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ChoiceOne appoints Adom Greenland as CFO » 09:0201/0401/04/22
The Board of Directors of…
The Board of Directors of ChoiceOne Financial Services, the parent company of ChoiceOne Bank, announced effective January 1, Adom J. Greenland, who currently serves as Secretary and COO of ChoiceOne and ChoiceOne Bank, will serve as Secretary, CFO and Treasurer of ChoiceOne and ChoiceOne Bank. Greenland replaced Thomas L. Lampen, Senior Vice President and CFO, upon his retirement effective December 31, 2021. Greenland, a Certified Public Accountant, has been a Senior Vice President of ChoiceOne Bank since November 2015 and a Vice President of ChoiceOne Bank since 2013. He currently serves as Secretary and Chief Operating Officer. Prior to his employment with ChoiceOne, Greenland was a Senior Manager with PricewaterhouseCoopers, a global accounting and consulting firm.
ChoiceOne Financial completes $32.5M subordinated notes offering » 08:5909/0709/07/21
ChoiceOne Financial Services announced the completion of a private placement of $32.5M in aggregate principal amount of 3.25% fixed-to-floating rate subordinated notes due 2031. The Company intends to use the net proceeds of the private placement for general corporate purposes, including support for organic growth plans, possible redemption of senior debt, common stock repurchases and support for bank-level capital ratios. The Notes will initially bear interest at a fixed interest rate of 3.25% per annum until September 3, 2026, after which time the interest rate will reset quarterly to a floating rate equal to a benchmark rate, which is expected to be the then current three-month term Secured Overnight Financing Rate plus 255 basis points until the Notes' maturity on September 3, 2031. The Notes are redeemable by the Company, in whole or in part, on or after September 3, 2026, and at any time upon the occurrence of certain events. The Notes have been structured to qualify as Tier 2 capital for the Company for regulatory capital purposes.
ChoiceOne Financial raises quarterly cash dividend 14% to 25c per share » 09:0208/3008/30/21
The cash dividend is…
The cash dividend is payable to shareholders of record as of September 15 and will be paid on September 30.