Choiceone Financial Services (COFS)

Company Profile

ChoiceOne Financial Services, Inc. is the holding company for ChoiceOne Bank headquartered in Sparta, Michigan. ChoiceOne has always taken the lead in providing innovative services and technology. The bank’s customers have come to rely on digital banking including mobile banking, mobile deposits, innovative payroll solutions, online loan applications, online account opening, and digital mobile savings tools.

Company profile

Ticker

COFS

Exchange

NASDAQ

Website

www.choiceone.com

CEO

Kelly J. Potes

Incorporated

Michigan

Location

Michigan

Fiscal year end

Dec 31

Sector

Finance and Insurance > Commercial Banking

Industry (SIC)

State Commercial Banks

Bank Of New York Mellon • Citizens Financial • Ally Financial • Northern Trust • M & T Bank • Fifth Third Bancorp • Associated Banc-Corp. • SVB Financial • Commerce Bancshares • First Citizens Bancshares, Inc ...

Former names

1ST COMMUNITY BANCORP INC

SEC CIK

0000803164

Corporate docs

Articles of Incorporation & Bylaws

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

ChoiceOne Insurance Agencies, Inc. ...

COFS stock data

1M 1Y 5Y

Latest filings (excl ownership)

View all

Submission of Matters to a Vote of Security Holders

26 May 23

8-K

SERVICE • INNOVATION • RESPECT 2023 annual meeting

9 May 23

ChoiceOne Financial Reports First Quarter 2023 Results

26 Apr 23

ARS

2022 FY

Annual report to shareholders

11 Apr 23

23 Mar 23

ChoiceOne Financial Reports Fourth Quarter and Year End 2022 Results

10 Nov 22

Latest ownership filings

View all

Financial summary

Financial statements Chart COFS financial data

Quarter (USD)	Mar 23	Dec 22	Sep 22	Jun 22
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 22	Dec 21	Dec 20	Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	55.19 mm	55.19 mm	55.19 mm	55.19 mm	55.19 mm	55.19 mm
Cash burn (monthly)	(no burn)	2.90 mm	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	n/a	6.02 mm	n/a	n/a	n/a	n/a
Cash remaining	n/a	49.17 mm	n/a	n/a	n/a	n/a
Runway (months of cash)	n/a	17.0	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q4 2022

COFS institutional ownership history Ownership history

12.2% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	32	26	+23.1%
Opened positions	9	2	+350.0%
Closed positions	3	2	+50.0%
Increased positions	10	6	+66.7%
Reduced positions	6	9	-33.3%

13F shares	Current	Prev Q	Change
Total value	22.13 bn	17.94 mm	+123303.0%
Total shares	915.48 k	825.82 k	+10.9%
Total puts	0.00	0.00
Total calls	0.00	0.00
Total put/call ratio	–	–	–

Largest owners	Shares	Value	Change
Vanguard	295.60 k	$8.57 bn	+0.0%
Fourthstone	191.46 k	$5.55 bn	+154.4%
Geode Capital Management	57.47 k	$1.67 mm	+0.9%
Shakespeare Wealth Management	44.44 k	$1.29 bn	0.0%
Millennium Management	43.32 k	$1.26 mm	-30.7%
BLK Blackrock	40.81 k	$1.18 bn	+23.1%
Bridgeway Capital Management	35.50 k	$1.03 bn	NEW
HBW Advisory Services	24.63 k	$714.00 k	+7.0%
STT State Street	22.22 k	$644.47 mm	NEW
HighTower Advisors	17.40 k	$505.00 mm	0.0%

Largest transactions	Shares	Bought/sold	Change
Fourthstone	191.46 k	+116.21 k	+154.4%
Jacobs Asset Management	0.00	-114.46 k	EXIT
Bridgeway Capital Management	35.50 k	+35.50 k	NEW
STT State Street	22.22 k	+22.22 k	NEW
Millennium Management	43.32 k	-19.19 k	-30.7%
Susquehanna International	16.40 k	+16.40 k	NEW
BK Bank Of New York Mellon	0.00	-10.96 k	EXIT
Context BH Capital Management	8.91 k	+8.91 k	NEW
BLK Blackrock	40.81 k	+7.65 k	+23.1%
Dimensional Fund Advisors	7.34 k	+7.34 k	NEW

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

COFS insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
19 May 23	Greenland Adom	Common Stock	Buy	Acquire P	Yes	No	21.15	200	4.23 k	3,190.134
18 May 23	Bradley F. McGinnis	Common Stock	Buy	Acquire P	Yes	No	21.17	1,000	21.17 k	13,301
5 May 23	Hendon Jack	Common Stock	Buy	Acquire P	Yes	No	22.59	500	11.30 k	14,068.362
4 May 23	Essex Bruce John Jr	Common Stock	Buy	Acquire P	Yes	No	21.51	4,500	96.80 k	231,349
4 May 23	Essex Bruce John Jr	Common Stock	Buy	Acquire P	Yes	No	21.54	4,500	96.93 k	226,849
30 Apr 23	Burke Michael J Jr	Common Stock	Grant	Acquire A	Yes	No	0	865	0.00	8,479.282
30 Apr 23	Burke Michael J Jr	Common Stock	Payment of exercise	Dispose F	Yes	No	24.23	331	8.02 k	7,614.282