ChoiceOne Financial Services, Inc.
- Open
- 33.42
- Day high
- 34.09
- Day low
- 33.42
- Prev close
- 33.93
- Volume
- 123K
- Mkt cap
- $508M
- P/E (TTM)
- 9.1
- EPS (TTM)
- $3.71
- P/B
- 1.1
- P/S
- 2.1
- Yield
- 3.39%
- Per share
- $1.15
ChoiceOne Financial Services, Inc. (COFS) is a Financial Services company listed on NASDAQ. The stock is up 16% over the past year.
ChoiceOne Financial Services, Inc. (COFS) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
COFS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 24, 2026 | $0.85 | $0.91 | +7.1% | $42M | -0.6% |
| Mar 13, 2026 | — | $0.92 | — | $60M | — |
| Oct 24, 2025 | $0.86 | $0.97 | +12.8% | $45M | +2.1% |
| Jul 25, 2025 | $0.80 | $0.91 | +13.7% | $43M | +1.0% |
| Apr 30, 2025 | $0.82 | $0.86 | +4.9% | $45M | +3.2% |
| Mar 11, 2025 | — | $0.84 | — | $36M | — |
| Oct 23, 2024 | $0.74 | $0.85 | +14.9% | $25M | +9.7% |
| Jul 25, 2024 | $0.76 | $0.87 | +14.5% | $34M | — |
| Mar 13, 2024 | — | $0.70 | — | $32M | — |
| Oct 25, 2023 | $0.67 | $0.68 | +1.5% | $30M | — |
| Jul 26, 2023 | — | $0.69 | — | $27M | — |
| Mar 23, 2023 | — | $0.89 | — | $24M | — |
COFS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 6, 2026 | Armock Greg L.director | Grant | 489 | $34.00 |
| Jul 6, 2026 | McGinnis Bradley F.director | Grant | 489 | $34.00 |
| Jul 6, 2026 | Wendling Michelle Mdirector | Grant | 202 | $34.00 |
| Jul 6, 2026 | Burrough Eric Edirector | Grant | 489 | $34.00 |
| Jul 6, 2026 | McConnell Gregory Adirector | Grant | 202 | $34.00 |
| Jul 6, 2026 | Coulter Curt Edirector | Grant | 202 | $34.00 |
| Jul 6, 2026 | Burns Harold Jdirector | Grant | 489 | $34.00 |
| Jul 6, 2026 | Brophy Keith D.director | Grant | 345 | $34.00 |
| Jul 6, 2026 | Krause Steven Theodoredirector | Grant | 489 | $34.00 |
| Jul 6, 2026 | Hicks Randy Ddirector | Grant | 489 | $34.00 |
| Jul 6, 2026 | Page Roxanne Mdirector | Grant | 202 | $34.00 |
| Jul 6, 2026 | Essex Bruce John Jrdirector | Grant | 202 | $34.00 |
| Jul 6, 2026 | PETTY BRIAN Pdirector | Grant | 489 | $34.00 |
| May 4, 2026 | Greenland Adomofficer: Secretary | Grant | 1,506 | — |
| May 4, 2026 | Potes Kellydirector, officer: Chief Executive Officer | Grant | 4,416 | — |
Source: COFS SEC Form 4 filings, latest Jul 6, 2026. For informational purposes only — not investment advice.
See the full COFS insider & 13F page →ChoiceOne Financial Services, Inc. company profile
Overview
ChoiceOne Financial Services, Inc. (NASDAQ:COFS) is a regional bank holding company founded in 1898 and headquartered in Sparta, Michigan. The company operates through its wholly-owned subsidiary, ChoiceOne Bank, providing traditional community banking services across seven counties in Michigan. With over 125 years of banking history, ChoiceOne has grown from a local institution to a regional player operating 32 full-service banking offices and three loan production offices throughout Kent, Muskegon, Newaygo, Ottawa, Lapeer, Macomb, and St. Clair counties in Michigan.
Business
ChoiceOne Financial Services operates in the regional banking industry, serving as a traditional community bank that provides comprehensive financial services to individuals, businesses, and organizations within its Michigan market footprint. The banking industry acts as a financial intermediary, accepting deposits from customers and lending those funds to borrowers while earning a profit on the interest rate spread. The company's core services fall into several key categories. Deposit products include traditional savings accounts, checking accounts, time deposits (certificates of deposit), and money market accounts, along with safe deposit box services and automated teller machine access. These deposit accounts serve as the bank's primary funding source, as customers place their money with the bank in exchange for interest payments and banking convenience. Commercial lending represents a significant portion of the bank's business, encompassing loans to businesses for working capital, equipment purchases, real estate acquisition, construction projects, agricultural operations, and inventory financing. These loans typically carry higher interest rates than consumer loans due to their larger size and complexity. Consumer lending includes both direct loans made by the bank and indirect loans originated through partnerships with auto dealers and other third parties. This segment covers residential mortgages, home equity loans, personal loans, and auto financing for individual consumers. The company also provides ancillary financial services including wealth management through alternative investment products such as annuities and mutual funds, as well as insurance sales covering life and health policies for both commercial and consumer clients. These fee-based services provide additional revenue streams beyond traditional interest income.
Revenue model
ChoiceOne Financial Services operates on the traditional banking business model, primarily generating revenue through net interest income - the difference between interest earned on loans and investments and interest paid on deposits and borrowed funds. This spread typically represents 70-80% of total revenue for regional banks. The bank's paying customers include individual consumers seeking personal banking services, small to medium-sized businesses requiring commercial banking solutions, and agricultural enterprises needing specialized lending products. Commercial customers generally provide higher-margin opportunities due to larger loan sizes and more complex service needs. Non-interest income supplements the core interest-based revenue through service fees, loan origination fees, wealth management commissions, insurance sales commissions, and various banking service charges. Based on recent financial performance, the company generated approximately $92.4 million in total revenue for 2024, with the majority coming from interest income on loans and securities. Several factors significantly impact the bank's profitability margins. Interest rate environment changes directly affect both funding costs and loan pricing, with rising rates generally benefiting banks initially through higher loan yields before deposit costs catch up. Credit quality fluctuations can dramatically impact profitability through loan loss provisions, particularly during economic downturns when borrowers may struggle to repay loans. Competition from larger national banks, credit unions, and fintech companies can pressure both deposit rates and loan pricing. Regulatory compliance costs continue to increase for all banks, disproportionately affecting smaller institutions. Economic conditions in the bank's Michigan markets directly influence loan demand and credit losses, making the institution sensitive to regional economic performance.
Competitive moat
ChoiceOne Financial Services possesses a modest competitive moat typical of community banks, primarily derived from local market relationships and geographic convenience. The company's 125-year operating history in Michigan provides established customer relationships and local market knowledge that larger national banks may struggle to replicate. Community banks often benefit from superior customer service and decision-making speed compared to larger institutions, as loan approvals and banking decisions can be made locally rather than through distant corporate headquarters. However, this moat faces significant challenges and limitations. The banking industry operates as a commodity business where products are largely standardized, making differentiation difficult beyond service quality and convenience. Technology disruption poses an increasing threat, as fintech companies and digital-first banks offer more convenient services without the overhead of physical branch networks. Scale disadvantages become apparent in technology investments, regulatory compliance costs, and funding costs, where larger banks can spread fixed expenses across a broader customer base. Competitive pressures come from multiple directions: large national banks with superior technology platforms and marketing budgets, credit unions offering tax-advantaged pricing, and online banks providing higher deposit rates without geographic constraints. The bank's dependence on the Michigan economy creates concentration risk, as regional economic downturns could simultaneously impact loan demand, credit quality, and deposit growth. The regulatory environment continues to increase compliance burdens disproportionately affecting smaller banks, while consolidation trends in the banking industry suggest that scale advantages are becoming more important over time. ChoiceOne's moat should be considered narrow and potentially weakening, requiring continuous investment in technology and customer relationships to maintain competitive position.
Risks & safety
ChoiceOne Financial Services presents moderate financial safety with some concerning recent developments requiring careful monitoring. • Solvency concerns: The company reported a significant net loss of $13.9 million in Q1 2025, representing a dramatic reversal from consistent profitability in prior periods • Cash flow deterioration: Operating cash flow turned negative at -$6.5 million in Q1 2025, compared to positive $48.6 million for full year 2024 • Debt levels: Debt-to-equity ratio of 4.3% remains very low, indicating minimal leverage risk • Liquidity position: Cash and short-term investments of $137.1 million provide reasonable liquidity buffer • Valuation metrics: Trading at 0.55x book value and negative P/E ratio due to recent losses, suggesting potential value opportunity if losses prove temporary • Asset quality: Total assets of $4.3 billion with loans representing the majority; credit quality metrics not provided but regional bank exposure to local economic conditions creates inherent risk • Capital adequacy: As a regulated bank, subject to minimum capital requirements, though specific regulatory ratios not disclosed in available data
Recent development
Based on the available financial data spanning 2022-2025, ChoiceOne Financial Services has experienced significant operational changes, though detailed strategic information is limited due to the absence of earnings call transcripts. The most notable development has been the dramatic shift in financial performance during the first quarter of 2025, when the company reported a substantial net loss of $13.9 million compared to consistent profitability in previous periods. The company's balance sheet expansion has been significant, with total assets growing from $2.39 billion in 2022 to $4.31 billion by Q1 2025, representing an 80% increase over the period. This growth appears to have been accompanied by changes in the asset composition and funding structure, as evidenced by fluctuating cash positions and varying current ratios across reporting periods. Revenue performance has shown volatility, with annual revenue declining from $81.4 million in 2022 to $80.8 million in 2023, then recovering to $92.4 million in 2024. However, the Q1 2025 revenue of $44.9 million suggests potential challenges in maintaining the 2024 momentum. The company's profitability metrics have deteriorated significantly, with return on equity falling from 14.0% in 2022 to 10.3% in 2024, and turning negative in Q1 2025. This trend, combined with the recent operating losses, suggests the bank may be navigating challenging market conditions or implementing strategic changes that have temporarily impacted earnings performance.
COFS company profile · for informational purposes only — not investment advice.
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