← CHOICEONE FINANCIAL SERVICES INC

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income (Loss) Attributable to Parent $6.1m $6.2m $7.3m $7.2m $15.6m $22.0m $23.6m $21.3m $26.7m $28.2m
Net Income (Loss) Available to Common Stockholders, Basic — $6.2m $7.3m $7.2m $15.6m $22.0m $23.6m $21.3m $26.7m $28.2m
Amortization $1.5m $1.1m $893k $1.5m $5.0m $9.8m $10.7m $10.0m $9.9m $16.3m
Amortization of Intangible Assets $379k — — $353k $1.5m $1.3m $1.2m $955k $757k $5.8m
Depreciation $1.1m $1.4m $1.2m $1.6m $2.7m $2.6m $2.7m $2.5m $2.5m $3.6m
Deferred Income Tax Expense (Benefit) ($82k) $62k $209k $310k $202k $924k ($15k) ($24k) ($271k) ($113k)
Share-based Payment Arrangement, Noncash Expense $380k $317k $344k $373k $512k $812k $958k $1.0m $720k $883k
Payment, Tax Withholding, Share-based Payment Arrangement — — — — — — — $0 $220k $327k
Goodwill, Impairment Loss — — — — $0 — — — — —
Gain (Loss) on Disposition of Business — $908k — — — — — — — —
Gain (Loss) on Disposition of Other Assets ($41k) $26k $83k $55k ($13k) $6k $99k $147k $198k ($226k)
Income Tax Expense (Benefit) $2.2m $2.4m $1.2m $1.3m $3.3m $4.5m $4.0m $4.3m $6.4m $6.0m
Operating Lease, Expense — — — — $83k $153k $211k $327k $322k $593k
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Other Operating Assets $2.0m ($417k) $875k ($2.1m) $3.2m $5.4m $4.2m ($5.4m) $817k ($3.4m)
Provision for Loan, Lease, and Other Losses — $485k $35k — $4.0m $416k $250k $150k $625k $14.8m
Bank Owned Life Insurance Income $356k $398k $385k $773k $772k $809k $1.3m $1.1m $1.9m $2.4m
Increase (Decrease) in Other Operating Liabilities $1.8m ($783k) $573k ($1.5m) ($3.5m) $5.7m $6.2m $7.6m $14.8m ($18.6m)
Gain (Loss) on Sales of Loans, Net $1.7m $1.3m $1.0m $2.0m $8.1m $4.4m $1.3m $1.1m $2.4m $2.0m
Debt and Equity Securities, Realized Gain (Loss) — — $34k — — — — — — —
Debt Securities, Available-for-sale, Realized Gain (Loss) — — — $22k $1.3m ($40k) ($809k) ($71k) $0 $0
Equity Securities, FV-NI, Gain (Loss) — — — — ($155k) $479k ($955k) ($317k) $195k $607k
Equity Securities, FV-NI, Realized Gain (Loss) — — — — $0 $0 $0 ($71k) $0 $0
Equity Securities, FV-NI, Unrealized Gain (Loss) — — — — ($155k) $479k ($955k) ($246k) $195k $607k
Goodwill $13.7m $13.7m $13.7m $52.9m $60.5m $59.9m $59.9m $59.9m $59.9m $129.9m
Financing Receivable, Credit Loss, Expense (Reversal) — — — — — — — $1.3m $1.3m $15.1m
Revenue from Contract with Customer, Including Assessed Tax — — — — — — — — — $19.0m
Net Cash Provided by (Used in) Operating Activities $10.9m $8.1m $10.0m $9.2m $8.5m $37.7m $45.0m $46.5m $48.6m $31.8m
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment $1.8m $1.7m $4.2m $766k $1.9m $2.8m $1.2m $4.2m $1.7m $6.6m
Net Cash Provided by (Used in) Investing Activities ($41.5m) ($18.3m) ($43.9m) $36.4m ($250.8m) ($521.4m) ($90.5m) ($181.4m) ($97.9m) $106.7m
Cash flows from financing activities:
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale $36.7m $17.6m $13.4m $47.8m $48.8m $54.2m $51.6m $32.3m $33.8m $24.4m
Proceeds from Issuance of Long-term Debt — — — — $10.1m $87.5m $726.0m $420.0m $315.0m —
Repayments of Long-term Debt — — — — $33.9m $14.3m $726.0m $270.0m $340.0m —
Proceeds from Issuance of Common Stock $85k $98k $77k $142k $134k $139k $172k $231k $674k $892k
Payments for Repurchase of Common Stock $794k $203k $523k $67k $0 $7.8m $767k $0 $0 $2.7m
Dividends paid $2.2m $2.3m $2.6m $5.8m $6.2m $7.2m $7.6m $7.9m $9.0m $16.9m
Payments of Dividends $2.2m $2.3m $2.6m $5.8m $6.2m $7.2m $7.6m $7.9m $9.0m $16.9m
Other Interest and Dividend Income $21k $102k $131k $268k $266k $84k $491k $3.8m $4.7m $3.5m
Net Cash Provided by (Used in) Financing Activities — $32.2m $16.8m ($5.7m) $262.2m $436.0m $57.5m $146.4m $90.6m ($147.3m)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect — — — $39.9m $20.0m ($47.6m) $12.1m $11.5m $41.3m ($8.8m)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — — $59.6m — — — — — —
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities $984k $1.5m $2.3m $4.5m $4.9m $3.7m $7.6m $27.5m $49.9m $65.1m
Income Taxes Paid, Net $1.8m $2.1m $850k $1.0m $5.0m $3.3m $2.0m $4.5m $6.3m $7.3m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.