Company: COFS
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0000950170-25-036839
Chunk: 79

Company: CHOICEONE FINANCIAL SERVICES INC
Filing Date: 2025-03-11
Form: 10-K
Item: Item 8
Chunk 79
---
    $
    60,348

    $
    (71,797
    )
     
    $
    160,828

    Net income

    21,261

    21,261

    Other comprehensive income (loss)

    20,219

    20,219

    Shares issued for directors and employee stock plans

    31,472

    566

    566

    Compensation expense for employee stock purchases

    41

    41

    Stock-based compensation expense

    629

    629

    Stock options exercised and issued (1)

    647

    -

    Cash dividends declared ($1.05 per share)

    (7,910
    )

    (7,910
    )

    Balance, December 31, 2023

    7,548,217

    $
    173,513

    $
    73,699

    $
    (51,578
    )
     
    $
    195,634

    Net income

    26,727

    26,727

    Other comprehensive income (loss)

    13,799

    13,799

    Shares issued for directors and employee stock plans

    36,101

    453

    453

    Compensation expense for employee stock purchases

    41

    41

    Stock options exercised and issued (1)

    1,165

    -

    Stock-based compensation expense

    680

    680

    Common stock offering net of costs

    1,380,000

    32,093

    32,093

    Cash dividends declared ($1.09 per share)

    (9,012
    )

    (9,012
    )

    Balance, December 31, 2024

    8,965,483

    $
    206,780

    $
    91,414

    $
    (37,779
    )
     
    $
    260,415

(1)The amount shown represents the number of shares issued in cashless transactions where some taxes are netted on a portion of the exercises.

See accompanying notes to consolidated financial statements.

 45

ChoiceOne Financial Services, Inc.

Consolidated Statements of Cash Flows

 46

    Year Ended

    (Dollars in thousands)
    December 31,

    2024