Displaying items tagged: ChoiceOne Financial Services Inc

Business lending remained strong through midyear despite rising interest rates and economic uncertainty that’s generating worries about a potential recession, according to regional banking executives.

Here is the MiBiz People in the news report for June 6, 2022 

SPARTA — ChoiceOne Financial Services Inc. recorded higher earnings for 2021, benefitting from mergers that the bank completed in 2019 and 2020.

Here is the MiBiz Growth Report for January 17, 2022.

The $20 million in capital that West Shore Bank Corp. raised toward the end of 2021 will go to support further commercial loan growth.

SPARTA — ChoiceOne Financial Services Inc. reported strong earnings growth over the third quarter from a year earlier that included merger-related expenses.

SPARTA — ChoiceOne Financial Services Inc. has raised $32.5 million in capital through a private placement of subordinate debt.

Two local community banks are following the industry’s deeper push into digital banking that has accelerated since the onset of the COVID-19 pandemic last year.

SPARTA — ChoiceOne Financial Services Inc. reported higher second-quarter earnings as the economic recovery from the COVID-19 pandemic continues.

Raising the number of authorized shares by 25 percent gives ChoiceOne Financial Services Inc. greater ability to pursue another acquisition should the opportunity arise.

Here is the MiBiz Growth Report for June 6, 2021.

SPARTA — ChoiceOne Financial Services Inc.’s quarterly earnings nearly doubled from a year earlier following an acquisition last fall.

The two acquisitions ChoiceOne Financial Services Inc. closed over a 15-month period tripled the size of the Sparta-based bank holding company.

As the economy abruptly ground to a halt last spring under COVID-19 restrictions, Jeff Ott stayed busy.

ChoiceOne Financial Service Inc. has reported significantly higher quarterly earnings following the completion of two acquisitions in the last year.

Given how hard the economy fell in the second quarter, earnings for West Michigan-based banks held up relatively well, although they were primarily lower than a year earlier as banks set aside more in reserve to cover potential future loan losses.

An acquisition last fall helped ChoiceOne Financial Services Inc. report quarterly earnings that tripled from a year ago.

Here is the MiBiz growth report for July 5, 2020.

ChoiceOne Financial Services Inc. closed today on the $20.8 million acquisition of Community Shores Bank Corp.

Here is the MiBiz  Growth Report for June 21, 2020.

SPARTA — The planned $21.9 million merger of Community Shores Bank Corp. into ChoiceOne Financial Services Inc. heads to a close after earning shareholder approval.

Here is the MiBiz Growth Report for May 27, 2020.

SPARTA — Shares of ChoiceOne Financial Services Inc., the parent company of ChoiceOne Bank and Lakestone Bank & Trust, will begin trading Friday on The Nasdaq Capital Market under its present symbol “COFS.”

SPARTA — ChoiceOne Financial Services Inc. wasn’t actively looking to do another deal, but the parent company of ChoiceOne Bank saw an opportunity with Community Shores Bank Corp. that was too good to pass up. 

SPARTA — Five months after closing one acquisition, ChoiceOne Financial Services Inc. now plans to do another.

Bank M&A may ease in 2020, as fewer executives surveyed by the trade publication Bank Director view the market as favorable for deals.

SPARTA — Higher expenses mostly related to the Oct. 1 merger with County Bank Corp. cut into third quarter earnings for ChoiceOne Financial Services Inc.

SPARTA — ChoiceOne Financial Services Inc. remains open to further acquisitions after the $89 million deal with Lapeer-based County Bank Corp. is completed next year.

SPARTA — ChoiceOne Financial Services Inc.’s merger with Lapeer-based County Bank Corp. easily earned shareholder approvals this morning and now heads to a close next spring.

As one bank merger affecting the West Michigan marketplace focuses on integration, another much smaller deal heads toward shareholder votes next month.