OTC-QX:FDVA

Freedom Bank Assists the City of Winchester and the Economic Development Authority of the City of Winchester, Virginia with Significant Revitalization Project

Retrieved on: 
Wednesday, June 21, 2023
Housing, City, Town square, New Jersey Economic Development Authority, Economic development, Retail

FAIRFAX, Va., June 21, 2023 /PRNewswire/ -- The Freedom Bank of Virginia ("Freedom Bank") announced today that it provided a total of $4 million in funding to the City of Winchester and the Economic Development Authority of the City of Winchester to revitalize the Ward Plaza shopping center which includes a mixed-use project with a 40,000-square-foot anchor tenant and a mix of homes and retail space. 

Key Points: 
  • "Freedom Bank was thrilled to provide the funding for this important project.
  • The new housing and retail space this project will bring to the Winchester area will undoubtedly provide immense opportunities and benefits for the community.
  • We are grateful for the trust the City of Winchester and the Economic Development Authority of the City of Winchester placed in Freedom and our bankers to assist with this highly anticipated project.
  • "Freedom Bank's staff enabled us to close on this very important project for the City of Winchester.

Freedom Financial Holdings Announces Earnings for First Quarter of 2023

Retrieved on: 
Thursday, April 27, 2023
Total, Federal, Current Expected Credit Losses, HTM, Calendar, AOCI, Efficiency ratio, Sale, Federal Home Loan Banks, PPP, Federal Reserve responses to the subprime crisis, Federal Reserve, Real estate owned, CECL, SBA, ASU, Bank, Fraud, ACL, Federal funds, Life insurance, Cryptocurrency

The first quarter of the year is also a seasonally low quarter for residential mortgage originations.

Key Points: 
  • The first quarter of the year is also a seasonally low quarter for residential mortgage originations.
  • Non-interest expense in the first quarter increased by 19.18% compared to the linked quarter and increased by 10.18% compared to the same period in 2022.
  • The Efficiency Ratio was 78.76% for the quarter ended March 31, 2023, compared to 58.44% for the linked quarter and 61.70% for the same period in 2022.
  • Retained earnings were $35.47 million on March 31, 2023, compared to $34.11 million at the end of the prior quarter.

Freedom Financial Holdings Announces Earnings for Fourth Quarter and Full Year 2022

Retrieved on: 
Friday, January 27, 2023
Government, Tier 1 capital, Comprehensive income, Inter-satellite service, Bank, CECL, Federal Home Loan Banks, Federal Reserve, Current Expected Credit Losses, Calendar, Sale, OTCQX, Risk-weighted asset, PPP, Total, Real estate owned, Credit, Privacy and the US government, Freedom, Efficiency ratio, ASU, Federal, SBA, Federal funds, AOCI, Investment, Cryptocurrency, Video game, Life insurance, Security (finance), Real estate, Insurance

Available for sale investment securities were unchanged during the fourth quarter and increased by $10.04 million in 2022.

Key Points: 
  • Available for sale investment securities were unchanged during the fourth quarter and increased by $10.04 million in 2022.
  • Additional paid-in capital was $58.24 million on December 31, 2022, compared to $58.45 million as of September 30, 2022.
  • Retained earnings were $34.11 million on December 31, 2022, compared to $31.25 million at the end of the prior quarter.
  • Total shares issued and outstanding were 7,184,259 as of December 31, 2022, compared to 7,281,606 shares as of September 30, 2022.

Freedom Bank Receives Regulatory Approval to Relocate its Chantilly Branch

Retrieved on: 
Tuesday, December 6, 2022
Suite, Environment, OTCQX, Financial institution, Bank, Dream, Virginia State Route 609 (Fairfax County), Federal Reserve Bank, Multimedia, Federal Reserve Bank of St. Louis, Bureau

FAIRFAX, Va., Dec. 6, 2022 /PRNewswire/ -- The Freedom Bank of Virginia (OTCQX: FDVA) announced today that it received regulatory approval from the Federal Reserve Bank of Richmond and Bureau of Financial Institutions – State Corporation Commission to relocate its current branch at 4500 Daly Drive, Suite 240, Chantilly, Virginia to establish a new branch at 4090 Lafayette Center Drive, Suite B in Chantilly. In connection with this, the Freedom Bank Mortgage Division located at 4211 Pleasant Valley Road, Chantilly will also move to this new location when it opens on Tuesday, January 3, 2023.  This conveniently located office will give the Bank and the Mortgage Division improved space and access to better serve clients with ample parking and easy access off Route 50 and Pleasant Valley Road.

Key Points: 
  • FAIRFAX, Va., Dec. 6, 2022 /PRNewswire/ -- The Freedom Bank of Virginia (OTCQX: FDVA) announced today that it received regulatory approval from the Federal Reserve Bank of Richmond and Bureau of Financial Institutions State Corporation Commission to relocate its current branch at 4500 Daly Drive, Suite 240, Chantilly, Virginia to establish a new branch at 4090 Lafayette Center Drive, Suite B in Chantilly.
  • Freedom Bank (OTCQX: FDVA) is a next-generation community bank, headquartered in Fairfax, Virginia, offering commercial banking, personal banking, and mortgage banking solutions using banker expertise and innovative technology to build lead relationships with clients.
  • Freedom Bank has sales office locations in Fairfax, Vienna, Reston, Manassas, and Chantilly, VA.
  • The Freedom Bank Mortgage Division is headquartered in Chantilly, VA and the Freedom Bank Small Business Lending Division is headquartered in Harrison, NY.

Freedom Bank Announces Partnership with FinTech Autobooks to Deliver Digital Invoicing and Payment Solutions to Business Clients

Retrieved on: 
Monday, November 28, 2022
Bank, OTCQX, Freedom, ACH, Dream, Financial services

FAIRFAX, Va., Nov. 28, 2022 /PRNewswire/ -- The Freedom Bank of Virginia (OTCQX: FDVA) announced it launched a new digital invoicing and payment solution for business clients powered by Autobooks. These new services allow Freedom's small business clients to leverage easy invoicing and payments options seamlessly integrated and available within the Bank's online and mobile banking platform. Business clients can quickly and easily generate professional looking invoices and send them directly to their customers' inbox. Each invoice includes a "pay now" button that recipients can use to make their payment safely and securely using a credit card or ACH. There is no monthly cost for the service and clients only pay the merchant fees for credit card transactions and ACH payment sent by their customer.

Key Points: 
  • FAIRFAX, Va., Nov. 28, 2022 /PRNewswire/ --The Freedom Bank of Virginia (OTCQX: FDVA) announced it launched a new digital invoicing and payment solution for business clients powered by Autobooks.
  • Business clients can quickly and easily generate professional looking invoices and send them directly to their customers' inbox.
  • "Freedom Bank is thrilled to add these new digital and payment services to our robust suite of digital banking solutions.
  • The Freedom Bank Mortgage Division is headquartered in Chantilly, VA and the Freedom Bank Small Business Lending Division is headquartered in Harrison, NY.

The Freedom Bank Foundation's Inaugural Fall Gala Raises Over $110,000 to Support Economic Inclusion

Retrieved on: 
Wednesday, October 19, 2022
Color, CBP, Foundation, Internal Revenue Code, Dream, Goal, Learning, Gala, CEO, OTCQX, Solution, Internal Revenue Code section 409A, Cryptocurrency

FAIRFAX, Va., Oct. 19, 2022 /PRNewswire/ -- The Freedom Bank of Virginia (OTCQX: FDVA) announced the Freedom Bank Foundation's inaugural Fall Gala raised over $110,000 to promote economic inclusion in the local community and support the critical work the Foundation has engaged in with the Community Business Partnership (CBP). The Foundation is focused on supporting the NOVA Freedom Fund which was launched by the CBP and Freedom Bank to provide financing and technical assistance to minorities and entrepreneurs of color in the DC Region.

Key Points: 
  • FAIRFAX, Va., Oct. 19, 2022 /PRNewswire/ -- The Freedom Bank of Virginia (OTCQX: FDVA) announced the Freedom Bank Foundation's inaugural Fall Gala raised over $110,000 to promote economic inclusion in the local community and support the critical work the Foundation has engaged in with the Community Business Partnership (CBP).
  • "We are grateful for the overwhelming success of our first ever Freedom Bank Foundation Gala.
  • The Freedom Bank Foundation is a nonprofit, tax exempt charitable organization under Section 501(c)(3) of the Internal Revenue Code.
  • The Freedom Bank Mortgage Division is headquartered in Chantilly, VA and the Freedom Bank Small Business Lending Division is headquartered in Harrison, NY.

The Small Business Administration (SBA) Approves Freedom Bank for the Preferred Lenders Program (PLP)

Retrieved on: 
Tuesday, October 11, 2022
PLP, Bank, Small Business Administration, Dream, Goal, CEO, OTCQX, SBA, Solution, Real estate, Financial services

FAIRFAX, Va., Oct. 11, 2022 /PRNewswire/ -- The Freedom Bank of Virginia (OTCQX: FDVA) announced today that the Small Business Administration (SBA) approved the Bank for the Preferred Lenders Program (PLP). The SBA designates certain experienced lenders as PLP Lenders and delegates the authority to process, close, service, and liquidate most SBA-guaranteed loans without prior SBA review. Now as a PLP Lender, Freedom Bank is authorized to make SBA-guaranteed loans without prior SBA review of eligibility or creditworthiness allowing for a more seamless and timely loan process. 

Key Points: 
  • FAIRFAX, Va., Oct. 11, 2022 /PRNewswire/ -- The Freedom Bank of Virginia (OTCQX: FDVA) announced today that the Small Business Administration (SBA) approved the Bank for the Preferred Lenders Program (PLP).
  • The SBA designates certain experienced lenders as PLP Lenders and delegates the authority to process, close, service, and liquidate most SBA-guaranteed loans without prior SBA review.
  • "Freedom Bank's Small Business Lending Division has been working diligently since its inception to serve clients through government guaranteed loans including SBA 7(a) loans.
  • The Freedom Bank Mortgage Division is headquartered in Chantilly, VA and the Freedom Bank Small Business Lending Division is headquartered in Harrison, NY.

Freedom Bank Announces Inaugural Foundation Gala to Support Economic Inclusion in Northern Virginia

Retrieved on: 
Tuesday, September 13, 2022
Fund, Gala, Internal Revenue Code, Dream, Learning, OTCQX, CEO, Goal, Solution, Foundation, Reston Town Center, CBP, Awareness, Color, Cryptocurrency, Boston Properties

FAIRFAX, Va., Sept. 13, 2022 /PRNewswire/ -- The Freedom Bank of Virginia (OTCQX: FDVA) announced today it will be hosting its first annual Freedom Bank Foundation Gala on Thursday, September 29 at Window Plaza in the Reston Town Center. The Gala will raise funds to promote economic inclusion in the local community and build on the exciting work the Freedom Bank Foundation has engaged in with the Community Business Partnership (CBP). The Foundation teamed with the CBP to launch the NOVA Freedom Fund which provides financing and technical assistance for minorities and entrepreneurs of color in the DC Region.

Key Points: 
  • FAIRFAX, Va., Sept.13, 2022 /PRNewswire/ -- The Freedom Bank of Virginia (OTCQX: FDVA) announced today it will be hosting its first annual Freedom Bank Foundation Gala on Thursday, September 29 at Window Plaza in the Reston Town Center.
  • The Gala will raise funds to promote economic inclusion in the local community and build on the exciting work the Freedom Bank Foundation has engaged in with the Community Business Partnership (CBP).
  • "We are thrilled to host the Freedom Bank Foundation Gala at the beautiful window plaza in the newest phase of the Reston Town Center.
  • The Freedom Bank Mortgage Division is headquartered in Chantilly, VA and the Freedom Bank Small Business Lending Division is headquartered in Harrison, NY.