CHOICEONE FINANCIAL SERVICES INC Earnings Per Share Disclosure
Note 16 - Earnings Per Share
(Dollars in thousands, except share data) |
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2025 |
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2024 |
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2023 |
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Basic |
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Net income |
$ |
28,176 |
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$ |
26,727 |
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$ |
21,261 |
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Weighted average common shares outstanding |
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13,941,260 |
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8,166,472 |
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7,532,998 |
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Basic earnings per common shares |
$ |
2.02 |
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$ |
3.27 |
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$ |
2.82 |
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Diluted |
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Net income |
$ |
28,176 |
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$ |
26,727 |
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$ |
21,261 |
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Weighted average common shares outstanding |
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13,941,260 |
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8,166,472 |
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7,532,998 |
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Plus dilutive stock options and restricted stock units |
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50,839 |
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54,593 |
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39,292 |
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Weighted average common shares outstanding and potentially dilutive shares |
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13,992,099 |
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8,221,065 |
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7,572,290 |
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Diluted earnings per common share |
$ |
2.01 |
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$ |
3.25 |
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$ |
2.82 |
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There were no shares considered anti-dilutive to earnings per share as of December 31, 2025 and December 31, 2024, respectively, and there were 4,500 shares considered anti-dilutive to earnings per share as of December 31, 2023. This calculation is based on the average stock price during the year.
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 13, 2026 | Showing above |
| 2024 | Mar 11, 2025 | |
| 2023 | Mar 13, 2024 | |
| 2022 | Mar 23, 2023 | |
| 2021 | Mar 18, 2022 | |
| 2020 | Apr 1, 2021 | |
| 2019 | Mar 16, 2020 | |
| 2018 | Mar 18, 2019 | |
| 2017 | Mar 29, 2018 | |
| 2016 | Mar 27, 2017 | |
| 2015 | Mar 28, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.