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COFS
CHOICEONE FINANCIAL SERVICES INC
34.26
+0.13 +0.38%
USD · close Oct 23
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Work order
18
FLAG · shorts 18
Insiders, 90 days
0
no open-market filings in 90 days
Congress, 90 days
0 / 0
no disclosures naming it
Big money
0 / 15
none of the tracked funds disclose it
Calls on record
0
nobody we score has called it yet
MKT CAP $512.4MP/E 9.3DIV YIELD 3.36%FCF YIELD 9.96%REV TTM $240.3M +35.1%NET INCOME $54.7M +287.1%NET CASH —52W 27.03 – 34.62SEC XBRL · TTM TO Invalid Date
How COFS rewrote its risk factors
Text kept
84%
of sentences unchanged
Added
11
new sentences
Dropped
22
sentences removed
Length
−217
words, now 5,336
New in FY2025
- An economic downturn within Michigan caused by inflation, recession or a recessionary environment, trade tariffs, trade policy or retaliatory measures by trade partners, unemployment, changes in financial or capital markets or other factors, could negatively impact household and corporate incomes.
- We are subject to regulation by the Federal Reserve Board, the FDIC and the DIFS, in addition to other regulatory and self-regulatory organizations.
- At December 31, 2025, the Company had $90.4 million in unrealized losses on its investment securities, including $52.8 million in unrealized losses on available for sale securities, $37.2 in unrealized losses on held to maturity securities, and $471,000 in unrealized losses on equity securities.
- Additions to the allowance for credit losses for our investment securities may need to be taken in the future, which could have a material adverse effect on our results of operations or financial condition.
- As of December 31, 2025, the Company had approximately $1.8 billion of commercial and construction real estate loans outstanding, which represented approximately 59.6% of its loan portfolio.
- As of that same date, the Company had approximately $728.0 million in residential real estate loans outstanding, or approximately 24.1% of its loan portfolio.
- A downturn in the real estate market, especially in Michigan, could cause us to incur losses and have a material adverse effect on our results of operations or financial condition.
- The Company’s commercial and industrial loan portfolio, including commercial mortgages, was approximately $352.6 million at December 31, 2025, comprising approximately 11.7% of its total loan portfolio.
- Global cybersecurity threats and incidents can range from uncoordinated individual attempts to gain unauthorized access to information technology (IT) systems to sophisticated and targeted measures known as advanced persistent threats, directed at the Company, the Bank and/or its third party service providers.
- The potential consequences of a material cybersecurity incident include reputational damage, litigation with third parties, regulatory criticism or proceedings and increased cybersecurity protection and remediation costs, which in turn could materially adversely affect our results of operations.
- The market price of the Company’s common stock may fluctuate significantly in response to a number of factors, including: • Variations in quarterly or annual operating results • Changes in dividends per share • Changes in interest rates • Changes in inflation levels • Trade tariffs, trade policy or retaliatory measures by trade partners • War or military conflicts, including the recent escalation of conflicts in the middle east • New developments, laws or regulations in the banking industry • Acquisitions or business combinations involving the Company or its competition • Regulatory actions, including changes to regulatory capital levels, the components of regulatory capital and how regulatory capital is calculated • Volatility of stock market prices and volumes • Changes in market valuations of similar companies • New litigation or contingencies or changes in existing litigation or contingencies • Changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies • Rumors or erroneous information • Credit and capital availability • Issuance of additional shares of common stock or other debt or equity securities of the Company • Market conditions • General economic conditions • Turbulence, uncertainty or a lack of confidence within the banking industry The Company’s common stock, while publicly traded, has less liquidity than the average liquidity of stocks listed on the Nasdaq Stock Market.
Gone since FY2024
- An economic downturn within Michigan caused by inflation, recession or a recessionary environment, trade tariffs, unemployment, changes in financial or capital markets or other factors, could negatively impact household and corporate incomes.
- We are subject to regulation by the Federal Reserve, the FDIC and the DIFS, in addition to other regulatory and self-regulatory organizations.
- At December 31, 2024, the Company had $116.6 million in unrealized losses on its investment securities, including $61.1 million in unrealized losses on available for sale securities and $55.5 in unrealized losses on held to maturity securities.
- The issuers continue to make timely principal and interest payments on the bonds.
- The fair value is expected to recover as the bonds approach maturity.
- Additions to the allowance for credit losses for our investment securities may need to be taken in the future, which could have a material adverse effect on our results of operations and financial condition.
- As of December 31, 2024, the Company had approximately $918.2 million of commercial and construction real estate loans outstanding, which represented approximately 59.4% of its loan portfolio.
- As of that same date, the Company had approximately $281.7 million in residential real estate loans outstanding, or approximately 18.2% of its loan portfolio.
- The Company’s commercial and industrial loan portfolio, including commercial mortgages, was approximately $228.3 million at December 31, 2024, comprising approximately 14.8% of its total loan portfolio.
- Global cybersecurity threats and incidents can range from uncoordinated individual attempts to gain unauthorized access to information technology (IT) systems to sophisticated and targeted measures known as advanced persistent threats, directed at the Company and/or its third party service providers.
- The potential consequences of a material cybersecurity incident include reputational damage, litigation with third parties and increased cybersecurity protection and remediation costs, which in turn could materially adversely affect our results of operations.
- The Company operates in a highly competitive industry and market area.
- The Company faces substantial competition in all areas of its operations from a variety of different competitors, many of which are larger and may have more financial resources.
- Such competitors primarily include national and regional banks within the various markets where the Company operates, as well as internet banks and other financial technology companies.
- The Company also faces competition from many other types of financial institutions, including savings and loan associations, credit unions, finance companies, brokerage firms, insurance companies and other financial intermediaries.
- The financial services industry could become even more competitive as a result of legislative, regulatory and technological changes and continued consolidation.
- Banks, securities firms and insurance companies can merge under the umbrella of a financial holding company, which can offer virtually any type of financial service, including banking, securities underwriting, insurance (both agency and underwriting) and merchant banking.
- The Company competes with these institutions both in attracting deposits and in making new loans.
- Technology has lowered barriers to entry into the market and made it possible for non-banks to offer products and services traditionally provided by banks, such as automatic transfer and automatic payment systems.
- Many of the Company’s competitors have fewer regulatory constraints and may have lower cost structures, such as credit unions that are not subject to federal income tax.
- Due to their size, many competitors may be able to achieve economies of scale and, as a result, may offer a broader range of products and services as well as better pricing for those products and services than the Company can.
- The market price of the Company’s common stock may fluctuate significantly in response to a number of factors, including: • Variations in quarterly or annual operating results • Changes in dividends per share • Changes in interest rates • Changes in inflation levels • Trade tariffs • New developments, laws or regulations in the banking industry • Acquisitions or business combinations involving the Company or its competition • Regulatory actions, including changes to regulatory capital levels, the components of regulatory capital and how regulatory capital is calculated • Volatility of stock market prices and volumes • Changes in market valuations of similar companies • New litigation or contingencies or changes in existing litigation or contingencies • Changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies • Rumors or erroneous information • Credit and capital availability • Issuance of additional shares of common stock or other debt or equity securities of the Company • Market conditions • General economic conditions • Turbulence, uncertainty or a lack of confidence within the banking industry The Company’s common stock, while publicly traded, has less liquidity than the average liquidity of stocks listed on the Nasdaq Stock Market.
Sentence-level comparison of Item 1A in the two most recent 10-Ks (FY2024 ↗, FY2025 ↗). A reworded sentence counts as one dropped and one added, so heavy edits read as low “kept”. Headings and page furniture are stripped; nothing is summarised by a model.