Gaining in Fargo and Bismarck
Its share in Fargo rose from 1.3% to 3.3%; Bell Bank and Gate City Bank lead that market. In Bismarck it ranks 13 of 145, and its share rose 0.5 points to 1.7%. It has lent in the two cities since 2003 and 2004.
Applications / Mortgage Analytics / Lenders / North Dakota / Choice Financial Group
Choice Financial Group
Fargo, ND · State non-member bank · FDIC · $6.0 billion assets · 275 loans in 2025
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275
loans originated, 2025
346
applications, 2025
16
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Choice Financial Group, a North Dakota bank, grew 20% in 2025 and more than doubled its share of the Fargo market, where it now ranks 8 of 207 lenders.
Faster than its peers
It made 275 loans, up from 230, while similar lenders (state non-member banks making between half and twice as many loans) grew 8%. The dollars it lent rose from $95.9 million to $147.1 million, more than at nearly nine in ten of them. Its count is still far below the 876 of 2020.
Bigger purchase loans
Home purchases made up 82.2% of its loans, nearly all conventional. Its typical loan was $275,000, against $175,000 at similar lenders. Jumbo loans (larger than the conforming limit) fell to 3.1% from 11.1% in 2024. Its typical rate, 6.62%, was a little below the group's 6.75%.
Few loans in majority-minority areas
Majority-minority neighborhoods took 0.4% of its loans, against 6.6% at similar lenders, and poorer neighborhoods (low- and moderate-income, or LMI, tracts) 10.6%, against 17.2%. The make-up of the North Dakota and Minnesota markets where it lends is one possible reason. LMI borrowers took 26.3%, close to the group's 27.9%.
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
275 loans in 2025, against a peak of 876 in 2020.
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Choice Financial Group took 346 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
82.2% of its 2025 loans were purchase loans; 99.3% were conventional loans.
Purchase 82.2% · Refinance 12.7% · Other 4.4% · Home improvement 0.7%
Conventional 99.3% · USDA (RHS or FSA) 0.7% · of 275 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
16 states, 19 metros, 59 counties
| State | Loans | Share |
|---|---|---|
| North Dakota | 168 | 61.1% |
| Minnesota | 85 | 30.9% |
| Arizona | 5 | 1.8% |
| California | 3 | 1.1% |
| Wisconsin | 3 | 1.1% |
| Alabama | 1 | 0.4% |
| Colorado | 1 | 0.4% |
| Florida | 1 | 0.4% |
| Georgia | 1 | 0.4% |
| Montana | 1 | 0.4% |
Largest metro areas, 2025
Loans originated
| Metro area | Loans |
|---|---|
| Fargo | 86 |
| Bismarck | 36 |
| Minneapolis-St. Paul-Bloomington | 30 |
| Grand Forks | 15 |
| Phoenix-Mesa-Chandler | 3 |
| Charlotte-Concord-Gastonia | 2 |
| Minot | 2 |
| Riverside-San Bernardino-Ontario | 2 |
| Tucson | 2 |
| Augusta-Richmond County | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300BB4LSE4JRRGV15 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 826956 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 39423 | 2002–2017 |
Established 1 January 1906. Reported under HMDA 2002-2025.
Mergers, name changes, data editions and corrections: Choice Financial Group's data.
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