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 1,169th largest bank in the nation. It was established in 1906 and as of September of 2011, it had grown to 152 employees at 9 locations. Choice Financial has a 3-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: 2/11/2012

Data for Q3 2011


Institution Statistics


Choice Financial Group
FDIC Certificate #9423
BankRate ReportView
Year Established1906
Employees152
Primary RegulatorFDIC

Assets and Liabilities

Assets$571.66 million
Loans$460.86 million
Deposits$484.19 million
Equity Capital$57.29 million
Loan Loss Allowance$5.91 million
Unbacked Noncurrent Loans$17.14 million
Real Estate Owned$4.66 million

Historic Data - September 2010

Assets$570.11 million
Equity Capital$51.04 million
Loan Loss Allowance$8.18 million
Unbacked Noncurrent Loans$20.78 million
Real Estate Owned$291,000

Profit Margin - Quarterly

Net Interest Margin4.05%
Return on Assets1.24%
Return on Equity13.21%
Interest Income$21.64 million

Institution Health


Overall Score:
3 out of 5
3
Texas Ratio2
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 September 30, 2011 Choice Financial had $21.8 million in non-current loans and owned real-estate with $63.2 million in equity and loan loss allowances on hand to cover it. This gives Choice Financial a Texas Ratio of 34.50% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Choice Financial held steady from 35.57% as of September 30, 2010 to 34.50% as of September 30, 2011, resulting in a positive change of 3.03%.This indicates that the balance sheet and financial strength for Choice Financial has held steady in recent periods.
Deposit Growth2
In the past year, Choice Financial has decreased its total deposits by -$6.48 million, resulting in -1.32% 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 below 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 $571.66 million in assets with $63.2 million in equity, resulting in a capitalization level of 11.05%, which is above average.
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