37.29
+1.64%
Close of 9 Nov 2026, in USD
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About ChoiceOne Financial Services
From its filings with the US Securities and Exchange Commission
ChoiceOne Financial Services is based in Sparta, Michigan and is incorporated in Michigan. Its shares trade on Nasdaq under the ticker COFS. The SEC classifies its business as state commercial banks. In the fiscal year to 31 December 2025, it reported revenue of $227.6m and net income of $28.2m. At that date it held total assets of $4.41bn and shareholders' equity of $465.4m.
ChoiceOne Financial Services, Inc. (the “Company”) is a financial holding company registered under the Bank Holding Company Act of 1956, as amended (“BHC Act”). The Company was incorporated on February 24, 1986, as a Michigan corporation. The Company was formed to create a bank holding company for the purpose of acquiring all of the capital stock of ChoiceOne Bank, which became a wholly owned subsidiary of the Company on April 6, 1987. Effective November 1, 2006, Valley Ridge Financial Corp., a one-bank holding company for Valley Ridge Bank (“VRB”), merged with and into the Company. In December 2006, VRB was consolidated into ChoiceOne Bank. Effective October 1, 2019, County Bank Corp. ("County"), a one-bank holding company for Lakestone Bank & Trust (“Lakestone”), merged with and into the Company. Lakestone was consolidated into ChoiceOne Bank in May 2020. On July 1, 2020, Community Shores Bank Corporation ("Community Shores"), a one bank holding company for Community Shores Bank, merged with and into the Company. Community Shores Bank was consolidated into ChoiceOne Bank in October 2020. ChoiceOne Bank owns all of the outstanding common stock of ChoiceOne Insurance Agencies, Inc., an independent insurance agency headquartered in Sparta, Michigan (the "Insurance Agency"). On July 18, 2023, the Company organized 109 Technologies, LLC as a wholly owned subsidiary of the Company with the intent to own intellectual property for a fintech product licensed to third party banks and bank holding companies.
Quoted from its 10-K, filed 13 Mar 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Financials
- Industry
- Banks
- Listed since
- 21 Jun 2001
- Employees
- 505
- Head office
- 109 E DIVISION, SPARTA, MI, 49345-0186
- Incorporated in
- MI
- Classification
- State Commercial Banks
- Filer status
- Accelerated filer
Leadership
Pay as last reported
- Mr. Jack HendonIndependent Chairman of the Board$69,000
- Mr. Gregory McConnellIndependent Chairman of the Board$60,500
- Mr. Michael BurkePresident, Director, since 2019$626,771
- Mr. Kelly PotesChief Executive Officer, Director, since 2001$888,391
- Ms. Roxanne PageIndependent Vice Chairman of the Board$61,500
- Mr. Adom GreenlandChief Financial Officer, Company Secretary$248,438
- Mr. Bradley HenionExecutive Vice President, Chief Lending Officer of ChoiceOne Bank$397,148
- Mr. Greg ArmockIndependent Director$61,500
- Mr. Keith BrophyIndependent Director$60,500
- Mr. Harold BurnsIndependent Director$60,500
- Mr. Eric BurroughIndependent Director$59,000
- Dr. Curt CoulterIndependent Director$60,500
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 19
- Environment
- 21
- Social
- 24
- Governance
- 13
- Women in the workforce
- 73.76%
- Carbon reduction policy
- No
- Human rights policy
- No
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- ChoiceOne Financial Services Inc possesses several strengths that contribute to its success and competitive advantage in the market. These include:
Weaknesses
- Despite its strengths, ChoiceOne Financial Services Inc faces certain weaknesses that can hinder its growth and performance. These weaknesses include:
Opportunities
- ChoiceOne Financial Services Inc can capitalize on several opportunities to drive growth and expand its market presence. These opportunities include:
Threats
- ChoiceOne Financial Services Inc faces certain threats in the external environment, which may pose challenges to its operations and growth prospects. These threats include:
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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