ChoiceOne Bank is headquartered in SPARTA and is the 7th largest bank in the state of Michigan. It is also the 461st largest bank in the nation. It was established in 1898 and as of June of 2024, it had grown to 367 employees at 30 locations. ChoiceOne Bank has an A health rating.
| Overall | |
|---|---|
| FDIC Certificate # | 1014 |
| Year Established | 1898 |
| Employees | 367 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.99% |
| Return on Equity - YTD | 11.33% |
| Annual Interest Income | $58.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $2.62B$2.48B |
| Loans | Q2 2024vs Q2 2023 | $1.43B$1.26B |
| Deposits | Q2 2024vs Q2 2023 | $2.13B$2.1B |
| Equity Capital | Q2 2024vs Q2 2023 | $243.3MM$201.3MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $16.2MM$14.6MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $2.1MM$1.6MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $272K$266K |
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