ChoiceOne Financial Services Management
Management criteria checks 4/4
ChoiceOne Financial Services' CEO is Kelly Potes, appointed in Jun 2016, has a tenure of 8.42 years. total yearly compensation is $722.25K, comprised of 64.8% salary and 35.2% bonuses, including company stock and options. directly owns 0.45% of the company’s shares, worth $1.44M. The average tenure of the management team and the board of directors is 8.2 years and 5.1 years respectively.
Key information
Kelly Potes
Chief executive officer
US$722.3k
Total compensation
| CEO salary percentage | 64.8% |
| CEO tenure | 8.4yrs |
| CEO ownership | 0.4% |
| Management average tenure | 8.2yrs |
| Board average tenure | 5.1yrs |
Recent management updates
Recent updates
ChoiceOne Financial Services' (NASDAQ:COFS) Upcoming Dividend Will Be Larger Than Last Year's
Dec 13
ChoiceOne Financial Services' (NASDAQ:COFS) Upcoming Dividend Will Be Larger Than Last Year's
Aug 28ChoiceOne Financial Services (NASDAQ:COFS) Has Announced That It Will Be Increasing Its Dividend To $0.26
Jun 01ChoiceOne Financial Services (NASDAQ:COFS) Has Announced That It Will Be Increasing Its Dividend To $0.26
Dec 04ChoiceOne Financial Services (NASDAQ:COFS) Is Due To Pay A Dividend Of $0.25
Aug 28ChoiceOne Financial Services declares $0.25 dividend
Aug 24ChoiceOne Financial Services GAAP EPS of $0.75, revenue of $19.72M
Jul 27ChoiceOne Financial: Loans Likely To Start Recovering By Next Year
Sep 16ChoiceOne Financial Services' (NASDAQ:COFS) Upcoming Dividend Will Be Larger Than Last Year's
Sep 03ChoiceOne Financial Services declares $0.22 dividend
May 28ChoiceOne Financial Services, Inc. (NASDAQ:COFS) Looks Like A Good Stock, And It's Going Ex-Dividend Soon
Mar 07Reflecting on ChoiceOne Financial Services' (NASDAQ:COFS) Share Price Returns Over The Last Year
Feb 18
ChoiceOne Financial Services reports Q4 results
Jan 31I Built A List Of Growing Companies And ChoiceOne Financial Services (NASDAQ:COFS) Made The Cut
Jan 14Should You Buy ChoiceOne Financial Services, Inc. (NASDAQ:COFS) For Its Upcoming Dividend?
Dec 09CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Sep 30 2024 | n/a | n/a | US$25m |
| Jun 30 2024 | n/a | n/a | US$23m |
| Mar 31 2024 | n/a | n/a | US$21m |
| Dec 31 2023 | US$722k | US$468k | US$21m |
| Sep 30 2023 | n/a | n/a | US$23m |
| Jun 30 2023 | n/a | n/a | US$23m |
| Mar 31 2023 | n/a | n/a | US$24m |
| Dec 31 2022 | US$646k | US$400k | US$24m |
| Sep 30 2022 | n/a | n/a | US$22m |
| Jun 30 2022 | n/a | n/a | US$22m |
| Mar 31 2022 | n/a | n/a | US$21m |
| Dec 31 2021 | US$662k | US$380k | US$22m |
| Sep 30 2021 | n/a | n/a | US$21m |
| Jun 30 2021 | n/a | n/a | US$19m |
| Mar 31 2021 | n/a | n/a | US$19m |
| Dec 31 2020 | US$551k | US$360k | US$16m |
| Sep 30 2020 | n/a | n/a | US$15m |
| Jun 30 2020 | n/a | n/a | US$12m |
| Mar 31 2020 | n/a | n/a | US$9m |
| Dec 31 2019 | US$428k | US$287k | US$7m |
| Sep 30 2019 | n/a | n/a | US$6m |
| Jun 30 2019 | n/a | n/a | US$7m |
| Mar 31 2019 | n/a | n/a | US$7m |
| Dec 31 2018 | US$348k | US$255k | US$7m |
| Sep 30 2018 | n/a | n/a | US$7m |
| Jun 30 2018 | n/a | n/a | US$7m |
| Mar 31 2018 | n/a | n/a | US$6m |
| Dec 31 2017 | US$317k | US$248k | US$6m |
Compensation vs Market: Kelly's total compensation ($USD722.25K) is below average for companies of similar size in the US market ($USD2.18M).
Compensation vs Earnings: Kelly's compensation has been consistent with company performance over the past year.
CEO
Kelly Potes (62 yo)
8.4yrs
Tenure
US$722,253
Compensation
Mr. Kelly J. Potes, CFP, served as Director at Lakestone Bank & Trust. Mr. Potes served as President and serves as Director of Choiceone Bank (Sparta, MI) since June 22, 2015 and has been its Chief Executi...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 8.4yrs | US$722.25k | 0.45% $ 1.4m | |
| President & Director | 5.1yrs | US$508.77k | 0.13% $ 425.8k | |
| Executive VP & Chief Lending Officer of ChoiceOne Bank | 9yrs | US$336.60k | 0.030% $ 96.0k | |
| CFO, Executive VP | 2.8yrs | US$248.44k | 0.17% $ 556.5k | |
| Senior VP & Chief Information Officer | 8.8yrs | no data | no data | |
| Senior VP & Chief Credit Officer of ChoiceOne Bank | 12.8yrs | US$155.28k | no data | |
| Senior VP & Senior Lender of ChoiceOne Bank | 7.9yrs | no data | no data | |
| Senior Vice President of Human Resources of ChoiceOne Bank | 4.1yrs | no data | no data | |
| Senior Vice President of Wealth Management of ChoiceOne Bank | no data | no data | no data |
8.2yrs
Average Tenure
58yo
Average Age
Experienced Management: COFS's management team is seasoned and experienced (8.2 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 9.4yrs | US$722.25k | 0.45% $ 1.4m | |
| President & Director | 5.1yrs | US$508.77k | 0.13% $ 425.8k | |
| Independent Chairman of the Board | 11.3yrs | US$54.00k | 0.32% $ 1.0m | |
| Independent Director | 10.1yrs | US$45.50k | 0.21% $ 669.3k | |
| Independent Director | 5.1yrs | US$44.00k | 1.8% $ 5.8m | |
| Independent Director | 14.3yrs | US$46.50k | 0.089% $ 284.9k | |
| Independent Vice Chairman of the Board | 5.1yrs | US$45.50k | 0.37% $ 1.2m | |
| Independent Director | 5.1yrs | US$45.50k | 0.24% $ 764.4k | |
| Independent Director | 2.2yrs | US$45.50k | 0.065% $ 210.4k | |
| Independent Director | 2.2yrs | US$44.00k | 0.11% $ 348.0k | |
| Independent Director | 3.2yrs | US$46.50k | 0.63% $ 2.0m | |
| Independent Director | 2.9yrs | US$44.00k | 0.26% $ 851.5k |
5.1yrs
Average Tenure
58.5yo
Average Age
Experienced Board: COFS's board of directors are considered experienced (5.1 years average tenure).