First Freedom Earnings 3rd Quarter
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.
Posted on 11/05/2015 1:25 PM by Giulia Ware
First Freedom Bank Announces Plans for Donelson Office
First Freedom Bank has purchased a location in Donelson and plans to open a full service office in 2016, announced John Lancaster, president and chief executive officer. Previously a SunTrust Bank branch, the building at 2725 Old Lebanon Pike in the Donelson Plaza will undergo a complete overhaul to be in line with First Freedom's technological and service standards.
Upon completion, the 6,500 square foot office will have private offices for lending, mortgage and investment services. It will include customer safety deposit boxes accessible through state of the art hand print technology and a sizable conference room. The retail lobby will be equipped with Wi-Fi capabilities for customer convenience and demonstration of bank products. Externally, the office will offer 4 drive-through windows with video conferencing abilities, a secure night depository and 24-hour ATM facility.
"We are very excited about our entry into the Donelson market and specifically this location," stated Lancaster. "First Freedom's focus on small business solutions and consumer banking capabilities will be a great fit for the business-heavy Donelson area. We look forward to showing the community how we can add value to their business."
The Donelson office will be First Freedom's fourth retail location, and its first outside of Wilson County. The bank currently operates two retail offices in Mt. Juliet and one in Lebanon. All offices are supported from the bank's operations facility in Mt. Juliet.
Posted on 11/05/2015 10:02 AM by Giulia Ware