ChoiceOne Financial Services, Inc. (COFS) financial statements (2022 and earlier)

Company profile

Business Address 109 E DIVISION
SPARTA, MI 49345-0186
State of Incorp. MI
Fiscal Year End December 31
SIC 6022 - State Commercial Banks (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments408262203715
Cash and cash equivalents328060203715
Short-term investments833   
Total current assets:408262203715
Noncurrent Assets
Property, plant and equipment302924161313
Intangible assets, net (including goodwill)646653141414
Goodwill606153141414
Intangible assets, net (excluding goodwill)45    
Total noncurrent assets:949577302726
Other undisclosed assets2,2331,7421,247621583566
TOTAL ASSETS:2,3671,9191,386671647607
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt 03352720
Total current liabilities: 03352720
Noncurrent Liabilities
Other undisclosed liabilities2,1451,6921,161585543516
Total liabilities:2,1451,6921,194590570536
Stockholders' equity
Stockholders' equity attributable to parent, including:222227192807772
Accumulated other comprehensive income (loss)(3)111(1)0(1)
Retained earnings523728272626
Other undisclosed stockholders' equity attributable to parent172179163555046
Total stockholders' equity:222227192807772
TOTAL LIABILITIES AND EQUITY:2,3671,9191,386671647607

Income statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues706635262827
Net investment income655632252220
Financial services revenue67
Cost of revenue(0)(4) (0)(0) 
Provision for loan, lease, and other losses(0)(4) (0)
Financial services costs(0) 
Gross profit:696235262827
Operating expenses(18)(19)(11)(7)(16)(17)
Operating income:514224191111
Nonoperating income
(Bank Owned Life Insurance Income)
11100 
Interest and debt expense(4)(5)(5)(2)(1)(1)
Other undisclosed loss from continuing operations before equity method investments, income taxes (20)(11)(8)(2)(1)
Income from continuing operations before equity method investments, income taxes:48198898
Other undisclosed loss from continuing operations before income taxes(22)     
Income from continuing operations before income taxes:26198898
Income tax expense(4)(3)(1)(1)(2)(2)
Net income available to common stockholders, diluted:22167766

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income:22167766
Other comprehensive income (loss)(14)102(1)1(2)
Comprehensive income:8259774
Other undisclosed comprehensive loss, net of tax, attributable to parent(0)     
Comprehensive income, net of tax, attributable to parent:8259774

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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