Park River, N.D.-based First United Bank applied with the Federal Deposit Insurance Corp. and North Dakota Department of Financial Institutions to acquire Fargo, N.D.-based Choice Financial Group's branch at 202 S. 5th St., in Petersburg, N.D.

First United Bank and Choice Financial expect to close the transaction Aug. 31.

As of March 31, First United Bank had $239.6 million in assets, while Choice Financial had assets of $1.28 billion.

First Holding Co. of Park River Inc. is the holding company of First United Bank, and Choice Financial Holdings Inc. is the holding company of Choice Financial.