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Get filing alertsChoiceOne reports Q3 net income of $14.5M, NIM expands 8 bps to 3.67%
Filed October 30, 2026 · Period ending October 30, 2026 · ~1 min read
Key Changes
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Q3 2026 net income was $14.5 million, or $0.97 per diluted share, flat year-over-year on a per-share basis.
Exhibit 99.1 view on EDGAR → -
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GAAP net interest margin expanded 8 basis points sequentially to 3.67%, driven by loan growth and steady funding costs.
Exhibit 99.1 view on EDGAR → -
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Core loans grew $33.6 million in the quarter (4.4% annualized) and $145.4 million over twelve months (5.0%).
Exhibit 99.1 view on EDGAR → -
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Deposits excluding brokered deposits rose $95.7 million (10.9% annualized) in Q3, while brokered deposits fell $25.8 million to $67.5 million.
Exhibit 99.1 view on EDGAR → -
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Asset quality remained strong with annualized net charge-offs of 0.08%; nonperforming loans rose to 1.25% of total loans, partly from acquired credit-deteriorated loans.
Exhibit 99.1 view on EDGAR →
Summary
ChoiceOne Financial Services reported third-quarter 2026 net income of $14.5 million, or $0.97 per diluted share, essentially flat with the prior-year quarter on a per-share basis. The bank's net interest margin improved 8 basis points sequentially to 3.67%, reflecting the benefits of loan growth and stable funding costs. Core loans increased $33.6 million during the quarter, while relationship-based deposits grew $95.7 million, reducing reliance on brokered funding.
Asset quality remained strong, with annualized net charge-offs of just 0.08% of average loans. Nonperforming loans rose to 1.25% of total loans, but 0.40% of that is attributable to purchased loans already identified as credit-deteriorated before acquisition, limiting new credit concern. The results show steady core profitability and balance-sheet growth for the Michigan-based community bank.
Section-by-Section Diff
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
ChoiceOne reported net income of $14.5 million, or $0.97 per diluted share, for the third quarter of 2026, and net income of $40.7 million, or $2.71 per diluted share, for the first nine months of 2026.
The company earned $14.5 million in Q3 2026, flat year-over-year on a per-share basis ($0.97 vs $0.97) despite a slight decline from $14.7 million in Q3 2025. Nine-month net income of $40.7 million compares to $14.3 million in the prior-year period, which was depressed by Fentura Financial acquisition costs.
Added in current filing · view on EDGAR →
GAAP net interest margin expanded 8 basis points from 3.59% in the second quarter of 2026 to 3.67% in the third quarter of 2026, reflecting the benefits of loan growth and steady funding costs.
Net interest margin improved 8 basis points sequentially to 3.67%, driven by loan growth and stable funding costs. This is a key profitability metric for banks and signals improving core earnings power.
Added in current filing · view on EDGAR →
Asset quality remained strong, with annualized net charge-offs of 0.08% of average loans for the third quarter of 2026, while nonperforming loans to total loans, excluding loans held for sale, were 1.25% at September 30, 2026.
Net charge-offs remained very low at 0.08% annualized. Nonperforming loans rose to 1.25% from 1.07% last quarter, but 0.40% of that is attributed to purchased loans already identified as credit-deteriorated before acquisition, limiting new credit concern.
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Figures/quotes linked to EDGAR · Narrative written by AI · Nov 2, 2026 · How we verify