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OFFON

CHOICEONE FINANCIAL SERVICES, INC.

(COFS)
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ChoiceOne Financial Services : Bosserd Retires from COFS, Armock is Appointed

09/25/2021 | 09:32am EDT

It is with deep appreciation that the Boards of Directors of ChoiceOne Financial Services, Inc., and ChoiceOne Bank (NASDAQ: COFS) ("ChoiceOne") announce the retirement of James A. Bosserd from the Boards effective September 8.

Concurrently, Greg L. Armock has been appointed to the ChoiceOne Financial Services Board after serving nearly four years on the ChoiceOne Bank Board.

Greg L. Armock is the owner and president of Armock Mechanical Contractors, Inc., a provider of commercial HVAC, ventilation, plumbing, refrigeration, and fabrication services. Armock was appointed a director of ChoiceOne Bank in January 2018.

"It is certainly bittersweet for me to announce Jim's retirement from our Boards of Directors this month," said ChoiceOne CEO Kelly Potes. "I have worked with Jim for many years and have enjoyed his friendship and admired his dedication to the Bank. During his tenure with the Bank and as a board member, Jim led ChoiceOne to unprecedented growth and milestones.

We will miss Jim's leadership and wise counsel. At the same time, we are honored to have Greg join our COFS Board. Greg is an advocate for community banking and has provided the business acumen needed to help ChoiceOne grow our franchise value across Michigan."

Bosserd retires with over 50 years in the banking industry, 30 of those years in senior executive positions, 14 years as ChoiceOne's President and CEO and the last five years as a director on ChoiceOne's Boards of Directors. Bosserd has seen ChoiceOne grow to an approximately $2.1 billion-asset bank holding company from approximately $300 million, all while leading and counseling the Bank through mergers, the Great Recession, country-wide regulatory challenges, and advanced technological expansion.

During his distinguished career, Bosserd served his industry and communities selflessly. Bosserd is a director and former member of the compensation committee of the United Methodist Finance Authority. He is a former director of the Sparta Downtown Development Authority, Wolverine Worldwide YMCA, and Community Bankers of Michigan (CBM, formerly MACB), and a former member of CBM's audit committee. He previously served as President of the Chamber of Commerce, President of Rotary, Chairman of the Wolverine YMCA board, and was chosen by CBM as Banker of the Year.

"We wish Jim and his wife Jane a happy and healthy retirement," said Potes. "Jim has been a remarkable leader, and he and Jane have been exceptional friends to all of us at ChoiceOne. And again, we are pleased to welcome Greg to our COFS Board…another great leader."

Disclaimer

ChoiceOne Financial Services Inc. published this content on 25 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 September 2021 13:31:08 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2020 69,8 M - -
Net income 2020 15,6 M - -
Net cash 2020 66,7 M - -
P/E ratio 2020 14,9x
Yield 2020 2,66%
Capitalization 191 M 191 M -
EV / Sales 2019 5,96x
EV / Sales 2020 2,49x
Nbr of Employees 332
Free-Float 93,1%
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Managers and Directors
Kelly J. Potes Chief Executive Officer & Director
Michael J. Burke President & Director
Thomas L. Lampen Chief Financial Officer & Treasurer
Paul L. Johnson Chairman
Shelly M. Childers Chief Information Officer & Senior Vice President