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584 Putnam Pike
Greenville, RI 02828

Freedom National Bank is headquartered in Greenville and is the 9th largest bank in the state of Rhode Island. It is also the 4,638th largest bank in the nation. It was established in 2001 and as of March of 2014, it had grown to 19 employees at 2 locations. Freedom National Bank's savings rates are 92% higher than the national average, and it has a B+ health rating.

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Reviews (1)

So Far, So Good With This Local Bank

It was six months ago that I opened a rewards checking account here, and haven't had any problems at all. Their 2.5% rate (capped at 25k) is fairly competitive, and does not require DD or other hoops to jump through :)


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 National Bank had $1.31 million in non-current loans and owned real-estate with $10.54 million in equity and loan loss allowances on hand to cover it. This gives Freedom National Bank a Texas Ratio of 12.44% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Freedom National Bank experienced no significant changes from 7.69% as of March 31, 2013 to 12.44% as of March 31, 2014, resulting in a negative change of 61.81%. This indicates that the balance sheet and financial strength for Freedom National Bank has had no significant changes in recent periods.

Deposit Growth


In the past year, Freedom National Bank has increased its total deposits by $2.54 million, resulting in 3.25% 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 National Bank 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 National Bank has $103.98 million in assets with $10.54 million in equity, resulting in a capitalization level of 10.14%, which is above average.

Institution Statistics

FDIC Certificate #57254
Year Established2001
Primary RegulatorOCC
Assets and Liabilities
Assets$103.98 million
Loans$72.65 million
Deposits$80.65 million
Equity Capital$9.33 million
Loan Loss Allowance$1.21 million
Unbacked Noncurrent Loans$1.31 million
Real Estate Owned$0
Historic Data - March 2013
Assets$97.70 million
Equity Capital$9.06 million
Loan Loss Allowance$1.22 million
Unbacked Noncurrent Loans$1.31 million
Real Estate Owned$171,000
Profit Margin - Quarterly
Return on Assets0.05%
Return on Equity0.52%
Interest Income$949,000

Always verify rates and promotions with the bank or credit union. We are not Freedom National Bank, we are a rate comparison website and can not provide official rates or promotions.

Freedom National Bank Savings Account Rates

1.00%-$50kReal Saver - Qualifying
0.20%--Basic Savings
0.05%--Real Saver - Non Qualifying

Freedom National Bank Money Market Rates

0.80%$999k-Business Money Market Account
0.30%$50k-Personal Money Market Account

Freedom National Bank Checking Account Rates

2.50%-$25kReward Checking - Qualifying
0.05%--Reward Checking - Non Qualifying

Freedom National Bank CD Rates

1.45%$1k-60 Month Certificate
1.05%$1k-48 Month Certificate
0.75%$1k-36 Month Certificate
0.65%$1k-30 Month Certificate
0.55%$1k-24 Month Certificate
0.45%$1k-18 Month Certificate
0.35%$1k-12 Month Certificate
0.35%$1k-15 Month Certificate
0.30%$1k-9 Month Certificate
0.25%$1k-6 Month Certificate
0.25%$1k-8 Month Certificate

Freedom National Bank IRA Rates

1.45%$1k-60 Month IRA Certificate
1.05%$1k-48 Month IRA Certificate
0.75%$1k-36 Month IRA Certificate
0.65%$1k-30 Month IRA Certificate
0.55%$1k-24 Month IRA Certificate
0.45%$1k-18 Month IRA Certificate
0.35%$1k-12 Month IRA Certificate
0.35%$1k-15 Month IRA Certificate
0.30%$1k-9 Month IRA Certificate
0.25%$1k-6 Month IRA Certificate
0.25%$1k-8 Month IRA Certificate

Freedom National Bank Locations
Cumberland Branch2150 Mendon RoadCumberland, RI 2864
Freedom National Bank584 Putnam PikeGreenville, RI 2828