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.