Earnings Releases·Oct 30, 2026, 7:16 AM ET

ChoiceOne Financial Services, Inc. — Third Quarter 2026 Earnings Summary

Q3 2026 net income was $14.5 million ($0.97 per diluted share), flat year-over-year against Q3 2025, while the first nine months of 2026 saw net income surge to $40.7 million ($2.71 per share) from $14.3 million in the prior year period, driven by the absence of $17.4 million in merger-related expenses.
Net interest income rose to $38.4 million and GAAP net interest margin expanded 8 basis points to 3.67% in Q3 2026, supported by core loan growth of $33.6 million and a shift toward relationship-based deposits that reduced brokered deposits by $25.8 million.
Management maintains a positive outlook, citing a well-capitalized balance sheet (12.9% risk-based capital ratio) and strong liquidity ($1.2 billion borrowing capacity), with plans to purchase transferable tax credits to reduce tax expense and $6.0 million in accretion income expected from purchased loans in 2027.
The company repurchased 40,000 shares for $1.3 million in Q3 2026, though nonperforming loans increased to 1.25% and noninterest income declined $389,000 due to losses on other assets and unrealized losses on equity securities.