Freedom Bank (NJ) is headquartered in MAYWOOD and is the 32nd largest bank in the state of New Jersey. It is also the 1,362nd largest bank in the nation. It was established in 2008 and as of June of 2023, it had grown to 55 employees at 5 locations. Freedom Bank (NJ) has a B+ health rating.
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Very Impressed As A New Customer
Freedom Bank ( NJ ) was recommended to me through a friend. I went to www.depositaccounts.com
to do my homework on this particular bank. I was impressed with the Health Rating as well as the Texas Ratio both were A+ so I decided to open an account near me in a local branch. I called ahead and spoke with Kathleen and had a very pleasant conversation. She was very helpful over the phone and we met shortly after at the local branch. Upon entering I met Mary also very professional and pleasant to speak to and work with. This particular branch looked like new and was spotless! Everything was handled professionally and promptly ! So far So good. I look forward to a long relationship with this bank. Great rates / Professional people / Good Bank Health rating
are the ingredients for long time customer!
Cheers from New Jerseys premier Jazz Pianist / Entertainer : SD
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 58712 |
| Year Established | 2008 |
| Employees | 55 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.84% |
| Return on Equity - YTD | 7.87% |
| Annual Interest Income | $17.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $671.8MM$654.2MM |
| Loans | Q2 2023vs Q2 2022 | $598.3MM$545.8MM |
| Deposits | Q2 2023vs Q2 2022 | $532.4MM$557.3MM |
| Equity Capital | Q2 2023vs Q2 2022 | $72.3MM$64.7MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $4.0MM$5.7MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $2.0MM$1.0MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |