Displaying items tagged: Community Shores Bank Corp

The two acquisitions ChoiceOne Financial Services Inc. closed over a 15-month period tripled the size of the Sparta-based bank holding company.

ChoiceOne Financial Service Inc. has reported significantly higher quarterly earnings following the completion of two acquisitions in the last year.

Given how hard the economy fell in the second quarter, earnings for West Michigan-based banks held up relatively well, although they were primarily lower than a year earlier as banks set aside more in reserve to cover potential future loan losses.

An acquisition last fall helped ChoiceOne Financial Services Inc. report quarterly earnings that tripled from a year ago.

Here is the MiBiz growth report for July 5, 2020.

ChoiceOne Financial Services Inc. closed today on the $20.8 million acquisition of Community Shores Bank Corp.

Here is the MiBiz  Growth Report for June 21, 2020.

SPARTA — The planned $21.9 million merger of Community Shores Bank Corp. into ChoiceOne Financial Services Inc. heads to a close after earning shareholder approval.

Here is the MiBiz Growth Report for May 27, 2020.

In mid-2018, executives and directors at Community Shores Bank Corp. began to study “strategic alternatives” to grow the bank.

Two locally-based banks — Mercantile Bank and West Michigan Community Bank — plan to close the lobbies of bank branches to customers starting Wednesday.

This is the MiBiz growth report for February 16, 2020.

SPARTA — Shares of ChoiceOne Financial Services Inc., the parent company of ChoiceOne Bank and Lakestone Bank & Trust, will begin trading Friday on The Nasdaq Capital Market under its present symbol “COFS.”

MUSKEGON — Marketing and branding firm Revel has acquired Borns B2B.

SPARTA — ChoiceOne Financial Services Inc. wasn’t actively looking to do another deal, but the parent company of ChoiceOne Bank saw an opportunity with Community Shores Bank Corp. that was too good to pass up. 

SPARTA — Five months after closing one acquisition, ChoiceOne Financial Services Inc. now plans to do another.

MUSKEGON — Citing the high cost of complying with public reporting requirements, Community Shores Bank Corp. plans to deregister its shares with federal securities regulators.

MUSKEGON — After more than six years of operating under increased regulatory scrutiny, CEO Heather Brolick wants people to know that Community Shores Bank Corp. is “back on track” and growing again.

Backed with a $5 million capital injection, Community Shores Bank Corp. has emerged from an era of increased regulatory oversight.