Choice Bank Appoints Tom Jasper as EVP and Chief Operating Officer to Drive Growth

Choice Bank has appointed Tom Jasper as Executive Vice President Chief Operating Officer to scale its traditional banking operations and fintech partnership strategy. For fintech professionals, this move signals a regional bank's intent to leverage established executive leadership to convert its digital partnership successes into a sustainable, long-term funding advantage for its lending business.

What was announced

Tom Jasper joins Choice Bank in the newly created role of Executive Vice President Chief Operating Officer. Jasper is tasked with the direct oversight of the bank’s traditional financial services, including insurance, wealth management, and mortgage banking. His remit also extends to executive responsibilities for the bank’s internal functions, specifically finance, accounting, marketing, and communications.

The appointment comes as the institution seeks to accelerate its growth initiatives. Jasper brings over three decades of experience in the banking sector, including an 18-year tenure at TCF Financial Corporation (TCF), where he served as Vice Chairman and Chief Operating Officer until the company's merger with Chemical Bank in 2019. More recently, he has operated as a strategic advisor to various national financial services organizations.

Choice Bank’s strategy involves utilizing its expanding fintech business partnerships to drive core deposit growth. This funding is intended to support the expansion of its regional lending portfolio and the diversification of its product offerings. The bank currently manages approximately $4.95 billion in assets and operates 22 locations across Minnesota and North Dakota, while maintaining a national customer base through its digital and partnership channels.

"Our strategic objective is simple - to create a long-term funding advantage that enhances our regional lending business. It is imperative during this unique time in the banking industry that we capitalize on our core funding capabilities, and Tom is here to help us do just that."

Brian L. Johnson, Chief Executive Officer at Choice Bank

The companies involved

Choice Bank is a financial institution headquartered in Fargo, North Dakota, that has operated since its founding in 2001. The bank has positioned itself as a bridge between traditional community banking and the modern fintech ecosystem, emphasizing a "People First" approach to its service delivery. While it maintains a physical presence with 22 branches throughout Minnesota and North Dakota, its operational model has increasingly leaned into innovative financial solutions to reach a broader United States audience.

The bank’s focus on fintech partnerships over the last eight years has been a deliberate effort to secure core deposits, which serve as the foundation for its commercial and consumer lending activities. Unlike many mid-sized regional players that view fintech as a threat, Choice has integrated these partnerships into its primary growth strategy. This hybrid model allows the bank to maintain the stability of a regulated depository institution while benefiting from the scale and technological agility of its digital partners.

What FF News has reported before

FF News has tracked the evolving landscape of community bank integration and the infrastructure that supports institutions like Choice. In February 2023, we reported that Sandbox Banking Secures $4.3M in Seed Funding to Streamline Integration for Banks and Credit Unions, highlighting the growing demand for middleware that connects legacy banking cores with modern fintech applications.

Additionally, the broader expansion of the Choice brand was noted when Choice Financial Group Enters Pennsylvania in May 2022. Our coverage also includes the technological enablement of these institutions, such as when ModusBox Secures $7.5 Million in Series A Funding to Accelerate Innovation for Community Financial Institutions in April 2022, a move aimed at helping community banks compete through open-source payment rails.

What this means

The hiring of a high-profile COO from a major regional player like TCF suggests that mid-tier banks are no longer content with being passive "BaaS" (Banking-as-a-Service) providers. There is a clear industry shift toward professionalizing the management of fintech-driven deposits to ensure they are stable enough to fund long-term lending. As liquidity remains a primary concern for the sector, the pressure is on regional banks to prove that their digital partnerships can deliver low-cost funding rather than volatile deposits. This move raises the stakes for other community banks that have yet to formalize their executive oversight of digital-first deposit strategies.