COFS FINANCIAL STATEMENTS

ChoiceOne Financial Services Inc — balance sheet, income statement and cash flow trends

COFSChoiceOne Financial Services Inc

🇺🇸 USA · NASDAQ · Financial Services · Banks - Regional

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue241.8 M $+59.6%

Gross Profit171.3 M $+91.7%

Operating Income68.5 M $+691.2%

EBITDA89.6 M $+315.8%

Net Income55.8 M $+676.2%

Peer Comparison· Banks - Regional

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
COFS	—	—	—	23.1%
ICBCT	—	—	—	24.7%
TSKB	—	—	—	54.9%
NWG	—	—	—	20.1%
ISBTR	—	—	—	28.1%
LLOY	—	—	—	25.9%
Industry median	—	67.2%	20.4%	20.6%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity470 M $11%
Current Liabilities165 M $4%
Long-term Liabilities3.8 B $86%

Key Figures

YoY change

Total Assets4.4 B $+2.1%

Total Liabilities3.9 B $+1.2%

Total Equity470 M $+10.1%

Cash & ST Investments83.9 M $-45.9%

Total Debt233.4 M $+25.8%

Net Debt149.5 M $+224.3%

Peer Comparison· Banks - Regional

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
COFS	0.52	49.7%	1.67	10.7%
ICBCT	—	0.0%	-20.34	4.0%
TSKB	—	0.0%	-0.47	13.4%
NWG	0.25	17.0%	-14.68	5.2%
ISBTR	—	0.0%	-28.33	8.5%
LLOY	0.12	209.8%	5.39	5.0%
Industry median	0.31	38.0%	-0.58	11.0%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
COFS	0.52	49.7%	1.67	10.7%
SFST	0.03	69.8%	3.04	8.3%
OBT	0.18	11.9%	-7.33	10.8%
FBIZ	0.15	81.7%	-3.11	8.8%
FFIC	32.60	67.2%	5.72	7.9%
BSRR	0.19	109.5%	-3.40	9.7%
Industry median	0.31	38.0%	-0.58	11.0%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow38.1 M $+41.9%

Capital Expenditures7.3 M $+228.1%

Free Cash Flow30.8 M $+25.0%

Dividends Paid-17.1 M $-253.1%

Peer Comparison· Banks - Regional

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
COFS	15.8%	12.7%	3.0%	68.3%
ICBCT	24.7%	29.9%	5.1%	100.0%
TSKB	54.9%	71.9%	17.0%	100.0%
NWG	—	—	0.0%	—
ISBTR	28.1%	-3.3%	31.4%	100.0%
LLOY	—	—	0.0%	—
Industry median	23.6%	22.1%	1.5%	111.4%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
COFS	15.8%	12.7%	3.0%	68.3%
SFST	16.4%	16.0%	0.4%	96.2%
OBT	31.5%	29.9%	1.7%	111.4%
FBIZ	18.9%	18.7%	0.2%	104.1%
FFIC	9.4%	8.5%	0.9%	131.2%
BSRR	2.1%	1.5%	0.6%	9.1%
Industry median	23.6%	22.1%	1.5%	111.4%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 8, 26. This content is for informational purposes only and is not investment advice.