ChoiceOne profit reaches $12.5 million in second quarter

• ChoiceOne reported second-quarter net income of $12.5 million, or $0.83 per diluted share.
• A $1.9 million securities loss reduced quarterly earnings by approximately $0.10 per share.
• The bank sold lower-yielding securities to fund loan growth and improve its interest-rate profile.

ChoiceOne Financial Services (NASDAQ:COFS) reported second-quarter net income of $12.5 million, while diluted earnings reached $0.83 per share.

First-half net income reached $26.2 million, or $1.74 per share, after first-quarter profit of $13.7 million.

A $1.9 million pre-tax securities loss reduced quarterly EPS by about $0.10 as ChoiceOne sold lower-yielding municipal securities.

Core loans increased $87.1 million, or 11.9% annualised, while deposits excluding brokered funds declined $55.4 million sequentially.

Following the announcement, ChoiceOne's share price was up 0.5% at $33.67.

Total assets reached $4.46 billion, while the Michigan-based company operates 54 banking offices across its service area.

ChoiceOne completed its Fentura merger in March 2025 and has continued integrating operations, repurchasing shares and managing its investment portfolio.