Freedom Financial Bank in West Des Moines, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Freedom Financial Bank in West Des Moines, Iowa (IA)
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Freedom Financial Bank - Overview

  • General
  • FDIC Certificate #: 35031
    Status: Active
    Federal Reserve ID: 2735137
    Bank Holding Company (Regulatory Top Holder): Freedom Holdings Company (RSSDID: 2734439, Location: West Des Moines, IA)
    Date Established: Febuary 22, 1999
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB)
    Offices: 2 (Domestic: 2, Interstate: No)
    FDIC's unique #: 73855
    Numeric code: 13
    Regulator: FED
    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: Febuary 22, 1999
    Last Structure Change Effective Date: March 11, 2011
    Last Structure Change Process Date: March 30, 2011
    Last Data Update: March 30, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 1255 Jordan Creek Parkway, West Des Moines, IA 50266
    County: Dallas
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Des Moines
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
    Metropolitan Statistical Area (MSA): Des Moines, IA (#2120)
    Combined Statistical Area (CSA): Des Moines-Newton-Pella, IA (#218)
    Core Based Statistical Area (CBSA): Des Moines-West Des Moines, IA (#19780)
    CBSA Metro Statistical Area: Des Moines-West Des Moines, IA (#19780)
  • History of Changes
  • Change in Primary Regulatory Agency
    Change in Supervisory Agency
    Institution Becomes a Member of FRS (Federal Reserve System)
  • Financial Summary
  • Total assets: $154.8 mil
    Equity capital: $16.5 mil
    Deposits held in domestic offices: $123.8 mil
    Return on assets (ROA): 1.05% ($1.6 mil)
    Quarterly return on assets: 1.01% ($1.6 mil)
    Return on Equity (ROE): 9.83% ($1.7 mil)
    Quarterly return on equity: 9.26% ($1.6 mil)
    Net income: $1.6 mil
    Quarterly Net income: $0.4 mil
    Pretax return on assets: 1.10% ($1,702.8 mil)
    Quarterly Pretax return on assets: 1.07% ($1,656.3 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
  • 18Total employees (full-time equivalent)
  • $154,796Total assets
  • $2,869Cash and due from depository institutions
  • $0Interest-bearing balances
  • $3,021Securities
  • $8,140Federal funds sold & reverse repurchase agreements
  • $129,781Net loans & leases
  • $1,283Loan loss allowance
  • $0Trading account assets
  • $5,942Bank premises and fixed assets
  • $1,971Other real estate owned
  • $0Goodwill and other intangibles
  • $154,796Life insurance assets
  • $3,072All other assets
  • $138,277Total liabilities and capital
  • $123,763Total liabilities
  • $111,323Total deposits
  • $123,763Interest-bearing deposits
  • $84Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $14,201Trading liabilities
  • $0Other borrowed funds
  • $313Subordinated debt
  • $16,519All other liabilities
  • $16,519Total equity capital
  • $16,519Total bank equity capital
  • $0Perpetual preferred stock
  • $6,600Common stock
  • $6,600Surplus
  • $3,319Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $0Earning assets
  • $615Long-term assets (5+ years)
  • $140,942Average Assets, year-to-date
  • $10,873Average Assets, quarterly
  • $155,913Volatile liabilities
  • $153,221Insider loans
  • $145,142FHLB advances
  • $148,636Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $16,519Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $7,401Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $7,496Total interest income
  • $3,111Total interest expense
  • $4,385Net interest income
  • $80Provision for loan and lease losses
  • $144Total noninterest income
  • $0Fiduciary activities
  • $108Service charges on deposit accounts
  • $0Trading account gains & fees
  • $36Additional noninterest income
  • $2,812Total noninterest expense
  • $1,550Salaries and employee benefits
  • $445Premises and equipment expense
  • $817Additional noninterest expense
  • $1,637Pre-tax net operating income
  • $80Securities gains (losses)
  • $86Applicable income taxes
  • $1,631Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,631Net income attributable to bank
  • $0Net charge-offs
  • $1,631Cash dividends
  • $191Sale, conversion, retirement of capital stock, net
  • $1,679Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.26%Yield on earning assets
  • 2.18%Cost of funding earning assets
  • 3.08%Net interest margin
  • 0.10%Noninterest income to earning assets
  • 1.97%Noninterest expense to earning assets
  • 1.00%Net operating income to assets
  • 1.05%Return on assets (ROA)
  • 1.10%Pretax return on assets
  • 9.83%Return on equity (ROE)
  • -0.29%Retained earnings to average equity (YTD only)
  • 0.14%Net charge-offs to loans
  • 41.88%Credit loss provision to net charge-offs
  • 8.99%Efficiency ratio
  • 62,089Assets per employee
  • 8.60%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 102.94%Loss allowance to loans
  • 0.98%Loss allowance to noncurrent loans
  • 0.00%Noncurrent assets plus other real estate owned to assets
  • 1.27%Noncurrent loans to loans
  • 0.00%Net loans and leases to deposits
  • 104.86%Net loans and leases to core deposits
  • 138.96%Equity capital to assets
  • 10.67%Core capital (leverage) ratio
  • 11.11%Tier 1 risk-based capital ratio
  • 11.38%Total risk-based capital ratio
  • Memoranda
  • $12Average assets
  • $155,913Average earning assets
  • $16,599Average equity
  • $142,544Average loans

List of branches

  • 2 Iowa Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    073855Freedom Financial Bank1255 Jordan Creek Parkway, West Des Moines, IA 50266Febuary 22, 1999Full Service Brick and Mortar
    1487523Des Moines Branch600 Martin Luther King Jr. Parkway, Des Moines, IA 50312July 03, 2008Full Service Brick and Mortar

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