ChoiceOne Financial Services, Inc. operates as the bank holding company for ChoiceOne Bank, a chartered community bank that provides various banking services to corporations, partnerships, and individuals in Michigan. The company offers various deposit products, including time, savings, and demand deposits. It also provides commercial loans, such as business, industry, agricultural, construction, inventory, and real estate loans; consumer loans, including direct and indirect loans to consumers and purchasers of residential and real properties; and mortgage loans.
Type
Public
HQ
Sparta, US
Founded
1898
Size (employees)
126 (est)
ChoiceOne was founded in 1898 and is headquartered in Sparta, US
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Key People/Management at ChoiceOne

Kelly Potes

Kelly Potes

President & CEO
Lee Braford

Lee Braford

SVP Chief Credit Officer
Sheila Clark

Sheila Clark

SVP Human Resources Director
Adom Greenland

Adom Greenland

SVP Chief Operating Officer
Mary Johnson

Mary Johnson

SVP Operations / Cashier
Thomas Lampen

Thomas Lampen

SVP Chief Financial Officer
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ChoiceOne Office Locations

ChoiceOne has an office in Sparta
Sparta, US (HQ)
109 E Division St
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ChoiceOne Financials and Metrics

ChoiceOne Financials

ChoiceOne's revenue was reported to be $28.19 m in FY, 2016 which is a 4.2% increase from the previous period.
USD

Revenue (Q1, 2018)

7.3 m

Gross profit (Q1, 2018)

7 m

Gross profit margin (Q1, 2018), %

94.7%

Net income (Q1, 2018)

1.7 m

EBIT (Q1, 2018)

5.3 m

Market capitalization (30-Oct-2017)

77.7 m

Closing share price (30-Oct-2017)

22.4

Cash (31-Mar-2018)

14 m
ChoiceOne's current market capitalization is $77.7 m.
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

27.1 m28.2 m

Revenue growth, %

4%

Cost of goods sold

990 k969 k

Gross profit

26.1 m27.2 m
Quarterly
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q3, 2017Q1, 2018

Revenue

6.7 m6.8 m6.8 m7.1 m7.2 m6.9 m7.3 m

Cost of goods sold

253 k246 k241 k247 k236 k306 k385 k392 k

Gross profit

6.4 m6.6 m6.5 m6.8 m7 m6.6 m7 m

Gross profit Margin, %

96%96%96%97%97%96%95%
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

20.5 m16.7 m11.2 m14.8 m

Inventories

369 m

PP&E

12 m11.8 m11.8 m12.6 m

Goodwill

13.7 m13.7 m13.7 m13.7 m
Quarterly
USDQ2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q3, 2017Q1, 2018

Cash

15.4 m12.4 m12.6 m13.5 m12.6 m11.3 m12.7 m14 m

Inventories

335.9 m343 m351.3 m357.2 m362.6 m373.3 m394.1 m386.4 m

PP&E

11.8 m11.9 m12 m11.9 m12.4 m12.5 m12.3 m13.3 m

Goodwill

13.7 m13.7 m13.7 m13.7 m13.7 m13.7 m13.7 m13.7 m
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

5.1 m5.7 m5.7 m6.1 m

Depreciation and Amortization

927 k986 k986 k1.1 m

Cash From Operating Activities

10.4 m7.5 m4 m10.9 m

Purchases of PP&E

(40.7 m)(41.8 m)(70.9 m)(69.5 m)
Quarterly
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q1, 2018

Net Income

2.6 m4.1 m1.6 m3.1 m4.5 m1.3 m2.7 m4.4 m1.4 m1.7 m

Depreciation and Amortization

499 k746 k244 k486 k736 k258 k481 k757 k320 k507 k

Cash From Operating Activities

4.4 m5.5 m2.3 m3.2 m4.8 m5.3 m6.4 m8.2 m2.1 m1.7 m

Cash From Investing Activities

(17.3 m)(27.9 m)382 k1 m(9.5 m)(12.5 m)(21.5 m)(30.6 m)(13.6 m)(1.4 m)
USDY, 2018

Financial Leverage

8.2 x
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ChoiceOne Online and Social Media Presence

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