Overview

* Freedom Bank Q3 net income rises 225.6% yr/yr

* Net interest margin increased 34 basis points to 2.66%

* Total assets decreased 3.8% from Q2 as bank reduced brokered funding

Outlook

* Freedom Bank expects reduced short-term rates to positively impact margins and earnings

* Company maintains strong liquidity and capital amid market uncertainty

* Freedom Bank sees elevated risk and weakening economic conditions ahead

Result Drivers

* NET INTEREST MARGIN - Co expanded net interest margin by reducing wholesale deposits and benefiting from lower market rates

* COMMERCIAL LOANS - Co increased new commercial loan balances to $31 mln in Q3, reflecting client confidence

* PROBLEM LOANS - Co addressed problem loans, maintaining allowance for credit losses amid economic uncertainty

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.16

Q3 Net $6.75

Interest mln

Income

Q3 Basic $0.16

EPS

Q3 CET1 14.64%

Capital

Ratio

Q3 Net 2.66%

Interest

Margin

Press Release:

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)