UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 21, 2015
ChoiceOne Financial Services, Inc.
(Exact Name of Registrant as
Specified in its Charter)
Michigan (State or Other Jurisdiction of Incorporation) |
000-19202 (Commission File Number) |
38-2659066 (IRS Employer Identification No.) |
109 E. Division Street Sparta, Michigan (Address of Principal Executive Offices) |
49345 (Zip Code) |
Registrant's telephone number, including area code: (616) 887-7366
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01 | Regulation FD Disclosure. |
On May 21, 2015, ChoiceOne Financial Services, Inc. (the “Company”) issued the press release attached as Exhibit 99.1 to this Form 8-K, which is here incorporated by reference. This Report and the Exhibit are furnished to, and not filed with, the Commission. |
Item 8.01 | Other Events. |
Effective May 21, 2015, the Company's common stock will trade on the OTCQX Best marketplace under the symbol "COFS." The Company's common stock previously traded on the OTCQB Venture marketplace. |
Item 9.01 | Financial Statements and Exhibits. | ||
(d) | Exhibits: | ||
99.1 | Press Release dated May 21, 2015. This Exhibit is furnished to, and not filed with, the Commission. |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: | May 21, 2015 | CHOICEONE FINANCIAL SERVICES, INC. (Registrant) | |
By: | /s/ Thomas Lampen | ||
Thomas Lampen Its Treasurer |
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EXHIBIT INDEX
Exhibit Number | Document | |
99.1 | ChoiceOne Financial Services, Inc. Press Release dated May 21, 2015. This Exhibit is furnished to, and not filed with, the Commission. |
EXHIBIT 99.1
News Release
Contact: | Tom Lampen, ChoiceOne Bank (616) 887-2337 tlampen@choiceone.com |
ChoiceOne Financial Begins Trading On OTCQX Marketplace
Sparta, Michigan – May 21, 2015 – ChoiceOne Financial Services, Inc. (OTCQX: COFS), the parent company for ChoiceOne Bank, announced that its common stock began trading today on OTCQX, the best marketplace for established, global and growth companies operated by OTC Markets Group, Inc. Prior to this, the Company’s common stock traded on the OTCQB Venture marketplace. The Company’s stock symbol, “COFS”, will remain the same.
OTCQX for Banks is an expansion of the OTCQX marketplace and was created for strongly capitalized and well managed banks that have committed to provide higher level reporting and greater transparency for investors. To qualify for OTCQX, a bank must meet high financial standards and be current in its reporting to bank regulators and, if applicable, to the U.S. Securities and Exchange Commission (SEC). On an ongoing basis, banks are required to publish quarterly and annual financial results and make timely disclosures of material news events. Banks must also appoint a Corporate Broker, a FINRA member broker-dealer specializing in trading in and advising banks, to serve as their OTCQX advisor. Boenning & Scattergood, Inc., a nationally recognized firm specializing in banks, will serve as ChoiceOne’s Corporate Broker on OTCQX.
“We are pleased that ChoiceOne Financial Services, Inc. has been approved to trade on the OTCQX marketplace,” said James A. Bosserd, President and Chief Executive Officer. “The increased visibility and transparency of the OTCQX marketplace is expected to increase the liquidity of our common stock and ultimately improve shareholder value over time. The transparency of the OTCQX marketplace is consistent with the corporate governance and reporting practices already being followed by ChoiceOne.”
ChoiceOne Financial Services, Inc. is a financial holding company headquartered in Sparta, Michigan and the parent corporation of ChoiceOne Bank. ChoiceOne Bank operates 12 full service offices in parts of Kent, Ottawa, Muskegon, and Newaygo Counties in Michigan. ChoiceOne Bank offers insurance and investment products through its subsidiary, ChoiceOne Insurance Agencies, Inc. For more information, please visit Investor Relations at ChoiceOne’s website at www.choiceone.com.
Forward-Looking Statements
This press release may contain forward-looking statements. Words such as “anticipates,” “believes,” “estimates,”
“expects,” “forecasts,” “intends,” “is likely,” “plans,” “predicts,”
“projects,” “may,” “could,” variations of such words and similar expressions are intended to
identify such forward-looking statements. Management’s determination of the provision and allowance for loan losses, the
carrying value of goodwill and loan servicing rights, and the fair value of investment securities (including whether any impairment
on any investment security is temporary or other than temporary) and management’s assumptions concerning pension and other
postretirement benefit plans involve judgments that are inherently forward-looking. These statements reflect management’s
current beliefs as to the expected outcomes of future events and are not guarantees of future performance. These statements involve
certain risks, uncertainties and assumptions (“risk factors”) that are difficult to predict with regard to timing,
extent, likelihood and degree of occurrence. Therefore, actual results and outcomes may materially differ from what may be expressed,
implied or forecasted in such forward-looking statements. Furthermore, ChoiceOne undertakes no obligation to update, amend, or
clarify forward-looking statements, whether as a result of new information, future events, or otherwise. Risk factors include,
but are not limited to, the risk factors described in Item 1A in ChoiceOne’s Annual Report on Form 10-K for the year ended
December 31, 2014. These are representative of the risk factors that could cause a difference between an ultimate actual outcome
and a preceding forward-looking statement.