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- Banks in Georgia (GA)
- Freedom Bank of Georgia
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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- Banks in Georgia (GA)
- Freedom Bank of Georgia
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