Freedom Bank of Georgia
Commerce, GA · Owner: Freedom Bancshares Inc
$172M
total assets, December 31, 2008
$172M
total assets, December 31, 2008
Freedom Bank of Georgia was a state nonmember bank in Commerce, GA, owned by Freedom Bancshares Inc. It failed on Mar 6, 2009, and Northeast Georgia Bank took over its deposits. At its last report it held $172.5 million in assets.
Updated Oct 11, 2026 · numbers as of December 31, 2008
This bank failed
- Failed on
- Mar 6, 2009
- Assets
- $172M
- Deposits
- $159M
- Estimated cost
- $43.3M
- Deposits went to
- Northeast Georgia Bank, Lavonia, GA
Total assets
$172M
+17.2% in a year · +17.1% in a quarter
Deposits
$159M
+37.4% in a year · +30.7% in a quarter
Loans
$106M
-10.2% in a year · -4.6% in a quarter
Profit so far
-$8.9M
Jan 1 to Dec 31, 2008 · -3034.4% in a year
Capital ratio
2.73%
-5.50 pts in a year
Return on assets
-5.81%
-6.02 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- 3165 Maysville Road, Commerce, GA, 30529
- County
- Jackson
- Holding company
- Freedom Bancshares Inc
- Established
- Feb 17, 2004
- Failed
- Mar 6, 2009
- Employees
- 39
- Branches
- 4
- Id
- b57558
Quarter by quarter
March 31, 2004 to December 31, 2008
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is Freedom Bank of Georgia?
$172.5 million in total assets and $159.0 million in deposits as of December 31, 2008, with assets up 17.2% from a year before. Its loans were $106.2 million.
How many branches does Freedom Bank of Georgia have?
4 branches in Georgia as of June 30, 2026.
Is Freedom Bank of Georgia profitable?
No: it lost $8.95 million from January 1 to December 31, 2008. Its return on assets was -5.81% a year; about 1% is typical.
Who owns Freedom Bank of Georgia?
Freedom Bank of Georgia is owned by Freedom Bancshares Inc, its holding company.
When did Freedom Bank of Georgia fail?
Mar 6, 2009. Northeast Georgia Bank of Lavonia, GA took over its deposits. The estimated cost of the failure was $43.3 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.