Company: COFS
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0000950170-25-036839
Chunk: 29

Company: CHOICEONE FINANCIAL SERVICES INC
Filing Date: 2025-03-11
Form: 10-K
Item: Item 1
Chunk 29
---
    20,495

    -

    20,495

    Asset-backed securities
     
    228

    -

    -

    -

    228

    Total debt securities
     
    2,745

    22,977

    123,130

    71,359

    220,211

    Mortgage-backed securities
     
    5,300

    72,804

    96,219

    -

    174,323

    Total Held to Maturity
    $
    8,045

    $
    95,781

    $
    219,349

    $
    71,359

    $
    394,534

    Held to Maturity weighted average yields:

    Less than

    1 Year -

    5 Years -

    More than

    1 Year

    5 Years

    10 Years

    10 Years

    Total

    U.S. Government and federal agency
     
    -
     
    %
     
    1.61
     
    %
     
    -
     
    %
     
    -
     
    %
     
    1.61
     
    %

    U.S. Treasury notes and bonds
     
    -

    -

    -

    -

    -

    State and municipal
     
    3.53

    1.99

    2.09

    2.48

    2.24

    Corporate
     
    -

    -

    4.09

    -

    4.09

    Asset-backed securities
     
    1.10

    -

    -

    -

    1.10

    Mortgage-backed securities
     
    5.03

    3.21

    2.24

    -

    2.73

Weighted average yields are calculated based on the fair value of securities available for sale and amortized cost of securities held to maturity which are denoted in the table above. Weighted average yields for tax-exempt securities is computed on a fully tax-equivalent basis at an incremental tax rate of 21% for 2024.

Maturities and Sensitivities of Loans to Changes in Interest Rates

The following schedule presents the maturities of loans as of December 31, 2024. Loans are also classified according to the sensitivity to changes in interest rates