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Regulatory Capital (Tables)
12 Months Ended
Dec. 31, 2023
Notes Tables  
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block]

Actual capital levels and minimum required levels for ChoiceOne and the Bank were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Minimum Required

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

to be Well

 

 

 

 

 

 

 

 

 

 

 

Minimum Required

 

 

 

Capitalized Under

 

 

 

 

 

 

 

 

 

 

 

for Capital

 

 

 

Prompt Corrective

 

 

(Dollars in thousands)

 

Actual

 

 

 

Adequacy Purposes

 

 

 

Action Regulations

 

 

 

 

Amount

 

 

Ratio

 

 

 

Amount

 

 

Ratio

 

 

 

Amount

 

 

Ratio

 

 

December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ChoiceOne Financial Services Inc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total capital (to risk weighted assets)

 

$

233,840

 

 

 

13.0

 

%

 

$

144,441

 

 

 

8.0

 

%

 

N/A

 

 

N/A

 

 

Common equity Tier 1 capital (to risk weighted assets)

 

 

185,412

 

 

 

10.3

 

 

 

 

81,248

 

 

 

4.5

 

 

 

N/A

 

 

N/A

 

 

Tier 1 capital (to risk weighted assets)

 

 

189,912

 

 

 

10.5

 

 

 

 

108,331

 

 

 

6.0

 

 

 

N/A

 

 

N/A

 

 

Tier 1 capital (to average assets)

 

 

189,912

 

 

 

7.5

 

 

 

 

101,337

 

 

 

4.0

 

 

 

N/A

 

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ChoiceOne Bank

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total capital (to risk weighted assets)

 

$

224,095

 

 

 

12.4

 

%

 

$

144,274

 

 

 

8.0

 

%

 

$

180,342

 

 

 

10.0

 

%

Common equity Tier 1 capital (to risk weighted assets)

 

 

212,283

 

 

 

11.8

 

 

 

 

81,154

 

 

 

4.5

 

 

 

 

117,223

 

 

 

6.5

 

 

Tier 1 capital (to risk weighted assets)

 

 

212,283

 

 

 

11.8

 

 

 

 

108,205

 

 

 

6.0

 

 

 

 

144,274

 

 

 

8.0

 

 

Tier 1 capital (to average assets)

 

 

212,283

 

 

 

8.4

 

 

 

 

101,244

 

 

 

4.0

 

 

 

 

126,555

 

 

 

5.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ChoiceOne Financial Services Inc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total capital (to risk weighted assets)

 

$

222,006

 

 

 

13.8

 

%

 

$

128,545

 

 

 

8.0

 

%

 

N/A

 

 

N/A

 

 

Common equity Tier 1 capital (to risk weighted assets)

 

 

177,916

 

 

 

11.1

 

 

 

 

72,307

 

 

 

4.5

 

 

 

N/A

 

 

N/A

 

 

Tier 1 capital (to risk weighted assets)

 

 

182,416

 

 

 

11.4

 

 

 

 

96,409

 

 

 

6.0

 

 

 

N/A

 

 

N/A

 

 

Tier 1 capital (to average assets)

 

 

182,416

 

 

 

7.9

 

 

 

 

92,558

 

 

 

4.0

 

 

 

N/A

 

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ChoiceOne Bank

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total capital (to risk weighted assets)

 

$

208,696

 

 

 

13.0

 

%

 

$

128,294

 

 

 

8.0

 

%

 

$

160,367

 

 

 

10.0

 

%

Common equity Tier 1 capital (to risk weighted assets)

 

 

201,077

 

 

 

12.5

 

 

 

 

72,165

 

 

 

4.5

 

 

 

 

104,239

 

 

 

6.5

 

 

Tier 1 capital (to risk weighted assets)

 

 

201,077

 

 

 

12.5

 

 

 

 

96,220

 

 

 

6.0

 

 

 

 

128,294

 

 

 

8.0

 

 

Tier 1 capital (to average assets)

 

 

201,077

 

 

 

8.7

 

 

 

 

92,449

 

 

 

4.0

 

 

 

 

115,562

 

 

 

5.0