Freedom Financial Bank

Headquarters

1255 Jordan Creek Parkway
West Des Moines, IA 50266
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 0.95% →
1-Year CD N.A. 1.01% →
2-Year CD N.A. 0.95% →
5-Year CD N.A. 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Freedom Financial Bank is an FDIC insured institution located in West Des Moines, IA. It was founded in 1999 and has approximately $0.2 billion in assets. Customers can open an account at one of its 2 branches.

FDIC Insured Yes
FDIC Certificate # 35031
Date Established 1999
Assets $ 198.57 million
Loans $ 164.94 million
Deposits $ 141.60 million
Capital $ 19.74 million
 

For a more detailed analysis of Freedom Financial Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - October 22, 2020

Your Current Location: Connecticut, CT 06828


Loan Rates - October 22, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Freedom Financial Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Connecticut 30 Year Fixed Mortgage Rates 2020

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Payment
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Rocket Mortgage
NMLS ID: 3030
3.620% 3.500% 1.00 $3,750 $1,123 Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
2.570% 2.500% 0.88 $2,312 $988 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
People's United Bank, N.A.
People's United Bank, N.A.
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4.000 %
$0 Learn More
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Third Federal Savings and Loans
Third Federal Savings and Loans
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2.240 %
$0 Learn More
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Note to Freedom Financial Bank
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Branches

Freedom Financial Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Fairfield,Connecticut


Freedom Financial Bank Locations


Financial Details

Freedom Financial Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Freedom Financial Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Freedom Financial Bank U.S. Bank Average
11.6% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, Freedom Financial Bank had $2,542,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $19,739,000 in equity and $2,173,000 in loans loss reserves. That gives it a Texas Ratio of 11.6%.

Return on Equity
Freedom Financial Bank U.S. Bank Average
9.51% 7.80%

Freedom Financial Bank has a Return on Equity of 9.51% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Freedom Financial Bank U.S. Bank Average
9.94% 12.68%

Freedom Financial Bank has a Capitalization of 9.94% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Freedom Financial Bank Balance Sheet Analysis

As of March 31, 2020, Freedom Financial Bank had assets of $198,566,000, loans of $164,943,000, and deposits of $141,600,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 19.78 million
Interest-bearing balances $ 16.40 million
Total securities $ 5.01 million
Federal funds sold and reverse repurchase $ 1.06 million
Net loans and leases $ 164.94 million
Loan loss allowance $ 2.17 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 2.86 million
     Total Assets $ 178.83 million
LIABILITIES
Total deposits $ 141.60 million
      Interest-bearing deposits $ 121.79 million
      Deposits held in domestic offices $ 141.60 million
      % insured (estimated) 78.11%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 36.15 million
Subordinated debt N.A.
All other liabilities $ 1.08 million
      Total Liabilities $ 178.83 million
      Shareholders’ Equity $ 19.74 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 2.26 million
Total Interest Expense $ 0.72 million
Net interest income $ 1.55 million
Provision for loan and lease losses $ 0.26 million
Total non interest income $ 0.03 million
Total non interest expense $ 0.85 million
Pre-tax Net Operating Income $ 0.47 million

Bank Loan Profile?

The top three loan types in Freedom Financial Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Multifamily Mortgages.

Compared to other banks in Iowa, Freedom Financial Bank has a significantly higher percent of Multifamily Mortgages, Construction and Development Loans, Commercial Real Estate on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 14.09
Multifamily
Mortgages
12.90
Credit Card Loans 0.00
Consumer Auto Loans 0.00
Small Business Loans 0.00
Construction and Development Loans 10.79
Commercial Real Estate 42.87
Commercial and Industrial Loans 11.82
Farm Loans 3.05

Frequently Asked Questions About Freedom Financial Bank

Branches and Savings

Is Freedom Financial Bank FDIC insured?

Yes. It is covered under FDIC Certificate #35031.

Why does Freedom Financial Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Freedom Financial Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Freedom Financial Bank a commercial bank?

Yes

Where are Freedom Financial Bank locations?

See branch locations nearby.

Is Freedom Financial Bank open on Saturdays?

Is Freedom Financial Bank open on Sundays?

What time does Freedom Financial Bank open?

What time does Freedom Financial Bank close?

Are Freedom Financial Bank ATMs Open 24/7?

Do Freedom Financial Bank ATMs accept cash deposits?

Can Freedom Financial Bank customers use other ATMs?

Do Freedom Financial Bank branches have notaries?

Will Freedom Financial Bank notarize my document?

What address for Freedom Financial Bank should I put for incoming ACH transfers?

Will the Freedom Financial Bank branch print checks?

Do Freedom Financial Bank checks expire?

Does Freedom Financial Bank require US citizenship to open account?

Can Freedom Financial Bank close my account?

Does Freedom Financial Bank Report to credit bureaus?

Does Freedom Financial Bank Use Equifax?

What is Freedom Financial Bank's ACH Routing Number?

What is Freedom Financial Bank's SWIFT code?

Products

Does Freedom Financial Bank offer mortgages?

Compare mortgage rates here.

Does Freedom Financial Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Freedom Financial Bank offer personal loans?

Compare personal loan rates here.

Does Freedom Financial Bank offer student loans?

Will Freedom Financial Bank cash a check?

Will Freedom Financial Bank redeem a savings bond?

Does Freedom Financial Bank cash savings bonds?

Will Freedom Financial Bank cash money orders?

Can Freedom Financial Bank issue a money order?

Does Freedom Financial Bank do currency exchange?

Background on The Bank

Who owns Freedom Financial Bank?

How long has Freedom Financial Bank been around?

Can Freedom Financial Bank transfer to other banks?

Does Freedom Financial Bank have quick pay?

Does Freedom Financial Bank accept rolled coins?

Will Freedom Financial Bank accept loose change?

Where is Freedom Financial Bank headquarters?

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