangible quality is harder to judge because COFS carries $129.9 million of goodwill and $29.5 million of intangible assets in Q1 2026.

Cash flow has been more mixed than earnings. In Q1 2026, operating cash flow was slightly negative at -$177,000, compared with positive operating cash flow in several prior periods. Investing activity remained heavily influenced by securities purchases and maturities, while financing cash flow was negative due to deposit changes, debt moves, dividends, and share repurchases.

Key positives include better profitability than a year ago, a larger earning asset base, and a solid dividend-paying profile. Key watch items are the size of non-interest expenses, the reliance on deposit funding, and the elevated goodwill/intangible balance, which can matter if future integration or credit conditions weaken.

Strong earnings recovery: COFS moved from a Q1 2024 loss to Q1 2026 net income of $13.7 million.
Revenue nearly doubled over two years: Quarterly revenue rose from $20.5 million in Q1 2024 to $42.5 million in Q1 2026.
Loan portfolio expanded significantly: Net loans and leases increased to $2.90 billion from $1.37 billion in Q1 2024.
Net interest income improved materially: Q1 2026 net interest income of $36.6 million was much higher than early-2024 levels.
Provision expense stabilized: Credit-loss provision was $0 in Q1 2026 after a much more volatile 2024 period.
Shareholder returns remain active: The company continued paying a quarterly dividend of $0.29 per share.
Operating cash flow was weak in Q1 2026: Cash from operations was slightly negative at -$177,000.
Balance sheet leverage remains significant: Liabilities were $3.92 billion versus equity of $470.0 million.
Acquisition-related assets are large: Goodwill and intangibles totaled about $159.3 million in Q1 2026.
Deposit and funding costs remain a pressure point: Interest expense on deposits remains a major cost of doing business.

Bottom line: COFS looks much healthier than it did in early 2024, with stronger earnings and a much larger balance sheet. Still, investors should watch the company’s funding costs, cash flow consistency, and the quality of its acquisition-driven asset base.

07/06/26 07:35 AM ETAI Generated. May Contain Errors.

ChoiceOne Financial Services Financials - Frequently Asked Questions

According to the most recent income statement we have on file, ChoiceOne Financial Services' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

ChoiceOne Financial Services' net income appears to be on an upward trend, with a most recent value of $28.18 million in 2025, rising from $5.74 million in 2015. The previous period was $26.73 million in 2024. See ChoiceOne Financial Services' forecast for analyst expectations on what's next for the company.

Over the last 10 years, ChoiceOne Financial Services' total revenue changed from $26.06 million in 2015 to $161.74 million in 2025, a change of 520.5%.

ChoiceOne Financial Services' total liabilities were at $3.95 billion at the end of 2025, a 60.2% increase from 2024, and a 692.4% increase since 2015.

In the past 10 years, ChoiceOne Financial Services' cash and equivalents has ranged from $11.19 million in 2015 to $96.40 million in 2024, and is currently $87.64 million as of their latest financial filing in 2025.

Over the last 10 years, ChoiceOne Financial Services' book value per share changed from 21.21 in 2015 to 30.97 in 2025, a change of 46.0%.

Related Companies

Financial statements for NASDAQ:COFS last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Unlock superior investment research and tools.

Get MarketBeat All Access

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

ChoiceOne Financial Services (COFS) Financials

Financials Breakdown Chart

Key Financial Trends

ChoiceOne Financial Services Financials - Frequently Asked Questions

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

ChoiceOne Financial Services (COFS) Financials

Annual Income Statements for ChoiceOne Financial Services

Quarterly Income Statements for ChoiceOne Financial Services

Annual Cash Flow Statements for ChoiceOne Financial Services

Quarterly Cash Flow Statements for ChoiceOne Financial Services

Annual Balance Sheets for ChoiceOne Financial Services

Quarterly Balance Sheets for ChoiceOne Financial Services

Annual Metrics And Ratios for ChoiceOne Financial Services

Quarterly Metrics And Ratios for ChoiceOne Financial Services

Financials Breakdown Chart

Key Financial Trends

ChoiceOne Financial Services Financials - Frequently Asked Questions

When does ChoiceOne Financial Services' fiscal year end?

How has ChoiceOne Financial Services' net income changed over the last 10 years?

How has ChoiceOne Financial Services' revenue changed over the last 10 years?

How much debt does ChoiceOne Financial Services have?

How much cash does ChoiceOne Financial Services have?

How has ChoiceOne Financial Services' book value per share changed over the last 10 years?

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools