Freedom Bank of Georgia in Commerce, Georgia (GA)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of March 06, 2009

  • Freedom Bank of Georgia in Commerce, Georgia (GA)
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Freedom Bank of Georgia - Overview

  • General
  • FDIC Certificate #: 57558
    Status: Inactive
    Closing history: Corrections
    Acquiring institution: Northeast Georgia Bank (#15771)
    Federal Reserve ID: 3158005
    Date Established: Febuary 17, 2004
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 4 (Interstate: No)
    FDIC's unique #: 365563
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    State Chartered: Yes
    Date of Deposit Insurance: Febuary 17, 2004
    Last Structure Change Effective Date: March 06, 2009
    Last Structure Change Process Date: March 09, 2009
    Last Data Update: March 09, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 3165 Maysville Road, Commerce, GA 30529
    County: Jackson
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Atlanta
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
  • History of Changes
  • Absorption - Assisted
    Corrections
  • Financial Summary
  • Total assets: $172.5 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, 2008)

  • Dollar figures in thousands
  • 39Total employees (full-time equivalent)
  • $172,454Total assets
  • $3,457Cash and due from depository institutions
  • $1,378Interest-bearing balances
  • $21,651Securities
  • $28,935Federal funds sold & reverse repurchase agreements
  • $101,613Net loans & leases
  • $4,599Loan loss allowance
  • $0Trading account assets
  • $5,467Bank premises and fixed assets
  • $9,156Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $2,175All other assets
  • $172,454Total liabilities and capital
  • $167,834Total liabilities
  • $159,048Total deposits
  • $153,001Interest-bearing deposits
  • $159,048Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $8,000Other borrowed funds
  • $0Subordinated debt
  • $786All other liabilities
  • $4,620Total equity capital
  • $4,620Total bank equity capital
  • $4,620Perpetual preferred stock
  • $0Common stock
  • $3,750Surplus
  • $9,584Undivided profits
  • Memoranda
  • $-8,714Noncurrent loans and leases
  • $6,131Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $12,373Earning assets
  • $0Long-term assets (5+ years)
  • $942Average Assets, year-to-date
  • $153,577Average Assets, quarterly
  • $18,756Volatile liabilities
  • $153,954Insider loans
  • $159,850FHLB advances
  • $76,460Loans and leases held for sale
  • $4,560Unused loan commitments
  • $8,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $6,131Total unused commitments
  • $0Restructured Loans and leases
  • $1,607Derivatives

Income and Expense (December 31, 2008)

  • Dollar figures in thousands
  • $8,042Total interest income
  • $5,627Total interest expense
  • $2,415Net interest income
  • $6,450Provision for loan and lease losses
  • $244Total noninterest income
  • $0Fiduciary activities
  • $303Service charges on deposit accounts
  • $0Trading account gains & fees
  • -$59Additional noninterest income
  • $4,736Total noninterest expense
  • $2,320Salaries and employee benefits
  • $651Premises and equipment expense
  • $1,765Additional noninterest expense
  • -$8,527Pre-tax net operating income
  • -$423Securities gains (losses)
  • $0Applicable income taxes
  • -$8,950Income before extraordinary items
  • $0Extraordinary gains - net
  • -$8,950Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $3,468Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2008)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.90%Yield on earning assets
  • 4.13%Cost of funding earning assets
  • 1.77%Net interest margin
  • 0.18%Noninterest income to earning assets
  • 3.48%Noninterest expense to earning assets
  • -5.54%Net operating income to assets
  • -5.81%Return on assets (ROA)
  • -5.81%Pretax return on assets
  • -92.43%Return on equity (ROE)
  • -92.43%Retained earnings to average equity (YTD only)
  • 3.05%Net charge-offs to loans
  • 185.99%Credit loss provision to net charge-offs
  • -0.60%Efficiency ratio
  • 178,112Assets per employee
  • 4.42%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 4.33%Loss allowance to noncurrent loans
  • 37.17%Noncurrent assets plus other real estate owned to assets
  • 12.48%Noncurrent loans to loans
  • 11.65%Net loans and leases to deposits
  • 63.89%Net loans and leases to core deposits
  • 116.01%Equity capital to assets
  • 2.68%Core capital (leverage) ratio
  • 2.73%Tier 1 risk-based capital ratio
  • 3.44%Total risk-based capital ratio
  • Memoranda
  • $5Average assets
  • $153,954Average earning assets
  • $9,683Average equity
  • $136,273Average loans

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