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what it is
ChoiceOne is a community bank that takes deposits, makes loans, processes payments, and sells investment and insurance products across Michigan.
how it gets paid
Last year Choiceone Financial made $228M in revenue. commercial lending was the main engine at $91M, or 40% of sales.
why it's growing
Revenue grew 63.6% last year. Revenue increased 59% vs. prior year. EPS rose 8% vs. prior year.
what just happened
Revenue hit $167M and EPS reached $1.05, showing the larger bank is actually showing up in the numbers.
At a glance
B+ balance sheet — decent shape, but not bulletproof
55/100 earnings predictability — expect surprises
20.0x trailing p/e — priced about right
4.3% dividend yield — cash in your pocket every quarter
$1.49 fy2025 eps est
xvary composite: 51/100 — below average
What they do
ChoiceOne is a community bank that takes deposits, makes loans, processes payments, and sells investment and insurance products across Michigan.
This is a relationship bank, not an app icon. It runs 56 offices across Michigan and manages $4.41 billion in assets, which means your checking account, loan, and local branch are tied together. Switching costs (moving your money and borrowing history) → hassle and paperwork → people stay longer than they say they will.
How they make money
$228M
annual revenue · their business grew +63.6% last year
commercial lending
$91M
consumer lending
$50M
deposit services
$43M
payment and transaction services
$25M
insurance and wealth products
$19M
The products that matter
community banking franchise
ChoiceOne Bank
$228M annual revenue
This is the operating engine behind essentially the entire $228M revenue base. If lending, deposits, and credit discipline hold up, the thesis holds. If they slip, there is nowhere else for the story to hide.
core engine
commercial lending technology partnership
Metriciti
no separate revenue line
It might matter strategically, but this snapshot gives it no separate contribution inside a $228M bank. Right now it is a narrative item, not a line item.
watch list
Key numbers
4.3%
dividend yield
You are getting paid 4.3% a year to wait, which matters more when the stock trades at 20.0 times trailing earnings.
$56M
long-term debt
Long-term debt is 12% of capital, which means leverage is present but not the main thing steering the story.
$228M
annual revenue
Annual revenue rose 63.6%, which tells you this bank is much larger now than it was a year ago.
$1.49
FY2025 EPS est.
Expected earnings per share of $1.49 put the stock near 20 times earnings, so execution has to stay clean.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 65 / 100
- long-term debt $56M (12% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for COFS right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Revenue hit $167M and EPS reached $1.05, showing the larger bank is actually showing up in the numbers.
Quarterly revenue increased 59% vs. prior year. EPS rose 8% vs. prior year, so sales grew much faster than per-share profit.
$167M
revenue
$1.05
eps
n/a
n/a
the number that mattered
The key number was 59% revenue growth, because it shows the expansion is real even if profit growth lagged at 8%.
source: company earnings report, 2026
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What could go wrong
The Fentura deal changed the size of the bank faster than it changed investor confidence. That's the setup. Now management has to prove the bigger revenue base produces steadier numbers.
high
Integration has to become earnings, not just revenue
Revenue rose 63.6% to $228M, and the page itself points to merger-driven growth. If the combined bank does not settle into cleaner execution, the market stops giving credit for size and starts asking harder questions about quality.
At 20.0x trailing earnings, a few more uneven quarters make the stock look full rather than fair.
med
Forecast quality is only middle-of-the-pack
Earnings predictability sits at 55 / 100, and last quarter revenue missed the $43.85M estimate. For a bank, that usually means investors keep a wider margin of safety than management would prefer.
Lower confidence usually means a lower multiple ceiling, even when the dividend looks decent.
med
Small-bank scale leaves less room for mistakes
At roughly $409M in market value, ChoiceOne does not have the scale cushion larger banks enjoy. There is no moat story here. Local execution is the story.
That makes every quarter matter more because a small-cap bank gets judged on consistency fast.
med
The dividend helps, but it does not rescue the thesis
A 4.3% yield gives you income while you wait. It does not make a 20.0x earnings multiple automatically cheap, and it does not cancel out weak predictability.
If execution stays uneven, income investors get paid while valuation investors stay skeptical.
three things matter most: whether the merger settles into cleaner quarters, whether predictability improves from 55 / 100, and whether a no-moat bank deserves 20.0x earnings.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
quarterly revenue needs to get back above the miss narrative
The latest print was $42.94M versus a $43.85M estimate. One miss is noise. Two or three turns into a pattern.
calendar
next earnings report
The next quarter is where management has to show the merger is settling down. You want cleaner numbers and simpler explanations.
trend
whether 63.6% growth normalizes without falling apart
That growth rate is loud for community banking. The key question is not whether it stays that high. The key question is whether the higher revenue base sticks.
risk
predictability staying stuck at 55 / 100
If forecast quality does not improve, the stock can keep trading like a wait-and-see bank even with a 4.3% yield.
Analyst rankings
earnings predictability
55 / 100
Earnings are harder to model here than you want from a bank. In human-speak, analysts do not see a clean, steady earnings machine yet.
risk rank
3
That reads as middle-of-the-road safety. Not fragile, not a bunker.
balance sheet
B+
Good enough to keep operating from a stable base, not good enough to make you forget the integration story.
source: institutional data
Institutional activity
institutional ownership data for COFS is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$30
current price
n/a
target midpoint · n/a from current
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