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Choice Financial to buy Great Plains National Bank

GRAND FORKS, N.D. (AP) -- Choice Financial is acquiring a bank with five locations in southeastern and western North Dakota- a move that will increase its assets by almost $200 million.

Choice Financial has submitted an application to the Federal Reserve to purchase Great Plains National Bank. It's headquartered in Belfield and has other locations in Dickinson, LaMoure, South Heart and Ellendale.

Choice Financial has nine locations in North Dakota including in Grand Forks and Fargo and one in Minnesota.

Choice CEO Brian Johnson says officials hope to own Great Plains by the end of the year and convert the five locations to Choice banks in the second quarter of next year. The terms of the deal haven't been disclosed.