Banks | The Milford Bank

The Milford Bank


The Milford Bank is an FDIC insured institution headquartered at 33 Broad St, Milford, CT 06460.
It was founded in 1872 and has approximately $1 billion in assets. Customers can open an account at one of its 10 branches.

Deposit Rates - December 22, 2024

SAVINGS RATES APY MIN
Savings
0.01% $2,500 Compare
CD RATES APY MIN
6 Mo CD
0.10% $10,000 Compare
6 Mo CD
0.10% $100,000 Compare
12 Mo CD
0.15% $10,000 Compare
12 Mo CD
0.15% $100,000 Compare
18 Mo CD
0.20% $10,000 Compare
18 Mo CD
0.20% $100,000 Compare
24 Mo CD
0.25% $10,000 Compare
24 Mo CD
0.25% $100,000 Compare
36 Mo CD
0.50% $10,000 Compare
36 Mo CD
0.50% $100,000 Compare
48 Mo CD
0.60% $10,000 Compare
48 Mo CD
0.60% $100,000 Compare
60 Mo CD
0.70% $10,000 Compare
60 Mo CD
0.70% $100,000 Compare
MM RATES APY MIN
Money Market
0.02% $2,500 Compare
Money Market
0.05% $10,000 Compare
Money Market
0.05% $25,000 Compare
INT CHECKING RATES APY MIN
Int Ckg
0.02% $2,500

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 16101
Date Established 1872
Assets $ 600.25 million
Loans $ 454.15 million
Deposits $ 513.13 million
Capital $ 46.08 million

Summary Balance Sheet as of March 31, 2024

ASSETS
Cash & Balances due from depository institutions $ 19.52 million
Interest-bearing balances $ 12.95 million
Total securities $ 98.32 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 454.15 million
Loan loss allowance $ 4.34 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 0.01 million
All other assets $ 19.72 million
     Total Assets $ 554.18 million

LIABILITIES
Total deposits $ 513.13 million
      Interest-bearing deposits $ 370.97 million
      Deposits held in domestic offices $ 513.13 million
      % insured (estimated) 84.29%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 0.07 million
Subordinated debt N.A.
All other liabilities $ 14.61 millionn
      Total Liabilities $ 554.18 million
      Shareholders’ Equity $ 46.08 million

Summary Income Statement as of March 31, 2024

INCOME AND EXPENSES
Total Interest Income $ 12.04 million
Total Interest Expense $ 3.39 million
Net interest income $ 8.65 million
Provision for loan and lease losses $ 0.20 million
Total non interest income $ 1.67 million
Total non interest expense $ 9.20 million
Pre-tax Net Operating Income $ 2.24 million

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