CHOICEONE FINANCIAL SERVICES INC

For the period ended Sep 30, 2024. Filed Nov 8, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Nov 8, 2024

COFS$36.69-0.2%Stored close · as of Nov 6, 2026

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Contents

Consolidated Statements Of Changes In Shareholders’ Equity

CONSOLIDATED STATEMENTSOF CHANGES IN SHAREHOLDERS’ EQUITY (Unaudited)

For the nine months ended September 30,

Accumulated
Common · Other
Stock and · Comprehensive
Number of · Paid in · Retained · Income/(Loss),
(Dollars in thousands, except per share data) · Shares · Capital · Earnings · Net · Total
Balance, January 1, 2023	7,516,098	$172,277		$60,348	$(71,797)	$160,828
Net income				15,968			15,968
Other comprehensive income (loss)					9,327		9,327
Shares issued	25,089		428					428
Effect of employee stock purchases		23					23
Stock-based compensation expense		459					459
Cash dividends declared ($0.78 per share)				(5,872)			(5,872)
Balance, September 30, 2023	7,541,187	$173,187		$70,444	$(62,470)	$181,161
Balance, January 1, 2024	7,548,217	$173,513		$73,699	$(51,578)	$195,634
Net income				19,568			19,568
Other comprehensive income (loss)					6,132		6,132
Shares issued	30,435		280					280
Effect of employee stock purchases		33					33
Stock options exercised and issued (1)	1,012						-
Stock-based compensation expense		508					508
Common stock offering	1,380,000		32,093					32,093
Cash dividends declared ($0.81 per share)				(6,502)			(6,502)
Balance, September 30, 2024	8,959,664	$206,427		$86,765	$(45,446)	$247,746

(1) The amount shown represents the number of shares issued in net exercise transactions where shares were surrendered in payment of taxes and/or payment of all or part of the exercise price.

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (Unaudited)

For the three months ended September 30,

Accumulated
Common · Other
Stock and · Comprehensive
Number of · Paid in · Retained · Income/(Loss),
(Dollars in thousands, except per share data) · Shares · Capital · Earnings · Net · Total
Balance, July 1, 2023	7,534,658	$172,880		$67,281	$(60,921)	$179,240
Net income				5,122			5,122
Other comprehensive income (loss)					(1,549)		(1,549)
Shares issued	6,529		131					131
Effect of employee stock purchases		9					9
Stock-based compensation expense		167					167
Cash dividends declared ($0.26 per share)				(1,959)			(1,959)
Balance, September 30, 2023	7,541,187	$173,187		$70,444	$(62,470)	$181,161
Balance, July 1, 2024	7,573,618	$173,984		$81,836	$(41,301)	$214,519
Net income				7,348			7,348
Other comprehensive income (loss)					(4,145)		(4,145)
Shares issued	5,914		165					165
Effect of employee stock purchases		11					11
Stock options exercised and issued (1)	132						—
Stock-based compensation expense		174					174
Common stock offering	1,380,000		32,093					32,093
Cash dividends declared ($0.27 per share)				(2,419)			(2,419)
Balance, September 30, 2024	8,959,664	$206,427		$86,765	$(45,446)	$247,746

(1) The amount shown represents the number of shares issued in net exercise transactions where shares were surrendered in payment of taxes and/or payment of all or part of the exercise price.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.