ChoiceOne Financial Services Consolidates Community Shores Bank into Its Subsidiary ChoiceOne Bank

ChoiceOne Financial Services​, Inc. (Nasdaq: COFS) ("ChoiceOne"), the holding company of ChoiceOne Bank, announced on Monday that it has consolidated the previously acquired Community Shores Bank ("Community Shores") into ChoiceOne Bank. Community Shores is now renamed ChoiceOne Bank.

Early this year, ChoiceOne and Community Shores entered into a definitive merger agreement pursuant to which the financial holding company will acquire the Michigan's only independent community bank. With the successful consolidation of Community Shores and ChoiceOne Bank, the combined institution becomes the 12th largest bank holding company in Michigan based on asset size, with approximately $1.7 billion in assets and 33 offices across the state.

"We are pleased to close our merger of ChoiceOne Bank and Community Shores Bank," said ChoiceOne CEO Kelly Potes. "Our teams at both banks have worked diligently over the last 10 months to combine our banking operations and make this transition as seamless as possible and with limited disruption for our customers. Because of our similar markets, the consolidation presents many efficiency and new growth opportunities in our expanded network into West Michigan."

"Joining forces with ChoiceOne Bank presents a tremendous opportunity for our customers, communities, employees and shareholders," added Community Shores President and CEO Heather Brolick. "Our merger is a natural geographical and cultural fit and allows us to extend our footprint into Muskegon and Ottawa counties with advanced technology and innovative services. It also gives us broader opportunities to support our communities with increased donations and volunteer hours complementing ChoiceOne's vision to be the best bank in Michigan."