Published in Breaking News

ChoiceOne reports record Q2 earnings

BY MiBiz Staff Thursday, July 27, 2017 11:27am

ChoiceOne Financial Services Inc., the Sparta-based parent company of ChoiceOne Bank, recorded a second straight period of record earnings for the second quarter.

ChoiceOne (OTC: COFS) reported net income of $1.6 million for the April-to-June period, or 47 cents per share. That compares with net income of $1.4 million, or 41 cents per share, in the second quarter of 2016.

Net income midway through 2017 totaled $3.0 million, or 89 cents per share, compared to $2.7 million, or 78 cents per share for the first six months of 2016.

“ChoiceOne continues to see record growth throughout our company” President and CEO Kelly Potes said. “Our growth has led to record earnings for a second quarter and the highest net income ever reported for the first six months of the year for ChoiceOne.”

ChoiceOne has 12 offices in Kent, Newaygo, Muskegon and Ottawa counties, plus a commercial lending office in downtown Grand Rapids, with total assets of $630.0 million.

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