ChoiceOne Financial Services, Inc. Announces Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2018
January 23, 2019 at 09:01 pm
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ChoiceOne Financial Services, Inc. announced unaudited earnings results for the fourth quarter and year ended December 31, 2018. For the quarter, the company reported net interest income of $5,616,000 compared to $5,392,000 a year ago. Net income was $1,828,000 compared to $1,367,000 a year ago. Basic earnings per share was $0.51 compared to $0.38 a year ago. Diluted earnings per share was $0.50 compared to $0.38 a year ago.
For the year, the company reported net interest income of $22,064,000 compared to $20,563,000 a year ago. Net income was $7,333,000 compared to $6,168,000 a year ago. Basic earnings per share was $2.03 compared to $1.70 a year ago. Diluted earnings per share was $2.02 compared to $1.70 a year ago.
ChoiceOne Financial Services, Inc. is a financial holding company of ChoiceOne Bank (the Bank). The Company's subsidiary, ChoiceOne Bank is a full-service banking institution that offers a range of deposit, payment, credit, and other financial services to all types of customers. Its services include time, savings, demand deposits, safe deposit services and automated transaction machine services. The Bank offers both commercial and consumer loans to corporations, partnerships, and individuals. Its commercial lending covers categories, such as business, industry, agricultural, construction, inventory, and real estate. The Bank's consumer loan department makes direct and indirect loans to consumers and purchasers of residential and real property. In addition, the Bank offers trust and wealth management services. The Bank's primary market area lies within Kent, Muskegon, Newaygo and Ottawa counties in western Michigan and Lapeer, Macomb, and St. Clair counties in southeastern Michigan.
CHOICEONE FINANCIAL SERVICES, INC. 
