Core Viewpoint - ChoiceOne Financial Services, Inc. reported quarterly earnings of $0.87 per share, exceeding the Zacks Consensus Estimate of $0.76 per share, and showing an increase from $0.69 per share a year ago [1] Group 1: Earnings Performance - The quarterly report represents an earnings surprise of 14.47%, with the company previously expected to post earnings of $0.59 per share but actually producing $0.74, resulting in a surprise of 25.42% [4] - Over the last four quarters, the company has surpassed consensus EPS estimates four times [5] - The current consensus EPS estimate for the upcoming quarter is $0.81, with expected revenues of $22.2 million, and for the current fiscal year, the estimate is $3.02 on revenues of $86.5 million [10] Group 2: Revenue Performance - ChoiceOne Financial Services posted revenues of $22.45 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 3.95%, compared to revenues of $19.58 million a year ago [5] - The company has topped consensus revenue estimates three times over the last four quarters [5] Group 3: Industry Outlook - The Zacks Industry Rank for Financial - Miscellaneous Services is currently in the top 40% of over 250 Zacks industries, indicating a favorable outlook for the industry [3] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that investors can track these revisions or rely on tools like the Zacks Rank [8] Group 4: Stock Performance - ChoiceOne Financial Services shares have added about 1.6% since the beginning of the year, while the S&P 500 has gained 13.8%, indicating underperformance relative to the broader market [6] - The current status of estimate revisions is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [9]

SPARTA, Mich. and FENTON, Mich., July 25, 2024 /PRNewswire/ -- ChoiceOne Financial Services, Inc. (NASDAQ: COFS) ("ChoiceOne"), the parent company of ChoiceOne Bank, and Fentura Financial, Inc. (OTCQX: FETM) ("Fentura"), the parent company of The State Bank, today announced the signing of a definitive merger agreement pursuant to which ChoiceOne and Fentura will merge in an all-stock transaction. The agreement was unanimously approved by the boards of directors of both companies. Subject to NASDAQ independe ...

Merger Agreement - ChoiceOne Financial Services, Inc. and Fentura Financial, Inc. have signed a definitive merger agreement, where each share of Fentura common stock will be converted into 1.35 shares of ChoiceOne common stock, valuing the transaction at approximately $180.4 million [1][8] - The proposed transaction is valued at $40.18 per share of Fentura common stock based on ChoiceOne's closing price of $29.76 on July 24, 2024 [1] Strategic Rationale - The merger aims to combine two well-established banks with over 125 years of customer service, enhancing service offerings and expertise within their communities [2][4] - The transaction will strengthen ChoiceOne's presence in the suburbs of Detroit and expand into the markets of Flint and Saginaw [4] Financial Advisors and Legal Counsel - Janney Montgomery Scott LLC is serving as financial advisor and Warner Norcross + Judd LLP as legal counsel for ChoiceOne [2] - Hovde Group, LLC is the financial advisor and Dickinson Wright PLLC is the legal counsel for Fentura [2] Market Position - Upon completion, the merger will create the third largest publicly traded bank in Michigan with approximately $4.3 billion in consolidated total assets and 56 offices across Western, Central, and Southeastern Michigan [17] Shareholder and Regulatory Approval - The proposed merger is subject to approval from the shareholders of both companies and necessary regulatory approvals, with an expected closing in the first quarter of 2025 [17] Cultural Compatibility - Both companies share similar cultures and values, focusing on customer service and community engagement, which is seen as a crucial factor in the merger [18]

EXHIBIT 99.1 Financial Highlights "As we navigate through the evolving economic landscape, our bank has achieved consistent growth due to our strong team, technology, and relationships we have with our customers. Our strategic efforts have improved our net interest margin, bolstered by the use of derivative instruments which contribute positive cashflow. These steps have strengthened our financial base, so that ChoiceOne is well positioned to handle the market's fluctuations in different rate environments," ...

Deposits, excluding brokered deposits, decreased $44.4 million or an annualized 8.3% in the second quarter of 2024 and increased $64.5 million or 3.2% during the twelve months since June 30, 2023. The decrease in deposits in the second quarter was largely public funds including schools and townships which historically fluctuate with summer tax bill collection in July. The increase in deposits in the trailing twelve months is a combination of new business and recapture of deposit losses from the prior year. ...

"DPT is known for building human-centered solutions," said McGraw. "As the exclusive reseller of Metriciti, our team will work exclusively with financial institutions to ensure their lead to loan process is executed within the Metriciti ecosystem. We will also provide ongoing support. Our vision is to usher in a new era of financial services. We believe that financial institutions, like many other industries, not only need to keep pace with change but lead it." Post this Pictured from left to right: Josh Hu ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks. ChoiceOne Financial Services (COFS) is a stock many investors are watching right now. COFS is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with P/E ratio of 8.56 right now. For comparison, its in ...

SPARTA, Mich., June 7, 2024 /PRNewswire/ -- ChoiceOne Financial Services, Inc., and ChoiceOne Bank (NASDAQ: COFS) ("ChoiceOne") are pleased to announce 13 scholarships have been awarded in the Annual ChoiceOne Scholarship Program, offered to provide needs-based scholarships for graduating seniors in the communities the Bank serves in West and Southeast Michigan. "As the local community bank, we have been offering this program for many years now," said ChoiceOne Bank President Michael J. Burke, Jr. "ChoiceOn ...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers. Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use fundamental analysis and traditional va ...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers. Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Valu ...