Milford Federal Bank

Headquarters

246 Main St
Milford, MA 01757
See all branch locations →

Notable Rates APY Vs.Others
Savings N.A. 4.01% →
1-Year CD N.A. 4.50% →
2-Year CD N.A. 4.73% →
5-Year CD N.A. 4.75% →
30-Year Mortgage N.A. 4.91% →
15-Year Mortgage N.A. 4.39% →
HELOC N.A. 1.93% →

2022 Overview

General Bank Information

Milford Federal Bank is an FDIC insured institution located in Milford, MA. It was founded in 1937 and has approximately $0.46 billion in assets. Customers can open an account at one of its 4 branches.

FDIC Insured Yes
FDIC Certificate # 29835
Date Established 1937
Assets $ 455.96 million
Loans $ 386.53 million
Deposits $ 396.43 million
Capital $ 52.06 million
 

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

Deposit Rates - December 1, 2022

Your Current Location: Virginia, VA 20146

Checking Rates APY MIN FEE
EZ Checking Free 0.00% $0 $0.00 Learn MoreShow Less
EZ Checking featuring GenGold 0.00% $100 $10.00 Learn MoreShow Less
N.O.W. Checking 0.10% $600 $10.00 Learn MoreShow Less
 

Loan Rates - December 1, 2022

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Milford Federal Bank

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




Featured - Virginia 30 Year Fixed Mortgage Rates 2022

Lender APR Rate (%) Monthly
Payment
Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
7.779% 7.625%
1.00 points
$3,750 fees
$1,770 Learn More
Filo Mortgage, LLC
NMLS ID: 1928741
5.456% 5.375%
0.88 points
$2,248 fees
$1,400 Learn More
Morty, Inc.
NMLS ID: 1429243
6.079% 5.990%
1.00 points
$2,405 fees
$1,498 Learn More
First Internet Bank
NMLS ID: 424182
6.200% 6.125%
0.75 points
$1,998 fees
$1,520 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2022

Lender APR (%)? Monthly Payment? Learn More
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
Intro APR 6.490 %
After Intro: 7.500 %
Intro Period: 12 months
$25,000 Learn More
More Info
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
6.240 %
$0 Learn More
More Info

Note to Milford Federal Bank
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Branches

Milford Federal Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


Milford Federal Bank Locations



Climate Initiatives

Milford Federal Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.

Financial Details

Milford Federal Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Milford Federal 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
Milford Federal Bank U.S. Bank Average
1.12% 4.06%

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 June 30, 2022, Milford Federal Bank had $602,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $52,060,000 in equity and $1,887,000 in loans loss reserves. That gives it a Texas Ratio of 1.12%.

Return on Equity
Milford Federal Bank U.S. Bank Average
2.62% 9.98%

Milford Federal Bank has a Return on Equity of 2.62% versus the BestCashCow average of 9.98%. 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.

Capitalization
Milford Federal Bank U.S. Bank Average
11.42% 10.23%

Milford Federal Bank has a Capitalization of 11.42% versus the BestCashCow average of 10.23. 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.

Milford Federal Bank Balance Sheet Analysis

As of June 30, 2022, Milford Federal Bank had assets of $455,963,000, loans of $386,534,000, and deposits of $396,432,000. 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

June 30, 2022
ASSETS
Cash & Balances due from depository institutions $ 19.19 million
Interest-bearing balances $ 17.32 million
Total securities $ 24.58 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 386.53 million
Loan loss allowance $ 1.89 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 2.57 million
All other assets $ 13.80 million
     Total Assets $ 403.90 million
LIABILITIES
Total deposits $ 396.43 million
      Interest-bearing deposits $ 353.40 million
      Deposits held in domestic offices $ 396.43 million
      % insured (estimated) 91.88%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 5.00 million
Subordinated debt N.A.
All other liabilities $ 2.47 million
      Total Liabilities $ 403.90 million
      Shareholders’ Equity $ 52.06 million

Summary Income Statement

June 30, 2022
INCOME AND EXPENSES
Total Interest Income $ 6.53 million
Total Interest Expense $ 0.38 million
Net interest income $ 6.16 million
Provision for loan and lease losses $ 0.05 million
Total non interest income $ 1.04 million
Total non interest expense $ 6.17 million
Pre-tax Net Operating Income $ 0.97 million

Bank Loan Profile?

The top three loan types in Milford Federal Bank’s loan portfolio are 1-4 Family Residential Loans, Multifamily Mortgages, and Commercial Real Estate.

Compared to other banks in Massachusetts, Milford Federal Bank has a significantly higher percent of 1-4 Family Residential Loans 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.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 91.99
Multifamily
Mortgages
2.94
Credit Card Loans 0.00
Consumer Auto Loans 0.09
Small Business Loans 2.27
Construction and Development Loans 0.95
Commercial Real Estate 2.91
Commercial and Industrial Loans 0.07
Farm Loans 0.00

Customer Reviews for Milford Federal Bank


  • November 5, 2020

    Appalling customer service! Don't answer the phone, a simple credit line takes days & a mountain of paperwork - absolutely not worth the trouble!

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