FreedomBank
Elkader, Iowa, Clayton County
$434M in total assets, the 1,986th largest of 4,309 US banks and 74th of 227 headquartered in Iowa.
- FDIC certificate
- 11767
- Established
- 1903
- Owned by
- Freedombank Shares Employee Stk Ownership Plan
- Primary regulator
- FDIC
- Website
- www.freedombnk.com
At a glance
Compared with 166 banks headquartered in Iowa with $100 million to $1 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $434M | 72% | $277M | |
| Loans | $335M | 76% | $192M | |
| Deposits | $368M | 74% | $234M | |
| Return on assets | 1.27% | 43% | 1.34% | |
| Net interest margin | 3.52% | 40% | 3.65% | |
| Efficiency ratio | 60.9% | 71% | 55.3% | |
| Equity to assets | 11.27% | 62% | 10.55% | |
| Loans to deposits | 91% | 70% | 83% |
Growth
Total assets grew -1.7% a year over the last 5 years and 5.1% a year over 10 years, including 1 acquisition in the last 10 years.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Apr 2019 | Farmers and Merchants Savings Bank Waukon, IA | $158M |
| Mar 2006 | Postville State Bank Postville, IA, an affiliate under the same holding company | $66M |
| Mar 2006 | Union State Bank Monona, IA, an affiliate under the same holding company | $74M |
Where they operate
4 branches in 2 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Clayton County, IA | $191M | 9.9% | 2 of 8 |
| Allamakee County, IA | $177M | 20.6% | 2 of 6 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net gain of 1 branch since 2016 (3 to 4, +33.3%). 0 opened, 2 acquired, 1 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 3 | |||
| 2019 | Acquired Farmers and Merchants Savings Bank | 2 | 0 | +2 | 5 |
| 2024 | Closed Decorah | 0 | 1 | −1 | 4 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Farmland | 28% | 21% | |
| 1-4 family residential | 22% | 22% | |
| Agricultural | 17% | 16% | |
| Commercial real estate | 16% | 17% | |
| Business (C&I) | 11% | 13% | |
| Construction and land | 3% | 4% | |
| Consumer | 2% | 2% | |
| Multifamily | 0% | 3% | |
| Other | 1% | 1% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Time deposits | 40% | 33% | |
| Other interest-bearing | 38% | 49% | |
| Noninterest-bearing | 23% | 18% |
Brokered deposits are 0.3% of deposits (peers 3.1%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 0.11% | 0.47% |
| Net charge-offs, annualized | 0.02% | 0.00% |
| Reserves to loans | 1.11% | 1.23% |
| Leverage ratio | 10.70% | 10.95% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in Iowa
Largest competitors in Clayton County, IA
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/freedombank