FreedomBank in Elkader, Iowa (IA)
Overview, Financial Summary, Detailed Financial Reports, Branches


FreedomBank - Overview

  • General
  • FDIC Certificate #: 11767
    Status: Active
    Federal Reserve ID: 652043
    Bank Holding Company (Regulatory Top Holder): Leroy C. Darby, Inc. Esop (RSSDID: 2208033, Location: Elkader, IA)
    Date Established: January 01, 1903
    WWW: http://www.myfreedomaccount.com
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 3 (Domestic: 3, Interstate: No)
    OTS Docket #: 9867
    FDIC's unique #: 7525
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Agricultural lending institution: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: Yes
    Asset Concentration Hierarchy: Agricultural Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: April 03, 2006
    Last Structure Change Process Date: December 22, 2006
    Last Data Update: December 22, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 210 South Main, Elkader, IA 52043
    County: Clayton
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Cedar Rapids
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: Western
  • History of Changes
  • Name Change
  • Financial Summary
  • Total assets: $225.5 mil
    Equity capital: $27.2 mil
    Deposits held in domestic offices: $189.9 mil
    Return on assets (ROA): 1.80% ($4.0 mil)
    Quarterly return on assets: 1.59% ($3.6 mil)
    Return on Equity (ROE): 15.01% ($4.1 mil)
    Quarterly return on equity: 13.08% ($3.5 mil)
    Net income: $4.0 mil
    Quarterly Net income: $0.9 mil
    Pretax return on assets: 1.84% ($4,148.5 mil)
    Quarterly Pretax return on assets: 1.63% ($3,675.0 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ 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
  • 42Total employees (full-time equivalent)
  • $225,462Total assets
  • $6,192Cash and due from depository institutions
  • $53Interest-bearing balances
  • $37,014Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $164,439Net loans & leases
  • $2,509Loan loss allowance
  • $0Trading account assets
  • $4,889Bank premises and fixed assets
  • $3,856Other real estate owned
  • $3,939Goodwill and other intangibles
  • $225,462Life insurance assets
  • $5,133All other assets
  • $198,223Total liabilities and capital
  • $189,910Total liabilities
  • $159,005Total deposits
  • $189,910Interest-bearing deposits
  • $89Deposits held in domestic offices
  • 1175.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $6,000Trading liabilities
  • $0Other borrowed funds
  • $1,138Subordinated debt
  • $27,239All other liabilities
  • $27,239Total equity capital
  • $27,239Total bank equity capital
  • $0Perpetual preferred stock
  • $78Common stock
  • $9,474Surplus
  • $17,687Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,521Income earned, not collected on loans
  • $0Earning assets
  • $1,466Long-term assets (5+ years)
  • $201,506Average Assets, year-to-date
  • $42,841Average Assets, quarterly
  • $223,795Volatile liabilities
  • $224,239Insider loans
  • $164,524FHLB advances
  • $219,616Loans and leases held for sale
  • $2,039Unused loan commitments
  • $2,039Tier 1 (core) risk-based capital
  • $21,973Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $15,304Restructured Loans and leases
  • $232Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $11,160Total interest income
  • $2,317Total interest expense
  • $8,843Net interest income
  • $160Provision for loan and lease losses
  • $1,096Total noninterest income
  • $0Fiduciary activities
  • $428Service charges on deposit accounts
  • $0Trading account gains & fees
  • $668Additional noninterest income
  • $5,747Total noninterest expense
  • $2,983Salaries and employee benefits
  • $583Premises and equipment expense
  • $2,181Additional noninterest expense
  • $4,032Pre-tax net operating income
  • $95Securities gains (losses)
  • $106Applicable income taxes
  • $4,021Income before extraordinary items
  • $0Extraordinary gains - net
  • $4,021Net income attributable to bank
  • $0Net charge-offs
  • $4,021Cash dividends
  • $129Sale, conversion, retirement of capital stock, net
  • $3,028Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.57%Yield on earning assets
  • 1.16%Cost of funding earning assets
  • 4.41%Net interest margin
  • 0.55%Noninterest income to earning assets
  • 2.87%Noninterest expense to earning assets
  • 1.76%Net operating income to assets
  • 1.80%Return on assets (ROA)
  • 1.84%Pretax return on assets
  • 15.01%Return on equity (ROE)
  • 3.71%Retained earnings to average equity (YTD only)
  • 0.08%Net charge-offs to loans
  • 124.03%Credit loss provision to net charge-offs
  • 32.50%Efficiency ratio
  • 57,481Assets per employee
  • 5.37%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 75.30%Loss allowance to loans
  • 1.50%Loss allowance to noncurrent loans
  • 164.96%Noncurrent assets plus other real estate owned to assets
  • 2.38%Noncurrent loans to loans
  • 0.91%Net loans and leases to deposits
  • 86.59%Net loans and leases to core deposits
  • 88.66%Equity capital to assets
  • 12.08%Core capital (leverage) ratio
  • 10.01%Tier 1 risk-based capital ratio
  • 13.36%Total risk-based capital ratio
  • Memoranda
  • $15Average assets
  • $223,795Average earning assets
  • $26,781Average equity
  • $200,476Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $1,729Managed Assets
  • 1Number of Accounts
  • $931Personal trust and agency accounts
  • $931Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 129Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $798Other retirement accounts
  • $798Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 3 Iowa Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    07525Freedombank210 South Main, Elkader, IA 52043January 01, 1903Full Service Brick and Mortar
    23960Monona Office Branch106 South Main Street, Monona, IA 52159May 01, 1933Full Service Brick and Mortar
    3168Postville Office Branch135 West Tilden, Postville, IA 52162October 25, 1872Full Service Brick and Mortar

Comment about this bank, ask questions, or add new information about it:

CAPTCHA

This web site is not associated with, endorsed by, or sponsored by and has no official or unofficial affiliation with FreedomBank.
Based on public records. Inadvertent errors are possible.
bankencyclopedia.com does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Table of Contents