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Freedom Bank

Bradenton, FL · Cert 57930

FDIC

Q3 2008

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q3 2008, the quarter ended September 30, 2008, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Freedom Bank

Bradenton, FL · Cert 57930

FDIC

Q3 2008

$270.8MAssets
$211.9MLoans
$256.8MDeposits
$10.1MEquity
Loan mix
80%RE $134.6M19%C&I $32.6M0%Consumer $0.5MQ3 2007Q3 2008
Deposit mix
96%Interest-bearing $247.7M4%Noninterest $9.1MQ3 2007Q3 2008

NIM

5.97%Q3 ’066.54%Q3 ’075.48%Q3 ’08-9%-51%

Non-interest income vs. expense

3.36%Q3 ’062.94%Q3 ’073.09%Q3 ’08-8%+13%

Executive Summary

  • Earnings: ROA of -8.45%, down 770 bps year over year; NIM at 1.26%.
  • Asset quality: problem loans at 0.00% of loans (0 bps YoY), with net charge-offs at 4.80%.
  • Funding: loans stand at 82.52% of deposits as of Q3 2008.

Financial Results

Return on Assets (YTD, annualized)

-8.45%-770 bps YoY

Net Interest Margin (YTD, annualized)

1.26%-132 bps YoY

Efficiency Ratio (YTD, annualized)

270%+16,040 bps YoY

Tier 1 Leverage Ratio

n/a

Year to date, annualized, through each quarter.

MetricQ3 2007Q4 2007Q1 2008Q2 2008Q3 2008YoY ΔTrend
Earnings
Return on Assets-0.75%-2.19%-10.76%-10.25%-8.45%-770 bps
Return on Equity-6.49%-20.13%-136.76%-150.36%-139.04%-13,255 bps
Net Interest Margin2.59%2.52%1.61%1.19%1.26%-132 bps
Efficiency Ratio109.17%119.20%138.36%258%270%+16,040 bps
Non-Interest Burden2.83%3.04%2.26%2.74%3.21%+37 bps
Growth
Asset Growth (YoY)81.69%35.09%10.79%1.67%-6.90%-8,859 bps
Loan Growth (YoY)92.99%39.89%15.48%2.72%-10.09%-10,308 bps
Deposit Growth (YoY)100.72%40.71%13.30%8.99%0.41%-10,031 bps
Asset Quality
Nonperforming Loans / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Net Charge-Offs / Loans0.31%0.39%2.51%2.86%4.80%+448 bps
Allowance / Loans1.37%3.68%6.13%7.79%7.21%+584 bps
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ration/an/an/an/an/an/an/a
Total Risk-Based Capital12.96%9.61%7.76%4.97%3.45%-951 bps
Equity / Assets10.21%8.72%7.01%4.66%3.72%-649 bps
Liquidity & Funding
Loans / Deposits92.15%92.98%92.47%87.68%82.52%-964 bps
Liquid Assets / Assets0.56%0.49%0.46%0.47%0.04%-53 bps
CRE / Total Capitaln/an/an/an/an/an/an/a