ChoiceOne Bank

What ChoiceOne Bank does

ChoiceOne Financial Services, Inc. (NASDAQ: COFS) is a publicly traded Michigan community bank holding company headquartered in Sparta, Michigan, operating ChoiceOne Bank, ChoiceOne Wealth, and the recently acquired Fentura Financial and The State Bank. Founded in 1898/1899, the company provides a full-service community banking platform spanning personal banking (checking, savings, CDs/IRAs, HSAs), consumer lending (home, auto, RV, student loans, credit cards), mortgage lending, and a broad suite of business banking products including SBA loans, agricultural loans, medical practice financing, working capital lines, treasury management (ACH, Positive Pay, wires, merchant card services, remote deposit capture, lock box), and the integrated Autobooks accounting tool. Wealth management and brokerage services are delivered through a partnership with Ameriprise Financial via the ChoiceOne Wealth subsidiary.

The bank operates a traditional community banking distribution model, anchored by a physical branch network across West, Central, and Southeast Michigan, complemented by digital channels including iOS and Android mobile applications, an online banking platform, financial calculators, and the Plinqit savings tool. The underlying technology stack is largely commodity vendor-supplied (digital banking, treasury management, credit card processing via mycommunitycc.com), with disclosed investment in AI-driven automation for operational modernization. Customer segments are horizontally diversified across individual consumers, small to mid-sized businesses, mortgage customers, and a smaller wealth management segment.

The revenue model is dominated by net interest income from loans and securities net of deposit costs, supplemented by transactional non-interest income (account fees, loan origination, treasury management, merchant services) and recurring fee streams from the Ameriprise wealth management partnership. Following the March 2025 Fentura Financial merger, total assets reached approximately $4.4 billion, making ChoiceOne Michigan's third-largest publicly traded bank. Q1 2026 metrics include a net interest margin of 3.63%, deposit growth of $68.9 million, and a 12.9% total risk-based capital ratio, reflecting a strong capital position supporting continued organic and inorganic growth.

Name

ChoiceOne Bank

Legal name

ChoiceOne Financial Services, Inc.

Website

https://choiceone.com

Company type

Public

Founded year

1899

Operating status

Operating

Headcount range

501–1,000 employees

Short description

ChoiceOne Bank (NASDAQ: COFS) is a Michigan-based community banking corporation offering personal, business, mortgage, and wealth management services across West, Central, and Southeast Michigan, with $4.4 billion in assets post the March 2025 Fentura Financial merger.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

Keywords

• Community banking services
• Consumer lending products
• Commercial lending services
• Treasury management solutions
• Wealth management services

Headquarters

HQ city

Sparta

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Net Interest Income: Primary revenue stream from interest earned on loans and securities minus interest paid on deposits. The March 2025 merger with Fentura Financial significantly expanded the loan portfolio, contributing $1.4 billion in loans and driving substantial year-over-year revenue growth.
2. Non-Interest Income: Fee-based income from banking services including checking account fees, loan origination fees, service charges, treasury management fees, merchant services, and wealth management advisory fees. Diverse fee streams from personal, business, and wealth management product lines.
3. Wealth Management Services: Revenue from private banking, brokerage, and financial advisory services offered through partnership with Ameriprise Financial. Services include investment management, retirement planning, and comprehensive wealth solutions.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

ChoiceOne Bank is a Michigan-based community bank providing personal banking (checking, savings, money market, CDs/IRAs, HSAs), consumer lending (home, auto, RV/recreation, student loans, credit cards), business banking (checking, savings, SBA loans, agricultural, medical, equipment, real estate, express loans), mortgage loans, treasury management (ACH, wires, remote deposit capture, merchant services, lock box), and wealth management services through an Ameriprise Financial partnership. Following the March 2025 merger with Fentura Financial, the bank manages approximately $4.4 billion in total assets and serves customers through a Michigan branch network and digital channels.

Product overview

ChoiceOne Bank operates as a regional community bank offering a unified, multi-channel banking platform with distinct product lines for personal, business, mortgage, and wealth management customers. The core banking products include checking and savings accounts (Secure Plus, Freedom, Personal Savings, Choice Money Market, CDs/IRAs, HSAs), consumer lending (home loans, auto loans, RV/recreation loans, student loans, credit cards), and business banking services (checking, savings, and diverse loan products including SBA, agricultural, medical, and express loans). Treasury Management services provide business payment processing including ACH, wire transfers, merchant services, remote deposit capture, and the integrated Autobooks accounting tool. Wealth management services are delivered through an Ameriprise partnership offering private banking and brokerage. The bank also offers digital banking via web and mobile applications, financial planning calculators, and community programs like the annual scholarship initiative. The product architecture is integrated through the bank's website portal, enabling cross-selling and unified customer experience across segments.

Differentiator

Problem solved

Functional benefit

Brands

• ChoiceOne Wealth: Wealth management and private banking services including brokerage through partnership with Ameriprise Financial
• Express Loans
• Secure Plus

Products and services

• Secure Plus Checking Premium personal checking account with enhanced benefits and security features for individual consumers.
• Freedom Checking Personal checking account providing flexibility for everyday banking transactions by individual consumers.
• Personal Savings Basic savings account for personal banking customers to hold deposits and earn interest.
• Choice Money Market Money market savings account offering competitive interest rates for personal banking customers.
• CDs and IRAs Certificate of Deposit and Individual Retirement Account deposit products for personal savings and retirement planning.
• Health Savings Accounts Tax-advantaged Health Savings Account product for individuals to save for qualified medical expenses.
• Home Loans Residential mortgage loans including home purchase, refinance, and new construction financing for individual borrowers.
• Home Equity Line of Credit Revolving credit line secured by home equity providing flexible borrowing for personal use.
• Auto Loans Vehicle financing loans for personal consumers, with a 4.99% APR promotional rate for qualified borrowers.
• RV & Recreation Loans Financing for recreational vehicles and other recreational purchases for individual consumers.
• Student Loans Education financing loans for students and their families.
• Personal Credit Cards Personal credit card products including Rewards Platinum, Cash Rewards Platinum, Platinum Edition, Secured Platinum, and Visa Signature for individual consumers.
• Small Business Checking Checking account designed for small business customers with features for invoice and payment management.
• Business Checking Full-featured business checking account providing comprehensive banking tools for established businesses.
• Business Savings Savings account for business deposits and reserve accumulation.
• Working Capital Line of Credit Revolving credit line providing working capital financing for business customers.
• Equipment Loans Commercial loans financing business equipment purchases.
• Business Real Estate Loans Commercial real estate financing for business property acquisition and development.
• Agricultural Loans Specialized financing for agricultural operations, farms, and agribusiness borrowers.
• Medical Loans Specialized financing for medical practices and healthcare businesses.
• SBA Loans Small Business Administration loan programs providing government-backed financing to qualified small businesses.
• Express Loans Quick financing option for small businesses to purchase vehicles and equipment.
• Business Credit Cards Credit card products designed for business spending and expense management.
• Treasury Management Cash management services including ACH, Positive Pay, and wire transfers for business customers.
• Merchant Card Services Payment processing services enabling businesses to accept merchant card transactions.
• Lock Box Services Locked box payment processing service for businesses to receive and process incoming payments.
• Remote Deposit Capture Check deposit service allowing businesses to deposit checks remotely via scanning.
• Private Bank Private banking services for high-net-worth individuals, offered in partnership with Ameriprise Financial.
• Brokerage Services Investment brokerage services offered in partnership with Ameriprise Financial for wealth management clients.

Quantifiable outcome

• 3.63% net interest margin achieved in Q1 2026
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability1 record

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis)coreStrategic or Co-development PartnerPartnership in which ChoiceOne Bank awarded Fresh Coast Alliance a $1 million grant in collaboration with FHLBank Indianapolis. This represents a community investment initiative through the FHLBank Indianapolis Affordable Housing Program, demonstrating the bank's commitment to community development and affordable housing in Michigan.
• Ameriprise FinancialcoreChannel Partner/ Reseller/ DistributorPartnership providing wealth management and brokerage services to ChoiceOne Bank customers. Ameriprise Financial advisors operate through the bank's platform offering private banking, investment management, retirement planning, and comprehensive wealth solutions to bank customers.

Scale indicators13 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Huntington Bancshares: Large regional bank holding company (NASDAQ: HBAN) with deep Michigan presence and full banking, mortgage, and wealth management capabilities; competes broadly across all of ChoiceOne's segments.
• Flagstar Bank (New York Community Bancorp): Large regional bank with substantial Michigan retail presence post-acquisition of Flagstar; competes directly with ChoiceOne in mortgage origination and deposit gathering.
• Fifth Third Bank: Major regional bank (NASDAQ: FITB) with significant Michigan retail and commercial operations; sets competitive baseline for deposits, lending pricing, and digital capabilities.

Direct peers

• Mackinac Financial Corporation: Michigan-based community bank holding company (NASDAQ: MFNC) providing personal, business, and mortgage banking; very similar scale and community-bank operating model in the same state.
• Independent Bank Corporation: Michigan-headquartered community bank holding company (NASDAQ: IBCP) with comparable branch-based banking, commercial lending, and mortgage focus across the state; most directly comparable peer in size and geography.
• Mercantile Bank Corporation: Michigan-based commercial bank (NASDAQ: MBWM) with similar mid-sized community banking model emphasizing commercial real estate, business lending, and retail deposits in overlapping Michigan markets.
• Bank of Ann Arbor / Arbor Bancorp: Michigan-based community bank with full-service personal, business, mortgage, and wealth offerings; competing regional player in Southeast Michigan where ChoiceOne is expanding.
• Isabella Bank Corporation: Michigan community bank with personal, business, and wealth management services across Central Michigan; comparable in scale and product mix to ChoiceOne pre-Fentura.
• Lake Michigan Credit Union: Michigan's largest credit union with full personal, business, mortgage, and wealth services across West and Central Michigan; competes head-to-head for community banking customers.
• Level One Bank: Michigan-based commercial community bank (OTC: LEVL) focused on business banking, treasury management, and personal banking in Southeast Michigan; overlaps with ChoiceOne's Troy expansion plans.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/choiceonebank
• Facebookfacebook.com/choiceonebank
• LinkedInlinkedin.com/company/choiceone-bank
• Instagraminstagram.com/choiceonebank

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ChoiceOne Bank