Company Quick10K Filing
ChoiceOne Financial Services
10-Q 2020-03-31 Filed 2020-05-11
10-K 2019-12-31 Filed 2020-03-16
10-Q 2019-09-30 Filed 2019-11-12
10-Q 2019-06-30 Filed 2019-08-09
10-Q 2019-03-31 Filed 2019-05-10
10-K 2018-12-31 Filed 2019-03-18
10-Q 2018-09-30 Filed 2018-11-14
10-Q 2018-06-30 Filed 2018-08-14
10-Q 2018-03-31 Filed 2018-05-15
10-K 2017-12-31 Filed 2018-03-29
10-Q 2017-09-30 Filed 2017-11-14
10-Q 2017-06-30 Filed 2017-08-10
10-Q 2017-03-31 Filed 2017-05-12
10-K 2016-12-31 Filed 2017-03-27
10-Q 2016-09-30 Filed 2016-11-14
10-Q 2016-06-30 Filed 2016-08-12
10-Q 2016-03-31 Filed 2016-05-13
10-K 2015-12-31 Filed 2016-03-28
10-Q 2015-09-30 Filed 2015-11-12
10-Q 2015-06-30 Filed 2015-08-12
10-Q 2015-03-31 Filed 2015-05-13
10-K 2014-12-31 Filed 2015-03-13
10-Q 2014-09-30 Filed 2014-11-12
10-Q 2014-06-30 Filed 2014-08-13
10-Q 2014-03-31 Filed 2014-05-13
10-K 2013-12-31 Filed 2014-03-31
10-Q 2013-09-30 Filed 2013-11-13
10-Q 2013-06-30 Filed 2013-08-14
10-K 2012-12-31 Filed 2013-03-29
10-Q 2012-09-30 Filed 2012-11-14
10-Q 2012-06-30 Filed 2012-08-14
10-Q 2012-03-31 Filed 2012-05-14
10-K 2011-12-31 Filed 2012-03-28
10-Q 2011-09-30 Filed 2011-11-14
10-Q 2011-06-30 Filed 2011-08-12
10-Q 2011-03-31 Filed 2011-05-16
10-K 2010-12-31 Filed 2011-03-28
10-Q 2010-09-30 Filed 2010-11-15
10-Q 2010-06-30 Filed 2010-08-16
10-Q 2010-03-31 Filed 2010-05-17
10-K 2009-12-31 Filed 2010-03-30
8-K 2020-05-14 Other Events
8-K 2020-04-27 Earnings
8-K 2020-02-06 Earnings
8-K 2020-02-04 Other Events, Exhibits
8-K 2020-01-03 Enter Agreement, Other Events
8-K 2019-10-25 Earnings
8-K 2019-10-01 M&A, Officers, Amend Bylaw, Exhibits
8-K 2019-09-18 Shareholder Vote, Other Events, Exhibits
8-K 2019-09-16 Regulation FD
8-K 2019-08-28 Other Events, Exhibits
8-K 2019-07-24 Earnings
8-K 2019-07-02 Other Events
8-K 2019-05-22 Shareholder Vote
8-K 2019-05-20 Regulation FD
8-K 2019-04-24 Earnings
8-K 2019-03-22 Enter Agreement, Other Events
8-K 2019-03-22 Officers
8-K 2019-03-04 Other Events
8-K 2019-01-28 Regulation FD
8-K 2019-01-23 Earnings
8-K 2018-10-24 Earnings
8-K 2018-10-24 Code of Ethics
8-K 2018-07-25 Earnings
8-K 2018-06-27 Regulation FD
8-K 2018-05-23 Shareholder Vote
8-K 2018-05-21 Regulation FD
8-K 2018-04-25 Earnings, Other Events
8-K 2018-01-24 Officers, Other Events
8-K 2018-01-24 Earnings

ChoiceOne Financial Services Financials

COFS Metrics, Comps, Filings

Quarterly | Annual

Business

ChoiceOne Financial Services, Inc. (“ChoiceOne” or the “Company”) is a financial holding company registered under the Bank Holding Company Act of 1956, as amended (“BHC Act”). The Company was incorporated on February 24, 1986, as a Michigan corporation. The Company was formed to create a bank holding company for the purpose of acquiring all of the capital stock of ChoiceOne Bank (the “Bank”), which became a wholly owned subsidiary of the Company on April 6, 1987. Effective November 1, 2006, the Company merged with Valley Ridge Financial Corp. (“VRFC”), a one-bank holding company for Valley Ridge Bank (“VRB”). In December 2006, VRB was consolidated into the Bank. The Bank owns all of the outstanding common stock of ChoiceOne Insurance Agencies, Inc., an independent insurance agency headquartered in Sparta, Michigan (the “Insurance Agency”).

The Company's business is primarily concentrated in a single industry segment - banking. The Bank is a full-service banking institution that offers a variety of deposit, payment, credit and other financial services to all types of customers. These services include time, savings, and demand deposits, safe deposit services, and automated transaction machine services. Loans, both commercial and consumer, are extended primarily on a secured basis to corporations, partnerships and individuals. Commercial lending covers such categories 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. No material part of the business of the Company or the Bank is dependent upon a single customer or very few customers, the loss of which would have a materially adverse effect on the Company.

The Bank's primary market area lies within Kent, Muskegon, Newaygo, and Ottawa counties in Michigan in the communities where the Bank's offices are located. The Bank serves these markets through fourteen full-service offices. The Bank opened two full-service offices in 2018. The Company and the Bank have no foreign assets or income except for foreign debt securities.


Valuation ($MM)

Market Cap, Enterprise Value

Balance Sheet ($MM)

Assets, Equity

Income Statement ($MM Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($MM Quarterly)

Ops, Inv, Fin

Comps ($'000 TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Virginia National Bankshares (VABK) 99,658 7.1 1% 660,790 585,236 0 0 5,258 10,047 71,803
Juniper Pharmaceuticals (JNP) 98,834 41% 49.7 -1% 67,768 19,275 55,610 22,712 -985 1,629 80,918
Hash Labs (HLAB) 98,593 -24.3 -2,247% 181 419 0 0 -4,067 -4,048 98,439
Nuvera Communications (NUVR) 98,504 0% 7.1 4% 164,114 84,747 48,592 0 6,727 21,163 151,275
ITUS (ITUS) 98,193 0% -9.7 -142% 6,843 1,044 250 0 -9,708 -9,689 93,796
Capital Properties (CPTP) 97,349 0% 30.3 23% 9,785 1,837 3,907 0 2,261 3,127 94,790
Processa Pharmaceuticals (PCSA) 96,996 -40.0 -24% 10,821 2,151 0 0 -2,583 -2,410 96,491
Addentax Group (ATXG) 96,315 14% -113.5 -15% 5,879 8,162 9,240 1,309 -855 -847 96,046
Eaco (EACO) 95,530 28% 6.2 10% 88,765 40,144 215,534 60,071 9,012 14,872 92,780
Cortland Bancorp (CLDB) 95,237 7.1 1% 700,621 626,468 0 0 5,378 10,511 74,729
ChoiceOne Financial Services (COFS) 94,691 0% 8.1 1% 663,589 578,963 3,629 0 5,973 9,668 78,117
Aerkomm (AKOM) 94,280 1% -11.7 -17% 51,277 3,924 1,600 13 -8,941 -7,810 91,529
Invuity (IVTY) 92,683 67% -2.9 -75% 48,729 46,397 40,834 27,211 -36,461 -31,788 93,415
First National (FXNC) 92,475 0% 5.0 1% 777,193 701,877 5,726 0 6,840 12,425 62,102
Nobility Homes (NOBH) 92,404 28% 9.0 11% 55,980 7,733 35,568 10,061 5,899 7,955 71,257
NCL (NCLC) 90,687 0% 4.3 6% 15,931,783 9,700,324 6,385,388 0 973,844 1,432,690 6,107,285
Cannapharmarx (CPMD) 90,342 -12.2 -50% 22,468 9,856 0 0 -11,137 -7,963 97,149
Humanigen (HGEN) 90,224 -12.4 -1,392% 594 13,260 0 0 -8,268 -7,265 89,996
Mattersight (MATR) 89,019 72% -20.5 -39% 28,863 32,587 50,383 36,274 -11,234 -4,549 93,093
Farmers & Merchants Bancshares (FMFG) 89,000 7.8 1% 434,506 385,511 0 0 4,637 8,851 69,405

Balance Sheet ($'000)2011-06-302011-09-302011-12-312012-03-312012-06-302012-09-302012-12-312013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash17,30710,06817,12525,66620,08426,96619,03417,74610,34113,69420,47914,42920,74110,79316,6509,74815,39112,38711,18712,57213,46612,64414,80911,31517,05012,72536,83713,98511,87714,42719,69016,29613,68716,574
Accounts Receivable
Inventory
PP&E12,34312,22712,08011,90811,77511,73619,89212,25312,29412,14220,61411,94711,91711,86421,07811,69811,81111,88521,96512,00911,87212,39423,35312,45912,47312,27124,82013,34813,57114,94728,96416,12515,50215,282
Assets479,416487,035495,914502,685496,573510,311508,913510,389499,754498,735514,575520,349531,922533,419549,640542,935546,984554,791567,746578,858590,423598,664607,371617,726630,067642,052646,544622,742630,837650,186670,544670,420658,497663,589
Accounts Payable
Long-Term Debt
Liabilities423,210429,556438,010444,442437,191449,975448,407448,963439,168437,934453,017457,846467,925468,314483,450475,144478,880485,290497,904507,432518,026525,085535,673544,428554,539565,746569,994547,128554,569573,197590,067587,718572,834578,963
Stockholders' Equity56,20657,47957,90458,24359,38260,33660,50661,42660,58660,80161,55862,50363,99765,10566,19067,79168,10469,50169,84271,42672,39773,57971,69873,29875,52876,30676,55075,61476,26876,98980,47782,70285,66384,626
Income Statement ($'000)2011-06-302011-09-302011-12-312012-03-312012-06-302012-09-302012-12-312013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Revenue1,2901,1461,2601,223
Cost of Revenue
Gross Profit
R&D
SG&A4526484455478453654483429357846758547443895238547558113921195844108145
Tax275275350257700425200426975386975435530588573482514533416452495644571472580616970300344350283281106
Net Income9048861,0191,0151,1501,1221,1041,2351,4251,2011,3461,2481,3841,5541,5561,6421,4311,4501,2221,2741,4451,6831,6881,4461,6351,7201,3671,6581,8332,0141,8281,6371,4871,021
Cash Flow ($'000)2011-06-302011-09-302011-12-312012-03-312012-06-302012-09-302012-12-312013-03-312013-06-302013-09-302013-12-312014-03-312014-06-302014-09-302014-12-312015-03-312015-06-302015-09-302015-12-312016-03-312016-06-302016-09-302016-12-312017-03-312017-06-302017-09-302017-12-312018-03-312018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash Operating2,4113,0003,0633,0981,7971,6848064,7682,2852,5052,1522,2881,0711,9622,3359131,572-1,1195,2921,1491,7402,7462,1191,3282,4201,6843,0602,2547271,7292,964
Cash Investing-15,004-3,886-745-891-7,407-7,600-1,946-3,2382,613-10,867-12,348-4,905-10,696-10,719382664-10,5128,437-12,523-8,997-9,122-10,835-13,628-4,81117,660-1,408-11,438-16,888-1,04412,003-2,480
Cash Financing5,3547,9436,223-7,78912,492-2,016-148-8,935-1,54515,1474,1468,929-32314,614-9,6194,0665,936-2,7188,6168,7426,56010,2548,0159,2184,032-23,1286,27017,184-3,077-16,3412,403