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Overview / Commentary
550 Kinderkamack Road
Oradell, NJ 07649

Freedom Bank (NJ) is headquartered in Oradell and is the 80th largest bank in the state of New Jersey. It is also the 3,016st largest bank in the nation. It was established in 2008 and as of December of 2013, 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 Q4 2013

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Freedom Bank (NJ) had $105,000 in non-current loans and owned real-estate with $23.31 million in equity and loan loss allowances on hand to cover it. This gives Freedom Bank (NJ) a Texas Ratio of 0.45% 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 6.24% as of December 31, 2012 to 0.45% as of December 31, 2013, resulting in a positive change of 92.78%.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 $26.83 million, resulting in 18.84% 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 $203.21 million in assets with $23.31 million in equity, resulting in a capitalization level of 11.47%, which is excellent.

Institution Statistics

FDIC Certificate #58712
Year Established2008
Primary RegulatorFDIC
Assets and Liabilities
Assets$203.21 million
Loans$181.12 million
Deposits$169.27 million
Equity Capital$21.57 million
Loan Loss Allowance$1.74 million
Unbacked Noncurrent Loans$105,000
Real Estate Owned$0
Historic Data - December 2012
Assets$163.63 million
Equity Capital$20.56 million
Loan Loss Allowance$1.42 million
Unbacked Noncurrent Loans$105,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin4.39%
Return on Assets0.59%
Return on Equity5.18%
Interest Income$9.29 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%$10k-Choice Money Market Account
0.75%$10k-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
0.50%$75k-Business Interest Checking
0.25%--Now Account
0.25%--Senior Checking
0.25%--Business Now
0.25%--High Interest Checking

Freedom Bank (NJ) CD Rates

1.75%$500$100k60 Month Bump-Up CD
1.50%$500-60 Month CD
1.50%$500$100k36-47 Month Bump-Up CD
1.35%$500-24-35 Month CD
1.30%$500-48-59 Month CD
1.25%$500-36-47 Month CD
1.00%$500-12-17 Month CD
0.80%$500-18-23 Month CD
0.40%$500-6-11 Month CD
0.30%$500-3-5 Month CD

Freedom Bank (NJ) IRA Rates

1.50%$500-60 Month IRA (Traditional,Roth,SEP)
1.35%$500-24-35 Month IRA (Traditional,Roth,SEP)
1.30%$500-48-59 Month IRA (Traditional,Roth,SEP)
1.25%$500-36-47 Month IRA (Traditional,Roth,SEP)
1.00%$500-12-17 Month IRA (Traditional,Roth,SEP)
0.80%$500-18-23 Month IRA (Traditional,Roth,SEP)
0.40%$500-6-11 Month IRA (Traditional,Roth,SEP)
0.30%$500-3-5 Month IRA (Traditional,Roth,SEP)

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