ChoiceOne Financial Services Management
Management criteria checks 4/4
ChoiceOne Financial Services' CEO is Kelly Potes, appointed in Jun 2016, has a tenure of 8.67 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 $1.34M. The average tenure of the management team and the board of directors is 8.4 years and 5.3 years respectively.
Key information
Kelly Potes
Chief executive officer
US$722.3k
Total compensation
| CEO salary percentage | 64.8% |
| CEO tenure | 8.7yrs |
| CEO ownership | 0.4% |
| Management average tenure | 8.4yrs |
| Board average tenure | 5.3yrs |
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 31CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Dec 31 2024 | n/a | n/a | US$27m |
| 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$7m |
Compensation vs Market: Kelly's total compensation ($USD722.25K) is below average for companies of similar size in the US market ($USD1.38M).
Compensation vs Earnings: Kelly's compensation has been consistent with company performance over the past year.
CEO
Kelly Potes (62 yo)
8.7yrs
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 | 8.7yrs | US$722.25k | 0.45% $ 1.3m | |
| President & Director | 5.3yrs | US$508.77k | 0.13% $ 394.6k | |
| Executive VP & Chief Lending Officer of ChoiceOne Bank | 9.3yrs | US$336.60k | 0.030% $ 89.0k | |
| CFO, Executive VP | 3.1yrs | US$248.44k | 0.17% $ 515.7k | |
| Senior VP & Chief Information Officer | 9.1yrs | no data | no data | |
| Senior VP & Chief Credit Officer of ChoiceOne Bank | 13.1yrs | US$155.28k | no data | |
| Senior VP & Senior Lender of ChoiceOne Bank | 8.2yrs | no data | no data | |
| Senior Vice President of Human Resources of ChoiceOne Bank | 4.3yrs | no data | no data | |
| Senior Vice President of Wealth Management of ChoiceOne Bank | no data | no data | no data |
8.4yrs
Average Tenure
58yo
Average Age
Experienced Management: COFS's management team is seasoned and experienced (8.4 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 9.7yrs | US$722.25k | 0.45% $ 1.3m | |
| President & Director | 5.3yrs | US$508.77k | 0.13% $ 394.6k | |
| Independent Chairman of the Board | 11.5yrs | US$54.00k | 0.33% $ 972.8k | |
| Independent Director | 10.3yrs | US$45.50k | 0.21% $ 630.2k | |
| Independent Director | 5.3yrs | US$44.00k | 1.8% $ 5.4m | |
| Independent Director | 14.5yrs | US$46.50k | 0.090% $ 268.6k | |
| Independent Vice Chairman of the Board | 5.3yrs | US$45.50k | 0.37% $ 1.1m | |
| Independent Director | 5.3yrs | US$45.50k | 0.24% $ 723.5k | |
| Independent Director | 2.4yrs | US$45.50k | 0.068% $ 202.2k | |
| Independent Director | 2.4yrs | US$44.00k | 0.11% $ 339.4k | |
| Independent Director | 3.4yrs | US$46.50k | 0.64% $ 1.9m | |
| Independent Director | 3.2yrs | US$44.00k | 0.27% $ 802.8k |
5.3yrs
Average Tenure
58.5yo
Average Age
Experienced Board: COFS's board of directors are considered experienced (5.3 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2025/02/09 03:15 |
| End of Day Share Price | 2025/02/07 00:00 |
| Earnings | 2024/12/31 |
| Annual Earnings | 2024/12/31 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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
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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 3 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Jeffrey Rulis | D.A. Davidson & Co. |
| null null | D.A. Davidson & Co. |
| Daniel Cardenas | Janney Montgomery Scott LLC |