Choice Financial Group, the tenth largest bank headquartered in North Dakota, has made an offer to purchase the 27th largest bank based in the state, Great Plains National Bank.  Choice Financial will be buying all of the assets, approximately $180 million, and the five bank branch locations of Great Plains National Bank.  The purchase will expand Choice Financial’s asset base from approximately $660 million to almost $850 million and increase the number of bank branches operated by Choice from ten to 15.

Choice Financial is based in Grafton and currently operates nine locations in North Dakota that cover the center of the state from Goodrich on up to the northeast in Walhalla and down through to southeast in South Fargo.  The bank also operates one branch in Comfrey, Minnesota.  The five branches of Great Plains National Bank are predominantly located in the southwest region of North Dakota with two of the branches located in the southeast region.  Great Plains National Bank is based in Belfield, North Dakota with additional branches in Dickinson, LaMoure, South Heart and Ellendale.

Choice intends to convert the five locations of Great Plains to Choice banks in the second quarter of next year.  The terms of the deal have not been disclosed.

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