SPARTA,
Mich. and FENTON,
Mich., March 3, 2025 /PRNewswire/
-- ChoiceOne Financial Services, Inc., (NASDAQ: COFS)
("ChoiceOne"), today announced the completion of the merger of
Fentura Financial, Inc. (OTCQX: FETM) ("Fentura") with and into
ChoiceOne, effective as of March 1,
2025. The combined organization is a bank holding company
with assets exceeding $4 billion and
operates 56 offices across Michigan.
"We are excited to welcome Fentura into our ChoiceOne family,"
said ChoiceOne CEO Kelly
Potes. "Our acquisition of Fentura is a natural
geographical and cultural fit for ChoiceOne and allows us to expand
our community bank franchise further into Central and Southeastern Michigan. Our combined
company offers greater range and capacity for commercial and
consumer lending as well as leading advancements in technology. We
believe ChoiceOne offers substantial opportunity for our collective
communities, customers, and employees while adding significant
value for our shareholders. ChoiceOne will offer small businesses
and consumers in West, Central and Southeast Michigan an extensive line of
products and services delivered through an enhanced retail network
including digital and branch banking."
The combined organization will be headquartered in Sparta, Michigan. The consolidation of
The State Bank with and into ChoiceOne Bank is expected to be
effective on March 14, 2025 and the
consolidated bank will operate under the ChoiceOne name and
brand.
About ChoiceOne
ChoiceOne Financial Services, Inc. is
a financial holding company headquartered in Sparta, Michigan and the parent corporation of
ChoiceOne Bank and The State Bank. Members FDIC. Collectively,
ChoiceOne Bank and The State Bank operate 56 offices in parts of
Kent, Ottawa, Muskegon, Newaygo, Lapeer, St.
Clair, Macomb, Genesee, Jackson, Livingston, Ingham, Saginaw, Shiawassee, and Bay counties. ChoiceOne Bank and The State
Bank offer insurance and investment products through ChoiceOne
Bank's subsidiary, ChoiceOne Insurance Agencies, Inc. ChoiceOne
Financial Services, Inc. common stock is quoted on the Nasdaq
Capital Market under the symbol "COFS." For more information,
please visit Investor Relations at ChoiceOne's website at
choiceone.bank.
Forward-Looking Statements
This press release contains forward-looking statements.
Words such as "anticipates," "believes," "estimates," "expects,"
"forecasts," "intends," "is likely," "plans," "predicts,"
"projects," "may," "could," "look forward," "continue", "future"
and variations of such words and similar expressions are intended
to identify such forward-looking statements. These statements
reflect 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 does not
undertake any 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, 2023, and in any of ChoiceOne's
subsequent SEC filings, which are available on the SEC's website,
www.sec.gov.
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SOURCE ChoiceOne Financial Services, Inc.
