ChoiceOne Q3 2024 snapshot: $2.73B assets, 1.09% ROAA, pending Fentura merger

CHOICEONE FINANCIAL SERVICES INC

Total assets $2.726B, deposits $2.208B, gross loans $1.51B as of Sept 30, 2024.
Q3 2024 annualized ROAA 1.09%, ROAE 12.36%; adjusted ROAA 1.19%, ROAE 13.42%.
Core loan growth 14.0% trailing 12 months; non-brokered deposits grew 19.5% annualized in Q3.
Net interest margin (tax-equivalent) 3.23% in Q3 2024; efficiency ratio 60.80% (adjusted 58.22%).
Pending merger with Fentura Financial ($1.8B assets) announced July 25, subject to approvals.

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