Displaying items tagged: Lakestone Bank & Trust

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.

In mid-2018, executives and directors at Community Shores Bank Corp. began to study “strategic alternatives” to grow the bank.

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.

SPARTA — Costs from a proposed merger cut into ChoiceOne Financial Services Inc.’s quarterly earnings.

SPARTA — ChoiceOne Financial Services Inc.’s proposed $89 million merger with a similarly sized community bank in Lapeer began last summer when Kelly Potes struck up a conversation with his counterparts.

Sparta-based ChoiceOne Financial Services Inc. plans to merge with Lapeer-based County Bank Corp. in a deal that would create a bank with a combined $1.28 billion in assets.