ChoiceOne Financial Services, Inc.

NasdaqCM:COFS Stock Report

Market Cap: US$509.2m

ChoiceOne Financial Services Management

Management criteria checks 3/4

ChoiceOne Financial Services' CEO is Kelly Potes, appointed in Jun 2016, has a tenure of 10.25 years. total yearly compensation is $1.18M, comprised of 46.5% salary and 53.5% bonuses, including company stock and options. directly owns 0.36% of the company’s shares, worth $1.84M. The average tenure of the management team and the board of directors is 10 years and 6.9 years respectively.

Key information

Kelly Potes

Chief executive officer

US$1.2m

Total compensation

CEO salary percentage46.54%
CEO tenure10.3yrs
CEO ownership0.4%
Management average tenure10yrs
Board average tenure6.9yrs

Recent management updates

Recent updates

Analysis Article • Dec 13

ChoiceOne Financial Services' (NASDAQ:COFS) Upcoming Dividend Will Be Larger Than Last Year's

The board of ChoiceOne Financial Services, Inc. ( NASDAQ:COFS ) has announced that it will be paying its dividend of...
Analysis Article • Aug 28

ChoiceOne Financial Services' (NASDAQ:COFS) Upcoming Dividend Will Be Larger Than Last Year's

The board of ChoiceOne Financial Services, Inc. ( NASDAQ:COFS ) has announced that it will be paying its dividend of...
Analysis Article • Jun 01

ChoiceOne Financial Services (NASDAQ:COFS) Has Announced That It Will Be Increasing Its Dividend To $0.26

ChoiceOne Financial Services, Inc.'s ( NASDAQ:COFS ) dividend will be increasing from last year's payment of the same...
Analysis Article • Dec 04

ChoiceOne Financial Services (NASDAQ:COFS) Has Announced That It Will Be Increasing Its Dividend To $0.26

ChoiceOne Financial Services, Inc. ( NASDAQ:COFS ) will increase its dividend on the 30th of December to $0.26, which...
Analysis Article • Aug 28

ChoiceOne Financial Services (NASDAQ:COFS) Is Due To Pay A Dividend Of $0.25

The board of ChoiceOne Financial Services, Inc. ( NASDAQ:COFS ) has announced that it will pay a dividend of $0.25 per...
Seeking Alpha • Aug 24

ChoiceOne Financial Services declares $0.25 dividend

ChoiceOne Financial Services (NASDAQ:COFS) declares $0.25/share quarterly dividend, in line with previous. Forward yield 4.55% Payable Sept. 30; for shareholders of record Sept. 15; ex-div Sept. 14. See COFS Dividend Scorecard, Yield Chart, & Dividend Growth.
Seeking Alpha • Jul 27

ChoiceOne Financial Services GAAP EPS of $0.75, revenue of $19.72M

ChoiceOne Financial Services press release (NASDAQ:COFS): Q2 GAAP EPS of $0.75. Revenue of $19.72M (+2.5% Y/Y).

CEO Compensation Analysis

How has Kelly Potes's remuneration changed compared to ChoiceOne Financial Services's earnings?
DateTotal CompensationSalaryCompany Earnings
Jun 30 2026n/an/a

US$55m

Mar 31 2026n/an/a

US$56m

Dec 31 2025US$1mUS$550k

US$28m

Sep 30 2025n/an/a

US$21m

Jun 30 2025n/an/a

US$14m

Mar 31 2025n/an/a

US$7m

Dec 31 2024US$888kUS$488k

US$27m

Sep 30 2024n/an/a

US$25m

Jun 30 2024n/an/a

US$23m

Mar 31 2024n/an/a

US$21m

Dec 31 2023US$722kUS$468k

US$21m

Sep 30 2023n/an/a

US$23m

Jun 30 2023n/an/a

US$23m

Mar 31 2023n/an/a

US$24m

Dec 31 2022US$646kUS$400k

US$24m

Sep 30 2022n/an/a

US$22m

Jun 30 2022n/an/a

US$22m

Mar 31 2022n/an/a

US$21m

Dec 31 2021US$662kUS$380k

US$22m

Sep 30 2021n/an/a

US$21m

Jun 30 2021n/an/a

US$19m

Mar 31 2021n/an/a

US$19m

Dec 31 2020US$551kUS$360k

US$16m

Sep 30 2020n/an/a

US$15m

Jun 30 2020n/an/a

US$12m

Mar 31 2020n/an/a

US$9m

Dec 31 2019US$428kUS$287k

US$7m

Compensation vs Market: Kelly's total compensation ($USD1.18M) is below average for companies of similar size in the US market ($USD2.41M).

Compensation vs Earnings: Kelly's compensation has increased by more than 20% in the past year.

CEO

Kelly Potes (64 yo)

10.3yrs
Tenure
US$1,181,700
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

NamePositionTenureCompensationOwnership
Kelly Potes
CEO & Director10.3yrsUS$1.18m0.36%
$ 1.8m
Michael Burke
President & Director6.9yrsUS$805.46k0.11%
$ 558.5k
Adom Greenland
CFO, Executive VP4.7yrsUS$546.48k0.14%
$ 731.8k
Bradley Henion
Executive VP & Chief Lending Officer10.8yrsUS$529.44k0.042%
$ 214.9k
Robert Michel
SVP & Operations Officerno datano datano data
Shelly Childers
Senior VP & Chief Information Officer10.7yrsno datano data
Bart Jonker
SVP of Risk Management & Compliance Officerno datano datano data
Danielle Chateauvert
Vice President of Marketingno datano datano data
Lee Braford
Senior VP & Chief Credit Officer of ChoiceOne Bank14.7yrsUS$155.28kno data
Steven DeVolder
Senior VP & Senior Trust Officerno datano datano data
Peter Batistoni
Senior VP of Senior Lender East Market Mortgage Sales Executive9.8yrsno datano data
Heather Brolick
EVP Human Resources5.9yrsno datano data
10.0yrs
Average Tenure
63yo
Average Age

Experienced Management: COFS's management team is seasoned and experienced (10 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Kelly Potes
CEO & Director11.3yrsUS$1.18m0.36%
$ 1.8m
Michael Burke
President & Director6.9yrsUS$805.46k0.11%
$ 558.5k
Keith Brophy
Independent Director11.9yrsUS$66.13k0.15%
$ 749.1k
Eric Burrough
Independent Director6.9yrsUS$64.63k1.21%
$ 6.2m
Roxanne Page
Independent Vice Chairwoman16.1yrsUS$67.13k0.063%
$ 322.6k
Gregory McConnell
Independent Chairman of the Board6.9yrsUS$71.13k0.25%
$ 1.3m
Harold Burns
Independent Director6.9yrsUS$66.13k0.17%
$ 887.7k
Michelle Wendling
Independent Director4yrsUS$66.13k0.050%
$ 254.6k
Curt Coulter
Independent Director4yrsUS$66.13k0.084%
$ 427.7k
Greg Armock
Independent Director5yrsUS$67.13k0.43%
$ 2.2m
Bradley McGinnis
Independent Director4.8yrsUS$64.63k0.20%
$ 1.0m
Bruce Essex
Independent Director4.2yrsUS$64.63k1.67%
$ 8.5m
6.9yrs
Average Tenure
58.5yo
Average Age

Experienced Board: COFS's board of directors are considered experienced (6.9 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/14 22:59
End of Day Share Price 2026/09/14 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

ChoiceOne Financial Services, Inc. is covered by 4 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Daniel CardenasBrean Capital Historical (Janney Montgomery)
Jeffrey RulisD.A. Davidson & Co.
null nullD.A. Davidson & Co.