Choice Financial

What Choice Financial does

Choice Financial Group is a privately held community bank holding company headquartered in Fargo, North Dakota, founded in 2001 and operating Choice Bank as its banking division. The company serves both business and individual customers across the North Dakota region through a relationship-led, community-banking model branded as #PeopleFirst, supported by FDIC membership and SBA designation.

Its core product set spans Business Banking (commercial loans, deposits, credit facilities), Personal Banking (checking, savings, mortgages, personal loans), and Agricultural Lending — an area where the company is recognized as the #1 ag lender in North Dakota by the American Bankers Association. Adjacent service lines include Wealth Management for high-net-worth clients, plus Business Services covering insurance, succession planning, and employee benefits. Digital distribution is provided through dedicated business and personal online banking portals hosted on an ebanking-services.com infrastructure, alongside a separate wealth management login and a local branch network.

The revenue model combines traditional banking interest income from commercial, personal, and agricultural lending, transaction-based banking fees, wealth management advisory fees, and professional services revenue from insurance and benefits. The company is recognized by S&P Global and the Independent Community Bankers of America as a top performing bank / community bank. Pricing is relationship-based and not publicly disclosed.

Name

Choice Financial

Legal name

Choice Financial Group

Website

https://choicefinancialgroup.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

251–500 employees

Short description

Choice Financial Group is a privately held Fargo, North Dakota-based community bank holding company, founded in 2001, operating Choice Bank to provide business banking, personal banking, agricultural lending (#1 in ND), wealth management, and insurance/benefits services to SMB and individual customers across the region.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Depository Credit Intermediation (5221), Portfolio Management and Investment Advice (523940), Insurance Agencies and Brokerages (524210)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

akta.pro secondary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

Keywords

• Community banking services
• Agricultural lending
• Business banking solutions
• Wealth management advisory
• Personal banking products

Headquarters

HQ city

Fargo

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Interest Income: Traditional banking interest income from lending activities including commercial loans, personal loans, and agricultural loans
2. Banking Fees and Service Charges: Fees from deposit accounts, transaction services, and other banking operations
3. Wealth Management Services: Wealth management and financial advisory services for high-net-worth individuals and businesses
4. Business Services: Insurance services, succession planning, and employee benefits services provided through business banking relationships

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Choice Financial Group operates Choice Bank, a community bank offering business banking, personal banking, agricultural lending, wealth management, and ancillary business services such as insurance, succession planning, and employee benefits. Services are delivered through local branches in North Dakota with self-service online and mobile banking platforms. The bank emphasizes local decision-making and relationship-based service under its #PeopleFirst approach.

Product overview

Choice Financial Group operates Choice Bank as a community bank offering a unified suite of banking services. The product portfolio centers on Business Banking and Personal Banking as core offerings, supplemented by Wealth Management, Agricultural Lending specialty products, and Business Services (insurance, succession planning, employee benefits). Digital access is provided through Business Online Banking and Personal Online Banking platforms. The bank also provides free educational resources through its Taking Care of Business Educational Series. Choice Bank positions itself as a relationship-focused community bank with local decision-making authority, serving both individual consumers and businesses with particular strength in agricultural lending.

Differentiator

Problem solved

Functional benefit

Products and services

• Business Banking Traditional business banking services including commercial loans, deposits, and credit facilities for small to medium-sized businesses.
• Personal Banking Individual banking services including checking accounts, savings accounts, mortgages, and personal loans for individual consumers.
• Wealth Management Comprehensive wealth management services including investment management, estate planning, and retirement planning for high-net-worth individuals and families.
• Agricultural Lending Specialized lending products for agricultural businesses and farm operations in North Dakota, including farm loans and ag financing.
• Business Services Additional business services including insurance, succession planning, and employee benefits administration offered through business banking relationships.
• Business Online Banking Digital banking platform for business customers providing online account access, transactions, and financial management tools.
• Personal Online Banking Digital banking platform for personal customers providing online account access, bill pay, fund transfers, and account management.

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• Bell Bank: Fargo, ND-headquartered community bank offering business, personal, and wealth management services. Direct competitor in the same North Dakota market with similar full-service community banking model.
• Alerus Financial: Grand Forks, ND-based financial services company providing banking, retirement, wealth management, and benefits administration. Closely comparable product mix including insurance/business services and a North Dakota community banking footprint.
• First International Bank & Trust: Community bank headquartered in Watford City, ND with branches across North Dakota and the upper Midwest. Comparable community banking model with personal, business, and agricultural lending focus.
• Starion Bank: North Dakota-based community bank (Bismarck headquarters) with a similar mix of business, personal, ag, and mortgage lending. Direct in-market peer competing for the same North Dakota customer base.

Broad incumbents

• Heartland Financial Partners (HTLF / WaFd Bank): Larger multi-state community banking franchise that overlaps with Choice in commercial and ag lending across the upper Midwest. Broader incumbent with deeper capital and a wider footprint.

Regional players

• American National Bank: Omaha, NE-headquartered regional bank offering community-style banking, ag lending, and wealth management. Comparable product set to Choice with a primarily different geographic footprint in the Plains.
• Cornerstone Bank: Nebraska-based community bank providing commercial, ag, and personal banking services. Comparable community bank operating model focused on agricultural and small business customers in the Plains region.
• KleinBank (now Magnifi Financial): Minnesota-headquartered community bank serving small business, ag, and consumer customers in the upper Midwest. Comparable community banking model in a neighboring geography.
• First Western Financial: Community-oriented bank offering commercial, ag, and consumer products in Plains-adjacent markets. Similar full-service community bank profile with comparable revenue mix.

Others

• First Bank of the Lake: Small community bank serving SMB and ag clients in the broader Plains region. Adjacent comparison point for sub-billion community bank economics, though smaller and not a direct competitor in Choice's core ND footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubevimeo.com/choicebank
• Facebookfacebook.com/choicefinancial
• LinkedInlinkedin.com/company/choicefinancial
• Instagraminstagram.com/choicebank
• Xx.com/choicefinancial

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Choice Financial