Choice Financial

Choice Financial Locations
4501 South Washington St
Grand Forks , ND 58201
888.275.6010
www.choicefinancialgroup.com

Choice Financial is headquartered in Grafton and is the 11st largest bank in the state of North Dakota. It is also the 1,121st largest bank in the nation. It was established in 1906 and as of March of 2012, it had grown to 150 employees at 9 locations. Choice Financial has a 4-star health rating.

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Choice Financial Savings Account Rates

ApyMinMaxProduct
0.55%$15k-Health Savings Account
0.55%$15k-Business Health Savings Account

Rates updated: 5/27/2012

Data for Q1 2012


Institution Statistics


Choice Financial Group
FDIC Certificate #9423
BankRate ReportView
Year Established1906
Employees150
Primary RegulatorFDIC

Assets and Liabilities

Assets$595.08 million
Loans$463.72 million
Deposits$525.48 million
Equity Capital$59.32 million
Loan Loss Allowance$5.20 million
Unbacked Noncurrent Loans$14.35 million
Real Estate Owned$2.01 million

Historic Data - March 2011

Assets$583.31 million
Equity Capital$51.53 million
Loan Loss Allowance$6.04 million
Unbacked Noncurrent Loans$19.20 million
Real Estate Owned$3.56 million

Profit Margin - Quarterly

Net Interest Margin4.21%
Return on Assets2.85%
Return on Equity28.53%
Interest Income$7.16 million

Institution Health


Overall Score:
4 out of 5
4
Texas Ratio3
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of March 31, 2012 Choice Financial had $16.35 million in non-current loans and owned real-estate with $64.52 million in equity and loan loss allowances on hand to cover it. This gives Choice Financial a Texas Ratio of 25.35% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend4
The Texas Ratio for Choice Financial decreased slightly from 39.53% as of March 31, 2011 to 25.35% as of March 31, 2012, resulting in a positive change of 35.87%.This indicates that the balance sheet and financial strength for Choice Financial has improved slightly in recent periods.
Deposit Growth4
In the past year, Choice Financial has increased its total deposits by $20.05 million, resulting in 3.97% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Choice Financial has shown is above average.
Capitalization4
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Choice Financial has $595.08 million in assets with $64.52 million in equity, resulting in a capitalization level of 10.84%, which is above average.
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