--- title: "ChoiceOne Financial Svc | 10-K: FY2025 Revenue: USD 227.62 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/283960674.md" datetime: "2026-04-24T08:31:32.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/283960674.md) - [en](https://longbridge.com/en/news/283960674.md) - [zh-HK](https://longbridge.com/zh-HK/news/283960674.md) --- # ChoiceOne Financial Svc | 10-K: FY2025 Revenue: USD 227.62 M Revenue: As of FY2025, the actual value is USD 227.62 M. EPS: As of FY2025, the actual value is USD 2.01, missing the estimate of USD 2.19. EBIT: As of FY2025, the actual value is USD -102.88 M. ChoiceOne Financial Services, Inc. operates in a single industry segment: banking. All reported metrics pertain to this segment. #### Operational Metrics - **Net Income**: Net income was $28,176,000 for the year ended December 31, 2025, compared to $26,727,000 for the same period in the prior year. Excluding merger expenses and merger-related provision for credit losses, net of taxes, adjusted net income was $51,524,000 for 2025, compared to $27,733,000 for 2024. - **Net Interest Income (GAAP)**: Net interest income increased by $62.6 million to $137,070,000 in 2025, from $74,442,000 in 2024. - **Net Interest Margin (GAAP)**: The GAAP net interest margin increased by 66 basis points to 3.61% in 2025, from 2.95% in 2024. - **Total Assets**: Total assets were $4.4 billion as of December 31, 2025, an increase of $1.7 billion compared to $2.723 billion as of December 31, 2024. - **Total Loans (Gross)**: Total gross loans were $3,029,219,000 as of December 31, 2025, compared to $1,552,928,000 as of December 31, 2024. - **Loan Interest Income**: Loan interest income increased by $83.3 million to $172,914,000 in 2025, from $89,580,000 in 2024. Interest income from accretion from purchased loans contributed $13.1 million in 2025, up from $1.2 million in 2024, increasing the GAAP net interest margin by 34 basis points in 2025. - **Noninterest Income**: Noninterest income increased by $6.7 million to $24,666,000 in 2025, from $17,995,000 in 2024. - **Noninterest Expense**: Noninterest expense increased by $54.0 million to $112,735,000 in 2025, from $58,723,000 in 2024, including $17.4 million in merger-related expenses in 2025, compared to $1.0 million in 2024. - **Provision for Credit Losses on Loans**: The provision for credit losses on loans was $15.1 million in 2025, primarily due to $12.0 million of expense for the acquisition of non-PCD loans in the Merger, an increase from $1.3 million in 2024. - **Allowance for Credit Losses (ACL) to Total Loans**: The ratio of ACL to total loans was 1.18% as of December 31, 2025, compared to 1.07% as of December 31, 2024. - **Net Charge-offs**: Net charge-offs were $1.0 million in 2025, compared to $433,000 in 2024, and as a percentage of average loans, they were 0.04% in 2025, compared to 0.03% in 2024. - **Nonperforming Loans**: Nonperforming loans increased by $23.4 million to $27.1 million as of December 31, 2025, compared to $3,704,000 as of December 31, 2024, with $21.8 million (73.2%) acquired during the Merger. - **Return on Average Assets (ROAA)**: ROAA was 0.69% in 2025, compared to 1.00% in 2024, while Adjusted ROAA (Non-GAAP) was 1.26% in 2025, compared to 1.04% in 2024. - **Return on Average Equity (ROAE)**: ROAE was 7.04% in 2025, compared to 11.80% in 2024, while Adjusted ROAE (Non-GAAP) was 12.87% in 2025, compared to 12.24% in 2024. #### Loan Portfolio Composition (as of December 31, 2025) - **Construction & Development Loans**: $89,394,000 (3.0% of total). - **1-4 Family Loans**: $875,818,000 (29.0% of total). - **Multifamily Loans**: $150,380,000 (5.0% of total). - **Owner Occupied CRE Loans**: $553,208,000 (18.3% of total). - **Non-Owner Occupied CRE Loans**: $917,758,000 (30.4% of total). - **Commercial & Industrial Loans**: $339,272,000 (11.2% of total). - **Farm & Agriculture Loans**: $57,525,000 (1.9% of total). - **Consumer & Other Loans**: $38,679,000 (1.3% of total). #### Deposits and Funding - **Total Deposits**: Total deposits were $3,600,025,000 as of December 31, 2025, compared to $2,214,103,000 as of December 31, 2024, with deposits excluding brokered deposits increasing by $1.3 billion in 2025 due to the Merger. - **Cost of Deposits**: The cost of deposits was 1.60% in 2025, compared to 1.58% in 2024. - **Cost of Funds**: The cost of funds decreased by 11 basis points to 1.81% in 2025, from 1.92% in 2024. - **Borrowings**: Total outstanding borrowings from the FHLB were $265.0 million as of December 31, 2025, at a weighted average rate of 3.83%. Total available borrowing capacity from the FHLB and the Federal Reserve Bank was $410.7 million as of December 31, 2025. #### Securities - **Total Securities**: Total securities increased by $67.5 million to $980,082,000 as of December 31, 2025, compared to $896,123,000 as of December 31, 2024. - **Unrealized Losses on Investment Securities (2025)**: The Company had -$90.4 million in total unrealized losses on investment securities, comprising -$52.8 million in available for sale securities, -$37.2 million in held to maturity securities, and -$471,000 in equity securities. #### Shareholders’ Equity - **Total Shareholders’ Equity**: Shareholders’ equity was $465,353,000 as of December 31, 2025, a significant increase from $260,415,000 on December 31, 2024, primarily due to the Merger. - **Common Stock Repurchases**: ChoiceOne repurchased 25,116 shares of stock for a net cost of $775,000 in 2025, with 350,272 shares remaining in the repurchase plan as of December 31, 2025. #### Outlook / Guidance ChoiceOne Financial Services, Inc. plans to invest in staff, technology, and physical presence, including a new branch and lending office in Troy, Michigan, expected to open in late 2026. The company is also exploring automation and AI-driven solutions to modernize processes and support growth. Management expects to declare and pay regular quarterly cash dividends in 2026, subject to market conditions and capital requirements, with estimated interest income due to accretion from purchased loans for 2026 projected at $8.0 million. ### Related Stocks - [COFS.US](https://longbridge.com/en/quote/COFS.US.md) ## Related News & Research - [ChoiceOne to present annual meeting materials; reports $4.4B assets and Q1 net income $13.7M](https://longbridge.com/en/news/287057277.md) - [Is Wall Street Bullish or Bearish on Nucor Stock?](https://longbridge.com/en/news/287234096.md) - [Nippo lifts profits and cash, delivers hefty special dividend ahead of earnings plateau](https://longbridge.com/en/news/286837429.md) - [ProShare Advisors LLC Purchases 257,762 Shares of Cintas Corporation $CTAS](https://longbridge.com/en/news/286893600.md) - [Stronger‑Than‑Expected Ansys Integration Could Be A Game Changer For Synopsys (SNPS)](https://longbridge.com/en/news/286866906.md)