CHOICEONE FINANCIAL SERVICES INC
For the period ended Sep 30, 2025. Filed Nov 10, 2025.
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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, 2025 · Filed Nov 10, 2025
COFS$37.29+1.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
CONSOLIDATED BALANCE SHEETS(September 30, 2025 Unaudited)
| September 30, | December 31, | |
|---|---|---|
| (Dollars in thousands, except share data) | 2025 | 2024 |
| Assets | ||
| Cash and due from banks | $97,885 | $96,401 |
| Time deposits in other financial institutions | 1,093 | 350 |
| Cash and cash equivalents | 98,978 | 96,751 |
| Equity securities, at fair value (Note 2) | 9,505 | 7,782 |
| Securities available for sale, at fair value (Note 2) | 544,023 | 479,117 |
| Securities held to maturity, at amortized cost net of credit losses (Note 2) | 388,517 | 394,534 |
| Federal Home Loan Bank stock | 18,562 | 9,383 |
| Federal Reserve Bank stock | 12,554 | 5,307 |
| Loans held for sale | 6,323 | 7,288 |
| Loans to other financial institutions (Note 3) | 2,483 | 39,878 |
| Core loans (Note 3) | 2,907,445 | 1,505,762 |
| Total loans held for investment (Note 3) | 2,909,928 | 1,545,640 |
| Allowance for credit losses (Note 3) | (34,754) | (16,552) |
| Loans, net | 2,875,174 | 1,529,088 |
| Premises and equipment, net | 46,159 | 27,099 |
| Other real estate owned, net | 2,575 | 473 |
| Cash value of life insurance policies | 74,231 | 44,896 |
| Goodwill | 126,730 | 59,946 |
| Intangible assets | 31,694 | 1,096 |
| Other assets | 61,877 | 60,483 |
| Total assets | $4,296,902 | $2,723,243 |
| Liabilities | ||
| Deposits – noninterest-bearing | $903,925 | $524,945 |
| Deposits – interest-bearing demand deposits | 1,395,724 | 920,167 |
| Savings deposits | 588,798 | 338,109 |
| Certificates of deposit | 605,912 | 394,371 |
| Brokered deposits | 72,672 | 36,511 |
| Total deposits | 3,567,031 | 2,214,103 |
| Borrowings | 197,752 | 175,000 |
| Subordinated debentures | 48,368 | 35,752 |
| Other liabilities | 34,136 | 37,973 |
| Total liabilities | 3,847,287 | 2,462,828 |
| Shareholders' Equity | ||
| Preferred stock; shares authorized: 100,000; shares outstanding: none | - | - |
| Common stock and paid-in capital, no par value; shares authorized: 30,000,000; shares outstanding: 15,017,802 at September 30, 2025 and 8,965,483 at December 31, 2024 | 398,688 | 206,780 |
| Retained earnings | 93,124 | 91,414 |
| Accumulated other comprehensive loss, net | (42,197) | (37,779) |
| Total shareholders’ equity | 449,615 | 260,415 |
| Total liabilities and shareholders’ equity | $4,296,902 | $2,723,243 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.