ChoiceOne Financial Services (COFS) investor relations material

Executive summary

• Q3 2026 net income was $14.5 million, or $0.97 per diluted share; 9M net income was $40.7 million, or $2.71 per diluted share.

• Total assets reached $4.46 billion at September 30, 2026, up $162.2 million YoY, driven primarily by core loan growth and mortgage warehouse advances.

• GAAP net interest margin expanded 8 bps QoQ to 3.67%, alongside higher net interest income and continued loan production.

Financial highlights

• Q3 net interest income was $38.4 million, up from $36.7 million QoQ and $37.6 million YoY; 9M net interest income was $111.8 million versus $100.2 million in 2025.

• Q3 net income was $14.5 million versus $14.7 million YoY; 9M net income was $40.7 million versus $14.3 million in 2025, when results included the Fentura acquisition.

• Q3 noninterest income was $6.8 million, down $389,000 YoY; noninterest expense was $26.5 million, up $330,000 YoY.

• 9M noninterest expense fell $9.0 million YoY, primarily reflecting the absence of $17.4 million in merger-related expenses; excluding those expenses, higher salaries and operating costs contributed to an increase.

Outlook and guidance

• Estimated purchased-loan accretion using the effective interest method is $1.8 million for the remainder of 2026 and $6.0 million in 2027; actual amounts depend on prepayments and other factors.

• Management intends to purchase similar-sized transferable tax credits during the remainder of 2026 to reduce tax expense.

• Management cited a well-capitalized balance sheet and strong liquidity as support for pursuing growth opportunities and sustaining shareholder value.