ChoiceOne Financial Services Q3 net income flat, margin rises
COFS•ChoiceOne Financial Services reported Q3 net income of $14.55 million and EPS of $0.97, both nearly flat year over year, while net interest margin rose to 3.67% from 3.59% in the prior quarter. The company expects $1.8 million in loan-accretion interest income for the rest of 2026 and $6.0 million in 2027.
1. Quarterly results
ChoiceOne Financial Services reported Q3 net income of $14.55 million, EPS of $0.97 and net interest income of $38.44 million. Net interest margin rose to 3.67% from 3.59% in the prior quarter. The company attributed the margin increase to loan growth and steady funding costs.
2. Outlook and capital
The company expects $1.8 million in interest income from loan accretion for the remainder of 2026 and estimates $6.0 million in 2027. It plans to purchase tax credits to reduce tax expense for the rest of 2026. ChoiceOne repurchased 40,000 shares for $1.3 million in Q3.
