ChoiceOne Financial Services, Inc. (COFS)

COFS Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	149.87	89.58	68.38	52.82	48.66	46.87
Interest Income on Investments	29.75	31.52	30.6	22.24	15.96	8.84
Total Interest Income	179.62	121.1	98.98	75.06	64.62	55.72
Interest Paid on Deposits	48.55	34.17	23.99	5.85	3.31	4.18
Interest Paid on Borrowings	11.49	12.49	9.11	1.9	0.67	0.47
Total Interest Expense	60.04	46.66	33.1	7.75	3.98	4.64
Net Interest Income	119.58	74.44	65.89	67.31	60.64	51.07
Net Interest Income Growth (YoY)	66.90%	12.99%	-2.12%	11.00%	18.74%	83.89%
Trust Income	2.08	0.91	0.77	0.73	0.79	0.74
Mortgage Banking Activities	-	-	-	-	2.34	3.18
Gain (Loss) on Sale of Investments	0.76	0.2	-0.32	-1.76	0.44	1.15
Other Non-Interest Income	11.66	7.76	7.61	7.6	11.18	9.51
Total Non-Interest Income	22.56	17.3	14.91	13.8	19.19	22.7
Non-Interest Income Growth (YoY)	32.36%	16.03%	8.03%	-28.11%	-15.44%	155.61%
Revenues Before Loan Losses	142.14	91.74	80.79	81.11	79.84	73.77
Provision for Loan Losses	14.21	0.63	0.15	0.25	0.42	4
Revenue	127.93	91.11	80.64	80.86	79.42	69.77
Revenue Growth (YoY)	45.55%	12.98%	-0.27%	1.82%	13.83%	90.35%
Salaries and Employee Benefits	46.4	32.69	30.96	29.43	28.49	26.03
Occupancy Expenses	7.91	5.48	5.72	5.98	6.02	5.78
Federal Deposit Insurance	1.72	1.34	1.18	0.72	0.8	0.45
Amortization of Goodwill & Intangibles	4.29	0.76	0.96	1.15	1.31	1.5
Selling, General & Administrative	16.4	12.22	11.65	11.56	11.63	12.43
Other Non-Interest Expense	8.26	5.21	4.61	4.64	4.68	4.7
Total Non-Interest Expense	84.97	57.68	55.07	53.48	52.92	50.88
EBT Excluding Unusual Items	42.96	33.43	25.57	27.38	26.5	18.89
Pretax Income	26.2	33.09	25.57	27.66	26.5	18.89
Income Tax Expense	4.73	6.36	4.31	4.02	4.46	3.27
Net Income	21.47	26.73	21.26	23.64	22.04	15.61
Net Income to Common	21.47	26.73	21.26	23.64	22.04	15.61
Net Income Growth	-13.65%	25.71%	-10.06%	7.25%	41.18%	117.72%
Basic Shares Outstanding	12	8	8	8	8	8
Diluted Shares Outstanding	12	8	8	8	8	8
Shares Change (YoY)	58.83%	8.57%	0.60%	-2.28%	2.27%	65.92%
EPS (Basic)	1.73	3.27	2.82	3.15	2.87	2.08
EPS (Diluted)	1.72	3.25	2.82	3.15	2.86	2.07
EPS Growth	-45.60%	15.25%	-10.48%	10.14%	38.16%	31.03%
Dividend Per Share	1.120	1.090	1.050	1.010	0.940	0.820
Dividend Growth	3.70%	3.81%	3.96%	7.45%	14.63%	2.50%
Effective Tax Rate	18.06%	19.23%	16.84%	14.53%	16.82%	17.33%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q