Choice Financial Group


Choice Financial Group is an FDIC insured institution headquartered at 4501 23rd Ave S, Fargo, ND 58104.
It was founded in 1906 and has approximately $5 billion in assets. Customers can open an account at one of its 20 branches.

Deposit Rates - July 25, 2024

SAVINGS RATES APY MIN
CD RATES APY MIN
6 Mo CD
0.30% $10,000 Compare
6 Mo CD
0.40% $100,000 Compare
MM RATES APY MIN
Money Market
0.05% $2,500 Compare
Money Market
0.10% $10,000 Compare
Money Market
0.20% $25,000 Compare
INT CHECKING RATES APY MIN
Int Ckg
0.05% $2,500

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 9423
Date Established 1906
Assets $ 4.80 billion
Loans $ 3.05 billion
Deposits $ 4.24 billion
Capital $ 523.09 million

Summary Balance Sheet as of March 31, 2024

ASSETS
Cash & Balances due from depository institutions $ 526.58 million
Interest-bearing balances $ 498.43 million
Total securities $ 1,009.87 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 3.05 billion
Loan loss allowance $ 39.20 million
Trading account assets $ 0.06 million
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 63.78 million
All other assets $ 109.11 million
     Total Assets $ 4.28 billion

LIABILITIES
Total deposits $ 4.24 billion
      Interest-bearing deposits $ 3.54 billion
      Deposits held in domestic offices $ 4.24 billion
      % insured (estimated) 71.65%
Federal funds purchased and repurchase agreements $ 9.68 million
Trading liabilities N.A.
Other borrowed funds $ 36.00 million
Subordinated debt N.A.
All other liabilities $ 14.84 millionn
      Total Liabilities $ 4.28 billion
      Shareholders’ Equity $ 523.09 million

Summary Income Statement as of March 31, 2024

INCOME AND EXPENSES
Total Interest Income $ 70.16 million
Total Interest Expense $ 36.29 million
Net interest income $ 33.87 million
Provision for loan and lease losses $ 0.61 million
Total non interest income $ 16.52 million
Total non interest expense $ 23.87 million
Pre-tax Net Operating Income $ 39.41 million

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Branches

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Your current location is: Ashburn, VA

Choice Financial Group Locations

Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only.

  • 1
    LOCAL CD
    Bank
    NORTH DAKOTA
    $50,000
    6 Month
    0.30%
    0.74x (National Avg. - 0.40%)
    $10,000
    -
    SCENARIO
    Year Rate
    0.30%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 150 105
    2 50,150 150 105
    3 50,300 151 106
    4 50,451 151 106
    5 50,603 152 106
    6 50,755 152 107
    7 50,907 153 107
    8 51,059 153 107
    9 51,213 154 108
    10 51,366 154 108
    11 51,520 155 108
    12 51,675 155 109
    13 51,830 155 109
    14 51,985 156 109
    15 52,141 156 109
    16 52,298 157 110
    17 52,455 157 110
    18 52,612 158 110
    19 52,770 158 111
    20 52,928 159 111
    TOTAL $3,087 $2,161
  • 2
    LOCAL CD
    Bank
    -
    $50,000
    7 Month
    5.05%
    N.A.
    $5,000
    -
    SCENARIO
    Year Rate
    5.05%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,525 1,768
    2 52,525 2,653 1,857
    3 55,178 2,786 1,951
    4 57,964 2,927 2,049
    5 60,891 3,075 2,153
    6 63,966 3,230 2,261
    7 67,196 3,393 2,375
    8 70,590 3,565 2,495
    9 74,155 3,745 2,621
    10 77,899 3,934 2,754
    11 81,833 4,133 2,893
    12 85,966 4,341 3,039
    13 90,307 4,561 3,192
    14 94,868 4,791 3,354
    15 99,659 5,033 3,523
    16 104,691 5,287 3,701
    17 109,978 5,554 3,888
    18 115,532 5,834 4,084
    19 121,367 6,129 4,290
    20 127,496 6,439 4,507
    TOTAL $83,934 $58,754
  • 3
    LOCAL CD
    Bank
    -
    $50,000
    12 Month
    5.15%
    9.20x (National Avg. - 0.56%)
    $5,000
    -
    SCENARIO
    Year Rate
    5.15%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,575 1,803
    2 52,575 2,708 1,895
    3 55,283 2,847 1,993
    4 58,130 2,994 2,096
    5 61,123 3,148 2,203
    6 64,271 3,310 2,317
    7 67,581 3,480 2,436
    8 71,062 3,660 2,562
    9 74,721 3,848 2,694
    10 78,569 4,046 2,832
    11 82,616 4,255 2,978
    12 86,870 4,474 3,132
    13 91,344 4,704 3,293
    14 96,049 4,946 3,463
    15 100,995 5,201 3,641
    16 106,196 5,469 3,828
    17 111,665 5,751 4,026
    18 117,416 6,047 4,233
    19 123,463 6,358 4,451
    20 129,821 6,686 4,680
    TOTAL $86,507 $60,555