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Overview
Choice Bank is a community bank that offers a wide range of banking services for individuals and businesses. Customers open accounts, use debit cards, and access funds through branches, ATMs, and online/mobile banking, while loans and mortgages are underwritten with repayment terms. Its PeopleFirst approach combines local decision-making and personalized service with the backing of CFG and FDIC/Equal Housing Lender status. Its goal is to help local people and businesses grow by providing trustworthy, easy-to-use banking and strong community support.
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Simplify's take
What believers are saying
- Choice’s assets grew to $6.38 billion by June 2026, signaling scale momentum.
- Mortgage Rate Relief with FHLB Des Moines expands originations among 80% AMI borrowers.
- A new Bismarck branch and 2026 community grants reinforce local deposit gathering and goodwill.
What critics are saying
- The FDIC consent order from December 2023 still hangs over Choice’s BSA and fintech oversight.
- BaaS relationships with Mercury, Current, and Lili keep third-party compliance failures one bad exam away.
- If regulators escalate from consent order to restrictions, Choice’s sponsor-bank model becomes existentially impaired.
What makes Choice Bank unique
- Choice Bank pairs community banking with a sizable $6.38 billion commercial-lending franchise.
- Choice’s BaaS platform and fintech partnerships differentiate it from plain-vanilla regional banks.
- Sale of Choice Insurance to Vizance sharpened focus on banking, mortgage, and payments.
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