ChoiceOne Q3 net income $5.8M (+1% YoY), diluted EPS $0.77; core loans grow 19.6% annualized

CHOICEONE FINANCIAL SERVICES INC

2022-Q3 EPS reported $2.26 revenue$8,511,000

Net income $5.813M vs $5.749M in Q3 2021; diluted EPS $0.77 vs $0.75.
Core loans (ex-PPP) grew organically $52.8M or 19.6% annualized in Q3; $205.2M (22.1%) YoY.
Deposits grew $18.2M (3.4% annualized) in Q3; deposit expense up $786K in 9M 2022 vs 9M 2021.
Total assets $1.47B, up $86.3M YoY; shareholders' equity fell to $156.7M from $225.1M due to unrealized securities losses.
Bank remains well-capitalized, total risk-based capital ratio 12.8%; no share repurchases in Q3.

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