17414 Carmenita Road
Cerritos, CA 90703
562-345-9092
www.firstchoicebankca.com



First Choice Bank is headquartered in Cerritos and is the 142nd largest bank in the state of California. It is also the 2,735th largest bank in the nation. It was established in 2005 and as of September of 2011, it had grown to 26 employees at 2 locations. First Choice Bank's money market rates are 59% higher than the national average, and it boasts a 5-star health rating.

First Choice Bank Routing Number: 122243994

Related Posts

Top Short-Term CD Rates at First Choice Bank in Southern California - Local Only - 6/30/2011

First Choice Bank continues to offer several very competitive CD rates. My last post on this bank was in December, and it's nice to see that the CD rates have remained the same. The best rates require ...

CD Rate Decrease (Forum) - 12/3/2010

18 month (541 days+) 50k CD rate has dropped from 1.80 to 1.60 effective December 1, 2010

Top CD Rates Continue at First Choice Bank in Southern California - Local Only - 11/5/2010

When I last reported on First Choice Bank , I focused on its short-term and mid-term CD rates. As long-term rates have fallen at other banks, First Choice Bank now has competitive long-term rates also ...

Top 1-Year CD Rate at First Choice Bank in Southern California - Local Only - 10/13/2010

First Choice Bank continues to have competitive short-term and mid-term CD rates. The rates have fallen some since my previous posts, but the rates continue to be 10 to 25 basis points higher than wha ...

2010

2009




See Rates for: Checking | Savings | Money Market | CD

First Choice Bank Checking Account Rates

ApyMinMaxProduct
0.25%$500-Personal NOW Account
0.25%$2,500-Business NOW Account

First Choice Bank Savings Account Rates

ApyMinMaxProduct
0.75%$100k-Personal Savings
0.75%$100k-Business Savings

First Choice Bank Money Market Rates

ApyMinMaxProduct
0.95%$1m-Personal Money Market
0.95%$1m-Business Money Market

First Choice Bank CD Rates

ApyMinMaxProduct
2.05%$50k$500k60 Month CD
2.05%$50k$500k60 Month Business CD
1.80%$50k$500k48 Month CD
1.80%$50k$500k48 Month Business CD
1.60%$50k$500k36 Month CD
1.60%$50k$500k36 Month Business CD
1.30%$50k$500k541 - 730 Day CD
1.30%$50k$500k541 - 730 Day Business CD
1.15%$50k$500k366 - 540 Day CD
1.15%$50k$500k366 - 540 Day Business CD
1.05%$50k$500k288 - 365 Day CD
1.05%$50k$500k288 - 365 Day Business CD
0.90%$50k$500k183 - 287 Day CD
0.90%$50k$500k183 - 287 Day Business CD
0.65%$50k$500k92 - 182 Day CD
0.65%$50k$500k92 - 182 Day Business CD
0.40%$2,500-30 - 91 Day CD
0.40%$2,500-30 - 91 Day Business CD
0.20%$100k-7 - 29 Day CD
0.20%$100k-7 - 29 Day Business CD

Rates updated: 2/11/2012

Data for Q3 2011


Institution Statistics


First Choice Bank
FDIC Certificate #57966
BankRate ReportView
Year Established2005
Employees26
Primary RegulatorFDIC

Assets and Liabilities

Assets$232.42 million
Loans$109.02 million
Deposits$200.94 million
Equity Capital$24.80 million
Loan Loss Allowance$2.24 million
Unbacked Noncurrent Loans$171,000

Historic Data - September 2010

Assets$183.34 million
Equity Capital$16.59 million
Loan Loss Allowance$1.76 million
Unbacked Noncurrent Loans$2.25 million
Real Estate Owned$2.19 million

Profit Margin - Quarterly

Net Interest Margin3.24%
Return on Assets0.52%
Return on Equity5.35%
Interest Income$6.81 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
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 First Choice Bank had $171,000 in non-current loans and owned real-estate with $27.03 million in equity and loan loss allowances on hand to cover it. This gives First Choice Bank a Texas Ratio of 0.63% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend5
The Texas Ratio for First Choice Bank decreased significantly from 24.18% as of September 30, 2010 to 0.63% as of September 30, 2011, resulting in a positive change of 97.38%.This indicates that the balance sheet and financial strength for First Choice Bank has improved significantly in recent periods.
Deposit Growth5
In the past year, First Choice Bank has increased its total deposits by $41.99 million, resulting in 26.42% 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 First Choice Bank has shown is excellent.
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. First Choice Bank has $232.42 million in assets with $27.03 million in equity, resulting in a capitalization level of 11.63%, which is above average.
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