ChoiceOne Financial's Q2 profit falls on securities loss
COFS•Outlook
- ChoiceOne expects to open a new branch in Troy, Michigan later in 2026.
- The company intends to purchase additional transferable tax credits in 2026 to reduce tax expense.
- It sees slight upward pressure on deposit costs as new and repriced deposits carry higher rates.
Key second-quarter figures
- Q2 EPS: $0.83
- Q2 net income: $12.46 million
- Q2 net interest income: $36.70 million
- Q2 basic EPS: $0.83
- Q2 pretax profit: $15.04 million
- Q2 provision for credit losses: $550,000
Result drivers
- Securities loss — Q2 results included a $1.9 million pretax loss from selling municipal securities to fund loan growth and improve the interest-rate profile.
- — Core loans increased in Q2, reflecting organic production and the purchase of in adjustable-rate mortgages.
