Company: COFS
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0000950170-25-036839
Chunk: 74

Company: CHOICEONE FINANCIAL SERVICES INC
Filing Date: 2025-03-11
Form: 10-K
Item: Item 8
Chunk 74
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 at fair value (Note 2)

    479,117

    514,598

    Securities held to maturity, at amortized cost (Note 2)

    394,534

    407,959

    Federal Home Loan Bank stock

    9,383

    4,449

    Federal Reserve Bank stock

    5,307

    5,065

    Loans held for sale

    7,288

    4,710

    Loans to other financial institutions

    39,878

    19,400

    Core Loans

    1,505,762

    1,391,253

      Total loans held for investment (Note 3)

    1,545,640

    1,410,653

    Allowance for loan losses (Note 3)

    (16,552
    )

    (15,685
    )

      Loans, net

    1,529,088

    1,394,968

    Premises and equipment, net (Note 5)

    27,099

    29,750

    Other real estate owned, net (Note 7)

    473

    122

    Cash value of life insurance policies

    44,896

    45,074

    Goodwill (Note 6)

    59,946

    59,946

    Core deposit intangible, net (Note 6)

    1,096

    1,854

    Other assets

    60,483

    45,273

    Total assets
     
    $
    2,723,243

    $
    2,576,706

    Liabilities

    Deposits – noninterest-bearing (Note 9)
     
    $
    524,945

    $
    547,625

    Deposits – interest-bearing (Note 9)

    1,652,647

    1,550,985

    Brokered deposits (Note 9)

    36,511

    23,445

    Total deposits

    2,214,103

    2,122,055

    Borrowings (Note 10)

    175,000

    200,000

    Subordinated debentures (Note 11)

    35,752