Company: COFS
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0000950170-25-036839
Chunk: 69

Company: CHOICEONE FINANCIAL SERVICES INC
Filing Date: 2025-03-11
Form: 10-K
Item: Item 7A
Chunk 69
---
     
    408,000

    4
     
    %

    Base rate scenario

    75,950

    -
     
    %
     
    391,800

    -
     
    %

    100 basis point decline

    75,230

    -1
     
    %
     
    368,200

    -6
     
    %

    200 basis point decline

    73,080

    -4
     
    %
     
    330,800

    -16
     
    %

    2023

    Net

    Market

    (Dollars in thousands)
     
    Interest

    Percent

    Value of

    Percent

    Income

    Change

    Equity

    Change

    Change in Interest Rate

    200 basis point rise

    67,650

    -2
     
    %
     
    480,950

    8
     
    %

    100 basis point rise

    68,430

    -1
     
    %
     
    469,920

    5
     
    %

    Base rate scenario

    69,100

    -
     
    %
     
    446,210

    -
     
    %

    100 basis point decline

    66,660

    -4
     
    %
     
    407,940

    -9
     
    %

    200 basis point decline

    66,120

    -4
     
    %
     
    350,800

    -21
     
    %

As of December 31, 2024, the Bank was within its guidelines for immediate rate shocks of 100 and 200 basis points up and down for net interest income and market value of shareholders’ equity scenarios.  As of December 31, 2023, the Bank was within its guidelines for immediate rate shocks of 100 and 200 basis points up and down for net interest income scenarios and was within its guidelines for immediate rate shocks of 100 and 200 basis points up and 100 basis points down for market value of shareholders’ equity scenarios.  The immediate rate shock of 200 basis points down for market value of shareholders’ equity scenarios was higher than the policy guidelines.  The Risk Committee plans to continue to monitor the effect of changes in interest rates on both net interest