Freedom Bank in Huntingburg, Indiana (IN)

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Freedom Bank
GeneralFDIC Certificate #: 35221
Status: Active
Federal Reserve ID: 2858492
Bank Holding Company (Regulatory Top Holder): Freedom Bancorp (RSSDID: 3575787, Location: Huntingburg, IN)
Date Established: November 22, 1999
Trust Powers Granted: No
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 4 (Domestic: 4, Interstate: No)
FDIC's unique #: 76776
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: Yes
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: November 22, 1999
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: November 03, 2006
Last Data Update: November 03, 2006
Data Source Date: April 05, 2012
LocationAddress: 1405 North Main Street, Huntingburg, IN 47542
County: Dubois
Quarterly Banking Profile Region: Chicago
FDIC Geographic Region: Chicago
FDIC Supervisory Region: Chicago
FDIC Field Office: Indianapolis
Office of the Comptroller the Currency (OCC) District: Central
Office of Thrift Supervision Region: Central
Core Based Statistical Area (CBSA): Jasper, IN (#27540)
CBSA Micro Statistical Area: Yes
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $310.5 mil
Equity capital: $27.7 mil
Deposits held in domestic offices: $273.2 mil
Return on assets (ROA): 0.94% ($2.9 mil)
Quarterly return on assets: -0.06% (-$0.2 mil)
Return on Equity (ROE): 10.28% ($2.9 mil)
Quarterly return on equity: -0.62% (-$0.2 mil)
Net income: $2.7 mil
Quarterly Net income: -$0.0 mil
Pretax return on assets: 2.23% ($6,923.7 mil)
Quarterly Pretax return on assets: 2.47% ($7,668.8 mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)46
Total assets$310,478
Cash and due from depository institutions$22,466
Interest-bearing balances$16,135
Federal funds sold & reverse repurchase agreements$6,784
Net loans & leases$269,185
Loan loss allowance $5,194
Trading account assets$0
Bank premises and fixed assets$2,038
Other real estate owned$758
Goodwill and other intangibles$0
All other assets$3,496
Life insurance assets$310,478
Total liabilities and capital$282,780
Total liabilities$273,165
Total deposits$236,664
Interest-bearing deposits$273,165
Deposits held in domestic offices$77
% insured (estimated)0.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$8,720
Other borrowed funds $0
Subordinated debt $895
All other liabilities $27,698
Total equity capital$27,698
Total bank equity capital$27,698
Perpetual preferred stock$0
Common stock$916
Undivided profits $19,172
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $1,516
Income earned, not collected on loans $2,114
Earning assets $0
Long-term assets (5+ years) $1,215
Average Assets, year-to-date $297,855
Average Assets, quarterly $63,096
Volatile liabilities $291,092
Insider loans $306,248
FHLB advances $238,540
Loans and leases held for sale $307,395
Unused loan commitments $0
Tier 1 (core) risk-based capital $0
Tier 2 risk-based capital $27,662
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $36,063
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $14,139
Total interest expense $3,160
Net interest income $10,979
Provision for loan and lease losses $900
Total noninterest income $1,451
Fiduciary activities $0
Service charges on deposit accounts $489
Trading account gains & fees $0
Additional noninterest income $962
Total noninterest expense $5,029
Salaries and employee benefits $2,601
Premises and equipment expense $406
Additional noninterest expense $2,022
Pre-tax net operating income $6,501
Securities gains (losses) $0
Applicable income taxes $3,761
Income before extraordinary items $2,740
Extraordinary gains - net $0
Net income attributable to bank $2,740
Net charge-offs $0
Cash dividends $2,740
Sale, conversion, retirement of capital stock, net $193
Net operating income $200
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets5.07%
Cost of funding earning assets 1.13%
Net interest margin 3.94%
Noninterest income to earning assets 0.52%
Noninterest expense to earning assets 1.81%
Net operating income to assets 0.94%
Return on assets (ROA) 0.94%
Pretax return on assets 2.23%
Return on equity (ROE) 10.28%
Retained earnings to average equity (YTD only) 9.53%
Net charge-offs to loans 0.07%
Credit loss provision to net charge-offs 466.32%
Efficiency ratio38.35%
Assets per employee$40,459
Cash dividends to net income (YTD only)6.75%
Condition Ratios (%)
Loss allowance to loans 7.30%
Loss allowance to noncurrent loans 1.89%
Noncurrent assets plus other real estate owned to assets 245.70%
Noncurrent loans to loans 0.93%
Net loans and leases to deposits0.77%
Net loans and leases to core deposits 98.54%
Equity capital to assets 104.20%
Core capital (leverage) ratio 8.92%
Tier 1 risk-based capital ratio 9.00%
Total risk-based capital ratio 11.60%
Average assets$13
Average earning assets$291,092
Average equity $26,650
Average loans $278,613
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4 Indiana Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
076776Freedom Bank1405 North Main Street, Huntingburg, IN 47542November 22, 1999Full Service Brick and Mortar
1301166Dale Branch10 East Medcalf Street, Dale, IN 47523Febuary 22, 2000Full Service Brick and Mortar
3362766Jasper Branch75 South Us 231, Jasper, IN 47546November 21, 2001Full Service Brick and Mortar
4419354Rockport Branch2596 W Ridgeway Dr, Rockport, IN 47635July 01, 2002Full Service Brick and Mortar
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