ChoiceOne Financial Services Inc
choiceone.bankWhat Do They Do?
Makes commercial and consumer loans, and provides deposit and payment services to individuals and businesses.
10-K for FY2025, filed Mar 13, 2026
How Do They Make Money?
Interest and fees on loans are the main source of income (76% of total revenue). Customers also pay account fees and transaction charges; card, commission and trust income comes as services are provided or transactions are completed.
10-K for FY2025, filed Mar 13, 2026At December 31, 2025, the Company had consolidated total assets of $4.4 billion, net loans of $3.0 billion, total deposits excluding…View ↗
Revenue includes charges and fees to provide account maintenance, overdraft services, wire transfers, funds transfer, and other…View ↗
Revenue includes debit card interchange and network revenues. This revenue is earned on debit card transactions that are conducted through…View ↗
Revenue includes fees from the investment management advisory services and revenue is recognized when services are rendered. Revenue also…View ↗
Revenue includes fees from the management of trust assets and from other related advisory services. Revenue is recognized when services are…View ↗
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10-K for FY2025, filed Mar 13, 2026
FY2025 revenue by product or service (Noninterest income from contracts with customers within the scope of ASC 606) ↗
$227.6M
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10-K for FY2025, filed Mar 13, 2026
$227.6M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Customer Service Charges
|
32% |
Customer Service Charges, FY2025
$6M Sources
|
|
|
Interchange Income
Usage-based
10-K for FY2025, filed Mar 13, 2026 |
41% |
Interchange Income, FY2025
$7.8M Sources
|
Usage-based |
|
Insurance and Investment Commission Income
|
10% |
Insurance and Investment Commission Income, FY2025
$1.9M Sources
|
|
|
Trust Fee Income
|
13% |
Trust Fee Income, FY2025
$2.5M Sources
|
|
|
Other Charges and Fees for Customer Services
|
4.0% |
Other Charges and Fees for Customer Services, FY2025
$751K Sources
|
Who Are Their Customers?
Serves individual and business customers through its branches and ATMs; consumer loans are made directly and indirectly.
10-K for FY2025, filed Mar 13, 2026
Do Revenues Turn Into Profits?
Yes. It kept 12 cents of every revenue dollar as net income in FY2025 and turned 11 cents into free cash flow.
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 10, 2026
Open tableView ↗
Growing. Revenue grew 3.5x in 4 years, from $64.6M in FY2021 to $227.6M in FY2025, about 37% a year.
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