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877-236-1468
502 Maple Avenue West
Vienna, VA 22181

The Freedom Bank of Virginia is headquartered in Vienna and is the 60th largest bank in the state of Virginia. It is also the 2,211st largest bank in the nation. It was established in 2001 and as of March of 2014, it had grown to 46 employees at 2 locations. The Freedom Bank of Virginia has a A+ health rating.

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Health

Data for Q1 2014

Institution Health

A+

Texas Ratio

GRADE:
A+

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 The Freedom Bank of Virginia had $1.19 million in non-current loans and owned real-estate with $29.17 million in equity and loan loss allowances on hand to cover it. This gives The Freedom Bank of Virginia a Texas Ratio of 4.09% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for The Freedom Bank of Virginia decreased dramatically from 7.37% as of March 31, 2013 to 4.09% as of March 31, 2014, resulting in a positive change of 44.55%.This indicates that the balance sheet and financial strength for The Freedom Bank of Virginia has improved dramatically in recent periods.

Deposit Growth

GRADE:
A+

In the past year, The Freedom Bank of Virginia has increased its total deposits by $52.49 million, resulting in 24.6% 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 The Freedom Bank of Virginia has shown is excellent.

Capitalization

GRADE:
B

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. The Freedom Bank of Virginia has $293.56 million in assets with $29.17 million in equity, resulting in a capitalization level of 9.94%, which is above average.

Institution Statistics

Overall
FDIC Certificate #57184
Year Established2001
Employees46
Primary RegulatorFED
Assets and Liabilities
Assets$293.56 million
Loans$242.27 million
Deposits$265.91 million
Equity Capital$26.58 million
Loan Loss Allowance$2.59 million
Unbacked Noncurrent Loans$1.19 million
Real Estate Owned$0
Historic Data - March 2013
Assets$239.63 million
Equity Capital$25.56 million
Loan Loss Allowance$2.31 million
Unbacked Noncurrent Loans$1.19 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin3.83%
Return on Assets0.49%
Return on Equity5.28%
Interest Income$3.17 million
Rates
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The Freedom Bank of Virginia CD Rates

DetailsAPYMINMAXPRODUCT
1.05%$500-20 Month CD Special
1.01%$500-14 Month CD Special
Locations


The Freedom Bank of Virginia Locations
Fairfax Branch10555 Main StreetFairfax, VA 22030
The Freedom Bank Of Virginia502 Maple Avenue WestVienna, VA 22181