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Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Data (Unaudited) | Note 22 – Quarterly Financial Data (Unaudited)
|  |  |  |  | Net |  |  |  |  |  | Earnings Per Share |
(Dollars in thousands, except per share data) |  | Interest |  |  | Interest |  |  | Net |  |  |  |  |  | Fully |
|  | Income |  |  | Income |  |  | Income |  |  | Basic |  |  | Diluted |
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First Quarter |  | $ | 6,477 |  |  | $ | 5,496 |  |  | $ | 1,637 |  |  | $ | 0.45 |  |  | $ | 0.45 |
Second Quarter |  |  | 6,554 |  |  |  | 5,501 |  |  |  | 1,486 |  |  |  | 0.41 |  |  |  | 0.41 |
Third Quarter |  |  | 6,561 |  |  |  | 5,570 |  |  |  | 1,021 |  |  |  | 0.28 |  |  |  | 0.28 |
Fourth Quarter |  |  | 12,881 |  |  |  | 11,206 |  |  |  | 3,027 |  |  |  | 0.44 |  |  |  | 0.44 |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First Quarter |  | $ | 5,722 |  |  | $ | 5,330 |  |  | $ | 1,658 |  |  | $ | 0.46 |  |  | $ | 0.46 |
Second Quarter |  |  | 6,141 |  |  |  | 5,595 |  |  |  | 1,833 |  |  |  | 0.51 |  |  |  | 0.51 |
Third Quarter |  |  | 6,212 |  |  |  | 5,522 |  |  |  | 2,014 |  |  |  | 0.55 |  |  |  | 0.55 |
Fourth Quarter |  |  | 6,450 |  |  |  | 5,617 |  |  |  | 1,828 |  |  |  | 0.51 |  |  |  | 0.50 |
Per share amounts have been adjusted for the 5% stock dividend paid on May 31, 2018. The growth in interest income and net interest income in the first three quarters of 2019 was primarily due to growth in earning assets, which was partially offset by a tightening of ChoiceOne’s net interest spread. The increase in the fourth quarter of 2019 resulted primarily from the merger with County. The increase that occurred during 2018 in interest income and net interest income was due to growth in earning assets and a widening of ChoiceOne’s net interest spread resulting from rising general market interest rates. Net income in 2019 was lower than the prior year primarily as a result of merger-related expenses incurred in 2019.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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