ChoiceOne Bank
Sparta, Michigan, Kent County
$4.5B in total assets, the 320th largest of 4,309 US banks and 5th of 74 headquartered in Michigan.
- FDIC certificate
- 1014
- Established
- 1898
- Owned by
- Choiceone Finl Services Inc
- Primary regulator
- FED
- Website
- WWW.CHOICEONE.BANK
At a glance
Compared with 17 banks headquartered in Michigan with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $4.5B | 76% | $1.5B | |
| Loans | $3.1B | 76% | $1.2B | |
| Deposits | $3.6B | 76% | $1.3B | |
| Return on assets | 1.30% | 53% | 1.26% | |
| Net interest margin | 3.75% | 35% | 3.81% | |
| Efficiency ratio | 55.2% | 35% | 62.4% | |
| Equity to assets | 11.67% | 82% | 9.26% | |
| Loans to deposits | 85% | 6% | 94% |
Growth
Total assets grew 16.0% a year over the last 5 years and 22.5% a year over 10 years, including 3 acquisitions in the last 10 years.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Mar 2025 | The State Bank Fenton, MI | $1.8B |
| Oct 2020 | Community Shores Bank Muskegon, MI, an affiliate under the same holding company | $257M |
| May 2020 | Lakestone Bank & Trust Lapeer, MI, an affiliate under the same holding company | $724M |
| Dec 2006 | Valley Ridge Bank Kent City, MI | $214M |
Where they operate
48 branches in 14 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Kent County, MI | $807M | 3.1% | 7 of 24 |
| Genesee County, MI | $791M | 14.5% | 3 of 8 |
| Lapeer County, MI | $686M | 43.2% | 1 of 7 |
| Muskegon County, MI | $370M | 16.3% | 4 of 7 |
| St. Clair County, MI | $198M | 7.1% | 6 of 7 |
| Saginaw County, MI | $194M | 7.4% | 6 of 10 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net gain of 36 branches since 2016 (12 to 48, +300.0%). 2 opened, 37 acquired, 3 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 12 | |||
| 2018 | Opened Grand Rapids and Rockford | 2 | 0 | +2 | 14 |
| 2020 | Acquired Lakestone Bank & Trust and Community Shores Bank | 17 | 0 | +17 | 31 |
| 2024 | Closed Emmett and Rockford | 0 | 2 | −2 | 29 |
| 2025 | Acquired The State BankClosed Farmington Hills | 20 | 1 | +19 | 48 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Commercial real estate | 49% | 30% | |
| 1-4 family residential | 27% | 36% | |
| Business (C&I) | 12% | 14% | |
| Multifamily | 3% | 4% | |
| Construction and land | 3% | 6% | |
| Farmland | 1% | 1% | |
| Consumer | 1% | 2% | |
| Agricultural | 1% | 1% | |
| Other | 2% | 6% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 55% | 50% | |
| Noninterest-bearing | 26% | 22% | |
| Time deposits | 19% | 28% |
Brokered deposits are 2.6% of deposits (peers 11.0%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 0.90% | 0.74% |
| Net charge-offs, annualized | 0.02% | 0.03% |
| Reserves to loans | 1.16% | 1.11% |
| Leverage ratio | 9.30% | 9.54% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Michigan
Largest competitors in Kent County, MI
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/choiceone