ChoiceOne Financial Services Reports Third Quarter 2026 Financial Results

ChoiceOne Financial Services, Inc., the parent company of ChoiceOne Bank, reported its financial results for the quarter ended September 30, 2026. The company announced net income of $14.5 million, or $0.97 per diluted share, for the third quarter of 2026, alongside net income of $40.7 million, or $2.71 per diluted share, for the first nine months of the year.

CEO Kelly Potes attributed the performance to disciplined balance sheet management, loan production, and growth in relationship-based deposits.

Financial Highlights

• Net Income: Reported at $14.5 million ($0.97 per diluted share) for Q3 2026.
• Net Interest Margin: GAAP net interest margin expanded by 8 basis points to 3.67% in Q3 2026, up from 3.59% in the second quarter.
• Loan Growth: Core loans increased by $33.6 million (4.4% annualized) during the third quarter and $145.4 million over the twelve months ending September 30, 2026.
• Deposit Growth: Deposits, excluding brokered deposits, grew by $95.7 million (10.9% annualized) during the third quarter to reach $3.6 billion.
• Asset Quality: Annualized net charge-offs stood at 0.08% of average loans for the quarter, while nonperforming loans to total loans (excluding held for sale) were reported at 1.25%.

Balance Sheet and Capital Position

Total assets reached $4.5 billion as of September 30, 2026, representing an increase of $162.2 million compared to the same date in 2025. Shareholders' equity totaled $469.8 million at the end of the quarter. ChoiceOne Bank maintained its "well-capitalized" status, reporting a total risk-based capital ratio of 12.9% as of September 30, 2026. During the third quarter, the company repurchased 40,000 shares of its common stock for $1.3 million under its existing share repurchase plan.

Practical Implications and Verification

The reported metrics reflect ongoing trends in community banking, including seasonal deposit fluctuations and the ongoing management of funding costs. Stakeholders and interested parties can verify these financial results and review detailed non-GAAP reconciliations by accessing the Investor Relations section of the official ChoiceOne website at choiceone.bank or via filings on the SEC website.