The Freedom Bank of Virginia in Vienna, Virginia (VA)
Overview, Financial Summary, Detailed Financial Reports, Branches

The Freedom Bank of Virginia - Overview

  • General
  • FDIC Certificate #: 57184
    Status: Active
    Federal Reserve ID: 3019982
    Date Established: July 23, 2001
    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 #: 359093
    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: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: July 23, 2001
    Last Structure Change Effective Date: April 17, 2008
    Last Structure Change Process Date: June 11, 2008
    Last Data Update: June 11, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 502 Maple Avenue West, Vienna, VA 22181
    County: Fairfax
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Richmond
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Washington, DC-MD-VA-WV (#8840)
    Consolidated Metropolitan Statistical Area (CMSA): Washington-Baltimore, DC-MD-VA-WV (#97)
    Combined Statistical Area (CSA): Washington-Baltimore-Northern Virginia, DC-MD-VA-WV (#548)
    Core Based Statistical Area (CBSA): Washington-Arlington-Alexandria, DC-VA-MD-WV (#47900)
    CBSA Metro Statistical Area: Washington-Arlington-Alexandria, DC-VA-MD-WV (#47900)
    Core Based Statistical Division: Washington-Arlington-Alexandria, DC-VA-MD-WV (#47894)
  • Financial Summary
  • Total assets: $207.5 mil
    Equity capital: $23.7 mil
    Deposits held in domestic offices: $183.1 mil
    Return on assets (ROA): 1.02% ($2.1 mil)
    Quarterly return on assets: 0.94% ($1.9 mil)
    Return on Equity (ROE): 8.43% ($2.0 mil)
    Quarterly return on equity: 8.23% ($2.0 mil)
    Net income: $1.9 mil
    Quarterly Net income: $0.5 mil
    Pretax return on assets: 1.02% ($2,116.3 mil)
    Quarterly Pretax return on assets: 0.94% ($1,950.4 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
  • 31Total employees (full-time equivalent)
  • $207,485Total assets
  • $17,136Cash and due from depository institutions
  • $8,253Interest-bearing balances
  • $15,850Securities
  • $15,753Federal funds sold & reverse repurchase agreements
  • $155,378Net loans & leases
  • $2,037Loan loss allowance
  • $0Trading account assets
  • $206Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $207,485Life insurance assets
  • $3,162All other assets
  • $183,788Total liabilities and capital
  • $183,148Total liabilities
  • $157,754Total deposits
  • $183,148Interest-bearing deposits
  • $81Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $0Other borrowed funds
  • $640Subordinated debt
  • $23,697All other liabilities
  • $23,697Total equity capital
  • $23,697Total bank equity capital
  • $0Perpetual preferred stock
  • $11,818Common stock
  • $16,185Surplus
  • $-4,306Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $3,008Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $4,115Income earned, not collected on loans
  • $0Earning assets
  • $520Long-term assets (5+ years)
  • $195,234Average Assets, year-to-date
  • $28,424Average Assets, quarterly
  • $187,109Volatile liabilities
  • $204,191Insider loans
  • $163,229FHLB advances
  • $198,503Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $23,562Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $53,814Restructured Loans and leases
  • $5,401Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $9,624Total interest income
  • $1,862Total interest expense
  • $7,762Net interest income
  • $348Provision for loan and lease losses
  • $420Total noninterest income
  • $0Fiduciary activities
  • $59Service charges on deposit accounts
  • $0Trading account gains & fees
  • $361Additional noninterest income
  • $6,007Total noninterest expense
  • $3,406Salaries and employee benefits
  • $629Premises and equipment expense
  • $1,972Additional noninterest expense
  • $1,827Pre-tax net operating income
  • $73Securities gains (losses)
  • $0Applicable income taxes
  • $1,900Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,900Net income attributable to bank
  • $0Net charge-offs
  • $1,900Cash dividends
  • $46Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.36%Yield on earning assets
  • 1.04%Cost of funding earning assets
  • 4.33%Net interest margin
  • 0.23%Noninterest income to earning assets
  • 3.35%Noninterest expense to earning assets
  • 0.98%Net operating income to assets
  • 1.02%Return on assets (ROA)
  • 1.02%Pretax return on assets
  • 8.43%Return on equity (ROE)
  • 8.43%Retained earnings to average equity (YTD only)
  • 0.03%Net charge-offs to loans
  • 756.52%Credit loss provision to net charge-offs
  • 47.28%Efficiency ratio
  • 73,417Assets per employee
  • 6.69%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.29%Loss allowance to noncurrent loans
  • 49.50%Noncurrent assets plus other real estate owned to assets
  • 1.98%Noncurrent loans to loans
  • 2.61%Net loans and leases to deposits
  • 84.84%Net loans and leases to core deposits
  • 98.99%Equity capital to assets
  • 11.42%Core capital (leverage) ratio
  • 11.87%Tier 1 risk-based capital ratio
  • 14.43%Total risk-based capital ratio
  • Memoranda
  • $16Average assets
  • $187,109Average earning assets
  • $22,551Average equity
  • $179,465Average loans

List of branches

  • 2 Virginia Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0359093The Freedom Bank Of Virginia502 Maple Avenue West, Vienna, VA 22181July 23, 2001Full Service Brick and Mortar
    1453344Fairfax Branch10555 Main Street, Fairfax, VA 22030April 15, 2006Full Service Brick and Mortar

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