CHOICEONE FINANCIAL SERVICES INC

For the period ended Mar 31, 2026. Filed May 11, 2026.

About this filing

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.

Mar 31, 2026 · Filed May 11, 2026

COFS$36.74-1.5%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements Of Comprehensive Income (Loss)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited)

	Three Months Ended
(Dollars in thousands)	March 31,
	2026	2025
Net income	$13,704	$(13,906)
Other comprehensive income:
Change in net unrealized gain (loss) on available-for-sale securities	(1,941)	99
Income tax benefit (expense)	408	(21)
Less: reclassification adjustment for net (gain) loss included in net income	203	-
Income tax benefit (expense)	(43)	-
Less: reclassification adjustment for net (gain) loss for fair value hedge	(1,084)	(4,578)
Income tax benefit (expense)	228	961
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	(2,229)	(3,539)
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	61	70
Income tax benefit (expense)	(13)	(15)
Unrealized loss on held to maturity securities, net of tax	48	55
Change in net unrealized gain (loss) on cash flow hedge	(1,897)	(3,948)
Income tax benefit (expense)	398	830
Less: reclassification adjustment for net (gain) loss on cash flow hedge	-	-
Income tax benefit (expense)	-	-
Less: accretion of net unrealized (gains) losses included in net income	(191)	73
Income tax benefit (expense)	40	(15)
Unrealized gain (loss) on cash flow hedge instruments, net of tax	(1,650)	(3,060)
Other comprehensive income (loss), net of tax	(3,831)	(6,544)
Comprehensive income (loss)	$9,873	$(20,450)

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY (Unaudited)

For the three months ended March 31,

Accumulated
Common · Other
Stock and · Comprehensive
Number of · Paid in · Retained · Income/(Loss),
(Dollars in thousands, except per share data) · Shares · Capital · Earnings · Net · Total
Balance, January 1, 2025	8,965,483	$206,780		$91,414	$(37,779)	$260,415
Net income (loss)				(13,906)			(13,906)
Other comprehensive income (loss)					(6,544)		(6,544)
Shares issued for directors and employee stock plans	5,515		172					172
Compensation expense for employee stock purchases		13					13
Stock-based compensation expense		177					177
Merger with Fentura Financial, Inc., net of issuance costs	6,064,057		192,770					192,770
Repurchase of shares from Fentura Financial, Inc. ESOP	(57,807)		(1,837)					(1,837)
Cash dividends declared ($0.28 per share)				(4,192)			(4,192)
Balance, March 31, 2025	14,977,248	$398,075		$73,316	$(44,323)	$427,068
Balance, January 1, 2026	15,000,939	$398,386		$102,641	$(35,674)	$465,353
Net income				13,704			13,704
Other comprehensive income (loss)					(3,831)		(3,831)
Shares issued for directors and employee stock plans	9,261		255					255
Compensation expense for employee stock purchases		13					13
Stock-based compensation expense		285					285
Shares repurchased	(50,000)		(1,441)					(1,441)
Cash dividends declared ($0.29 per share)				(4,337)			(4,337)
Balance, March 31, 2026	14,960,200	$397,498		$112,008	$(39,505)	$470,001

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.