secwatch.observer — SEC 8-K summary
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Issuer:     CHOICEONE FINANCIAL SERVICES INC (COFS)
CIK:        0000803164
Form:       8-K
Filed at:   2023-01-25T23:59:59+00:00
Accession:  0001437749-23-001765
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/803164/000143774923001765/0001437749-23-001765-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/803164/000143774923001765/cofs20221130_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-001765

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer