The Freedom Bank of Virginia

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The Freedom Bank of Virginia Locations

Deposit Rates - May 25, 2022

SAVINGS RATES APY MIN
CD RATES APY MIN
6 Mo CD
0.55% $10,000 Compare
6 Mo CD
0.55% $100,000 Compare
MM RATES APY MIN
Money Market
0.05% $2,500 Compare
Money Market
0.10% $10,000 Compare
Money Market
0.15% $25,000 Compare
FIXED IRA RATES APY MIN
Fixed IRA
0.65% $1
INT CHECKING RATES APY MIN
Int Ckg
0.05% $1
Int Ckg
0.05% $2,500

Overview 2022

General Bank Information

FDIC Insured Yes
FDIC Certificate # 57184
Date Established 2001
Assets $ 877.77 million
Loans $ 609.18 million
Deposits $ 704.96 million
Capital $ 101.31 million

Summary Balance Sheet

ASSETS
Cash & Balances due from depository institutions $ 34.23 million
Interest-bearing balances $ 31.36 million
Total securities $ 189.55 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 609.18 million
Loan loss allowance $ 6.49 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 $ 40.98 million
     Total Assets $ 776.46 million

LIABILITIES
Total deposits $ 704.96 million
      Interest-bearing deposits $ 479.53 million
      Deposits held in domestic offices $ 704.96 million
      % insured (estimated) 46.73%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 61.09 million
Subordinated debt N.A.
All other liabilities $ 10.41 millionn
      Total Liabilities $ 776.46 million
      Shareholders’ Equity $ 101.31 million

Summary Income Statement

INCOME AND EXPENSES
Total Interest Income $ 31.56 million
Total Interest Expense $ 2.95 million
Net interest income $ 28.60 million
Provision for loan and lease losses $ 0.84 million
Total non interest income $ 9.72 million
Total non interest expense $ 23.60 million
Pre-tax Net Operating Income $ 13.88 million

The Freedom Bank of Virginia is an FDIC insured institution headquartered at 10555 Main Street, Fairfax, VA 22030.
It was founded in 2001 and has approximately $1 billion in assets. Customers can open an account at one of its 3 branches.

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Savings Comparison

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

PRODUCT
BANK
BANK TYPE
STATE
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
MILES

Tax Rate: 30%

All calculations are for demonstration purposes only.

  • 1
    LOCAL CD
    Bank
    VIRGINIA
    $50,000
    6 Month
    0.55%
    2.05x (National Avg. - 0.27%)
    $10,000
    -
    SCENARIO
    Year Rate
    0.55%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 275 193
    2 50,275 277 194
    3 50,552 278 195
    4 50,830 280 196
    5 51,109 281 197
    6 51,390 283 198
    7 51,673 284 199
    8 51,957 286 200
    9 52,243 287 201
    10 52,530 289 202
    11 52,819 291 203
    12 53,110 292 204
    13 53,402 294 206
    14 53,695 295 207
    15 53,991 297 208
    16 54,288 299 209
    17 54,586 300 210
    18 54,886 302 211
    19 55,188 304 212
    20 55,492 305 214
    TOTAL $5,797 $4,058
  • 2
    ONLINE CD
    Online Bank
    -
    $50,000
    12 Month
    1.30%
    3.22x (National Avg. - 0.40%)
    $5,000
    -
    SCENARIO
    Year Rate
    1.30%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 650 455
    2 50,650 658 461
    3 51,308 667 467
    4 51,975 676 473
    5 52,651 684 479
    6 53,336 693 485
    7 54,029 702 492
    8 54,731 712 498
    9 55,443 721 505
    10 56,164 730 511
    11 56,894 740 518
    12 57,633 749 524
    13 58,383 759 531
    14 59,142 769 538
    15 59,910 779 545
    16 60,689 789 552
    17 61,478 799 559
    18 62,277 810 567
    19 63,087 820 574
    20 63,907 831 582
    TOTAL $14,738 $10,317