Company: COFS
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0000950170-25-036839
Chunk: 113

Company: CHOICEONE FINANCIAL SERVICES INC
Filing Date: 2025-03-11
Form: 10-K
Item: Item 8
Chunk 113
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 Assets Measured at Fair Value on a Recurring Basis 

        (Dollars in thousands)

        2024

        2023

        Equity Securities Held at Fair Value

        Balance, January 1

        $
        2,756

        $
        2,542

        Total realized and unrealized net gains included in noninterest income

        105

        71

        Net purchases, sales, calls, and maturities

        83

        143

        Balance, December 31

        $
        2,944

        $
        2,756

        Amount of total losses for the period included in earning attributable to the change in   unrealized gains (losses) relating to assets and liabilities still held at December 31,

        $
        38

        $
        5

       Of the Level 3 assets that were held by the Company at December 31, 2024, the net unrealized gain as of December 31, 2024 was $317,000, compared to $212,000 as of December 31, 2023.  The change in the net unrealized gain or loss is recognized in noninterest income or other comprehensive income in the consolidated balance sheets and income statements. Amounts recognized in noninterest income relate to changes in equity securities. A total of $83,000 and $143,000 of Level 3 securities were purchased in 2024 and 2023, respectively.Both observable and unobservable inputs may be used to determine the fair value of positions classified as Level 3 assets and liabilities. As a result, the unrealized gains and losses for these assets and liabilities presented in the tables above may include changes in fair value that were attributable to both observable and unobservable inputs. The Company also has assets that under certain conditions are subject to measurement at fair value on a non-recurring basis. These assets are not normally measured at fair value, but can be subject to fair value adjustments in certain circumstances, such as impairment. Disclosures concerning assets measured at fair value on a non-recurring basis are as follows:Assets Measured at Fair Value on a Non-recurring Basis 

        Quoted Prices

        In Active

        Significant

        Markets for

        Other

        Significant

        Balances at

        Identical

        Observable

        Unobservable

        (Dollars in thousands)
         
        Dates

        Assets

        Inputs