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Note 22 - Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2020
Notes to Financial Statements |
Quarterly Financial Information [Text Block] | Note 2 2 – Quarterly Financial Data (Unaudited)
|  |  |  |  |  | Net |  |  |  |  |  |  | Earnings Per Share |
(Dollars in thousands, except per share data) |  | Interest |  |  | Interest |  |  | Net |  |  |  |  |  |  | Fully |
|  | Income |  |  | Income |  |  | Income |  |  | Basic |  |  | Diluted |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First Quarter |  | $ | 12,662 |  |  | $ | 11,138 |  |  | $ | 3,254 |  |  | $ | 0.45 |  |  | $ | 0.45 |
Second Quarter |  |  | 12,863 |  |  |  | 11,879 |  |  |  | 4,430 |  |  |  | 0.61 |  |  |  | 0.61 |
Third Quarter |  |  | 15,150 |  |  |  | 14,062 |  |  |  | 3,829 |  |  |  | 0.49 |  |  |  | 0.49 |
Fourth Quarter |  |  | 15,040 |  |  |  | 13,992 |  |  |  | 4,100 |  |  |  | 0.53 |  |  |  | 0.52 |
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 |
The growth in interest income and net interest income in the first two quarters of 2020 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 third and fourth quarters of 2020 resulted primarily from the merger with County. The increase that occurred during 2019 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.

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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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