Published in Breaking News

Organic growth drives quarterly results for ChoiceOne Financial

BY MiBiz Staff Thursday, October 26, 2017 03:56pm

SPARTA — ChoiceOne Financial Services Inc. recorded higher earnings of $1.7 million, or 50 cents per share, for the third quarter. The quarterly result compares with $1.6 million, or 50 cents per share, during the same period a year earlier.

President and CEO Kelly Potes attributed what was a record quarter for the Sparta-based ChoiceOne (OTC: COFS) to continued organic growth for the bank.

“It is reassuring to see our business practices rewarded with growth,” Potes said.

Net income for the first nine months of the year totaled $4.8 million, or $1.39 per share, versus $4.4 million, or $1.28 per share, through three quarter of 2016.

ChoiceOne has 12 bank offices in Kent, Ottawa, Muskegon and Newaygo counties. The bank ended the third quarter with assets of $642.0 million, up 7 percent from a year earlier.


MiBiz finance news coverage is supported by Chemical Bank, the largest banking company headquartered and operating branch offices in Michigan. Visit chemicalbank.com for information. (This sponsorship is advertising. It has no effect on editorial consideration in MiBiz.)

Read 1521 times Last modified on Thursday, 26 October 2017 16:19
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