ChoiceOne posts Q1 GAAP net loss of $13.9M on Fentura merger costs; adjusted EPS rises to $0.87

CHOICEONE FINANCIAL SERVICES INC

2025-Q1 EPS reported -$1.29 revenue$44,881,000

GAAP net loss of $13.9M ($1.30 basic EPS) vs adjusted net income $9.3M ($0.87 adjusted EPS).
Net interest income $26.3M, up 60% YoY; total assets $4.3B after Fentura merger.
Dividend maintained at $0.28/share; annualized yield 3.9% as of 3/31/25.
Chairman Jack Hendon retiring July 5, 2025; Gregory McConnell named Chairman, Roxanne Page Vice-Chairwoman.
Q1 2025 net loss driven by $13.8M in after-tax merger expenses from Fentura acquisition.

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