AI-extracted from the 10-Q filed 2026-08-10 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
ChoiceOne reported net income of $12.5M in Q2 2026 with diluted EPS of $0.83, benefiting from $101.5M organic loan growth and improved funding costs, though partially offset by a $1.9M securities loss.
Biggest Revenue Drivers
Net Interest Income$73.3M+17.1% YoY
Driven by $546M increase in average earning assets and lower cost funding base, partially offset by declining yields on purchased loan accretion.
Noninterest Income$10.8M-5.9% YoY
Declined primarily due to $2.1M loss on securities sales in the period, partially offset by gains in customer service charges and interchange income.
Biggest Revenue Drivers
Total revenue: $117.97B+12.0% YoY
Net Interest Income$73.3M+17.1% YoY
Driven by $546M increase in average earning assets and lower cost funding base, partially offset by declining yields on purchased loan accretion.
Noninterest Income$10.8M-5.9% YoY
Declined primarily due to $2.1M loss on securities sales in the period, partially offset by gains in customer service charges and interchange income.
Largest Expense Items
Salaries and Benefits$28.5M+18.6% YoY
Higher expenses associated with company growth and integration activities from the Fentura merger.
Provision for Credit Losses$0.55M-96.0% YoY
Lower provision as prior year included $12.0M charge for acquisition of purchased loans without credit deterioration in Fentura merger.
Margins: Net interest margin (GAAP) was 3.59% in Q2 2026 versus 3.66% in Q2 2025, an 7 basis point decline largely attributable to lower accretion income from purchased loans (24 bps vs. 36 bps). Excluding accretion, underlying margin remained relatively stable as lower earning asset yields were offset by continued improvement in funding costs.
Watch Items from the Filing
Nonperforming loans increased to 1.07% of total loans as of June 30, 2026 from 1.01% on March 31, 2026; however, 0.49% is attributed to purchased credit deteriorated loans with corresponding reserves and 30.6% carry SBA/USDA government guarantees.
Uninsured deposits represent 33.1% of total deposits ($1.2B) as of June 30, 2026, presenting potential deposit flight risk in periods of financial stress or higher rates.
Interest income from purchased loan accretion declining materially: $2.4M in Q2 2026 vs. $3.5M in Q2 2025; estimated $48.0M remaining to be recognized over life of portfolio, down from higher run rates.
ChoiceOne Bank remains well-capitalized with total risk-based capital ratio of 12.9% as of June 30, 2026 and total available borrowing capacity of $1.1B, providing substantial liquidity cushion.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Coulter Curt EDirectorGrant or award · Oct 1, 2026
About CHOICEONE FINANCIAL SERVICES INC (COFS): stock profile, AI score and financials
CHOICEONE FINANCIAL SERVICES INC (COFS) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores COFS at 67.9/100 on a composite quality score built from its SEC filings, placing it at rank #339 of 2,925 stocks — the top 25% of the AI-ranked universe. COFS scores in the top quartile across revenue growth (94.1), profitability (86.4), free cash flow (75.0). Areas of concern include revenue scale (26.3) and earnings quality (38.6), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), CHOICEONE FINANCIAL SERVICES INC reports quarterly revenue of $58.9M, net income of $12.5M, an operating margin of 25.5%. Top institutional holders of COFS by reported 13-F value include BlackRock, NORTHERN, VANGUARD CAPITAL MANAGEMENT, based on the most recent SEC filings. COFS trades on the Nasdaq exchange and files with the SEC under CIK 803164. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate COFS daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for CHOICEONE FINANCIAL SERVICES INC directly from SEC EDGAR.