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BUSINESS COMBINATION | 9 Months Ended
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Sep. 30, 2019
Business Combinations [Abstract] |
BUSINESS COMBINATION | NOTE 8 – BUSINESS COMBINATION On October 1, 2019, ChoiceOne completed the merger of County Bank Corp (“County”), the holding company for Lakestone Bank and Trust, with and into ChoiceOne pursuant to an Agreement and Plan of Merger dated March 22, 2019. Subject to the terms and conditions of the Merger Agreement, at the effective time of the Merger, each share of County common stock was converted into the right to receive 2.0632 shares of ChoiceOne common stock plus cash in lieu of any fractional shares. As a result of the Merger, a total of 3,603,872 shares of ChoiceOne common stock were identified that would be issued to County shareholders. The consolidated financial statements as of and for the nine months ended September 30, 2019 do not include financial results for County. As of the merger date, County had total assets of approximately $673 million, total loans of approximately $428 million, and total deposits of approximately $574 million. The initial accounting for the merger is not yet complete.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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