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Displaying items by tag: Lakestone Bank & Trust

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.

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

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

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Wednesday, 05 February 2020 09:23

ChoiceOne shares moving to Nasdaq exchange

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.”

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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. 

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

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

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

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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.

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Wednesday, 18 September 2019 12:23

Shareholders approve ChoiceOne-County Bank merger

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.

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