The Freedom Bank of Virginia (FDVA) 8.5000 $FDVA
Freedom Bank More Than Doubles Net Income in First Quarter 2016 Over Prior Year
BusinessWire - Wed Apr 27, 3:03PM CDT
The Freedom Bank of Virginia (OTCQX: FDVA) earned net income of $402 thousand for the first quarter of 2016, which is more than double the $142 thousand earned the same period the prior year. Solid asset growth by the Bank and profitable mortgage banking activities produced the strong gain. Growth was not sacrificed to achieve increased profits as total assets grew over $71 million from the prior year to $425 million at March 31, 2016.
Freedom Bank Closes Remaining $6 million of $16 million Capital Raise
BusinessWire - Tue Mar 22, 8:37AM CDT
The Freedom Bank of Virginia (OTCQX: FDVA) (the "Bank"
today announced the closing of the remaining $6.0 million of the previously disclosed private placement of an aggregate of $16.0 million of its common stock to institutional investors led by Patriot Financial Partners II, L.P. The Bank had previously closed on $10.0 million of the gross proceeds on December 29, 2015. The proceeds from the capital raise will be used for general corporate purposes, including supporting the growth of the Bank.
Freedom Bank Shareholders Approve Amendment and Restatement of Articles of Incorporation
BusinessWire - Mon Mar 21, 8:16AM CDT
The Freedom Bank of Virginia (OTCQX: FDVA) (the "Bank" today announced that on March 16, 2016, following approval by the shareholders at the annual meeting of shareholders of the Bank, the Bank filed Articles of Amendment and Restatement with the Virginia State Corporation Commission ("SCC" to amend and restate the Bank's Articles of Incorporation. The SCC declared the Amended and Restated Articles of Incorporation effective as of March 16, 2016.
Freedom Bank's Net Income Before Taxes Increases $1 Million in 2015
BusinessWire - Tue Feb 02, 8:41AM CST
The Freedom Bank of Virginia (OTCQX: FDVA) earned net income before income tax provision of $2,603,570 for the year ended December 31, 2015, a 62.7% increase from $1,600,398 earned in 2014. Net income after income tax expense was $1,718,570 at December 31, 2015. The bank did not require recognition of income tax expense in 2014.
OTC Markets Group Announces Agenda for February 4th OTCQX Banks Virtual Investor Conference
PR Newswire - Thu Jan 28, 3:22PM CST
Individual and institutional investors invited to log on and ask questions directly to bank CEOs and their senior executives
Freedom Bank's Private Placement: Accretive to Tangible Book Value
BusinessWire - Mon Jan 04, 10:11AM CST
The Freedom Bank of Virginia (OTCQX: FDVA) (the "Bank" previously announced on December 29, 2015 that it entered into definitive agreements directly with institutional investors for the purchase of an aggregate of $16.0 million of its common stock and closed on $10.0 million on that date. The transaction was accretive to the Bank's tangible book value, and the price paid per share is approximately 110% of the tangible book value per share as of September 30, 2015.
Freedom Bank declares private placement of USD16.0m common stock shares
M2 - Wed Dec 30, 4:22AM CST
The Freedom Bank of Virginia (OTCQX:FDVA) declared on Tuesday that it signed definitive purchase agreements for the private placement of USD16.0m total of its common stock, to institutional investors led by Patriot Financial Partners II LP.
Freedom Bank Announces $16 million Capital Raise
BusinessWire - Tue Dec 29, 2:58PM CST
The Freedom Bank of Virginia (OTCQX: FDVA) (the "Bank" today announced the entry into definitive purchase agreements for the private placement of an aggregate of $16.0 million of its common stock to institutional investors led by Patriot Financial Partners II, L.P. The proceeds from the capital raise will be used to support the growth of the Bank and for general corporate purposes. The Bank closed $10.0 million of the gross proceeds today and the remaining $6.0 million is expected to close in the first quarter of 2016.
Stefan Goldfaden Joins The Freedom Bank of Virginia as a Mortgage Loan Officer
BusinessWire - Tue Aug 25, 10:20AM CDT
The Freedom Bank of Virginia (OTCQX:FDVA) is proud to announce that Stefan Goldfaden has joined The Freedom Bank of Virginia as a Mortgage Loan Officer. Mr. Goldfaden rejoins several other Loan Officers at Freedom Bank that were once part of another local community bank, Virginia Heritage Bank. Virginia Heritage Bank was purchased by Eagle Bank Corp of Maryland in October of 2014.
Freedom Bank names three new mortgage loan officers to team
M2 - Wed Jul 01, 6:57AM CDT
The Freedom Bank of Virginia (OTCQX:FDVA) revealed on Wednesday that Kevin Dennis, Steven Mitchell and Ellen Findley have been appointed as mortgage loan officers.
Dennis-Mitchell-Findley Join Freedom Bank Mortgage
BusinessWire - Tue Jun 30, 2:39PM CDT
The Freedom Bank of Virginia (OTCQX: FDVA) announces Kevin Dennis and Steven Mitchell join Freedom Bank of Virginia as Mortgage Loan Officers. Kevin has over 13 years of experience in the field of mortgage banking and was previously with Presidential Bank. Prior to Presidential he was part of VHB Mortgage, a division of Virginia Heritage Bank. Steve Mitchell has been a mortgage originator for 4 years and was previously with First Home Mortgage Corp. Prior to First Home, he was also with VHB Mortgage, a division of Virginia Heritage Bank.
The Freedom Bank of Virginia Investor Presentation Now Available for On-Demand Viewing
PR Newswire - Mon Jun 08, 2:50PM CDT
Company invites individual and institutional investors to log-on to OTC Markets' event at VirtualInvestorConferences.com
Freedom Bank of Virginia (FDVA: OTCQX) to Webcast Live at VirtualInvestorConferences.com on Thursday, June 4
CNW Group - Mon Jun 01, 1:06PM CDT
Company invites individual and institutional investors as well as advisors to attend interactive real-time virtual roadshow
OTC Markets Group to Host Virtual Investor Conferences for OTCQX Companies
CNW Group - Tue May 26, 7:00AM CDT
The first event on June 4 will feature live webcast presentations by OTCQX-traded community banks as they showcase their stories to investors
Freedom Bank of Virginia Named to 2015 OTCQX Best 50
BusinessWire - Mon May 18, 3:45PM CDT
The Freedom Bank of Virginia (OTCQX: FDVA) is pleased to announce it has been named to the 2015 OTCQX(R) Best 50, a ranking of 50 top performing companies traded on the OTCQX Best Marketplace last year.
Freedom Bank Included in New OTCQX Bank Index
BusinessWire - Tue Jan 27, 12:10PM CST
The Freedom Bank of Virginia (OTCQX: FDVA) was selected for inclusion in the OTCQX Bank Index. The index is a benchmark for tracking the performance of publicly traded U.S. community and regional banks or their holding companies that trade on the OTCQX marketplace.
Freedom Bank's Net Income Increases 16.7% on Record Asset Growth
BusinessWire - Wed Jan 21, 3:40PM CST
The Freedom Bank of Virginia (OTCQX: FDVA) earned net income of $1,600,397 for the year ending December 31, 2014, a 16.7% increase over the $1,371,772 net profit at December 31, 2013. Total assets were $342,611,644 at December 31, 2014, up 24.9% from $274,202,059 the prior year. CEO Underhill indicated, "Profitability is increasing based on strong loan growth. Our investment in lenders the past two years is showing results. Our Chief Lending Officer Kevin Curtis and his team had a strong 2013 and surpassed those impressive results in 2014." Chairman Litman noted, "The board is very pleased with the increasing commercial loan volume of the bank. In December 2014 the bank hired Richard Hutchison, who ran Virginia Heritage Mortgage prior to its sale, to try to generate a similar increase in mortgage lending in 2015. Kevin and Richard have known each other for many years and we believe they will work well together providing Freedom Bank with exceptionally strong lending leadership."
Freedom Bank Announces Details of $3 Million Rights Offering
BusinessWire - Thu Dec 18, 3:50PM CST
Freedom Bank of Virginia (Bank) (OTCQB:FDVA) announces the Board of Directors has approved details of $3 million stock rights offering. The rights offering follows the $1.5 million before expenses raised from new shareholders in a general offering. This rights offering will be units containing five (5) shares of common stock and one (1) warrant to purchase a share of common stock for up to two years in the future. The pricing for the stock is $9.00 per share and the warrant will allow the purchase of an additional share at $9.00 for up to two (2) years into the future. It will begin December 22, 2014 for shareholders of record as of December 12, 2014. It will end January 30, 2015. All shareholders of record as of December 12, 2014 will be eligible to participate in this rights offering. The proceeds will continue funding organic growth, allow further branching, increase the lending staff, expand the bank's mortgage division and possible merger and acquisition activity. Any shares not purchased by right by shareholders will become available to the other shareholders in the offering.
Freedom Bank names Richard A Hutchison as SVP and chief mortgage officer
M2 - Thu Dec 11, 6:22AM CST
The Freedom Bank of Virginia (OTCQX:FDVA), a community-oriented, locally-owned bank, on Thursday named Richard A Hutchison as senior vice president (SVP) and chief mortgage officer and a member of the bank's senior management team.
Richard A. Hutchison Joins Freedom Bank
BusinessWire - Wed Dec 10, 3:56PM CST
The Freedom Bank of Virginia (Bank) (OTCQX: FDVA) announces Richard A. Hutchison joins Freedom Bank of Virginia as Senior Vice President and Chief Mortgage Officer and member of the bank's senior management team. Hutchison was previously with Virginia Heritage Bank as a Senior Executive Officer and the Chief Mortgage Officer responsible for all mortgage loan production and first trust mortgage origination. Virginia Heritage Bank merged with Eagle Bank Corp in October of 2014. Prior to Virginia Heritage Bank, Hutchison was a Senior Executive Officer with Community Bank of Northern Virginia, which was sold to Mercantile and PNC. Hutchison joins Jamie K. Adkins, previously the Senior Mortgage Operations Officer of Virginia Heritage Bank, who is now the Senior Mortgage Operations Officer of Freedom Bank. Hutchison and Adkins built a very successful platform at Virginia Heritage Bank leveraging technology to ensure delivery of mortgage products to their clients and Loan Officers. Hutchison stated, "I am confident that we can bring that same platform to Freedom Bank."
Freedom Bank More Than Doubles Net Income in First Quarter 2016 Over Prior Year
BusinessWire - Wed Apr 27, 3:03PM CDT
The Freedom Bank of Virginia (OTCQX: FDVA) earned net income of $402 thousand for the first quarter of 2016, which is more than double the $142 thousand earned the same period the prior year. Solid asset growth by the Bank and profitable mortgage banking activities produced the strong gain. Growth was not sacrificed to achieve increased profits as total assets grew over $71 million from the prior year to $425 million at March 31, 2016.
Freedom Bank Closes Remaining $6 million of $16 million Capital Raise
BusinessWire - Tue Mar 22, 8:37AM CDT
The Freedom Bank of Virginia (OTCQX: FDVA) (the "Bank"
today announced the closing of the remaining $6.0 million of the previously disclosed private placement of an aggregate of $16.0 million of its common stock to institutional investors led by Patriot Financial Partners II, L.P. The Bank had previously closed on $10.0 million of the gross proceeds on December 29, 2015. The proceeds from the capital raise will be used for general corporate purposes, including supporting the growth of the Bank. Freedom Bank Shareholders Approve Amendment and Restatement of Articles of Incorporation
BusinessWire - Mon Mar 21, 8:16AM CDT
The Freedom Bank of Virginia (OTCQX: FDVA) (the "Bank"
today announced that on March 16, 2016, following approval by the shareholders at the annual meeting of shareholders of the Bank, the Bank filed Articles of Amendment and Restatement with the Virginia State Corporation Commission ("SCC" to amend and restate the Bank's Articles of Incorporation. The SCC declared the Amended and Restated Articles of Incorporation effective as of March 16, 2016. Freedom Bank's Net Income Before Taxes Increases $1 Million in 2015
BusinessWire - Tue Feb 02, 8:41AM CST
The Freedom Bank of Virginia (OTCQX: FDVA) earned net income before income tax provision of $2,603,570 for the year ended December 31, 2015, a 62.7% increase from $1,600,398 earned in 2014. Net income after income tax expense was $1,718,570 at December 31, 2015. The bank did not require recognition of income tax expense in 2014.
OTC Markets Group Announces Agenda for February 4th OTCQX Banks Virtual Investor Conference
PR Newswire - Thu Jan 28, 3:22PM CST
Individual and institutional investors invited to log on and ask questions directly to bank CEOs and their senior executives
Freedom Bank's Private Placement: Accretive to Tangible Book Value
BusinessWire - Mon Jan 04, 10:11AM CST
The Freedom Bank of Virginia (OTCQX: FDVA) (the "Bank"
previously announced on December 29, 2015 that it entered into definitive agreements directly with institutional investors for the purchase of an aggregate of $16.0 million of its common stock and closed on $10.0 million on that date. The transaction was accretive to the Bank's tangible book value, and the price paid per share is approximately 110% of the tangible book value per share as of September 30, 2015. Freedom Bank declares private placement of USD16.0m common stock shares
M2 - Wed Dec 30, 4:22AM CST
The Freedom Bank of Virginia (OTCQX:FDVA) declared on Tuesday that it signed definitive purchase agreements for the private placement of USD16.0m total of its common stock, to institutional investors led by Patriot Financial Partners II LP.
Freedom Bank Announces $16 million Capital Raise
BusinessWire - Tue Dec 29, 2:58PM CST
The Freedom Bank of Virginia (OTCQX: FDVA) (the "Bank"
today announced the entry into definitive purchase agreements for the private placement of an aggregate of $16.0 million of its common stock to institutional investors led by Patriot Financial Partners II, L.P. The proceeds from the capital raise will be used to support the growth of the Bank and for general corporate purposes. The Bank closed $10.0 million of the gross proceeds today and the remaining $6.0 million is expected to close in the first quarter of 2016. Stefan Goldfaden Joins The Freedom Bank of Virginia as a Mortgage Loan Officer
BusinessWire - Tue Aug 25, 10:20AM CDT
The Freedom Bank of Virginia (OTCQX:FDVA) is proud to announce that Stefan Goldfaden has joined The Freedom Bank of Virginia as a Mortgage Loan Officer. Mr. Goldfaden rejoins several other Loan Officers at Freedom Bank that were once part of another local community bank, Virginia Heritage Bank. Virginia Heritage Bank was purchased by Eagle Bank Corp of Maryland in October of 2014.
Freedom Bank names three new mortgage loan officers to team
M2 - Wed Jul 01, 6:57AM CDT
The Freedom Bank of Virginia (OTCQX:FDVA) revealed on Wednesday that Kevin Dennis, Steven Mitchell and Ellen Findley have been appointed as mortgage loan officers.
Dennis-Mitchell-Findley Join Freedom Bank Mortgage
BusinessWire - Tue Jun 30, 2:39PM CDT
The Freedom Bank of Virginia (OTCQX: FDVA) announces Kevin Dennis and Steven Mitchell join Freedom Bank of Virginia as Mortgage Loan Officers. Kevin has over 13 years of experience in the field of mortgage banking and was previously with Presidential Bank. Prior to Presidential he was part of VHB Mortgage, a division of Virginia Heritage Bank. Steve Mitchell has been a mortgage originator for 4 years and was previously with First Home Mortgage Corp. Prior to First Home, he was also with VHB Mortgage, a division of Virginia Heritage Bank.
The Freedom Bank of Virginia Investor Presentation Now Available for On-Demand Viewing
PR Newswire - Mon Jun 08, 2:50PM CDT
Company invites individual and institutional investors to log-on to OTC Markets' event at VirtualInvestorConferences.com
Freedom Bank of Virginia (FDVA: OTCQX) to Webcast Live at VirtualInvestorConferences.com on Thursday, June 4
CNW Group - Mon Jun 01, 1:06PM CDT
Company invites individual and institutional investors as well as advisors to attend interactive real-time virtual roadshow
OTC Markets Group to Host Virtual Investor Conferences for OTCQX Companies
CNW Group - Tue May 26, 7:00AM CDT
The first event on June 4 will feature live webcast presentations by OTCQX-traded community banks as they showcase their stories to investors
Freedom Bank of Virginia Named to 2015 OTCQX Best 50
BusinessWire - Mon May 18, 3:45PM CDT
The Freedom Bank of Virginia (OTCQX: FDVA) is pleased to announce it has been named to the 2015 OTCQX(R) Best 50, a ranking of 50 top performing companies traded on the OTCQX Best Marketplace last year.
Freedom Bank Included in New OTCQX Bank Index
BusinessWire - Tue Jan 27, 12:10PM CST
The Freedom Bank of Virginia (OTCQX: FDVA) was selected for inclusion in the OTCQX Bank Index. The index is a benchmark for tracking the performance of publicly traded U.S. community and regional banks or their holding companies that trade on the OTCQX marketplace.
Freedom Bank's Net Income Increases 16.7% on Record Asset Growth
BusinessWire - Wed Jan 21, 3:40PM CST
The Freedom Bank of Virginia (OTCQX: FDVA) earned net income of $1,600,397 for the year ending December 31, 2014, a 16.7% increase over the $1,371,772 net profit at December 31, 2013. Total assets were $342,611,644 at December 31, 2014, up 24.9% from $274,202,059 the prior year. CEO Underhill indicated, "Profitability is increasing based on strong loan growth. Our investment in lenders the past two years is showing results. Our Chief Lending Officer Kevin Curtis and his team had a strong 2013 and surpassed those impressive results in 2014." Chairman Litman noted, "The board is very pleased with the increasing commercial loan volume of the bank. In December 2014 the bank hired Richard Hutchison, who ran Virginia Heritage Mortgage prior to its sale, to try to generate a similar increase in mortgage lending in 2015. Kevin and Richard have known each other for many years and we believe they will work well together providing Freedom Bank with exceptionally strong lending leadership."
Freedom Bank Announces Details of $3 Million Rights Offering
BusinessWire - Thu Dec 18, 3:50PM CST
Freedom Bank of Virginia (Bank) (OTCQB:FDVA) announces the Board of Directors has approved details of $3 million stock rights offering. The rights offering follows the $1.5 million before expenses raised from new shareholders in a general offering. This rights offering will be units containing five (5) shares of common stock and one (1) warrant to purchase a share of common stock for up to two years in the future. The pricing for the stock is $9.00 per share and the warrant will allow the purchase of an additional share at $9.00 for up to two (2) years into the future. It will begin December 22, 2014 for shareholders of record as of December 12, 2014. It will end January 30, 2015. All shareholders of record as of December 12, 2014 will be eligible to participate in this rights offering. The proceeds will continue funding organic growth, allow further branching, increase the lending staff, expand the bank's mortgage division and possible merger and acquisition activity. Any shares not purchased by right by shareholders will become available to the other shareholders in the offering.
Freedom Bank names Richard A Hutchison as SVP and chief mortgage officer
M2 - Thu Dec 11, 6:22AM CST
The Freedom Bank of Virginia (OTCQX:FDVA), a community-oriented, locally-owned bank, on Thursday named Richard A Hutchison as senior vice president (SVP) and chief mortgage officer and a member of the bank's senior management team.
Richard A. Hutchison Joins Freedom Bank
BusinessWire - Wed Dec 10, 3:56PM CST
The Freedom Bank of Virginia (Bank) (OTCQX: FDVA) announces Richard A. Hutchison joins Freedom Bank of Virginia as Senior Vice President and Chief Mortgage Officer and member of the bank's senior management team. Hutchison was previously with Virginia Heritage Bank as a Senior Executive Officer and the Chief Mortgage Officer responsible for all mortgage loan production and first trust mortgage origination. Virginia Heritage Bank merged with Eagle Bank Corp in October of 2014. Prior to Virginia Heritage Bank, Hutchison was a Senior Executive Officer with Community Bank of Northern Virginia, which was sold to Mercantile and PNC. Hutchison joins Jamie K. Adkins, previously the Senior Mortgage Operations Officer of Virginia Heritage Bank, who is now the Senior Mortgage Operations Officer of Freedom Bank. Hutchison and Adkins built a very successful platform at Virginia Heritage Bank leveraging technology to ensure delivery of mortgage products to their clients and Loan Officers. Hutchison stated, "I am confident that we can bring that same platform to Freedom Bank."
