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Overview / Commentary
99 West Essex Street
Maywood, NJ 07607

Freedom Bank (NJ) is headquartered in Maywood and is the 77th largest bank in the state of New Jersey. It is also the 2,867th largest bank in the nation. It was established in 2008 and as of March of 2014, it had grown to 29 employees at 2 locations. Freedom Bank (NJ)'s money market rates are 70% higher than the national average, and it boasts a A+ health rating.

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Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Freedom Bank (NJ) had $94,000 in non-current loans and owned real-estate with $23.75 million in equity and loan loss allowances on hand to cover it. This gives Freedom Bank (NJ) a Texas Ratio of 0.40% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Freedom Bank (NJ) decreased dramatically from 3.26% as of March 31, 2013 to 0.40% as of March 31, 2014, resulting in a positive change of 87.86%.This indicates that the balance sheet and financial strength for Freedom Bank (NJ) has improved dramatically in recent periods.

Deposit Growth


In the past year, Freedom Bank (NJ) has increased its total deposits by $36.89 million, resulting in 25.22% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Freedom Bank (NJ) has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Freedom Bank (NJ) has $217.08 million in assets with $23.75 million in equity, resulting in a capitalization level of 10.94%, which is above average.

Institution Statistics

FDIC Certificate #58712
Year Established2008
Primary RegulatorFDIC
Assets and Liabilities
Assets$217.08 million
Loans$197.64 million
Deposits$183.18 million
Equity Capital$21.86 million
Loan Loss Allowance$1.89 million
Unbacked Noncurrent Loans$94,000
Real Estate Owned$0
Historic Data - March 2013
Assets$167.71 million
Equity Capital$20.79 million
Loan Loss Allowance$1.54 million
Unbacked Noncurrent Loans$94,000
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets0.57%
Return on Equity5.47%
Interest Income$2.64 million

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Freedom Bank (NJ) Savings Account Rates

0.15%--Statement Savings
0.15%--Minor Savings
0.15%--Business Savings

Freedom Bank (NJ) Money Market Rates

0.75%--Choice Money Market Account
0.75%--Choice Business MMA
0.25%$2,500-MMA Relationship
0.25%$1k-Small Business MM
0.20%$2,500-Money Market Account

Freedom Bank (NJ) Checking Account Rates

1.00%$25k-High Interest Checking - Qualifying
0.50%$75k-Business Interest Checking
0.25%--Now Account
0.25%--Senior Checking
0.25%--Business Now
0.25%--High Interest Checking - Non Qualifying

Freedom Bank (NJ) CD Rates

1.75%$500$100k60 Month Bump-Up CD
1.65%$500-48-59 Month CD
1.50%$500-60 Month CD
1.50%$500$100k36-47 Month Bump-Up CD
1.35%$500-24-35 Month CD
1.25%$500-36-47 Month CD
1.00%$500-12-17 Month CD
1.00%$500-18-23 Month CD
0.40%$500-6-11 Month CD
0.30%$500-3-5 Month CD

Freedom Bank (NJ) IRA Rates

1.65%$500-48-59 Month IRA
1.50%$500-60 Month IRA
1.35%$500-24-35 Month IRA
1.25%$500-36-47 Month IRA
1.00%$500-12-17 Month IRA
1.00%$500-18-23 Month IRA
0.40%$500-6-11 Month IRA
0.30%$500-3-5 Month IRA

Freedom Bank (NJ) Locations
Freedom Bank550 Kinderkamack RoadOradell, NJ 7649
Guttenberg Branch6812 Park AvenueGuttenberg, NJ 7093