Freedom Bank in Oradell, New Jersey (NJ)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Freedom Bank in Oradell, New Jersey (NJ)
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Freedom Bank - Overview

  • General
  • FDIC Certificate #: 58712
    Status: Active
    Federal Reserve ID: 3729124
    Date Established: April 17, 2008
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 2 (Domestic: 2, Interstate: No)
    FDIC's unique #: 463480
    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: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: April 17, 2008
    Last Structure Change Effective Date: June 16, 2010
    Last Structure Change Process Date: October 04, 2010
    Last Data Update: October 04, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 550 Kinderkamack Road, Oradell, NJ 7649
    County: Bergen
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Jamesburg
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Bergen-Passaic, NJ (#875)
    Consolidated Metropolitan Statistical Area (CMSA): New York-Northern New Jersey-Long Island, NY-NJ-CT-PA (#70)
    Combined Statistical Area (CSA): New York-Newark-Bridgeport, NY-NJ-CT-PA (#408)
    Core Based Statistical Area (CBSA): New York-Northern New Jersey-Long Island, NY-NJ-PA (#35620)
    CBSA Metro Statistical Area: New York-Northern New Jersey-Long Island, NY-NJ-PA (#35620)
    Core Based Statistical Division: New York-White Plains-Wayne, NY-NJ (#35644)
  • Financial Summary
  • Total assets: $148.6 mil
    Equity capital: $19.5 mil
    Deposits held in domestic offices: $128.7 mil
    Return on assets (ROA): 0.56% ($0.8 mil)
    Quarterly return on assets: 0.90% ($1.3 mil)
    Return on Equity (ROE): 4.51% ($0.9 mil)
    Quarterly return on equity: 6.72% ($1.3 mil)
    Net income: $0.7 mil
    Quarterly Net income: $0.3 mil
    Pretax return on assets: 0.67% ($995.6 mil)
    Quarterly Pretax return on assets: 0.96% ($1,426.5 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
  • 24Total employees (full-time equivalent)
  • $148,596Total assets
  • $8,062Cash and due from depository institutions
  • $0Interest-bearing balances
  • $6,278Securities
  • $13,726Federal funds sold & reverse repurchase agreements
  • $118,485Net loans & leases
  • $1,494Loan loss allowance
  • $0Trading account assets
  • $739Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $148,595Life insurance assets
  • $1,306All other assets
  • $129,103Total liabilities and capital
  • $128,660Total liabilities
  • $118,640Total deposits
  • $128,660Interest-bearing deposits
  • $88Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $443Subordinated debt
  • $19,492All other liabilities
  • $19,492Total equity capital
  • $19,492Total bank equity capital
  • $4,000Perpetual preferred stock
  • $8,241Common stock
  • $8,241Surplus
  • $-990Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,494Income earned, not collected on loans
  • $0Earning assets
  • $590Long-term assets (5+ years)
  • $138,489Average Assets, year-to-date
  • $83,306Average Assets, quarterly
  • $128,656Volatile liabilities
  • $144,858Insider loans
  • $119,277FHLB advances
  • $147,999Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $19,353Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $24,143Restructured Loans and leases
  • $7,888Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $6,569Total interest income
  • $1,171Total interest expense
  • $5,398Net interest income
  • $700Provision for loan and lease losses
  • $84Total noninterest income
  • $0Fiduciary activities
  • $69Service charges on deposit accounts
  • $0Trading account gains & fees
  • $15Additional noninterest income
  • $3,921Total noninterest expense
  • $2,082Salaries and employee benefits
  • $502Premises and equipment expense
  • $1,337Additional noninterest expense
  • $861Pre-tax net operating income
  • $0Securities gains (losses)
  • $139Applicable income taxes
  • $722Income before extraordinary items
  • $0Extraordinary gains - net
  • $722Net income attributable to bank
  • $0Net charge-offs
  • $722Cash dividends
  • $582Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.39%Yield on earning assets
  • 0.96%Cost of funding earning assets
  • 4.43%Net interest margin
  • 0.07%Noninterest income to earning assets
  • 3.22%Noninterest expense to earning assets
  • 0.56%Net operating income to assets
  • 0.56%Return on assets (ROA)
  • 0.67%Pretax return on assets
  • 4.51%Return on equity (ROE)
  • 4.51%Retained earnings to average equity (YTD only)
  • 0.55%Net charge-offs to loans
  • 120.27%Credit loss provision to net charge-offs
  • 2.68%Efficiency ratio
  • 71,525Assets per employee
  • 6.19%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.25%Loss allowance to noncurrent loans
  • 59.90%Noncurrent assets plus other real estate owned to assets
  • 1.68%Noncurrent loans to loans
  • 2.08%Net loans and leases to deposits
  • 92.09%Net loans and leases to core deposits
  • 104.51%Equity capital to assets
  • 13.12%Core capital (leverage) ratio
  • 13.08%Tier 1 risk-based capital ratio
  • 16.23%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $128,656Average earning assets
  • $16,001Average equity
  • $121,945Average loans

List of branches

  • 2 New Jersey Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0463480Freedom Bank550 Kinderkamack Road, Oradell, NJ 7649April 17, 2008Full Service Brick and Mortar
    1526991Guttenberg Branch6812 Park Avenue, Guttenberg, NJ 7093November 21, 2011Full Service Brick and Mortar

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