ChoiceOne Bank is headquartered in Sparta and is the 9th largest bank in the state of Michigan. It is also the 469th largest bank in the nation. It was established in 1898 and as of June of 2022, it had grown to 380 employees at 32 locations. ChoiceOne Bank has an A health rating.
I have loved banking with this small bank. The people are very nice and honest with me. The manager gave me good advice when I had my purse stolen and signed me up for the identity protection. :)
Decided to switch to a larger national bank after be coming fed up with the customer service, and the overall experience with this bank. I had an issue where they overcharged me by quite a bit, and they were unwilling to work with me at all. I definitely would not recommend.
| Overall | |
|---|---|
| FDIC Certificate # | 1014 |
| Year Established | 1898 |
| Employees | 380 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.02% |
| Return on Equity - YTD | 11.45% |
| Annual Interest Income | $35.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $2.36B$2.12B |
| Loans | Q2 2022vs Q2 2021 | $1.12B$1.01B |
| Deposits | Q2 2022vs Q2 2021 | $2.15B$1.88B |
| Equity Capital | Q2 2022vs Q2 2021 | $186.0MM$229.8MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $7.4MM$8.0MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $1.2MM$1.8MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $0$260.00K |
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