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Wednesday, 13 December 2017 13:41

ChoiceOne to open branch in downtown Grand Rapids

Written by  MiBiz Staff
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A conceptual image for the ChoiceOne Bank remodeling by Integrated Architecture of Grand Rapids. A conceptual image for the ChoiceOne Bank remodeling by Integrated Architecture of Grand Rapids. Courtesy Rendering

ChoiceOne Bank plans to open a branch on the south end of downtown Grand Rapids next year.

The Sparta-based ChoiceOne Bank closed last week on the purchase of a building at 330 Market Ave., nearby Founders Brewing Co. The bank plans to renovate the site into a full-service bank branch that should open by late next summer, President and CEO Kelly Potes said.

The bank, which primarily serves small, rural markets, first ventured into downtown Grand Rapids in 2016 with the opening of a lending office to offer commercial loans and residential mortgages.

ChoiceOne Bank hired Integrated Architecture of Grand Rapids to design renovations for the Market Avenue location. NAI Wisinski of West Michigan and retail advisors Doug Taatjes and Hillary Taatjes Woznick brokered the property’s sale.
ChoiceOne Bank has 12 bank offices in Kent, Ottawa, Muskegon and Newaygo counties.

Parent company ChoiceOne Financial Services Inc. in October reported higher earnings of $1.7 million, or 50 cents per share, for the third quarter. 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 had total assets as of Sept. 30 of $642.0 million.

Read 1773 times Last modified on Wednesday, 13 December 2017 13:45

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