Freedom Bank of Virginia announced unaudited earnings results for the year ended December 31, 2013. For the year, the company reported net interest income of $9,274,128 against $7,912,296 a year ago. Income before income taxes was $1,371,772 against $1,192,253 a year ago.

Net income was $1,371,772 or $0.40 per diluted share against $1,192,253 or $0.35 per diluted share a year ago. Net profit increased in 2013 primarily due to growth in interest income from loans and a reduction in contributions to the loan loss reserve due to improving asset quality.