First Freedom Bank had a very solid third quarter. Through three quarters of 2015, net income is up 30.7% over the same period in 2014. During this same time period, our balance sheet has grown by 10.2%, fueled primarily by a 13% increase in the loan portfolio and a 6.9% increase in deposits. Comparing year-to-date third quarter numbers to fiscal year 2014, Return on Shareholder Equity (ROE) has increased from 12.06% to 13.16%, Return on Assets (ROA) has increased from 1.18% to 1.25% and our Non-Performing Asset ratio (NPA) has improved from 1.66% to 0.97%.
In late August, independent investment banking firm Bank Street Partners released their quarterly rankings report which reflected further improvement in First Freedom's performance from 5th (at 3-31-2015) to 3rd (at 6-30-2015). This made First Freedom the highest rated Tennessee-based bank in middle Tennessee.