Freedom Financial Holdings Announces Earnings for Fourth Quarter and Full Year 2022
FAIRFAX, Va., Jan. 27, 2023 /PRNewswire/ — Freedom Financial Holdings (OTCQX: FDVA), (the “Company” or “Freedom”), the holding company for The Freedom Bank of Virginia (the “Bank”) today announced net income of $2,861,940, or $0.39 per diluted share, for the three months ended December 31, 2022. This compares to net income of $2,689,950 or $0.37 per diluted share, for the linked quarter and net income of $2,743,088 or $0.37 per diluted share for the three months ended December 31, 2021. Net income for the full year 2022 was $10,563,572 or $1.45 per diluted share compared to net income of $10,727,961 or $1.46 per diluted share for the full year 2021. Tangible book value per share in the fourth quarter of 2022 was higher by 4.72% from the prior quarter but was lower by 8.91% compared to the same period in 2021, primarily due to changes in Accumulated Other Comprehensive Income (“AOCI”).