ChoiceOne returns to profit, exits $351M rate swaps, as loan growth stalls at 0.3%

Filed May 11, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 12, 2025 · ~2 min read

Key Changes

• high

  Q1 2026 net income of $13.7M vs. $13.9M loss in Q1 2025, which included $17.2M merger charges. Adjusted for one-time items, earnings grew 47% year-over-year as Fentura integration normalized.

  MD&A: Quarterly Results verify on EDGAR →
• high

  Exited entire $351M pay-fixed swap portfolio, recognizing $4.6M gain amortized over six years. Management says move improves balance sheet flexibility and reduces asset sensitivity, signaling shift in rate-risk posture.

  MD&A: Interest Rate Swaps verify on EDGAR →
• high

  Core loans contracted 4.2% annualized in Q1 2026, reversing 10.6% growth in Q1 2025. Twelve-month growth slowed to 0.3% from 11.3%, reflecting weaker demand or tighter underwriting with no specific credit event cited.

  MD&A: Loan Portfolio verify on EDGAR →