ChoiceOne Financial Services, Inc. (COFS) Balance Sheet
COFS balance sheet, 2025
December 31, 2025 · U.S. dollars$4.41B assets = $3.95B liabilities + $465.4M equity
Both columns are drawn to the same scale: what COFS owns equals what it owes plus shareholders’ equity. Hover a block for its value.
COFS financial health
Descriptive bands, not a rating. Fiscal 2025.
COFS balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $607.4M2016 | $4.41B2025 | +24.6%/yr | |
| Total liabilities | $535.7M2016 | $3.95B2025 | +24.8%/yr | |
| Shareholders’ equity | $71.7M2016 | $465.4M2025 | +23.1%/yr | |
| Cash & short-term investments | $189.2M2016 | $222.3M2025 | +1.8%/yr | |
| Total debt | $20.2M2016 | $313.5M2025 | +35.6%/yr | |
| Net cash (debt) | $169.0M2016 | −$91.2M2025 | −$260.2M | |
| Working capital | −$331.1M2016 | −$3.62B2025 | −$3.3B | |
| Book value per share | $19.752016 | $33.262025 | +6.0%/yr | |
| Debt / equity | 0.282016 | 0.672025 | +0.39 | |
| Shares outstanding | 3.6M2016 | 14.0M2025 | +16.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
COFS assets
COFS liabilities and equity
COFS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
COFS balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $222.3M | $575.5M | $570.0M | $573.7M | $1.13B | $654.3M | $399.1M | $186.3M | $192.4M | $189.2M |
| Cash & equivalents | $88.0M | $96.4M | $55.4M | $43.9M | $31.9M | $79.5M | $59.6M | $19.7M | $36.8M | $14.8M |
| Short-term investments | $134.3M | $479.1M | $514.6M | $529.7M | $1.10B | $574.8M | $339.6M | $166.6M | $155.6M | $174.4M |
| Receivables | $11.0M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $194,000 | $266,000 | $929,000 | $102,000 | $106,000 | $437,000 |
| Other current assets | $0 | $350,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $222.3M | $575.9M | $570.0M | $573.7M | $1.13B | $654.3M | $399.1M | $186.3M | $192.4M | $189.2M |
| Property, plant & equipment (net) | $48.1M | $27.1M | $29.8M | $28.2M | $29.9M | $29.5M | $24.3M | $15.9M | $12.9M | $12.6M |
| Goodwill & intangible assets | $157.8M | $61.0M | $61.8M | $62.8M | $63.9M | $65.8M | $58.9M | $14.8M | $14.6M | $14.4M |
| Long-term investments | $949.0M | $881.4M | $930.1M | $972.8M | $1.12B | $585.7M | $342.4M | $169.4M | $155.6M | $174.4M |
| Other non-current assets | $3.03B | $1.18B | $985.1M | $748.4M | $25.9M | $584.1M | $561.4M | $284.1M | $271.0M | $216.8M |
| Total assets | $4.41B | $2.72B | $2.58B | $2.39B | $2.37B | $1.92B | $1.39B | $670.5M | $646.5M | $607.4M |
| Liabilities | ||||||||||
| Accounts payable | — | — | — | $2.12B | $2.05B | $1.67B | $1.15B | $577.0M | $539.9M | $512.4M |
| Short-term debt | $245.0M | $155.0M | $20.0M | $50.0M | $50.0M | $3.4M | $33.0M | $4.8M | $7.1M | $7.9M |
| Total current liabilities | $3.85B | $2.37B | $2.14B | $2.17B | $2.10B | $1.67B | $1.19B | $581.8M | $547.0M | $520.3M |
| Long-term debt | $68.5M | $55.8M | $205.5M | $35.3M | $35.0M | $3.1M | $33.2M | $0 | $0 | $0 |
| Lease obligations | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Other long-term liabilities | $31.7M | $38.0M | $33.5M | $13.8M | $7.7M | $14.4M | $0 | $8.3M | $23.0M | $15.4M |
| Total liabilities | $3.95B | $2.46B | $2.38B | $2.22B | $2.15B | $1.69B | $1.19B | $590.1M | $570.0M | $535.7M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $398.4M | $206.8M | $173.5M | $172.3M | $171.9M | $178.8M | $162.6M | $54.5M | $50.3M | $46.3M |
| Retained earnings (deficit) | $102.6M | $91.4M | $73.7M | $68.4M | $52.3M | $37.5M | $28.1M | $26.7M | $26.0M | $26.0M |
| Treasury stock | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Accumulated other comprehensive income | −$35.7M | −$37.8M | −$51.6M | −$71.8M | −$2.6M | $11.0M | $1.5M | −$55.3M | −$50.1M | −$46.9M |
| Minority interest | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Total shareholders' equity | $465.4M | $260.4M | $195.6M | $168.9M | $221.7M | $227.3M | $192.1M | $80.5M | $76.5M | $71.7M |
| Key figures | ||||||||||
| Total debt | $313.5M | $210.8M | $235.5M | $85.3M | $85.0M | $12.4M | $33.2M | $10.0M | $27.4M | $20.2M |
| Net cash (debt) | −$91.2M | $364.8M | $334.5M | $488.4M | $1.05B | $641.9M | $365.9M | $176.3M | $165.0M | $169.0M |
| Working capital | −$3.62B | −$1.79B | −$1.57B | −$1.59B | −$971.5M | −$1.02B | −$788.5M | −$395.5M | −$354.6M | −$331.1M |
| Tangible book value | $307.5M | $199.4M | $133.8M | $106.1M | $157.8M | $161.5M | $133.3M | $65.7M | $61.9M | $57.3M |
| Book value per share | $33.26 | $31.68 | $25.84 | $22.44 | $28.78 | $30.18 | $42.33 | $22.18 | $21.16 | $19.75 |
| Shares outstanding | 14.0M | 8.2M | 7.6M | 7.5M | 7.7M | 7.5M | 4.5M | 3.6M | 3.6M | 3.6M |
| Current ratio | 0.06 | 0.24 | 0.27 | 0.26 | 0.54 | 0.39 | 0.34 | 0.32 | 0.35 | 0.36 |
| Quick ratio | 0.06 | 0.24 | 0.27 | 0.26 | 0.54 | 0.39 | 0.34 | 0.32 | 0.35 | 0.36 |
| Debt / equity | 0.67 | 0.81 | 1.20 | 0.50 | 0.38 | 0.05 | 0.17 | 0.12 | 0.36 | 0.28 |
| Equity / assets | 10.6% | 9.6% | 7.6% | 7.1% | 9.4% | 11.8% | 13.9% | 12.0% | 11.8% | 11.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $644.2M | $83.9M | $222.3M | $107.6M | $166.4M | $155.1M | $575.5M | $643.1M | $592.7M | $654.8M | $570.0M | $635.1M |
| Cash & equivalents | $88.6M | $83.9M | $88.0M | $99.0M | $156.3M | $139.4M | $96.4M | $145.9M | $101.0M | $150.1M | $55.4M | $144.7M |
| Short-term investments | $555.6M | $573.5M | $134.3M | $8.7M | $10.2M | $15.7M | $479.1M | $497.6M | $491.7M | $504.6M | $514.6M | $490.8M |
| Receivables | $0 | $2.3M | $11.0M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $350,000 |
| Total current assets | $644.2M | $86.2M | $222.3M | $107.6M | $166.4M | $155.1M | $575.5M | $643.1M | $592.7M | $654.8M | $570.0M | $635.5M |
| Property, plant & equipment (net) | $50.4M | $48.7M | $48.1M | $46.2M | $45.7M | $44.3M | $27.1M | $27.1M | $27.4M | $28.3M | $29.8M | $29.6M |
| Goodwill & intangible assets | $157.7M | $159.3M | $157.8M | $158.4M | $160.2M | $161.7M | $61.0M | $61.2M | $61.4M | $61.6M | $61.8M | $62.0M |
| Long-term investments | $948.4M | $967.3M | $949.0M | $942.0M | $879.5M | $884.4M | $881.4M | $897.3M | $891.9M | $910.2M | $930.1M | $922.3M |
| Other non-current assets | $2.66B | $3.13B | $3.03B | $3.04B | $3.06B | $3.06B | $1.18B | $1.10B | $1.05B | $1.02B | $985.1M | $924.8M |
| Total assets | $4.46B | $4.39B | $4.41B | $4.30B | $4.31B | $4.31B | $2.72B | $2.73B | $2.62B | $2.67B | $2.58B | $2.57B |
| Liabilities | ||||||||||||
| Short-term debt | $294.9M | $165.0M | $245.0M | $50.0M | $23.7M | $87.3M | $155.0M | $190.0M | $190.0M | — | $20.0M | — |
| Total current liabilities | $3.90B | $165.0M | $3.85B | $3.62B | $3.62B | $3.74B | $2.37B | $2.40B | $2.32B | $2.19B | $2.14B | $2.13B |
| Long-term debt | $68.6M | $48.6M | $68.5M | $196.4M | $223.0M | $98.2M | $55.8M | $55.7M | $55.6M | $245.6M | $205.5M | $215.4M |
| Other long-term liabilities | $8.9M | $3.71B | $31.7M | $33.9M | $39.2M | $41.1M | $38.0M | $24.3M | $36.2M | $32.5M | $33.5M | $44.4M |
| Total liabilities | $3.97B | $3.92B | $3.95B | $3.85B | $3.88B | $3.88B | $2.46B | $2.48B | $2.41B | $2.46B | $2.38B | $2.39B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $396.7M | $397.5M | $398.4M | $398.7M | $398.2M | $397.9M | $206.8M | $206.4M | $174.0M | $173.8M | $173.5M | $173.2M |
| Retained earnings (deficit) | $120.1M | $112.0M | $102.6M | $93.1M | $82.6M | $73.3M | $91.4M | $86.8M | $81.8M | $77.3M | $73.7M | $70.4M |
| Accumulated other comprehensive income | −$34.1M | −$39.5M | −$35.7M | −$42.2M | −$49.1M | −$44.3M | −$37.8M | −$45.4M | −$41.3M | −$44.3M | −$51.6M | −$62.5M |
| Total shareholders' equity | $482.7M | $470.0M | $465.4M | $449.6M | $431.8M | $427.1M | $260.4M | $247.7M | $214.5M | $206.8M | $195.6M | $181.2M |
| Key figures | ||||||||||||
| Total debt | $343.5M | $233.4M | $313.5M | $246.4M | $246.7M | $185.5M | $210.8M | $245.7M | $245.6M | $245.6M | $235.5M | $215.4M |
| Net cash (debt) | $300.7M | −$149.5M | −$91.2M | −$138.7M | −$80.3M | −$30.4M | $364.8M | $397.4M | $347.0M | $409.2M | $334.5M | $419.7M |
| Working capital | −$3.25B | −$78.8M | −$3.62B | −$3.51B | −$3.45B | −$3.58B | −$1.79B | −$1.76B | −$1.72B | −$1.53B | −$1.57B | −$1.50B |
| Tangible book value | $324.9M | $310.7M | $307.5M | $291.2M | $271.6M | $265.4M | $199.4M | $186.6M | $153.1M | $145.2M | $133.8M | $119.2M |
| Book value per share | $32.04 | $31.20 | $30.89 | $29.71 | $28.72 | $39.76 | $30.48 | $29.00 | $28.21 | $27.20 | $25.87 | $23.94 |
| Shares outstanding | 15.1M | 15.1M | 15.1M | 15.1M | 15.0M | 10.7M | 8.5M | 8.5M | 7.6M | 7.6M | 7.6M | 7.6M |
| Current ratio | 0.17 | 0.52 | 0.06 | 0.03 | 0.05 | 0.04 | 0.24 | 0.27 | 0.26 | 0.30 | 0.27 | 0.30 |
| Quick ratio | 0.17 | 0.52 | 0.06 | 0.03 | 0.05 | 0.04 | 0.24 | 0.27 | 0.26 | 0.30 | 0.27 | 0.30 |
| Debt / equity | 0.71 | 0.50 | 0.67 | 0.55 | 0.57 | 0.43 | 0.81 | 0.99 | 1.15 | 1.19 | 1.20 | 1.19 |
| Equity / assets | 10.8% | 10.7% | 10.6% | 10.5% | 10.0% | 9.9% | 9.6% | 9.1% | 8.2% | 7.7% | 7.6% | 7.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 13, 2026); data from EODHD.
COFS financial position
At the end of fiscal 2025 (December 31, 2025), ChoiceOne Financial Services had total assets of $4.4 billion (up 62.0% from a year earlier), total liabilities of $3.9 billion and shareholders' equity of $465.4 million. It held $222.3 million in cash and short-term investments against $313.5 million of debt, net debt of $91.2 million. Its current ratio was 0.06. In the latest quarter (ended June 30, 2026) total assets were $4.5 billion and equity $482.7 million.
Related: COFS income statement, COFS cash flow statement, COFS key metrics. See the COFS stock overview for the latest quote and news.
COFS balance sheet FAQ
What are ChoiceOne Financial Services's total assets?
ChoiceOne Financial Services reported total assets of $4.4 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.7 billion a year earlier.
How much debt does ChoiceOne Financial Services have?
ChoiceOne Financial Services had $313.5 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.67.
How much cash does ChoiceOne Financial Services have?
ChoiceOne Financial Services held $222.3 million in cash and short-term investments at the end of fiscal 2025; with $313.5 million of debt that is net debt of $91.2 million.
What is ChoiceOne Financial Services's book value?
ChoiceOne Financial Services's shareholders' equity (book value) was $465.4 million at the end of fiscal 2025, or $33.26 per share.
What is ChoiceOne Financial Services's current ratio?
ChoiceOne Financial Services had current assets of $222.3 million and current liabilities of $3.8 billion, a current ratio of 0.06 (current liabilities exceed current assets).
How much goodwill does ChoiceOne Financial Services have?
ChoiceOne Financial Services carried $157.8 million of goodwill and intangible assets, 3.6% of total assets, at the end of fiscal 2025.