Call reports 2008
FREEDOM BANK OF VIRGINIA, THE — 2008
What FREEDOM BANK OF VIRGINIA, THE reported to the FFIEC in 2008, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2008Q1 | 2008Q2 | 2008Q3 | 2008Q4 |
|---|---|---|---|---|
| Total assets | 107,949,000 | 128,075,000 | 151,713,000 | 144,201,000 |
| Total loans | 86,019,000 | 105,429,000 | 111,148,000 | 121,461,000 |
| Allowance for loan losses | 862,000 | 1,203,000 | 1,473,000 | 2,277,000 |
| Securities available for sale | 6,586,000 | 5,497,000 | 4,496,000 | 2,592,000 |
| Securities held to maturity | 7,854,000 | 7,661,000 | 7,402,000 | 7,118,000 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 82,907,000 | 103,482,000 | 127,282,000 | 120,904,000 |
| Interest-bearing deposits | 65,723,000 | 80,141,000 | 105,162,000 | 101,676,000 |
| Noninterest-bearing deposits | 17,184,000 | 23,342,000 | 22,120,000 | 19,228,000 |
| Equity capital | 24,632,000 | 24,174,000 | 23,758,000 | 22,705,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2008Q1 | 2008Q2 | 2008Q3 | 2008Q4 |
|---|---|---|---|---|
| Interest income | 1,678,000 | 3,552,000 | 5,657,000 | 7,717,000 |
| Interest expense | 669,000 | 1,394,000 | 2,334,000 | 3,297,000 |
| Net interest income | 1,009,000 | 2,158,000 | 3,323,000 | 4,420,000 |
| Noninterest income | 74,000 | 152,000 | 205,000 | 265,000 |
| Noninterest expense | 1,186,000 | 2,476,000 | 3,825,000 | 5,047,000 |
| Provision for loan losses | 180,000 | 520,000 | 810,000 | 1,865,000 |
| Pretax income | -270,000 | -673,000 | -1,095,000 | -2,215,000 |
| Income tax | 0 | 0 | 0 | 0 |
| Net income | -270,000 | -673,000 | -1,095,000 | -2,215,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2008Q1 | 2008Q2 | 2008Q3 | 2008Q4 |
|---|---|---|---|---|
| Tier 1 capital | 24,569,000 | 24,170,000 | 23,755,000 | 22,645,000 |
| Total capital | 25,431,000 | 25,373,000 | 25,214,000 | 24,234,000 |
| Risk-weighted assets | 89,164,000 | 107,806,000 | 116,692,000 | 126,400,000 |
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