ChoiceOne Financial Services, Inc. ("ChoiceOne") has reported its financial results for the fourth quarter of 2025, highlighting several significant changes and achievements.
Net income for the three months ended December 31, 2025, was $13,867,000, compared to $7,159,000 for the same period in the prior year. For the year ended December 31, 2025, net income was $28,176,000, compared to $26,727,000 for the prior year.
Diluted earnings per share were $0.92 and $2.01 for the three months ended and year ended December 31, 2025, compared to $0.79 and $3.25 in the same periods in the prior year. Diluted earnings per share excluding merger expenses and merger-related provision for credit losses were $0.92 and $3.68 for the same periods in 2025.
Total assets as of December 31, 2025, were $4.4 billion, representing an increase of $1.7 billion compared to December 31, 2024. This growth was primarily attributed to the merger of Fentura Financial, Inc. (“Fentura”), with and into ChoiceOne on March 1, 2025.
Core loans, excluding held for sale loans and loans to other financial institutions, increased by $55.6 million or 7.6% on an annualized basis during the fourth quarter of 2025 and grew organically by $86.1 million or 5.7% during the twelve months ended December 31, 2025. Additionally, core loans grew by $1.4 billion due to the merger on March 1, 2025.
Deposits, excluding brokered deposits, increased by $760,000 as of December 31, 2025, compared to September 30, 2025, and by $1.3 billion compared to December 31, 2024, largely as a result of the merger.
Shareholders’ equity was $465.4 million as of December 31, 2025, a significant increase from $260.4 million on December 31, 2024. This growth was primarily driven by the merger, where ChoiceOne issued 6,070,836 shares of common stock on March 1, 2025, valued at $193.0 million.
Noninterest income increased by $1.1 million and $6.7 million for the three months ended and year ended December 31, 2025, compared to the same periods in the prior year. This increase was partly driven by higher interchange income and trust income as a result of the merger.
Noninterest expense increased by $10.0 million and $54.0 million for the three months ended and year ended December 31, 2025, compared to the same periods in 2024, largely due to merger-related expenses of $17.4 million during 2025.
Today the company's shares have moved -0.42% to a price of $28.53. If you want to know more, read the company's complete 8-K report here.
