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ChoiceOne Bank

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Deposit Rates - May 20, 2022

SAVINGS RATES APY MIN
Savings
0.01% $2,500 Compare
CD RATES APY MIN
6 Mo CD
0.05% $10,000 Compare
6 Mo CD
0.05% $100,000 Compare
12 Mo CD
0.15% $10,000 Compare
12 Mo CD
0.05% $100,000 Compare
18 Mo CD
0.15% $10,000 Compare
18 Mo CD
0.15% $100,000 Compare
24 Mo CD
0.25% $10,000 Compare
24 Mo CD
0.25% $100,000 Compare
30 Mo CD
0.30% $10,000 Compare
30 Mo CD
0.30% $100,000 Compare
36 Mo CD
0.40% $10,000 Compare
36 Mo CD
0.40% $100,000 Compare
48 Mo CD
0.60% $10,000 Compare
48 Mo CD
0.60% $100,000 Compare
60 Mo CD
0.85% $10,000 Compare
60 Mo CD
0.85% $100,000 Compare
MM RATES APY MIN
Money Market
0.01% $2,500 Compare
Money Market
0.03% $10,000 Compare
Money Market
0.03% $25,000 Compare
INT CHECKING RATES APY MIN
Int Ckg
0.01% $1
Int Ckg
0.01% $2,500

Overview 2022

General Bank Information

FDIC Insured Yes
FDIC Certificate # 1014
Date Established 1898
Assets $ 2.36 billion
Loans $ 1,061.14 million
Deposits $ 2.07 billion
Capital $ 236.46 million

Summary Balance Sheet

ASSETS
Cash & Balances due from depository institutions $ 31.89 million
Interest-bearing balances $ 9.75 million
Total securities $ 1,104.82 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 1,061.14 million
Loan loss allowance $ 7.69 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned $ 0.19 million
Goodwill and other intangibles $ 68.57 million
All other assets $ 66.94 million
     Total Assets $ 2.13 billion

LIABILITIES
Total deposits $ 2.07 billion
      Interest-bearing deposits $ 1,491.36 million
      Deposits held in domestic offices $ 2.07 billion
      % insured (estimated) 57.04%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 50.00 million
Subordinated debt N.A.
All other liabilities $ 7.37 millionn
      Total Liabilities $ 2.13 billion
      Shareholders’ Equity $ 236.46 million

Summary Income Statement

INCOME AND EXPENSES
Total Interest Income $ 64.61 million
Total Interest Expense $ 3.33 million
Net interest income $ 61.28 million
Provision for loan and lease losses $ 0.42 million
Total non interest income $ 18.75 million
Total non interest expense $ 52.70 million
Pre-tax Net Operating Income $ 26.91 million

ChoiceOne Bank is an FDIC insured institution headquartered at 109 E Division St, Sparta, MI 49345.
It was founded in 1898 and has approximately $2 billion in assets. Customers can open an account at one of its 13 branches.

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Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only.

  • 1
    LOCAL CD
    ChoiceOne Bank
    Bank
    MICHIGAN
    $50,000
    6 Month
    0.05%
    0.19x (National Avg. - 0.27%)
    $10,000
    -
    SCENARIO
    Year Rate
    0.05%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 25 18
    2 50,025 25 18
    3 50,050 25 18
    4 50,075 25 18
    5 50,100 25 18
    6 50,125 25 18
    7 50,150 25 18
    8 50,175 25 18
    9 50,200 25 18
    10 50,225 25 18
    11 50,251 25 18
    12 50,276 25 18
    13 50,301 25 18
    14 50,326 25 18
    15 50,351 25 18
    16 50,376 25 18
    17 50,402 25 18
    18 50,427 25 18
    19 50,452 25 18
    20 50,477 25 18
    TOTAL $502 $352
  • 2
    ONLINE CD
    Citizens Access , ★ TOP PICK ★
    Online Bank
    -
    $50,000
    12 Month
    1.30%
    3.23x (National Avg. - 0.40%)
    $5,000
    -
    SCENARIO
    Year Rate
    1.30%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 650 455
    2 50,650 658 461
    3 51,308 667 467
    4 51,975 676 473
    5 52,651 684 479
    6 53,336 693 485
    7 54,029 702 492
    8 54,731 712 498
    9 55,443 721 505
    10 56,164 730 511
    11 56,894 740 518
    12 57,633 749 524
    13 58,383 759 531
    14 59,142 769 538
    15 59,910 779 545
    16 60,689 789 552
    17 61,478 799 559
    18 62,277 810 567
    19 63,087 820 574
    20 63,907 831 582
    TOTAL $14,738 $10,317


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