---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-086305"
form_type: "8-K"
ticker: "COFS"
cik: "0000803164"
company_name: "CHOICEONE FINANCIAL SERVICES INC"
filed_at: "2024-07-25T23:59:59+00:00"
generated_at: "2026-05-31T16:31:26.575914+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# ChoiceOne reports Q2 net income $6.6M, EPS $0.87, NIM expands to 2.95%

## Summary
- Net income $6.586M ($0.87 diluted EPS) for Q2 2024 vs $5.213M ($0.69) YoY, up 26.3%.
- GAAP net interest margin 2.95% in Q2 vs 2.67% prior quarter and 2.79% YoY; NII $18.4M aided by swap settlements of $974k.
- Core loans grew organically $12.4M annualized 3.6%; deposits ex-brokered decreased $44.4M due to seasonal public funds.
- Nonperforming loans only 0.16% of total loans; allowance for credit losses 1.12% of loans.
- Bank well-capitalized with risk-based capital ratio 13.2% at June 30, 2024; shareholders' equity $214.5M.

## SEC filing metadata
- accession: 0000950170-24-086305
- form_type: 8-K
- ticker: COFS
- cik: 0000803164
- company_name: CHOICEONE FINANCIAL SERVICES INC
- filed_at: 2024-07-25T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/803164/000095017024086305/0000950170-24-086305-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/803164/000095017024086305/cofs-20240725.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-086305
- JSON: https://secwatch.observer/filing/0000950170-24-086305.json
- Plain text: https://secwatch.observer/filing/0000950170-24-086305.txt

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