Question 1

What is First Freedom Bank?

Accepted Answer

First Freedom Bank is an independent, community-focused, full-service commercial bank serving Middle Tennessee and the Upper Cumberland region. With approximately $732 million in total assets and 6 domestic offices, the bank specializes in providing personalized banking services to individuals and businesses across Wilson, Putnam, and Jackson counties.

First Freedom Bank operates within the Nashville-Davidson-Murfreesboro-Franklin metropolitan statistical area and has earned the prestigious Five Star rating from Bauer Financial, reflecting its strength and stability in the community banking sector.

Question 2

When was First Freedom Bank founded?

Accepted Answer

First Freedom Bank was founded in 2006 by 17 local organizers who envisioned bringing true community banking back to Middle Tennessee. The bank was incorporated on December 8, 2005, and opened its first office in Lebanon, Tennessee, in April 2006.

The bank's original stock offering of $20 million was raised in less than three weeks from more than 1,000 initial investors, with over 98% of them being Middle Tennessee residents. This overwhelming community support demonstrated the strong demand for local, relationship-based banking in the region. The founding team included banking professionals and community leaders such as John Lancaster, who serves as Chairman and CEO, and Ken Howell, one of the original founders with over 40 years of banking experience.

Question 3

Where is First Freedom Bank headquartered?

Accepted Answer

First Freedom Bank is headquartered in Lebanon, Tennessee. The main office is located at 1620 West Main Street, Lebanon, TN 37087.

In 2012, the bank constructed a new main office facility in Lebanon to accommodate its growing operations and better serve the community.

Question 4

Where does First Freedom Bank operate?

Accepted Answer

First Freedom Bank operates across three counties in Middle Tennessee with 6 retail banking offices. The bank maintains locations in:

Wilson County: Lebanon (main office), Mt. Juliet (Lebanon Road location), and Mt. Juliet (Providence Parkway location)

Putnam County: Cookeville and Algood

Jackson County: Gainesboro

All locations were established through organic growth or strategic acquisition. In May 2016, the bank expanded into Putnam and Jackson counties by purchasing three locations from FSG Bank, significantly extending its geographic footprint. The bank also operates an operations center in Mt. Juliet and provides additional ATM locations throughout its service area.

Question 5

What services does First Freedom Bank offer?

Accepted Answer

First Freedom Bank provides comprehensive personal and business banking services designed for community needs. Personal banking services include checking and savings accounts, certificates of deposit (CDs), individual retirement accounts (IRAs), personal loans, mortgage loans, and credit cards with options including Platinum (no annual fee) and World (cash back rewards) cards.

Business banking services feature business checking and savings accounts, commercial loans, business credit cards (World Elite with rewards), and a full suite of cash management solutions. Digital banking capabilities include online banking with bill pay, mobile banking with remote deposit capture, real-time account monitoring, and advanced debit card controls that allow customers to lock/unlock cards, set usage notifications, and customize card usage preferences.

The bank also offers mortgage applications that can be completed online, financial calculators through the online banking platform, and disbursement services for business customers. All branch locations provide ATM access and convenient drive-through services with extended Saturday hours.

Question 6

What makes First Freedom Bank unique?

Accepted Answer

First Freedom Bank distinguishes itself through exceptional customer service and deep community roots. The bank consistently receives praise for its friendly, professional staff who treat customers like neighbors rather than account numbers. Customer testimonials emphasize the personalized attention and relationship-based approach that sets the bank apart from larger institutions.

The bank has maintained a Five Star rating from Bauer Financial, the nation's leading independent bank rating firm, demonstrating consistent financial strength and stability. First Freedom Bank is BBB Accredited with an A+ rating and has been recognized for its commitment to protecting customer accounts and providing transparent, helpful service.

With approximately 75 employees serving the local communities, the bank operates on the principle that "we're not just another bank; we're your neighbors." This philosophy is reflected in the bank's strong financial performance, including a return on assets (ROA) of approximately 1.43% and return on equity (ROE) of 12.79%, indicating efficient operations while maintaining a community-focused approach.

Question 7

What type of financial institution is First Freedom Bank?

Accepted Answer

First Freedom Bank is a State-Chartered Commercial Bank. As a commercial bank with a state charter, the bank operates under Tennessee state banking regulations and is supervised by the Federal Deposit Insurance Corporation (FDIC) rather than being a member of the Federal Reserve System.

This classification allows First Freedom Bank to offer a full range of commercial and retail banking services while maintaining its independence as a locally-owned community bank. The bank holds FDIC insurance (CERT #58208) and operates as an Equal Housing Lender, providing deposit protection and regulatory oversight that ensures customer safety and financial stability.

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About First Freedom Bank in the United States