Choice Financial Group
Fargo, North Dakota, Cass County
$6.4B in total assets, the 246th largest of 4,309 US banks and 2nd of 60 headquartered in North Dakota.
- FDIC certificate
- 9423
- Established
- 1906
- Owned by
- Choice Financial Holdings Inc
- Primary regulator
- FDIC
At a glance
Compared with 11 banks headquartered in North Dakota with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $6.4B | 98% | $2.4B | |
| Loans | $3.2B | 82% | $1.9B | |
| Deposits | $5.1B | 91% | $2.0B | |
| Return on assets | 1.25% | 36% | 1.30% | |
| Net interest margin | 3.28% | 9% | 3.89% | |
| Efficiency ratio | 54.9% | 18% | 63.1% | |
| Equity to assets | 11.26% | 91% | 9.24% | |
| Loans to deposits | 63% | 2% | 91% |
Growth
Total assets grew 14.8% a year over the last 5 years and 18.9% a year over 10 years, including 1 acquisition in the last 10 years.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Sep 2018 | Venture Bank Bloomington, MN | $734M |
| Oct 2015 | Northland Financial Steele, ND, an affiliate under the same holding company | $197M |
| Apr 2014 | Great Plains National Bank Belfield, ND, an affiliate under the same holding company | $217M |
| Apr 2013 | Choice Financial Savings Bank Comfrey, MN, an affiliate under the same holding company | $16M |
| Nov 2001 | First Capital Bank of North Dakota West Fargo, ND | $20M |
| Nov 2001 | First State Bank Langdon Langdon, ND | $69M |
| Nov 2001 | Walhalla State Bank Walhalla, ND | $37M |
Where they operate
18 branches in 14 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Hennepin County, MN | $2.6B | 1.8% | 9 of 68 |
| Cass County, ND | $1.0B | 8.9% | 4 of 28 |
| Grand Forks County, ND | $248M | 8.6% | 6 of 15 |
| Dakota County, MN | $225M | 2.3% | 10 of 32 |
| Stark County, ND | $196M | 9.7% | 4 of 10 |
| Burleigh County, ND | $181M | 3.3% | 13 of 16 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net loss of 2 branches since 2016 (20 to 18, −10.0%). 2 opened, 4 acquired, 8 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 20 | |||
| 2016 | Closed Bismarck | 0 | 1 | −1 | 19 |
| 2018 | Acquired Venture BankClosed Goodrich and South Heart | 4 | 2 | +2 | 21 |
| 2019 | Sold 1 branch to Triumph State BankSold 1 branch to First United Bank, opened Moorhead | 1 | 2 | −1 | 20 |
| 2021 | Closed Medina | 0 | 1 | −1 | 19 |
| 2022 | Closed Bismarck | 0 | 1 | −1 | 18 |
| 2024 | Opened BismarckClosed Bismarck | 1 | 1 | 0 | 18 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Commercial real estate | 35% | 24% | |
| Business (C&I) | 15% | 17% | |
| Agricultural | 12% | 11% | |
| 1-4 family residential | 11% | 18% | |
| Farmland | 9% | 9% | |
| Multifamily | 8% | 8% | |
| Construction and land | 6% | 6% | |
| Consumer | 1% | 5% | |
| Other | 2% | 2% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 78% | 56% | |
| Noninterest-bearing | 15% | 17% | |
| Time deposits | 6% | 27% |
Brokered deposits are 26.7% of deposits (peers 2.0%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 0.62% | 0.90% |
| Net charge-offs, annualized | 0.31% | 0.13% |
| Reserves to loans | 1.17% | 1.17% |
| Leverage ratio | 10.84% | 9.61% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in North Dakota
Largest competitors in Hennepin County, MN
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/choice-group