---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-001765"
form_type: "8-K"
ticker: "COFS"
cik: "0000803164"
company_name: "CHOICEONE FINANCIAL SERVICES INC"
filed_at: "2023-01-25T23:59:59+00:00"
generated_at: "2026-06-20T10:06:33.932760+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-23-001765
- form_type: 8-K
- ticker: COFS
- cik: 0000803164
- company_name: CHOICEONE FINANCIAL SERVICES INC
- filed_at: 2023-01-25T23:59:59+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/803164/000143774923001765/0001437749-23-001765-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/803164/000143774923001765/cofs20221130_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-001765
- JSON: https://secwatch.observer/filing/0001437749-23-001765.json
- Plain text: https://secwatch.observer/filing/0001437749-23-001765.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/803164/000143774923001765/0001437749-23-001765-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/803164/000143774923001765/0001437749-23-001765-index.htm

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