Choice Financial Group in Grafton, North Dakota (ND)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Choice Financial Group in Grafton, North Dakota (ND)
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Choice Financial Group - Overview

  • General
  • FDIC Certificate #: 9423
    Status: Active
    Federal Reserve ID: 826956
    Bank Holding Company (Regulatory Top Holder): Choice Financial Holdings, Inc. (RSSDID: 1125030, Location: Grafton, ND)
    Date Established: January 01, 1906
    WWW: http://www.choicefinancialgroup.com
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 9 (Domestic: 9, Interstate: No)
    OTS Docket #: 14054
    FDIC's unique #: 6054
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Agricultural lending institution: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: Yes
    Asset Concentration Hierarchy: Agricultural Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 645 Hill Avenue, Grafton, ND 58237
    County: Walsh
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Grand Forks
    Office of the Comptroller the Currency (OCC) District: Central
    Office of Thrift Supervision Region: West
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $593.8 mil
    Equity capital: $59.6 mil
    Deposits held in domestic offices: $513.0 mil
    Return on assets (ROA): 1.40% ($8.3 mil)
    Quarterly return on assets: 1.91% ($11.3 mil)
    Return on Equity (ROE): 14.88% ($8.9 mil)
    Quarterly return on equity: 19.07% ($11.4 mil)
    Net income: $8.1 mil
    Quarterly Net income: $2.8 mil
    Pretax return on assets: 1.48% ($8,787.9 mil)
    Quarterly Pretax return on assets: 2.04% ($12,113.1 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 150Total employees (full-time equivalent)
  • $593,779Total assets
  • $17,063Cash and due from depository institutions
  • $696Interest-bearing balances
  • $81,847Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $471,440Net loans & leases
  • $4,739Loan loss allowance
  • $0Trading account assets
  • $8,140Bank premises and fixed assets
  • $4,908Other real estate owned
  • $919Goodwill and other intangibles
  • $593,779Life insurance assets
  • $9,462All other assets
  • $534,215Total liabilities and capital
  • $512,956Total liabilities
  • $414,675Total deposits
  • $512,956Interest-bearing deposits
  • $85Deposits held in domestic offices
  • 7185.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $11,000Trading liabilities
  • $0Other borrowed funds
  • $3,074Subordinated debt
  • $59,564All other liabilities
  • $59,564Total equity capital
  • $59,564Total bank equity capital
  • $0Perpetual preferred stock
  • $100Common stock
  • $38,642Surplus
  • $20,822Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $14,386Income earned, not collected on loans
  • $0Earning assets
  • $6,024Long-term assets (5+ years)
  • $553,983Average Assets, year-to-date
  • $112,562Average Assets, quarterly
  • $579,057Volatile liabilities
  • $582,718Insider loans
  • $499,274FHLB advances
  • $576,424Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $55,721Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $91,705Restructured Loans and leases
  • $30,321Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $29,012Total interest income
  • $6,686Total interest expense
  • $22,326Net interest income
  • $3,950Provision for loan and lease losses
  • $4,967Total noninterest income
  • $0Fiduciary activities
  • $642Service charges on deposit accounts
  • $0Trading account gains & fees
  • $4,325Additional noninterest income
  • $14,796Total noninterest expense
  • $8,608Salaries and employee benefits
  • $1,624Premises and equipment expense
  • $4,564Additional noninterest expense
  • $8,547Pre-tax net operating income
  • $14Securities gains (losses)
  • $432Applicable income taxes
  • $8,129Income before extraordinary items
  • $0Extraordinary gains - net
  • $8,129Net income attributable to bank
  • $0Net charge-offs
  • $8,129Cash dividends
  • $4,052Sale, conversion, retirement of capital stock, net
  • $525Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.34%Yield on earning assets
  • 1.23%Cost of funding earning assets
  • 4.11%Net interest margin
  • 0.91%Noninterest income to earning assets
  • 2.72%Noninterest expense to earning assets
  • 1.40%Net operating income to assets
  • 1.40%Return on assets (ROA)
  • 1.48%Pretax return on assets
  • 14.88%Return on equity (ROE)
  • 13.92%Retained earnings to average equity (YTD only)
  • 0.87%Net charge-offs to loans
  • 97.48%Credit loss provision to net charge-offs
  • 3.08%Efficiency ratio
  • 54,190Assets per employee
  • 3.96%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 6.46%Loss allowance to loans
  • 1.00%Loss allowance to noncurrent loans
  • 32.94%Noncurrent assets plus other real estate owned to assets
  • 3.25%Noncurrent loans to loans
  • 3.02%Net loans and leases to deposits
  • 91.91%Net loans and leases to core deposits
  • 114.79%Equity capital to assets
  • 10.03%Core capital (leverage) ratio
  • 9.67%Tier 1 risk-based capital ratio
  • 11.16%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $579,057Average earning assets
  • $54,641Average equity
  • $543,229Average loans

List of branches

  • 9 North Dakota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    06054Choice Financial Group645 Hill Avenue, Grafton, ND 58237January 01, 1906Full Service Brick and Mortar
    1220116Petersburg Branch202 South Fifth Street, Petersburg, ND 58272January 17, 1995Full Service Brick and Mortar
    25341Walhalla State Bank BranchMain Street, Walhalla, ND 58282January 01, 1915Full Service Brick and Mortar
    310373First State Bank Langdon Branch210 Eighth Avenue, Langdon, ND 58249March 28, 1905Full Service Brick and Mortar
    410124First Capital Bank Of North Dakota B210 Sheyenne Street, West Fargo, ND 58078January 01, 1902Full Service Brick and Mortar
    6235725Goodrich Branch123 Clark Avenue, Goodrich, ND 58444August 25, 1999Full Service Brick and Mortar
    7425757Grand Forks Branch1697 South 42nd Street, Grand Forks, ND 58201January 20, 2004Full Service Brick and Mortar
    9456852South Fargo Office4501 23rd Avenue South, Fargo, ND 58103December 04, 2006Full Service Brick and Mortar
    10463640Grand Forks Branch4501 South Washington Street, Unit T, Grand Forks, ND 58201June 05, 2007Full Service Brick and Mortar

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