Overview
ChoiceOne Q3 net income nearly doubles yr/yr, reaching $14.7 mln
Net interest income rises to $37.6 mln, driven by merger impact
Core loans decline 1.4% annualized in Q3, grew 4.5% over 12 months
Outlook
Company estimates interest income from accretion at $2.3 mln for remainder of 2025
Company anticipates $8.2 mln interest income from accretion in 2026
Result Drivers
MERGER IMPACT - Merger with Fentura Financial significantly increased net interest income and net interest margin due to additional interest income from acquired loans
DEPOSIT SHIFT - Shift from non-interest-bearing to interest-bearing demand deposits due to quarter-end timing and business fluctuations
CORE LOANS DECLINE - Core loans declined by $10.3 million or 1.4% on an annualized basis during Q3 2025
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 EPS | $0.97 | ||
Q3 Net Income | $14.68 mln | ||
Q3 Net Interest Income | $37.59 mln | ||
Q3 Basic EPS | $0.98 | ||
Q3 Pretax Profit | $18.32 mln | ||
Q3 Provision for Credit Losses | $200,000 |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for ChoiceOne Financial Services Inc is $36.00, about 23.8% above its October 23 closing price of $27.43
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago
Press Release: ID:nPn21gCRMa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)