---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-055008"
form_type: "8-K"
ticker: "COFS"
cik: "0000803164"
company_name: "CHOICEONE FINANCIAL SERVICES INC"
filed_at: "2023-10-25T23:59:59+00:00"
generated_at: "2026-06-09T12:29:17.198252+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# ChoiceOne Q3 net income down 12% to $0.68 EPS; core loans grow 19.8%

## Summary
- Net income $5.1M ($0.68 diluted EPS) vs $5.8M ($0.77) in Q3 2022.
- Net interest margin (FTE) fell to 2.70% from 2.86% in Q2 2023.
- Core loans grew organically $60.6M or 19.8% annualized during Q3.
- Deposits (ex-brokered) increased $48.9M or 9.6% annualized in Q3.
- Asset quality strong: nonperforming loans 0.14%, annualized charge-offs 0.05%.

## SEC filing metadata
- accession: 0000950170-23-055008
- form_type: 8-K
- ticker: COFS
- cik: 0000803164
- company_name: CHOICEONE FINANCIAL SERVICES INC
- filed_at: 2023-10-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/803164/000095017023055008/0000950170-23-055008-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/803164/000095017023055008/cofs-20231025.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-055008
- JSON: https://secwatch.observer/filing/0000950170-23-055008.json
- Plain text: https://secwatch.observer/filing/0000950170-23-055008.txt

## Key facts
- Earnings Releases
  CHOICEONE FINANCIAL SERVICES INC reported the quarter ended September 30, 2023 results: net income $5,122,000, EPS $0.68.
  - Period: the quarter ended September 30, 2023
  - Net income: $5,122,000
  - EPS: $0.68
  - Result: reported results
  source text: ChoiceOne reported net income of $5,122,000 and $15,968,000 for the three and nine months ended September 30, 2023, compared to $5,813,000 and $16,956,000 for the same periods in 2022. Diluted earnings per share were $0.68 and $2.12 in the three and nine months ended September 30, 2023, compared to $0.77 and $2.26 per share in the same periods in the prior year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/803164/000095017023055008/0000950170-23-055008-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.