CHOICEONE FINANCIAL SERVICES INC
For the period ended Jun 30, 2025. Filed Aug 8, 2025.
View on SEC.govAbout 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.
Jun 30, 2025 · Filed Aug 8, 2025
COFS$36.74-1.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements Of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
| Six Months Ended | ||
|---|---|---|
| (Dollars in thousands) | June 30, | |
| 2025 | 2024 | |
| Cash flows from operating activities: | ||
| Net (loss) income | $(372) | $12,220 |
| Adjustments to reconcile net income to net cash from operating activities: | ||
| (Reversal of) provision for credit losses | 13,813 | - |
| Depreciation | 1,529 | 1,272 |
| Amortization | 7,518 | 4,810 |
| Accretion | (6,413) | - |
| Compensation expense on employee stock purchase plan, stock options, and restricted stock units | 382 | 576 |
| Net change in market value of equity securities | (346) | 36 |
| Gains on sales of loans | (799) | (979) |
| Loans originated for sale | (25,905) | (29,067) |
| Proceeds from loan sales | 26,033 | 28,400 |
| Earnings on bank-owned life insurance | (930) | (604) |
| Earnings on death benefit from bank-owned life insurance | (303) | (196) |
| (Gains)/losses on sales of other real estate owned | (46) | - |
| Write downs of OREO | 34 | - |
| Deferred federal income tax (benefit)/expense | (554) | 231 |
| Net change in: | ||
| Other assets | (411) | 794 |
| Other liabilities | (10,744) | 13,557 |
| Net cash (used in) provided by operating activities | 2,486 | 31,050 |
| Cash flows from investing activities: | ||
| Sales of securities available for sale | 78,856 | - |
| Maturities, prepayments and calls of securities available for sale | 15,417 | 17,962 |
| Maturities, prepayments and calls of securities held to maturity | 9,325 | 15,086 |
| Purchases of securities available for sale | (13,560) | (768) |
| Purchases of equity securities | (90) | (33) |
| Purchases of securities held to maturity | (2,610) | (700) |
| Purchase of Federal Home Loan Bank stock | - | (1) |
| Purchase of Federal Reserve Bank stock | (7,239) | - |
| Loan originations and payments, net | 11,571 | (27,232) |
| Proceeds from bank owned life insurance death benefits claim | 940 | 490 |
| Additions to premises and equipment | (2,910) | (794) |
| Proceeds from sales of other real estate owned | 621 | - |
| Proceeds from derivative contracts settlements | 3,636 | - |
| Issuance costs | (8) | - |
| Cash received from merger with Fentura Financial, Inc. | 173,082 | - |
| Net cash provided by (used in) investing activities | 267,031 | 4,010 |
| Cash flows from financing activities: | ||
| Net change in deposits | (53,360) | 4,624 |
| Net change in short term borrowings | (146,501) | 10,073 |
| Issuance of common stock | 432 | 115 |
| Repurchase of shares from Fentura Financial, Inc. ESOP | (1,837) | - |
| Share based compensation withholding obligation | (327) | (220) |
| Cash dividends | (8,395) | (4,083) |
| Net cash provided by (used in) financing activities | (209,988) | 10,509 |
| Net change in cash and cash equivalents | 59,529 | 45,569 |
| Beginning cash and cash equivalents | 96,751 | 55,433 |
| Ending cash and cash equivalents | $156,280 | $101,002 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid for interest | $29,084 | $24,686 |
| Cash paid for income taxes | 2,840 | 2,750 |
| Noncash transactions: | ||
| Loans transferred to other real estate | 843 | 150 |
|---|---|---|
| Acquisition of assets from merger, net of cash | 1,578,547 | - |
| Acquisition of liabilities from merger | 1,625,421 | - |
| Issuance of common stock as consideration for merger | 192,770 | - |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.