ChoiceOne Q4 net income $6.7M, EPS $0.89; core loan growth 20.3% annualized

CHOICEONE FINANCIAL SERVICES INC

2022-FY EPS reported $3.15 revenue$89,132,000

Net income $6.7M in Q4 2022 vs $5.0M in Q4 2021; diluted EPS $0.89 vs $0.66.
Full year 2022 net income $23.6M, EPS $3.15 vs $22.0M, $2.86 in 2021.
Core loans grew organically $57.4M in Q4 (20.3% annualized) and $206.1M for 2022.
Deposits rose $65.7M for 2022 but declined $38.7M in Q4 due to seasonality and competition.
Expects CECL adoption on Jan 1, 2023 to increase loan loss reserve by $6.5-7.0M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CHOICEONE FINANCIAL SERVICES INC reported the three months ended December 31, 2022 results: net income $6,684,000, EPS $0.89.

Period: the three months ended December 31, 2022
Net income: $6,684,000
EPS: $0.89
Result: reported results

Exact text from the filing

ChoiceOne reported net income of $6,684,000 and $23,640,000 for the three and twelve months ended December 31, 2022, compared to $5,012,000 and $22,042,000 for the same periods in 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CHOICEONE FINANCIAL SERVICES INC reported the twelve months ended December 31, 2022 results: net income $23,640,000, EPS $3.15.

Period: the twelve months ended December 31, 2022
Net income: $23,640,000
EPS: $3.15
Result: reported results

Exact text from the filing

Diluted earnings per share were $0.89 and $3.15 in the three and twelve months ended December 31, 2022, compared to $0.66 and $2.86 per share in the same periods in the prior year.

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39 earnings releases filed in the last 30 days. Browse all earnings releases →

CHOICEONE FINANCIAL SERVICES INC filing history →

Source: SEC EDGAR

accession 0001437749-23-001765

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