Choiceone Financial Services Inc Income Statement

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Income Statement	Dec2009	Dec2010	Dec2011	Dec2012	Dec2013	Dec2014	Dec2015	Dec2016	Dec2017	Dec2018	Dec2019	Dec2020	Dec2021	Dec2022	Dec2023	Dec2024
Revenue & Cost
Provisions	4.88M	3.95M	3.70M	2.52M	0.30M	0.10M	0.10M	-0.44M	0.48M	0.04M		4.00M	0.42M	0.25M	1.26M	1.30M
Revenue	21.42M	22.56M	24.06M	24.56M	23.84M	24.66M	26.06M	27.22M	28.37M	28.98M	36.94M	73.77M	79.83M	81.39M	80.79M	92.44M
Interest income
Interest income - Loans	19.91M	19.08M	18.40M	16.88M	15.80M	15.77M	15.97M	16.51M	17.96M	20.03M	26.78M	46.87M	48.66M	52.82M	68.38M	89.58M
Interest income - Investments											0.07M	0.34M	0.59M	1.19M
Interest Income - Debt Securities	1.39M	1.46M	1.79M	1.96M	1.81M	1.85M	1.94M	2.33M	2.56M	2.90M	3.96M	5.89M	10.26M	15.58M	21.17M	21.23M
Other interest income	0.01M	0.02M	0.02M	0.03M	0.01M	0.01M	0.01M	0.02M	0.10M	0.13M	0.27M	0.27M	0.08M	0.49M	3.80M	4.68M
Interest Income - Total	23.09M	21.96M	21.48M	20.22M	19.02M	19.01M	19.35M	20.31M	22.04M	24.52M	32.47M	55.72M	64.62M	75.06M	98.98M	121.10M
Interest expenses
Interest Expense - Deposits	5.55M	3.91M	2.96M	2.09M	1.33M	1.04M	0.88M	0.79M	1.19M	2.17M	4.19M	4.18M	3.31M	5.84M	23.99M	34.17M
Interest Expense - Debt	1.19M	0.75M	0.31M	0.27M	0.04M	0.06M	0.08M	0.17M	0.28M	0.23M	0.46M	0.22M	0.02M	0.12M	1.77M	2.04M
Interest Expense - Fed Funds	0.35M	0.30M	0.29M	0.19M	0.05M	0.05M	0.03M	0.01M	0.01M	0.05M	0.06M
Interest Expense - Others										0.05M	0.06M	0.25M	0.65M	1.78M	7.33M	10.45M
Interest Expenses	7.09M	4.97M	3.55M	2.54M	1.42M	1.15M	0.99M	0.97M	1.48M	2.46M	4.70M	4.64M	3.98M	7.75M	33.09M	46.66M
Interest Income - Net	16.00M	17.00M	17.92M	17.68M	17.60M	17.86M	18.36M	19.34M	20.56M	22.06M	27.77M	51.07M	60.64M	67.31M	65.89M	74.44M
Non-interest income
Interest Income - Total	11.12M	13.04M	14.22M	15.16M	17.30M	17.76M	18.26M	19.34M	20.08M	22.03M	27.77M	47.07M	60.23M	67.06M	65.73M	73.82M
Financial Services Fees	0.69M	0.69M	0.67M	0.71M	0.83M	0.91M	1.06M	1.01M	0.83M	0.34M	0.31M	0.54M	0.77M	0.78M	0.70M	0.74M
Service Charges	3.18M	3.16M	3.45M	3.37M	3.68M	3.95M	4.08M	4.06M	4.13M	4.53M	5.28M	7.25M	8.63M	4.56M	4.60M	4.77M
Investment Gain (Loss)	0.40M	0.54M	0.13M	0.42M	0.14M	0.31M	0.26M	0.31M	-0.28M	0.03M	0.02M	1.31M	-0.04M	-0.81M	-0.07M
Investment Banking Income	0.60M	0.68M	0.67M	1.63M	1.57M	1.02M	1.42M	1.75M	1.26M	1.00M	1.95M	11.31M	6.78M	2.34M	1.95M	2.44M
Income - Trust											0.16M	0.74M	0.79M	0.73M	0.77M	0.91M
Trading Income								0.31M	-0.28M	0.03M
Other Non-Interest Income	0.79M	-3.88M	-3.67M	-2.50M	0.56M	1.07M	0.65M	0.44M	0.73M	0.48M	0.99M	0.94M	0.98M	1.31M	1.21M	1.93M
Non-Interest Income	5.42M	5.57M	6.14M	6.89M	6.25M	6.80M	7.70M	7.88M	7.81M	6.92M	9.17M	22.70M	19.19M	14.07M	14.91M	18.00M
Operating Items
Amortization - Intangibles	1.77M	1.40M	1.27M	1.36M	1.39M	1.39M	1.43M	1.45M	1.42M	1.47M	1.47M	2.68M	5.62M	6.16M	5.63M	5.61M
Research & Development	1.60M	1.65M	1.74M	1.85M	1.68M	1.86M	2.32M	2.27M	2.28M	2.21M	3.21M	6.76M	6.19M	5.49M	5.35M	5.91M
Wages, Salaries and Other	6.90M	7.04M	7.35M	7.87M	8.24M	8.46M	9.27M	9.98M	10.25M	11.00M	14.40M	26.54M	29.30M	30.39M	31.96M	33.41M
Rent Expense	2.23M	2.16M	2.25M	2.26M	2.34M	2.39M	2.40M	2.59M	2.90M	2.72M	3.56M	5.78M	6.17M	6.19M	6.05M	5.80M
Restructuring Costs																1.04M
Other Operating Expenses	11.43M	11.44M	11.80M	12.34M	12.65M	12.55M	13.56M	14.11M	0.91M	14.25M	14.25M	15.26M	40.56M	41.80M	43.68M	45.98M
Operating Expenses	15.26M	15.25M	15.79M	16.44M	16.66M	16.79M	18.28M	18.97M	19.33M	20.46M	28.48M	50.88M	52.92M	53.48M	55.07M	58.72M
Operating Income			1.55M	1.91M	2.34M	2.64M	2.61M	2.81M	2.91M	1.78M	1.78M	3.97M	5.57M	5.81M	5.37M	6.95M
EBIT	8.37M	8.33M	1.55M	1.91M	2.34M	2.64M	2.61M	2.81M	2.91M	1.78M	1.78M	3.97M	5.57M	5.81M	5.37M	6.95M
Non-operating items
Other Non Operating Income																0.18M
Net income details
EBT	1.28M	3.37M	4.57M	5.61M	6.88M	7.77M	7.69M	8.25M	8.55M	8.49M	8.46M	18.89M	26.50M	27.66M	25.57M	33.09M
Tax Provisions	-0.20M	0.65M	1.06M	1.48M	1.78M	2.54M	2.58M	2.24M	2.39M	1.16M	1.29M	3.27M	4.46M	4.03M	4.33M	6.63M
Profit After Tax	1.48M	2.71M	3.51M	4.26M	5.09M	5.70M	5.74M	6.09M	6.17M	7.33M	7.17M	15.61M	22.04M	23.64M	21.26M	26.73M
Equity Income										0.07M		-0.15M	0.48M	-0.95M	-0.32M	0.20M
Income from Continuing Operations	1.48M	2.71M	3.51M	4.13M	5.09M	5.24M	5.11M	6.01M	6.17M	7.33M	7.17M	15.61M	22.04M	23.62M	21.24M	26.46M
Consolidated Net Income	1.48M	2.71M	3.51M	4.13M	5.09M	5.24M	5.11M	6.01M	6.17M	7.33M	7.17M	15.61M	22.04M	23.62M	21.24M	26.46M
Income towards Parent Company	1.48M	2.71M	3.51M	4.13M	5.09M	5.24M	5.11M	6.01M	6.17M	7.33M	7.17M	15.61M	22.04M	23.62M	21.24M	26.46M
Net Income towards Common Stockholders	1.48M	2.71M	3.51M	4.13M	5.09M	5.24M	5.74M	6.09M	6.17M	7.33M	7.17M	15.61M	22.04M	23.64M	21.26M	26.73M
Additional items
EPS (Basic)	0.45	0.83	1.07	1.29	1.55	1.73	1.67	1.68	1.70	2.03	1.58	2.08	2.87	3.15	2.82	3.27
EPS (Weighted Average and Diluted)	0.45	0.83	1.07	1.29	1.54	1.72	1.66	1.68	1.70	2.02	1.58	2.07	2.86	3.15	2.82	3.25
Shares Outstanding (Weighted Average)									3.54M	3.62M	7.25M	7.80M	7.57M	7.51M	7.55M	8.96M
Tax Rate		19.44%	23.18%	26.32%	25.93%	32.63%	33.51%	27.19%	27.90%	13.61%	15.29%	17.33%	16.82%	14.58%	16.94%	20.05%

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Choiceone Financial Services Inc Income Statement

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