Freedom Bank in Bradenton, Florida (FL)
Overview, Financial Summary, Detailed Financial Reports, Branches

This bank is inactive as of October 31, 2008

  • Freedom Bank in Bradenton, Florida (FL)
  • Show street view No street view available for this location

Freedom Bank - Overview

  • General
  • FDIC Certificate #: 57930
    Status: Inactive
    Closing history: Absorption - Assisted
    Acquiring institution: Fifth Third Bank (#993)
    Federal Reserve ID: 3352577
    Date Established: May 17, 2005
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 6 (Interstate: No)
    FDIC's unique #: 431750
    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: May 17, 2005
    Last Structure Change Effective Date: October 31, 2008
    Last Structure Change Process Date: November 05, 2008
    Last Data Update: November 05, 2008
    Data Source Date: April 05, 2012
  • Location
  • Address: 410 Cortez Road West, Bradenton, FL 34207
    County: Manatee
    Quarterly Banking Profile Region: Atlanta
    FDIC Geographic Region: Atlanta
    FDIC Supervisory Region: Atlanta
    FDIC Field Office: Tampa
    Office of the Comptroller the Currency (OCC) District: Southwest
    Office of Thrift Supervision Region: Southeast
    Metropolitan Statistical Area (MSA): Sarasota-Bradenton, FL (#7510)
    Combined Statistical Area (CSA): Sarasota-Bradenton-Punta Gorda, FL (#494)
    Core Based Statistical Area (CBSA): North Port-Bradenton-Sarasota, FL (#35840)
    CBSA Metro Statistical Area: North Port-Bradenton-Sarasota, FL (#35840)
  • Financial Summary
  • Total assets: $270.8 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, 2007)

  • Dollar figures in thousands
  • 72Total employees (full-time equivalent)
  • $291,586Total assets
  • $4,934Cash and due from depository institutions
  • $1,439Interest-bearing balances
  • $13,067Securities
  • $17,919Federal funds sold & reverse repurchase agreements
  • $230,277Net loans & leases
  • $8,796Loan loss allowance
  • $0Trading account assets
  • $14,125Bank premises and fixed assets
  • $4,066Other real estate owned
  • $0Goodwill and other intangibles
  • $0Life insurance assets
  • $7,198All other assets
  • $291,586Total liabilities and capital
  • $266,151Total liabilities
  • $257,132Total deposits
  • $244,532Interest-bearing deposits
  • $257,132Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $3,524Federal funds purchased & repurchase agreements
  • $0Trading liabilities
  • $4,763Other borrowed funds
  • $0Subordinated debt
  • $732All other liabilities
  • $25,435Total equity capital
  • $25,435Total bank equity capital
  • $25,435Perpetual preferred stock
  • $0Common stock
  • $15,098Surplus
  • $18,162Undivided profits
  • Memoranda
  • $-7,825Noncurrent loans and leases
  • $34,965Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $0Income earned, not collected on loans
  • $4,179Earning assets
  • $0Long-term assets (5+ years)
  • $1,557Average Assets, year-to-date
  • $262,702Average Assets, quarterly
  • $13,090Volatile liabilities
  • $268,077Insider loans
  • $291,247FHLB advances
  • $65,179Loans and leases held for sale
  • $646Unused loan commitments
  • $2,000Tier 1 (core) risk-based capital
  • $0Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $34,965Total unused commitments
  • $0Restructured Loans and leases
  • $3,311Derivatives

Income and Expense (December 31, 2007)

  • Dollar figures in thousands
  • $19,067Total interest income
  • $11,683Total interest expense
  • $7,384Net interest income
  • $7,719Provision for loan and lease losses
  • $411Total noninterest income
  • $0Fiduciary activities
  • $173Service charges on deposit accounts
  • $0Trading account gains & fees
  • $238Additional noninterest income
  • $9,292Total noninterest expense
  • $4,962Salaries and employee benefits
  • $1,659Premises and equipment expense
  • $2,671Additional noninterest expense
  • -$9,216Pre-tax net operating income
  • $0Securities gains (losses)
  • -$3,340Applicable income taxes
  • -$5,876Income before extraordinary items
  • $0Extraordinary gains - net
  • -$5,876Net income attributable to bank
  • $0Net charge-offs
  • $0Cash dividends
  • $937Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2007)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 7.76%Yield on earning assets
  • 4.76%Cost of funding earning assets
  • 3.01%Net interest margin
  • 0.17%Noninterest income to earning assets
  • 3.78%Noninterest expense to earning assets
  • -2.19%Net operating income to assets
  • -2.19%Return on assets (ROA)
  • -3.44%Pretax return on assets
  • -20.13%Return on equity (ROE)
  • -20.13%Retained earnings to average equity (YTD only)
  • 0.43%Net charge-offs to loans
  • 823.80%Credit loss provision to net charge-offs
  • -1.60%Efficiency ratio
  • 119,205Assets per employee
  • 4.05%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 3.68%Loss allowance to noncurrent loans
  • 210.48%Noncurrent assets plus other real estate owned to assets
  • 2.83%Noncurrent loans to loans
  • 1.75%Net loans and leases to deposits
  • 89.56%Net loans and leases to core deposits
  • 115.00%Equity capital to assets
  • 8.72%Core capital (leverage) ratio
  • 7.48%Tier 1 risk-based capital ratio
  • 8.33%Total risk-based capital ratio
  • Memoranda
  • $10Average assets
  • $268,077Average earning assets
  • $29,197Average equity
  • $245,684Average loans

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