CHOICEONE FINANCIAL SERVICES INC
For the period ended Sep 30, 2026. Filed Nov 9, 2026.
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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.
Sep 30, 2026 · Filed Nov 9, 2026
COFS$36.74-1.5%Stored close · as of Nov 10, 2026
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Consolidated Statements Of Cash Flows
ChoiceOne Financial Services, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
| Nine Months Ended | ||
|---|---|---|
| (Dollars in thousands) | September 30, | |
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $40,712 | $14,309 |
| Adjustments to reconcile net income (loss) to net cash from operating activities: | ||
| Provision for (reversal of) credit losses | 1,450 | 14,013 |
| Depreciation | 2,780 | 2,576 |
| Amortization | 11,434 | 11,975 |
| Accretion on purchased loans | (7,815) | (10,034) |
| Accretion of derivative termination (gain) loss | (815) | - |
| Compensation expense on employee stock purchase plan, stock options, and restricted stock units | 847 | 624 |
| Net losses (gains) on sales of available for sale securities | 2,136 | - |
| Net change in market value of equity securities | 71 | (804) |
| Gains on sales of loans | (1,478) | (1,470) |
| Loans originated for sale | (49,618) | (41,493) |
| Proceeds from loan sales | 52,725 | 43,368 |
| Earnings on bank-owned life insurance | (1,950) | (1,488) |
| Earnings on death benefit from bank-owned life insurance | - | (303) |
| Write downs of OREO | 300 | 78 |
| (Gains) on sales of other real estate owned | (97) | (51) |
| Deferred federal income tax (benefit)/expense | 800 | 2,297 |
| Net change in: | ||
| Other assets | (8,207) | (2,177) |
| Other liabilities | 2,245 | (13,640) |
| Net cash provided by operating activities | 45,520 | 17,780 |
| Cash flows from investing activities: | ||
| Sales of securities available for sale | 29,533 | 78,856 |
| Maturities, prepayments and calls of securities available for sale | 23,895 | 19,593 |
| Maturities, prepayments and calls of securities held to maturity | 9,966 | 12,294 |
| Purchases of securities available for sale | (55,314) | (73,673) |
| Purchases of equity securities | (139) | (203) |
| Purchases of securities held to maturity | (2,639) | (4,108) |
| Purchase of Federal Home Loan Bank stock | (2,761) | (7,247) |
| Proceeds from redemption of Federal Home Loan Bank stock | 5,500 | - |
| Loan originations and payments, net | (23,503) | 25,533 |
| Purchase of loan pools | (39,887) | - |
| Proceeds from sales of other real estate owned | 888 | 728 |
| Purchase of bank-owned life insurance policies | (11,015) | - |
| Proceeds from bank owned life insurance death benefits claim | - | 940 |
| Additions to premises and equipment | (5,518) | (4,510) |
| Proceeds from derivative contracts settlements | 7,062 | 3,636 |
| Issuance costs | - | (8) |
| Cash received from merger with Fentura Financial, Inc. | - | 173,082 |
| Net cash provided by (used in) investing activities | (63,932) | 224,913 |
| Cash flows from financing activities: | ||
|---|---|---|
| Net change in deposits | 71,743 | (78,953) |
| Net change in short term borrowings | (30,000) | (147,213) |
| Issuance of common stock | 757 | 678 |
| Repurchase of shares from Fentura Financial, Inc. ESOP | - | (2,051) |
| Repurchase of common stock | (3,860) | - |
| Share based compensation withholding obligation | (252) | (327) |
| Cash dividends | (12,999) | (12,599) |
| Net cash provided by (used in) financing activities | 25,389 | (240,465) |
| Net change in cash and cash equivalents | 6,977 | 2,227 |
| Beginning cash and cash equivalents | 87,988 | 96,751 |
| Ending cash and cash equivalents | $94,965 | $98,978 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid for interest | $50,042 | $44,055 |
| Cash paid for income taxes | 1,500 | 2,840 |
| Noncash transactions: | ||
| Loans transferred to other real estate | 475 | 1,122 |
| Acquisition of assets from merger, net of cash | - | 1,578,547 |
| Acquisition of liabilities from merger | - | 1,625,421 |
| Issuance of common stock as consideration for merger | - | 192,770 |
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