Company: COFS
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0000950170-25-036839
Chunk: 78

Company: CHOICEONE FINANCIAL SERVICES INC
Filing Date: 2025-03-11
Form: 10-K
Item: Item 8
Chunk 78
---
ized gain (loss) on cash flow hedge instruments, net of tax

    6,840

    4,630

    957

    Other comprehensive income (loss), net of tax

    13,799

    20,219

    (69,221
    )

    Comprehensive income (loss)
     
    $
    40,526

    $
    41,480

    $
    (45,581
    )

See accompanying notes to consolidated financial statements.

 44

ChoiceOne Financial Services, Inc.

Consolidated Statements of Changes in Shareholders’ Equity

    Accumulated

    Common

    Other

    Stock and

    Comprehensive

    Number of

    Paid in

    Retained

    Income/(Loss),

    (Dollars in thousands, except per share data)
     
    Shares

    Capital

    Earnings

    Net

    Total

    Balance, January 1, 2022

    7,510,379

    $
    171,913

    $
    52,332

    $
    (2,576
    )
     
    $
    221,669

    Net income

    23,640

    23,640

    Other comprehensive income (loss)

    (69,221
    )

    (69,221
    )

    Shares issued for directors and employee stock plans

    31,618

    461

    461

    Compensation expense for employee stock purchases

    31

    31

    Stock-based compensation expense

    554

    554

    Shares repurchased

    (25,899
    )

    (682
    )

    (682
    )

    Cash dividends declared ($1.01 per share)

    (7,578
    )

    (7,578
    )

    Balance, December 31, 2022

    7,516,098

    $
    172,277

    $
    68,394

    $
    (71,797
    )
     
    $
    168,874

    Adoption of ASU 2016-13 (CECL) on January 1, 2023

    (8,046
    )

    (8,046
    )

    Balance January 1, 2023

    7,516,098

    $
    172,277