Choice Financial Group in city_name, state_name - Detailed Financial Reports, Location

Choice Financial Group in Grafton, North Dakota (ND)
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Choice Financial Group routing number info

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

No	ID	Name	Address	Established	Service Type
0	6054	Choice Financial Group	645 Hill Avenue, Grafton, ND 58237	January 01, 1906	Full Service Brick and Mortar
1	220116	Petersburg Branch	202 South Fifth Street, Petersburg, ND 58272	January 17, 1995	Full Service Brick and Mortar
2	5341	Walhalla State Bank Branch	Main Street, Walhalla, ND 58282	January 01, 1915	Full Service Brick and Mortar
3	10373	First State Bank Langdon Branch	210 Eighth Avenue, Langdon, ND 58249	March 28, 1905	Full Service Brick and Mortar
4	10124	First Capital Bank Of North Dakota B	210 Sheyenne Street, West Fargo, ND 58078	January 01, 1902	Full Service Brick and Mortar
6	235725	Goodrich Branch	123 Clark Avenue, Goodrich, ND 58444	August 25, 1999	Full Service Brick and Mortar
7	425757	Grand Forks Branch	1697 South 42nd Street, Grand Forks, ND 58201	January 20, 2004	Full Service Brick and Mortar
9	456852	South Fargo Office	4501 23rd Avenue South, Fargo, ND 58103	December 04, 2006	Full Service Brick and Mortar
10	463640	Grand Forks Branch	4501 South Washington Street, Unit T, Grand Forks, ND 58201	June 05, 2007	Full Service Brick and Mortar

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

Choice Financial Group - Overview

Assets and Liabilities (December 31, 2011)

Income and Expense (December 31, 2011)

Performance and Condition Ratios (December 31, 2011)

List of branches

Comment about this bank, ask questions, or add new information about it:

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

Choice Financial Group - Overview

Assets and Liabilities (December 31, 2011)

Income and Expense (December 31, 2011)

Performance and Condition Ratios (December 31, 2011)

List of branches

Comment about this bank, ask questions, or add new information about it:

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