ChoiceOne Bank was ranked as Michigan’s best small financial institution by Newsweek for the second year in a row.
Sparta-based ChoiceOne Financial Services (Nasdaq: COFS), the parent company of ChoiceOne Bank, said ChoiceOne Bank was ranked as Michigan’s “Best Small Bank” by Newsweek in its 2022 ranking of America’s Best Banks.
ChoiceOne also was recognized last year in the inaugural America’s Best Banks lists.
Best Bank winners were selected from among 2,508 financial institutions and assessed on more than 30 factors, including the overall health of the bank, customer service performance and features, digital and branch presence, account and loan options, interest rate offerings and fees. The Best Small Bank in each state needed less than $10 billion in assets and had to be among the five banks with the most branches in the state. ChoiceOne has 31 branches.
“We are extremely honored to once again stand out across the country as Michigan’s Best Small Bank,” said Kelly Potes, ChoiceOne CEO. “ChoiceOne Bank has always taken the lead in presenting our customers with the financial technology they require, offering mobile banking, mobile deposits, innovative payroll solutions, online loan applications, online account openings, Zelle and Plinqit, a digital mobile savings tool. Our innovative strategies continue to allow us to offer our customers the best technology while still maintaining our personal approach to banking with our customer service center and full-service branch network.”
ChoiceOne Bank said it had products and services in place that would help it pivot to remote banking when it became clear in March 2020 that new safety measures had to be implemented because of the pandemic. The bank was able to offer new loans and loan forgiveness programs to those needing assistance.
“As a Michigan community bank, we understand the different challenges facing our customers and our communities today,” said ChoiceOne President Michael Burke Jr. “I am extremely proud of our teams across the state. They continue to show up with compassion and assuredness to help find financial solutions for the individuals, families, farmers and businesses in our communities.”
The full America’s Best Banks ranking in the small banks category is online.
Newsweek named Pittsburgh-based PNC Bank as the Best Big Bank in Michigan for 2022. The list for that category is here.