FDIC Certificate #: 12197 Status: Active Federal Reserve ID: 281751 Bank Holding Company (Regulatory Top Holder): Choice Financial Holdings, Inc. (RSSDID: 1125030, Location: Grafton, ND) Date Established: April 01, 1908 WWW:http://www.choicefinancialsavings.com Trust Powers Granted: No Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS) Offices: 1 (Domestic: 1, Interstate: No) OTS Docket #: 18002 FDIC's unique #: 7747 Numeric code: 33 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) FDIC Insured: Yes Insured Savings Institution: Yes Deposit Insurance Fund member: Yes Agricultural lending institution: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: No Subchapter S Corporations: No Asset Concentration Hierarchy: Agricultural Specialization Date of Deposit Insurance: September 15, 2005 Last Structure Change Effective Date: July 21, 2011 Last Structure Change Process Date: July 21, 2011 Last Data Update: July 21, 2011 Data Source Date: April 05, 2012
Location
Address: 101 Brown Street West, Comfrey, MN 56019 County: Brown Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Mankato Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West Core Based Statistical Area (CBSA): New Ulm, MN (#35580) CBSA Micro Statistical Area: Yes
History of Changes
Change in Primary Regulatory Agency
Financial Summary
Total assets: $15.0 mil Equity capital: $2.0 mil Deposits held in domestic offices: $12.9 mil Return on assets (ROA): 0.70% ($0.1 mil) Quarterly return on assets: 0.36% ($0.1 mil) Return on Equity (ROE): 5.66% ($0.1 mil) Quarterly return on equity: 2.75% ($0.1 mil) Net income: $0.1 mil Quarterly Net income: $0.0 mil Pretax return on assets: 1.03% ($154.3 mil) Quarterly Pretax return on assets: 0.52% ($77.9 mil)
1992 - 1999 Historical total assets, liabilities and capital ($ 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
4Total employees (full-time equivalent)
$14,981Total assets
$940Cash and due from depository institutions
$25Interest-bearing balances
$5,611Securities
$0Federal funds sold & reverse repurchase agreements
$7,496Net loans & leases
$112Loan loss allowance
$0Trading account assets
$75Bank premises and fixed assets
$0Other real estate owned
$425Goodwill and other intangibles
$14,981Life insurance assets
$434All other assets
$12,948Total liabilities and capital
$12,850Total liabilities
$10,894Total deposits
$12,850Interest-bearing deposits
$99Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$0Trading liabilities
$0Other borrowed funds
$98Subordinated debt
$2,033All other liabilities
$2,033Total equity capital
$2,033Total bank equity capital
$0Perpetual preferred stock
$120Common stock
$2,861Surplus
$-948Undivided profits
Memoranda
$0Noncurrent loans and leases
$0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$334Income earned, not collected on loans
$0Earning assets
$128Long-term assets (5+ years)
$13,132Average Assets, year-to-date
$5,467Average Assets, quarterly
$15,763Volatile liabilities
$15,367Insider loans
$8,709FHLB advances
$14,457Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$1,472Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$758Restructured Loans and leases
$634Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$623Total interest income
$113Total interest expense
$510Net interest income
-$90Provision for loan and lease losses
$55Total noninterest income
$0Fiduciary activities
$49Service charges on deposit accounts
$0Trading account gains & fees
$6Additional noninterest income
$493Total noninterest expense
$214Salaries and employee benefits
$55Premises and equipment expense
$224Additional noninterest expense
$162Pre-tax net operating income
$0Securities gains (losses)
$51Applicable income taxes
$111Income before extraordinary items
$0Extraordinary gains - net
$111Net income attributable to bank
$0Net charge-offs
$111Cash dividends
-$62Sale, conversion, retirement of capital stock, net
$0Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
4.61%Yield on earning assets
0.84%Cost of funding earning assets
3.77%Net interest margin
0.41%Noninterest income to earning assets
3.65%Noninterest expense to earning assets
0.70%Net operating income to assets
0.70%Return on assets (ROA)
1.03%Pretax return on assets
5.66%Return on equity (ROE)
5.66%Retained earnings to average equity (YTD only)
-0.79%Net charge-offs to loans
145.16%Credit loss provision to net charge-offs
0.00%Efficiency ratio
83,894Assets per employee
3.75%Cash dividends to net income (YTD only)
Condition Ratios (%)
0.00%Loss allowance to loans
1.47%Loss allowance to noncurrent loans
33.53%Noncurrent assets plus other real estate owned to assets
2.23%Noncurrent loans to loans
4.39%Net loans and leases to deposits
58.33%Net loans and leases to core deposits
62.25%Equity capital to assets
13.57%Core capital (leverage) ratio
10.18%Tier 1 risk-based capital ratio
16.90%Total risk-based capital ratio
Memoranda
$18Average assets
$15,763Average earning assets
$1,963Average equity
$13,514Average loans
List of branches
1 Minnesota Branch as of April 05, 2012
No
ID
Name
Address
Established
Service Type
Map
0
7747
Choice Financial Savings Bank
101 Brown Street West, Comfrey, MN 56019
April 01, 1908
Full Service Brick and Mortar
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