Call reports 2024
FREEDOM BANK OF VIRGINIA, THE — 2024
What FREEDOM BANK OF VIRGINIA, THE reported to the FFIEC in 2024, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Total assets | 1,092,046,000 | 1,095,077,000 | 1,099,582,000 | 1,089,195,000 |
| Total loans | 764,981,000 | 779,321,000 | 781,402,000 | 773,861,000 |
| Allowance for loan losses | 9,466,000 | 8,236,000 | 8,683,000 | 6,535,000 |
| Securities available for sale | 216,504,000 | 218,708,000 | 218,409,000 | 209,688,000 |
| Securities held to maturity | 20,868,000 | 20,836,000 | 20,420,000 | 20,389,000 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 895,081,000 | 881,203,000 | 889,669,000 | 910,842,000 |
| Interest-bearing deposits | 752,412,000 | 742,892,000 | 743,736,000 | 775,867,000 |
| Noninterest-bearing deposits | 142,669,000 | 138,311,000 | 145,933,000 | 134,975,000 |
| Equity capital | 95,896,000 | 96,474,000 | 100,336,000 | 98,988,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Interest income | 15,482,000 | 30,680,000 | 46,359,000 | 61,596,000 |
| Interest expense | 8,741,000 | 17,555,000 | 26,943,000 | 35,559,000 |
| Net interest income | 6,741,000 | 13,125,000 | 19,416,000 | 26,037,000 |
| Noninterest income | 1,174,000 | 2,389,000 | 3,543,000 | 4,813,000 |
| Noninterest expense | 5,810,000 | 11,593,000 | 17,653,000 | 23,731,000 |
| Provision for loan losses | 0 | -1,166,000 | -607,000 | -714,000 |
| Pretax income | 2,110,000 | 5,106,000 | 5,931,000 | 7,728,000 |
| Income tax | 482,000 | 1,059,000 | 1,135,000 | 1,336,000 |
| Net income | 1,628,000 | 4,047,000 | 4,796,000 | 6,392,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Tier 1 capital | 113,978,000 | 114,734,000 | 115,446,000 | 117,077,000 |
| Total capital | 123,590,000 | 123,121,000 | 124,286,000 | 123,807,000 |
| Risk-weighted assets | 881,940,000 | 876,743,000 | 874,157,000 | 862,697,000 |