Company: COFS
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0000950170-25-036839
Chunk: 45

Company: CHOICEONE FINANCIAL SERVICES INC
Filing Date: 2025-03-11
Form: 10-K
Item: Item 7
Chunk 45
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    1,642

    4.61

    35,382

    1,636

    4.62

    35,211

    1,491

    4.23

    Other

    18,355

    961

    5.23

    12,258

    651

    5.31

    -

    -

    0.00

    Interest-bearing liabilities

    1,908,120

    46,661

    2.45

    1,754,191

    33,095

    1.89

    1,599,546

    7,746

    0.48

    Demand deposits

    519,709

    546,926

    582,992

    Other noninterest-bearing liabilities

    14,180

    15,522

    12,421

    Total liabilities

    2,442,009

    2,316,639

    2,194,959

    Shareholders' equity

    226,547

    177,201

    178,415

    Total liabilities and shareholders' equity
     
    $
    2,668,556

    $
    2,493,840

    $
    2,373,374

    Net interest income (tax-equivalent basis) (Non-GAAP) (1)

    $
    75,981

    $
    67,415

    $
    68,979

    Net interest margin (tax-equivalent basis) (Non-GAAP) (1)

    3.01
     
    %

    2.83
     
    %

    3.09
     
    %

    Reconciliation to Reported Net Interest Income

    Net interest income (tax-equivalent basis) (Non-GAAP) (1)

    $
    75,981

    $
    67,415

    $
    68,979

    Adjustment for taxable equivalent interest

    (1,539
    )

    (1,530
    )

    (1665
    )

    Net interest income  (GAAP)

    $
    74,442

    $
    65,885

    $
    67,314

    Net interest margin (GAAP)