ChoiceOne Financial Reports First Quarter 2021 Results
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SPARTA, Mich., April 21, 2021 /PRNewswire/ ChoiceOne Financial Services, Inc. ( ChoiceOne ,NASDAQ: COFS), the parent company for ChoiceOne Bank, reported financial results for the quarter ended March 31, 2021.
Significant items impacting comparable first quarter 2021 and 2020 results include the following:
On July 1, 2020, ChoiceOne completed the merger of Community Shores Bank Corporation, the former parent company of Community Shores Bank, with and into ChoiceOne with ChoiceOne surviving the merger. Community Shores Bank was consolidated with and into ChoiceOne Bank effective October 16, 2020. The total assets, loans and deposits acquired in the merger with Community Shores were approximately $244.0 million, $173.9 million and $227.8 million, respectively.