ChoiceOne Q2 net income falls 7.9% to $12.5M on $1.9M securities loss; core loans up 11.9%

Filed August 10, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 8, 2025 · ~2 min read

Key Changes

• high

  Net income declined 7.9% to $12.5M ($0.83/share, down 7.8%) in Q2 2026 from $13.5M a year earlier. Management sold ~$25M of 2.28%-yielding municipals to fund adjustable-rate mortgage purchases and improve the interest rate profile.

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

  Core loans grew 11.9% annualized in Q2 2026 (vs. a 1% annualized decline in Q2 2025), including a $40M purchase of seasoned adjustable-rate mortgages from another community bank. Twelve-month growth slowed to 3.5% from 10.0% organic growth in the prior year, reflecting the baseline comparison against post-merger balances.

  MD&A: Loan Growth verify on EDGAR →
• high

  Net interest margin compressed 7bp to 3.59% from 3.66%, driven primarily by a 12bp decline in purchase-loan accretion contribution (24bp vs. 36bp). Accretion income fell to $2.4M from $3.5M in Q2 2025; $48M of accretion remains to be recognized over the life of the purchased loan portfolio.

  MD&A: Net Interest Margin verify on EDGAR →