---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-007227"
form_type: "8-K"
ticker: "COFS"
cik: "0000803164"
company_name: "CHOICEONE FINANCIAL SERVICES INC"
filed_at: "2024-01-25T23:59:59+00:00"
generated_at: "2026-06-06T18:49:39.119229+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# ChoiceOne Q4 net income $5.3M ($0.70 EPS), core loans grow $105M

## Summary
- Net income $5.293M ($0.70 diluted EPS) vs $6.684M ($0.89) a year ago; full-year $21.261M ($2.82) vs $23.640M ($3.15).
- Core loans grew organically $105.2M in Q4 (annualized 32.7%), largest single-quarter organic growth in 125 years.
- Net interest margin (FTE) 2.72%, up 2 bps from Q3; deposit cost rose to 1.57% from 1.36%.
- Nonperforming loans only 0.13% of total loans; provision for credit losses $375,000.
- Plans to consolidate two branches by March 2025, expecting ~$700K annual savings.

## SEC filing metadata
- accession: 0000950170-24-007227
- form_type: 8-K
- ticker: COFS
- cik: 0000803164
- company_name: CHOICEONE FINANCIAL SERVICES INC
- filed_at: 2024-01-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/803164/000095017024007227/0000950170-24-007227-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/803164/000095017024007227/cofs-20240124.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-007227
- JSON: https://secwatch.observer/filing/0000950170-24-007227.json
- Plain text: https://secwatch.observer/filing/0000950170-24-007227.txt

## Key facts
- Earnings Releases
  CHOICEONE FINANCIAL SERVICES INC reported the twelve months ended December 31, 2023 results: net income $21,261,000, EPS $2.82.
  - Period: the twelve months ended December 31, 2023
  - Net income: $21,261,000
  - EPS: $2.82
  - Result: reported results
  source text: ChoiceOne reported net income of $5,293,000 and $21,261,000 for the three and twelve months ended December 31, 2023, compared to $6,684,000 and $23,640,000 for the same periods in 2022. Diluted earnings per share were $0.70 and $2.82 in the three and twelve months ended December 31, 2023, compared to $0.89 and $3.15 per share in the same periods in the prior year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/803164/000095017024007227/0000950170-24-007227-index.htm
- Earnings Releases
  CHOICEONE FINANCIAL SERVICES INC reported the quarter ended December 31, 2023 results: net income $5,293,000, EPS $0.70.
  - Period: the quarter ended December 31, 2023
  - Net income: $5,293,000
  - EPS: $0.70
  - Result: reported results
  source text: ChoiceOne reported net income of $5,293,000 and $21,261,000 for the three and twelve months ended December 31, 2023, compared to $6,684,000 and $23,640,000 for the same periods in 2022. Diluted earnings per share were $0.70 and $2.82 in the three and twelve months ended December 31, 2023, compared to $0.89 and $3.15 per share in the same periods in the prior year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/803164/000095017024007227/0000950170-24-007227-index.htm

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