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Choiceone Financial Services Inc   (COFS)
Other Ticker:  
 
    Sector  Financial    Industry Regional Banks
   Industry Regional Banks
   Sector  Financial
 
Price: $26.6100 $0.42 1.584%
Day's High: $26.7 Week Perf: -0.34 %
Day's Low: $ 25.39 30 Day Perf: -0.11 %
Volume (M): 49 52 Wk High: $ 32.14
Volume (M$): $ 1,299 52 Wk Avg: $24.15
Open: $25.66 52 Wk Low: $15.84



 Market Capitalization (Millions $) 200
 Shares Outstanding (Millions) 8
 Employees 151
 Revenues (TTM) (Millions $) 81
 Net Income (TTM) (Millions $) 23
 Cash Flow (TTM) (Millions $) 93
 Capital Exp. (TTM) (Millions $) 3

Choiceone Financial Services Inc

ChoiceOne Financial Services, Inc. is a one-bank holding company registered under the Bank Holding Company Act of 1956, as amended. 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 (formerly Sparta State Bank), which became a wholly owned subsidiary of the Company on April 6, 1987. The Company’s only subsidiary and significant asset, is ChoiceOne Bank (the “Bank”). Effective November 1, 2006, the Company merged with Valley Ridge Financial Corp. (“VRFC”), a one-bank holding company for Valley Ridge Bank (“VRB”). In the merger, the Company issued shares of its common stock in exchange for all outstanding shares of VRFC. In December 2006, VRB was consolidated into the Bank. The Bank owns all of the outstanding common stock of ChoiceOne Insurance Agencies, Inc., an independent insurance agency headquartered in Sparta, Michigan (the “Insurance Agency”) and a 25% interest in West Shore Computer Services, Inc., a data processing firm located in Scottville, Michigan.


The Company’s business is primarily concentrated in a single industry segment - banking. The Bank is a full-service banking institution that offers a variety of deposit, payment, credit and other financial services to all types of customers. These services include time, savings, and demand deposits, safe deposit services, and automated transaction machine services. Loans, both commercial and consumer, are extended primarily on a secured basis to corporations, partnerships and individuals. Commercial lending covers such categories as business, industry, agricultural, construction, inventory and real estate. The Bank’s consumer loan department makes direct and indirect loans to consumers and purchasers of residential and real property. No material part of the business of the Company or the Bank is dependent upon a single customer or very few customers, the loss of which would have a materially adverse effect on the Company.

The Bank’s primary market area lies within Kent, Muskegon, Newaygo, and Ottawa counties in Michigan in the communities where the Bank’s offices are located. Currently the Bank serves these markets through twelve full-service offices. The Company and the Bank have no foreign assets or income except for foreign debt securities.



   Company Address: 109 East Division Sparta 49345 MI
   Company Phone Number: 887-7366   Stock Exchange / Ticker: NASDAQ COFS
   COFS is expected to report next financial results on March 22, 2024.


Customers Net Income fell by COFS's Customers Net Profit Margin fell to

-6.33 %

17.2 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
BK   -0.33%    
CFG   -2.19%    
FCNCA        2.47% 
FITB   -2.51%    
MTB   -1.61%    
NTRS        1.27% 
• View Complete Report
   



Choiceone Financial Services Inc

Regional Banks Company Witnesses a 11.69% Decrease in EPS During Q3 of 2023 Earnings Season at Choiceone Financial Services Inc.

Choiceone Financial Services Inc, a financial services company, recently reported disappointing numbers for the third quarter of the 2023 earnings season. The company saw a decline in earnings per share (EPS) of -11.69% to $0.68 from $0.77, while its revenue sank by -1.75% to $19.93 million compared to the same period last year. This is indeed a cause for concern as it signifies a downward trend in the company's financial performance.
When compared to the preceding reporting season, income per share also decreased, falling from $0.69 per share. In contrast, revenue saw a slight increase of 0.525% from $19.83 million. This means that the company's overall financial performance has not been stable or consistent, with only a marginal improvement in revenue.

Choiceone Financial Services Inc

Choiceone Financial Services Inc Struggles to Boost Profitability despite Modest Revenue Increase during Q2 2023 Earnings Season



Choiceone Financial Services Inc, a leading financial services provider, recently reported its second-quarter earnings for 2023. The results showed a decline in both revenue and income, reflecting the company's struggle to boost profitability in increasingly challenging market conditions. This article will provide an overview of the company's financial performance and shed light on the factors contributing to its current market and stock performance.
Earnings Report Analysis:
In the second quarter of 2023, Choiceone Financial Services Inc experienced a revenue improvement of 0.543%, reaching $19.83 million. However, this was unable to prevent income contraction of -8%, with earnings per share falling to $0.69. Comparing these figures to the corresponding quarter of the previous year, it is evident that the company faced significant challenges.






 

Choiceone Financial Services Inc's Segments
 
 
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