Milford Bank

33 Broad Street
Milford, CT 06460
203-783-5700
www.milfordbank.com

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On June 26, 1872, thirty-eight prominent Milford citizens who recognized the need for a bank in Milford contributed funds to start a local savings bank. The new bank was formed as a mutual savings institution with no stockholders or other owners. The bank’s purpose was to serve the financial needs of its customers and to serve its community. Those goals have not changed.

The world of banking and financial services is changing rapidly. Individuals and businesses demand quality service, delivered quickly and conveniently. All of us at The Milford Bank work hard every day to meet that challenge. That’s whytheir loyal customers know, “There’s no place like hometown banking.”

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See Rates for: Savings | CD | IRA

Milford Bank Savings Account Rates

	Apy	Min	Max	Product
	0.25%	-	-	Passbook Club Accounts

Milford Bank CD Rates

Apy	Min	Max	Product
1.50%	$1k	-	5 Year CD
1.20%	$1k	-	3 Year CD
1.20%	$1k	-	4 Year CD
0.70%	$1k	-	2 Year CD
0.65%	$1k	-	18 Month CD
0.40%	$1k	-	1 Year CD
0.30%	$1k	-	6 Month CD
0.25%	$1k	-	91 Day CD

Milford Bank IRA Rates

	Apy	Min	Max	Product
	0.30%	$25	-	1 year + Floating Rate IRA

Rates updated: 2/10/2012

Data for Q3 2011

Institution Statistics

The Milford Bank
FDIC Certificate #	16101
BankRate Report	View
Year Established	1872
Employees	93
Primary Regulator	FDIC
Assets and Liabilities
Assets	$371.89 million
Loans	$288.88 million
Deposits	$325.04 million
Equity Capital	$39.78 million
Loan Loss Allowance	$4.00 million
Unbacked Noncurrent Loans	$10.25 million
Real Estate Owned	$1.17 million
Historic Data - September 2010
Assets	$387.26 million
Equity Capital	$37.35 million
Loan Loss Allowance	$5.28 million
Unbacked Noncurrent Loans	$5.21 million
Profit Margin - Quarterly
Net Interest Margin	3.82%
Return on Assets	0.36%
Return on Equity	3.4%
Interest Income	$11.44 million

Institution Health

Overall Score:

3 out of 5

Texas Ratio
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2011 Milford Bank had $11.42 million in non-current loans and owned real-estate with $43.78 million in equity and loan loss allowances on hand to cover it. This gives Milford Bank a Texas Ratio of 26.08% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Milford Bank increased slightly from 12.22% as of September 30, 2010 to 26.08% as of September 30, 2011, resulting in a negative change of 113.34%. This indicates that the balance sheet and financial strength for Milford Bank has declined slightly in recent periods.
Deposit Growth
In the past year, Milford Bank has decreased its total deposits by -$4.86 million, resulting in -1.47% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Milford Bank has shown is below average.
Capitalization
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Milford Bank has $371.89 million in assets with $43.78 million in equity, resulting in a capitalization level of 11.77%, which is above average.

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