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BUSINESS COMBINATION
6 Months Ended
Jun. 30, 2019
Business Combinations [Abstract]  
BUSINESS COMBINATION

NOTE 8 – BUSINESS COMBINATION

 

On March 22, 2019, ChoiceOne entered into an Agreement and Plan of Merger with County Bank Corp (“County”), the holding company for Lakestone Bank & Trust. Under the terms of the merger agreement, County will be merged with and into ChoiceOne, with ChoiceOne as the surviving corporation. Completion of the merger is subject to receipt of shareholder approval of both ChoiceOne and County, receipt of regulatory approval, and the satisfaction of other customary closing conditions. Management expects the merger to become effective in the second half of 2019. As of December 31, 2018, County had total assets of approximately $620 million, total loans of approximately $360 million, and total deposits of approximately $540 million.