Harford Bank


8 West Bel Air Avenue
Aberdeen, MD 21001
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.15% 0.91% →
1-Year CD 0.65% 1.01% →
2-Year CD 0.80% 0.95% →
5-Year CD 1.10% 1.30% →
30-Year Mortgage N.A. 2.80% →
15-Year Mortgage N.A. 2.37% →
HELOC N.A. 2.79% →

2020 Overview

General Bank Information

Harford Bank is an FDIC insured institution located in Aberdeen, MD. It was founded in 1964 and has approximately $0.39 billion in assets. Customers can open an account at one of its 8 branches.

FDIC Insured Yes
FDIC Certificate # 19101
Date Established 1964
Assets $ 385.41 million
Loans $ 298.95 million
Deposits $ 322.41 million
Capital $ 42.90 million

For a more detailed analysis of Harford Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - October 31, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
0.15% $1 - Learn More
Money Market
0.20% $2,500 $19,999 Learn More
Money Market
0.30% $20,000 $49,999 Learn More
3 Mo CD
0.15% $1,000 - Learn More
6 Mo CD
0.30% $1,000 - Learn More
12 Mo CD
0.65% $1,000 - Learn More
Special: 13 Mo CD
0.90% $1,000 - Learn More
18 Mo CD
0.75% $1,000 - Learn More
24 Mo CD
0.80% $1,000 - Learn More
30 Mo CD
0.80% $1,000 - Learn More
36 Mo CD
0.85% $1,000 - Learn More
Special: 42 Mo CD
0.90% $1,000 - Learn More
48 Mo CD
0.95% $1,000 - Learn More
60 Mo CD
1.10% $1,000 - Learn More

Special: 13 Mo FIRA
0.90% $1,000 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
0.08% $1 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.02% $1 - Learn MoreShow Less

Loan Rates - October 31, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Harford Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Connecticut 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Learn More
Rocket Mortgage
NMLS ID: 3030
3.746% 3.625% 1.00 $3,750 $1,141 Learn More
NMLS ID: 2890
License#: 13256
2.558% 2.500% 0.75 $1,908 $988 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
See Table
2.240 %
$0 Learn More
More Info

Note to Harford Bank
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Financial Details

Harford Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Harford Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Harford Bank U.S. Bank Average
11.55% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, Harford Bank had $5,385,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $42,898,000 in equity and $3,715,000 in loans loss reserves. That gives it a Texas Ratio of 11.55%.

Return on Equity
Harford Bank U.S. Bank Average
4.8% 7.80%

Harford Bank has a Return on Equity of 4.8% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Harford Bank U.S. Bank Average
11.13% 12.68%

Harford Bank has a Capitalization of 11.13% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Harford Bank Balance Sheet Analysis

As of March 31, 2020, Harford Bank had assets of $385,409,000, loans of $298,946,000, and deposits of $322,411,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
Cash & Balances due from depository institutions $ 26.34 million
Interest-bearing balances $ 21.00 million
Total securities $ 40.19 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 298.95 million
Loan loss allowance $ 3.72 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles N.A.
All other assets $ 11.15 million
     Total Assets $ 342.51 million
Total deposits $ 322.41 million
      Interest-bearing deposits $ 239.20 million
      Deposits held in domestic offices $ 322.41 million
      % insured (estimated) 78.42%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 17.50 million
Subordinated debt N.A.
All other liabilities $ 2.60 million
      Total Liabilities $ 342.51 million
      Shareholders’ Equity $ 42.90 million

Summary Income Statement

March 31, 2020
Total Interest Income $ 3.91 million
Total Interest Expense $ 0.58 million
Net interest income $ 3.33 million
Provision for loan and lease losses $ 0.46 million
Total non interest income $ 0.43 million
Total non interest expense $ 2.63 million
Pre-tax Net Operating Income $ 0.66 million

Bank Loan Profile?

The top three loan types in Harford Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Small Business Loans.

Compared to other banks in Maryland, Harford Bank has a significantly higher percent of Small Business Loans, Commercial Real Estate on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 27.78
Credit Card Loans 0.00
Consumer Auto Loans 0.86
Small Business Loans 22.74
Construction and Development Loans 4.04
Commercial Real Estate 57.91
Commercial and Industrial Loans 5.27
Farm Loans 0.08

Frequently Asked Questions About Harford Bank

Branches and Savings

Is Harford Bank FDIC insured?

Yes. It is covered under FDIC Certificate #19101.

Why does Harford Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Harford Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Harford Bank a commercial bank?


Where are Harford Bank locations?

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Does Harford Bank offer mortgages?

Compare mortgage rates here.

Does Harford Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Harford Bank offer personal loans?

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Does Harford Bank offer student loans?

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Background on The Bank

Who owns Harford Bank?

How long has Harford Bank been around?

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Does Harford Bank have quick pay?

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