CHOICEONE FINANCIAL SERVICES INCORPORATED Q2 Profit Increases, Beats Estimates

Choiceone Financial Services

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(RTTNews) - CHOICEONE FINANCIAL SERVICES INCORPORATED (COFS) revealed a profit for its second quarter that Increased from the same period last year and beat the Street estimates.

The company's earnings came in at $13.53 million, or $0.90 per share. This compares with $6.59 million, or $0.87 per share, last year.

Excluding items, CHOICEONE FINANCIAL SERVICES INCORPORATED reported adjusted earnings of $13.67 million or $0.91 per share for the period.

Analysts on average had expected the company to earn $0.78 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 80.1% to $53.93 million from $29.94 million last year.

CHOICEONE FINANCIAL SERVICES INCORPORATED earnings at a glance (GAAP) :

-Earnings: $13.53 Mln. vs. $6.59 Mln. last year. -EPS: $0.90 vs. $0.87 last year. -Revenue: $53.93 Mln vs. $29.94 Mln last year.