Published in Finance

ChoiceOne posts higher earnings for third quarter

BY MiBiz Staff Wednesday, October 24, 2018 05:21pm

SPARTA — ChoiceOne Financial Services Inc., the parent company of ChoiceOne Bank, recorded higher earnings for the third quarter.

The Sparta-based ChoiceOne (OTC: COFS) reported $2 million in quarterly net income, or 55 cents per diluted share, which compares to $1.7 million, or 48 cents per diluted share, in the same period in 2017.

Nine-month net income reached a record $5.5 million, or $1.52 per diluted share. That compares to $4.8 million, or $1.48 per diluted share, in the first three quarters of last year.

After opening a branch in downtown Grand Rapids, ChoiceOne has 13 offices in Kent, Ottawa, Muskegon and Newaygo counties. The bank plans to open another office in December in Rockford.

The corporation ended the third quarter with total assets of $650.3 million.

Additional Info

  • Image_Position: Full
Read 782 times Last modified on Friday, 26 October 2018 13:04
SUBSCRIBE TO MIBIZ TODAY FOR WEST MICHIGAN’S FINEST BUSINESS NEWS REPORTING >