Cat Financial reported after-tax fourth-quarter profits of $108 million, which was a drop of 32 percent from the previous year. The decrease was mainly due to lower interest rates, which cost the company $23 million versus the year before. Fourth-quarter revenues were $703 million, a 1 percent decrease from the same period in 2013.
First Freedom Bank finished 2014 with net income of more than $3.3 million. That was 48 percent higher than the number of the year before and a fifth straight record number for CEO John Lancaster and his team. The nine-year-old, $285 million bank's return on equity topped 12 percent for the year, helped by loan growth of more than $20 million.
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