Choiceone Financial Services Inc (COFS) Financial Statements
Industry: State Commercial Banks
In fiscal 2025, Choiceone Financial Services reported revenue of $161.7M, up 75.0% from $92.4M the year before. Net income was $28.2M (a 17.4% net margin), or $2.01 per diluted share. Net interest income was $137.1M, and the efficiency ratio (noninterest expense / revenue) was 69.7%. Operating activities generated $31.8M of cash, leaving $25.2M of free cash flow. At fiscal year end, Choiceone Financial Services held $4.41B in total assets against $3.95B in total liabilities, including $88.0M of cash and equivalents.
Open the full interactive Choiceone Financial Services financials → Quarterly statements, key ratios, valuation history and price charts.
Choiceone Financial Services Key Stats
| Share Price | $32.49 |
|---|---|
| Market Cap | $487.6M |
| P/E Ratio | 16.2 |
| Dividend Yield | 3.53% |
| Revenue YoY Growth | +75.0% |
| 52-Week Range | $25.33 – $34.33 |
| Shares Outstanding | 15.0 million (basic, 2026 Q2) |
Choiceone Financial Services Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Net Interest Income | $51.1M | $60.6M | $67.3M | $65.9M | $74.4M | $137.1M |
| Provision for Credit Losses | $4.0M | $416,000 | $250,000 | $150,000 | $625,000 | $14.8M |
| Noninterest Income | $22.7M | $19.2M | $14.1M | $14.9M | $18.0M | $24.7M |
| Noninterest Expense | $50.9M | $52.9M | $53.5M | $55.1M | $58.7M | $112.7M |
| Revenue | $73.8M | $79.8M | $81.4M | $80.8M | $92.4M | $161.7M |
| Pre-Tax Income | $18.9M | $26.5M | $27.7M | $25.6M | $33.1M | $34.2M |
| Income Tax | $3.3M | $4.5M | $4.0M | $4.3M | $6.4M | $6.0M |
| Net Income | $15.6M | $22.0M | $23.6M | $21.3M | $26.7M | $28.2M |
| Diluted EPS | $2.07 | $2.86 | $3.15 | $2.82 | $3.25 | $2.01 |
Choiceone Financial Services Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $44.7M | $42.9M | $42.5M | $41.6M |
| Net Income | $14.7M | $13.9M | $13.7M | $12.5M |
| Diluted EPS | $0.97 | $0.99 | $0.91 | $0.83 |
Choiceone Financial Services Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $79.5M | $31.9M | $43.9M | $55.4M | $96.8M | $88.0M |
| Loans (Net) | $1.06B | $1.01B | $1.18B | $1.39B | — | — |
| Total Assets | $1.92B | $2.37B | $2.39B | $2.58B | $2.72B | $4.41B |
| Deposits | $1.67B | $2.05B | $2.12B | $2.12B | $2.21B | $3.60B |
| Total Long-Term Debt | $3.2M | $35.0M | $35.3M | $35.5M | $35.8M | $48.5M |
| Total Liabilities | $1.69B | $2.15B | $2.22B | $2.38B | $2.46B | $3.95B |
| Shareholders' Equity | $227.3M | $221.7M | $168.9M | $195.6M | $260.4M | $465.4M |
Choiceone Financial Services Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $8.5M | $37.7M | $45.0M | $46.5M | $48.6M | $31.8M |
| Cash From Investing | -$250.8M | -$521.4M | -$90.5M | -$181.4M | -$97.9M | $106.7M |
| Cash From Financing | $262.2M | $436.0M | $57.5M | $146.4M | $90.6M | -$147.3M |
| Free Cash Flow | $6.6M | $34.9M | $43.9M | $42.2M | $46.9M | $25.2M |
| Dividends Paid | $6.2M | $7.2M | $7.6M | $7.9M | $9.0M | $16.9M |
Figures from Choiceone Financial Services' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Choiceone Financial Services financials page for every line item.
Choiceone Financial Services Company Profile
| Ticker | COFS |
|---|---|
| Exchange | Nasdaq |
| Industry | State Commercial Banks |
| Headquarters | Sparta, Michigan |
| Incorporated in | Michigan |
| Fiscal Year End | December 31 |
| SEC Filer Category | Accelerated filer |
| SEC CIK | 0000803164 |
Frequently Asked Questions
What was Choiceone Financial Services' revenue in fiscal 2025?
Choiceone Financial Services (COFS) reported revenue of $161.7M for fiscal 2025.
What is Choiceone Financial Services' annual revenue history?
Choiceone Financial Services' annual revenue by fiscal year: 2020: $73.8M; 2021: $79.8M; 2022: $81.4M; 2023: $80.8M; 2024: $92.4M; 2025: $161.7M.
What was Choiceone Financial Services' net income in fiscal 2025?
Choiceone Financial Services reported net income of $28.2M for fiscal 2025.
What was Choiceone Financial Services' earnings per share (EPS) in fiscal 2025?
Choiceone Financial Services' diluted EPS was $2.01 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Choiceone Financial Services generate in fiscal 2025?
Choiceone Financial Services generated $25.2M of free cash flow in fiscal 2025.
What was Choiceone Financial Services' revenue last quarter?
In its most recent reported quarter (2026 Q2), Choiceone Financial Services reported revenue of $41.6M.
How much debt does Choiceone Financial Services have?
Choiceone Financial Services reported $48.5M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Choiceone Financial Services are outstanding?
Choiceone Financial Services reported a weighted average of 15.0 million basic shares outstanding in 2026 Q2.
What is Choiceone Financial Services' market cap?
Based on its latest closing price, Choiceone Financial Services (COFS) has a market capitalization of about $487.6M.
When does Choiceone Financial Services' fiscal year end?
Choiceone Financial Services' fiscal year end, as registered with the SEC, is December 31.
Where is Choiceone Financial Services headquartered?
Choiceone Financial Services lists its business address in Sparta, Michigan in its SEC filings.