Welcome to our dedicated page for Choiceone Finl Svcs news (Ticker: COFS), a resource for investors and traders seeking the latest updates and insights on Choiceone Finl Svcs stock.
ChoiceOne Financial Services Inc. (NASDAQ: COFS) delivers community-focused banking solutions across Michigan through its subsidiary ChoiceOne Bank. This news hub provides investors and stakeholders with timely updates on financial developments, strategic initiatives, and market positioning for this established regional institution.
Access official press releases and curated analysis covering earnings reports, merger activities, and operational updates. Our collection includes details on COFS's lending practices, interest rate management strategies, and expansion efforts like the pending Fentura Financial merger that will significantly enhance its Michigan footprint.
Key coverage areas include quarterly financial results, leadership changes, product launches, and community impact initiatives. The page serves as a centralized resource for tracking COFS's performance in commercial lending, treasury services, and insurance offerings while maintaining compliance with financial disclosure standards.
Bookmark this page for ongoing access to verified information about ChoiceOne's market position, risk management approaches, and growth strategies. Check back regularly for updates that matter to informed investment decisions and regional economic analysis.
ChoiceOne Financial Services (NASDAQ: COFS) has successfully completed the consolidation of The State Bank into ChoiceOne Bank on March 14, 2025. This follows the March 1, 2025 merger of Fentura with ChoiceOne, creating a financial holding company with over $4 billion in assets and 56 offices across West, Central and Southeast Michigan.
Former Fentura CEO Ronald Justice, who will retire in April after serving since 2012, highlighted the merger's benefits for stakeholders and emphasized the natural geographical and cultural fit. Several senior officers from The State Bank will continue their employment with ChoiceOne Bank in various executive positions.
The consolidation, which took eight months to complete, aims to create efficiencies and new growth opportunities in Michigan's expanded network while maintaining seamless customer service.
ChoiceOne Financial Services (NASDAQ: COFS) has completed its merger with Fentura Financial effective March 1, 2025. The combined organization emerges as a significant bank holding company with over $4 billion in assets and 56 offices across Michigan.
The merged entity will be headquartered in Sparta, Michigan, with The State Bank's consolidation into ChoiceOne Bank scheduled for March 14, 2025. The consolidated bank will operate under the ChoiceOne name and brand, expanding its community bank franchise into Central and Southeastern Michigan.
The merger enhances ChoiceOne's commercial and consumer lending capabilities while advancing technological offerings. The combined organization aims to provide an extensive range of products and services through an enhanced retail network, including digital and branch banking solutions.
ChoiceOne Financial Services (NASDAQ: COFS) has declared a quarterly cash dividend of $0.28 per share for the first quarter of 2025. The dividend will be paid on March 31, 2025, to shareholders of record as of March 14, 2025.
This dividend maintains parity with the Q4 2024 payment and represents a $0.01 increase compared to Q1 2024. ChoiceOne operates through its subsidiary ChoiceOne Bank, with 36 offices across various Michigan counties, including Kent, Lapeer, Macomb, Muskegon, Newaygo, Ottawa, and St. Clair.
ChoiceOne Financial Services (NASDAQ: COFS) has received regulatory approval from the Federal Reserve System for its merger with Fentura Financial (OTCQX: FETM). The merger will create a combined organization headquartered in Sparta, Michigan, operating under the ChoiceOne name and brand. The transaction is expected to be effective on March 1, 2025, with bank consolidation following on March 14, 2025.
The merger will expand ChoiceOne's presence into several Michigan counties including Genesee, Jackson, Livingston, Ingham, Saginaw, Shiawassee, and Bay. Post-merger, ChoiceOne will become a $4.3 billion-asset bank holding company with 56 offices across West and Southeastern Michigan.
ChoiceOne Financial Services (NASDAQ:COFS) reported strong financial results for Q4 and full-year 2024. Net income reached $7.16 million in Q4 (up 35.3% YoY) and $26.73 million for 2024 (up 25.7% YoY). Core loans grew by $40.3 million in Q4 and $114.5 million for the year.
The company's GAAP net interest margin was 2.98% in Q4 2024, down from 3.17% in Q3 but up from 2.66% in Q4 2023. Deposits excluding brokered deposits increased by $79 million (3.8%) during 2024, despite a Q4 seasonal decline. Asset quality remained strong with only 0.27% nonperforming loans.
The company completed a stock sale of 1,380,000 shares in Q3 2024, raising $34.5 million. ChoiceOne maintains a strong capital position with a total risk-based capital ratio of 12.7%. The company is preparing for its pending merger with Fentura Financial and The State Bank, expected to close in Q1 2025.
ChoiceOne Financial Services (NASDAQ: COFS) and Fentura Financial shareholders have approved their merger at special meetings held on December 12, 2024. Fentura will merge into ChoiceOne, with the combined organization operating under the ChoiceOne name and headquartered in Sparta, Michigan. The merger will create a $4.3 billion-asset bank holding company with 56 offices across West and Southeastern Michigan, becoming the 3rd largest publicly traded bank holding company headquartered in Michigan. The transaction is expected to close in Q1 2025, pending regulatory approvals and customary closing conditions.
ChoiceOne Financial Services (NASDAQ: COFS) has declared a quarterly cash dividend of $0.28 per share, payable on December 31, 2024, to shareholders of record as of December 13, 2024. This represents a $0.01 increase from both the previous quarter and the same quarter last year.
The company operates through ChoiceOne Bank with 36 offices across various Michigan counties, including Kent, Lapeer, Macomb, Muskegon, Newaygo, Ottawa, and St. Clair. Additionally, it provides insurance and investment products through its subsidiary, ChoiceOne Insurance Agencies.
ChoiceOne Financial Services (NASDAQ:COFS) reported strong Q3 2024 results with net income of $7.3 million, up 43.5% from Q3 2023. Core loans grew organically by $64.5 million (18.4% annualized) in Q3, while deposits increased by $102.1 million (19.5% annualized). The company's net interest margin improved to 3.17%, up from 2.95% in Q2 2024. Notable developments include a definitive merger agreement with Fentura Financial and completion of a $34.5 million public offering of common stock. Asset quality remains strong with nonperforming loans at 0.19% of total loans.
ChoiceOne Financial Services, Inc. and ChoiceOne Bank (NASDAQ: COFS) have been awarded the 2023 Lender of the Year Award by the Michigan Certified Development (MCDC). Additionally, Brad Bissett, Vice President and Commercial Loan Officer, received the 2023 Individual Lender of the Year award.
ChoiceOne's SBA department, led by Aaron Griffin, was recognized for its excellence in the SBA 504 Loan Program, demonstrating innovation and client service. The bank was acknowledged for completing the most SBA 504 loans with MCDC in 2023, totaling four loans. Earlier in the year, ChoiceOne was also honored as the SBA Michigan District 504 Third Party Lender of the Year, having made seven SBA 504 Loans totaling nearly $7 million.
ChoiceOne Financial Services, Inc. and ChoiceOne Bank (NASDAQ: COFS) have been awarded a Gold Award from dotCOMM for their website redesign, recognizing excellence in web creativity and digital communication. The award, evaluated by the Association of Marketing and Communication Professionals (AMCP), places ChoiceOne among top global companies in digital innovation.
ChoiceOne President Michael J. Burke, Jr. emphasized the bank's commitment to providing innovative services and technology, balancing high-speed convenience with personal relationships through their branch network. The redesigned website, part of ChoiceOne's 125th Anniversary initiatives, was developed to intuitively assist customers with their financial needs, aligning with the bank's mission of superior service and quality advice.
