MARKETS / NASDAQ / COFS

NASDAQ · STATE COMMERCIAL BANKS · MID CAP

Choiceone Financial Services Inc. COFS

17 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$19.0M

▲ 48.6% YoY

Net income

$28.2M

▲ 5.4% YoY

Free cash flow

$25.2M

▼ 44.5% YoY

In brief

What this company does

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. On March 1, 2025, the Company completed the merger (the “Merger”) of Fentura Financial, Inc. (“Fentura”), the former parent company of The State Bank, with and into the Company with the Company surviving the merger. The Company's business is primarily concentrated in a single industry segment, banking. ChoiceOne Bank (referred to as 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.

Written from the business description in ChoiceOne Financial Services, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 13 March 2026. Every sentence was checked against that document before publication.

Growth

USD 19.0M

Revenue, FY2025 · full 17-year series below

Revenue $M Net income $M

FY2025 · Revenue 19.0 · Net income 28.2

Compound annual growth

Revenue

−40.3%

Net income

+6.0%

+12.5%

+17.2%

+16.9%

Returned to shareholders

+32.3%

+24.9%

+23.2%

+18.0%

3 yrs

5 yrs

10 yrs

15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

148 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 180.0% · Net 148.3%

ROE

FY2025 · ROE 7.8%

Gross margin—

Operating margin180.0%

Net margin148.3%

Return on assets0.8%

EBITDAUSD 37.8M

Each USD of equity produced 8 cents of profit this year.

Cash & shareholders

USD 18.7M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 25.2

Net buybacks $M Dividends $M

FY2025 · Dividends 16.9 · Net buybacks 1.8

Dividends paidUSD 16.9M

Net buybacksUSD 1.8M

Share of profit66.5%

Consecutive raises—

USD 16.9M in dividends and USD 1.8M in buybacks — 66% of the year's profit went back to shareholders.

Total assetsUSD 4.4B

EquityUSD 465.4M

CashUSD 88.0M

DepositsUSD 3.6B

Equity funds 11% of total assets.

The 17-year record

17 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Revenue $B	0.0	0.0	0.1	0.1	·	·	·	·	·	·	·	·	·	·	·	·	·
Operating income $B	0.0	0.0	0.0	0.0	0.0	0.0	0.0	·	·	·	·	·	·	·	·	·	·
EBITDA $B	0.0	0.0	0.0	0.0	0.0	0.0	0.0	·	·	·	·	·	·	·	·	·	·
Income tax $B	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	−0.0
Net income $B	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Free cash flow $B	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
EPS, diluted $	2.01	3.25	2.82	3.15	2.86	2.07	1.58	2.02	1.70	1.68	1.66	1.72	1.54	1.29	1.07	0.83	0.45
Dividend / sh $	1.13	1.09	1.05	1.01	0.94	0.82	1.40	0.71	0.64	0.62	0.63	0.59	0.54	0.50	0.48	0.48	0.48
Payout %	60	34	37	32	33	40	81	35	38	37	38	34	35	39	45	58	106
ROE %	7.8	11.7	11.9	12.4	9.8	7.4	5.3	9.3	8.3	8.6	8.4	8.9	8.3	7.2	6.3	5.1	2.8
Shares out B	0.02	0.01	0.01	0.01	0.01	0.01	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 49 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 8 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityState Commercial Banks

Listed onNASDAQ

Incorporated inMichigan

Fiscal year endsDecember 31

Data on record since2009