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First Choice Bank (So Calif) -- Very Nice Local Bank (At Least For CD Accounts)

Just a quick post here. People rarely post when a bank does something good, and I thought First Choice Bank deserved a quick mention here. Note that this has to do only with a CD account, I have no idea what the bank is like with their checking or savings accounts.

My dad wanted to open a CD with them a few years ago, as at the time they were offering a CD with a good interest rate (among the highest). I drove my dad down to a branch (about 45 mins from where we live) but it was a few days later that we actually went down to the branch (if I remember right, it was the following Monday) by which time the rates had lowered. But.. the teller was very nice to my dad, and offered him something half way between the old rate and the newer (lower) rate -- something they surely didn't have to do, as it was the following week and the rates had dropped. But they met us halfway.

Then when it came time to close the CD recently, their rates had dropped somewhat, and there was a rate special going on at another institution, so my dad wanted to transfer the money to another institution. Because he didn't have a savings or checking account with them (only a CD account), ACH wasn't really a choice (also because of the amount), so a wire would have to be used. Normally they have a wire fee (I forget if it's $20 or $25 normally) -- but when my dad went to close the account, they actually waived the transfer fee for him, smiled, and were very friendly.

Now don't take this to mean this will happen for everyone (YMMV). But I just thought that was really nice of the bank to do -- on both occasions. We didn't have savings or checking with them (because their branches are kind of far for us) but whenever I called or went into the branch with my dad for the CD, they were always helpful, and really friendly.

Over the last few years they've had some good rates, and if they offer some good deals again, I won't hesitate to go back to them. If you live close to them, I think they're at least worth considering.

My Best Choice

I am in business 15 Years, I deal With many bank in my past years, After all of my experience with different Bank, I am stay with First Choice bank, They have a very trustable business manner, excellent service, Everyone working in this bank, They care bout all the customer, I always go to Alhambra branch, Branch manager is Frances Lo (Tel: 626/300-8987 ) 407 W. Valley Blvd., Suite 1 Alhambra, CA 91803

First choice bank offer competitive interest rate and excellent customer service. First Choice Bank offer 1.49% interest rate for 60 months CD, early withdrawal penalty of the 60 months CD is 90 days interest. First Choice bank offer Deposit Remote Capture scanner for business customer making deposit any time and convenience, It is a good choice to working with First Chioce Bank.

Jennifer Lee

Good Local Community Bank (At Least In Dealing With Cds)

Just wanted to chime in. NOTE that this review is just a general one for the bank, as we've only had CD products with them (no checking, savings, or credit card accounts because they're a little far from where we live). So keep that in mind. But what we've seen so far, we've liked.

We have some funds at First Choice Bank, and we've been very happy with them. They're not our general banking bank because we don't live close by (we're about 30 minutes from any branch -- close enough to go for a CD there, but for practicality's sake, too far to do everyday banking there). So our experience has been just general experience with the bank staff, and with CDs. That said though, everything about the place seemed good. Once when I drove my dad up to open a CD for himself there, the rate had changed from what he was told over the phone the day before. Of course rates are subject to change without notice so the bank had every right to change the rate the next day, but the person at the bank offered to split the difference between the old (better) rate and the newer (lower) rate and give that to my dad, which I thought was very nice. The staff at the bank has always been friendly and knowledgeable. Very professional and friendly, a lot like, well, a community bank. Though their rates can vary, they've occasionally had some good CD rates available (why we've gone there) and truthfully, if they were closer to use, we'd at least consider them for regular banking. If you live near their branches (I think they only have a few; we've always gone to the Cerritos one), they're definitely worth checking out. They're certainly so much better than Wells Fargo or Chase or BofA.


SERVICE this bank don't even know what service mean late,late,late,answers,and no explication at all...



Data for Q4 2013

Institution Health


Texas Ratio


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 December 31, 2013 First Choice Bank had $868,000 in non-current loans and owned real-estate with $38.23 million in equity and loan loss allowances on hand to cover it. This gives First Choice Bank a Texas Ratio of 2.27% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for First Choice Bank decreased dramatically from 6.46% as of December 31, 2012 to 2.27% as of December 31, 2013, resulting in a positive change of 64.85%.This indicates that the balance sheet and financial strength for First Choice Bank has improved dramatically in recent periods.

Deposit Growth


In the past year, First Choice Bank has increased its total deposits by $89.84 million, resulting in 31% 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.



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 $440.05 million in assets with $38.23 million in equity, resulting in a capitalization level of 8.69%, which is average.

Institution Statistics

FDIC Certificate #57966
Year Established2005
Primary RegulatorFDIC
Assets and Liabilities
Assets$440.05 million
Loans$342.95 million
Deposits$379.69 million
Equity Capital$32.49 million
Loan Loss Allowance$5.75 million
Unbacked Noncurrent Loans$521,000
Real Estate Owned$347,000
Historic Data - December 2012
Assets$334.33 million
Equity Capital$33.09 million
Loan Loss Allowance$3.26 million
Unbacked Noncurrent Loans$521,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin3.61%
Return on Assets0.72%
Return on Equity8.01%
Interest Income$16.02 million

Always verify rates and promotions with the bank or credit union. We are not First Choice Bank, we are a rate comparison website and can not provide official rates or promotions.

First Choice Bank Savings Account Rates

1.00%$250k$2mElite Personal Savings
1.00%$250k$2mPremier Business Savings
0.50%$100k-Personal Savings
0.50%$100k-Business Savings

First Choice Bank Money Market Rates

0.60%$1m-Personal Money Market
0.60%$1m-Business Money Market

First Choice Bank Checking Account Rates

1.00%$250k$2mElite Personal Interest Checking
1.00%$250k$2mPremier Business Interest Checking
0.20%$500-Personal NOW Account
0.20%$2,500-Business NOW Account

First Choice Bank CD Rates

1.10%$50k$250k60 Month CD
1.10%$50k$250kBusiness 60 Month CD
0.90%$10k-48 Month CD
0.90%$10k-Business 48 Month CD
0.85%$50k$250k36 Month CD
0.85%$50k$250kBusiness 36 Month CD
0.80%$50k$250k541-730 Day CD
0.80%$50k$250kBusiness 541-730 Day CD
0.75%$50k$250k366-540 Day CD
0.75%$50k$250kBusiness 366-540 Day CD
0.35%$10k-30-91 Day CD
0.35%$10k-92-182 Day CD
0.35%$10k-183-287 Day CD
0.35%$10k-288-365 Day CD
0.35%$10k-Business 30-91 Day CD
0.35%$10k-Business 92-182 Day CD
0.35%$10k-Business 183-287 Day CD
0.35%$10k-Business 288-365 Day CD

First Choice Bank Locations
First Choice Bank17414 Carmenita RoadCerritos, CA 90703
Rowland Heights Branch17458 E Colima RoadRowland Heights, CA 91748
Anaheim Branch2401 E Katella Ave Suite 125Anaheim, CA 92806
Alhambra Branch407 West Valley Blvd., Suite 1Alhambra, CA 91801