CHOICEONE FINANCIAL SERVICES INC
For the period ended Jun 30, 2024. Filed Aug 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 14, 2024
COFS$36.74-1.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements Of Comprehensive Income (Loss)
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited)
| (Dollars in thousands) | Three Months Ended June 30, | Six Months Ended June 30, | ||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Net income | $6,586 | $5,213 | $12,220 | $10,846 |
| Other comprehensive income: | ||||
| Change in net unrealized gain (loss) on available-for-sale securities | 184 | (5,018) | (2,986) | 8,676 |
| Income tax benefit (expense) | (39) | 1,054 | 627 | (1,822) |
| Less: reclassification adjustment for net (gain) loss included in net income | - | - | - | - |
| Income tax benefit (expense) | - | - | - | - |
| Less: reclassification adjustment for net (gain) loss for fair value hedge | 1,663 | 6,752 | 6,986 | 731 |
| Income tax benefit (expense) | (349) | (1,417) | (1,467) | (153) |
| Less: net unrealized (gains) losses on securities transferred from available-for-sale to held-to-maturity | - | - | - | - |
| Income tax benefit (expense) | - | - | - | - |
| Unrealized gain (loss) on available-for-sale securities, net of tax | 1,459 | 1,371 | 3,160 | 7,432 |
| Reclassification of unrealized gain (loss) upon transfer of securities from available-for-sale to held-to-maturity | - | - | - | - |
| Income tax benefit (expense) | - | - | - | - |
| Amortization of net unrealized (gains) losses on securities transferred from available-for-sale to held-to-maturity | 56 | 165 | 112 | 194 |
| Income tax benefit (expense) | (12) | (35) | (24) | (41) |
| Unrealized loss on held to maturity securities, net of tax | 44 | 130 | 88 | 153 |
| Change in net unrealized gain (loss) on cash flow hedge | 1,719 | 6,019 | 7,805 | 3,123 |
| Income tax benefit (expense) | (361) | (1,264) | (1,639) | (656) |
| Less: reclassification adjustment for net (gain) loss on cash flow hedge | - | - | - | - |
| Income tax benefit (expense) | - | - | - | - |
| Less: amortization of net unrealized (gains) losses included in net income | 205 | 887 | 1,092 | 1,043 |
| Income tax benefit (expense) | (43) | (186) | (229) | (219) |
| Unrealized gain (loss) on cash flow hedge instruments, net of tax | 1,520 | 5,456 | 7,029 | 3,291 |
| Other comprehensive income (loss), net of tax | 3,023 | 6,957 | 10,277 | 10,876 |
| Comprehensive income (loss) | $9,609 | $12,170 | $22,497 | $21,722 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.