Call reports 2023
FREEDOM BANK OF VIRGINIA, THE — 2023
What FREEDOM BANK OF VIRGINIA, THE reported to the FFIEC in 2023, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2023Q1 | 2023Q2 | 2023Q3 | 2023Q4 |
|---|---|---|---|---|
| Total assets | 1,014,132,000 | 1,041,276,000 | 1,058,922,000 | 1,083,814,000 |
| Total loans | 715,071,000 | 733,501,000 | 759,629,000 | 776,408,000 |
| Allowance for loan losses | 7,170,000 | 7,107,000 | 7,214,000 | 10,519,000 |
| Securities available for sale | 190,849,000 | 196,349,000 | 206,038,000 | 211,258,000 |
| Securities held to maturity | 17,065,000 | 21,041,000 | 20,599,000 | 20,198,000 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 875,151,000 | 903,214,000 | 927,975,000 | 921,123,000 |
| Interest-bearing deposits | 704,300,000 | 737,659,000 | 758,256,000 | 777,102,000 |
| Noninterest-bearing deposits | 170,851,000 | 165,555,000 | 169,719,000 | 144,021,000 |
| Equity capital | 96,693,000 | 97,176,000 | 93,921,000 | 96,178,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2023Q1 | 2023Q2 | 2023Q3 | 2023Q4 |
|---|---|---|---|---|
| Interest income | 12,449,000 | 26,294,000 | 41,008,000 | 56,522,000 |
| Interest expense | 5,056,000 | 12,009,000 | 20,002,000 | 28,552,000 |
| Net interest income | 7,393,000 | 14,285,000 | 21,006,000 | 27,970,000 |
| Noninterest income | 942,000 | 2,054,000 | 2,869,000 | 3,895,000 |
| Noninterest expense | 6,072,000 | 11,212,000 | 16,582,000 | 22,060,000 |
| Provision for loan losses | 543,000 | 781,000 | 986,000 | 5,737,000 |
| Pretax income | 1,720,000 | 4,346,000 | 6,307,000 | 4,068,000 |
| Income tax | 58,000 | 566,000 | 864,000 | 252,000 |
| Net income | 1,662,000 | 3,780,000 | 5,443,000 | 3,816,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2023Q1 | 2023Q2 | 2023Q3 | 2023Q4 |
|---|---|---|---|---|
| Tier 1 capital | 113,098,000 | 115,231,000 | 115,309,000 | 113,696,000 |
| Total capital | 120,373,000 | 122,444,000 | 122,635,000 | 124,299,000 |
| Risk-weighted assets | 839,399,000 | 852,087,000 | 869,668,000 | 898,764,000 |