ChoiceOne Financial Services, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2020
January 30, 2021 at 02:32 am IST
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ChoiceOne Financial Services, Inc. announced earnings results for the fourth quarter ended December 31, 2020. For the fourth quarter, the company announced net interest income was USD 13.992 million compared to USD 11.206 million a year ago. Net income was USD 4.100 million compared to USD 3.027 million a year ago. Basic earnings per share from continuing operations was USD 0.53 compared to USD 0.44 a year ago. Diluted earnings per share from continuing operations was USD 0.52 compared to USD 0.44 a year ago. For the full year, net interest income was USD 51.071 million compared to USD 27.773 million a year ago. Net income was USD 15.613 million compared to USD 7.171 million a year ago. Basic earnings per share from continuing operations was USD 2.08 compared to USD 1.58 a year ago. Diluted earnings per share from continuing operations was USD 2.07 compared to USD 1.58 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. 
