Company: COFS
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0000950170-25-036839
Chunk: 28

Company: CHOICEONE FINANCIAL SERVICES INC
Filing Date: 2025-03-11
Form: 10-K
Item: Item 1
Chunk 28
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 Financial Statements and the notes thereto in Item 8 of this report. The following statistical information should be read in conjunction with Management's Discussion and Analysis of Financial Condition and Results of Operations and the Consolidated Financial Statements and notes in this report.  Average balances used in statistical information are calculated using daily averages, unless otherwise specified.

The Company did not hold investment securities from any one issuer at December 31, 2024, that were greater than 10% of the Company's shareholders' equity, exclusive of U.S. Government and U.S. Government agency securities.

Presented below is the fair value of securities available for sale and amortized cost for held to maturity securities as of December 31, 2024, a schedule of maturities of securities as of December 31, 2024, and the weighted average yields of securities as of December 31, 2024.  Callable securities in the money are presumed called and matured at the callable date.

    Available for Sale Securities maturing within:

    Fair Value

    Less than

    1 Year -

    5 Years -

    More than

    at December 31,

    (Dollars in thousands)
    1 Year

    5 Years

    10 Years

    10 Years

    2024

    U.S. Government and federal agency
    $
    -

    $
    -

    $
    -

    $
    -

    $
    -

    U.S. Treasury notes and bonds
     
    -

    80,502

    -

    -

    80,502

    State and municipal
     
    1,248

    16,732

    74,306

    135,950

    228,236

    Corporate
     
    -

    -

    212

    -

    212

    Asset-backed securities
     
    -

    6,702

    2,495

    -

    9,197

    Total debt securities
     
    1,248

    103,936

    77,013

    135,950

    318,147

    Mortgage-backed securities
     
    3,420

    81,629

    63,212

    12,709

    160,970

    Total Available for Sale
    $
    4,668

    $
    185,565

    $
    140