Dearborn Federal Savings Bank is headquartered in Dearborn and is the 52nd largest bank in the state of Michigan. It is also the 2,471st largest bank in the nation. It was established in 1936 and as of September of 2019, it had grown to 42 employees at 5 locations. Dearborn Federal Savings Bank's CD rates are 33% higher than the national average, and it has an A health rating.
Outstanding, Honest, Customer Focused Small Bank
While this small bank in Dearborn has been around since 1936, many have not heard of it. We just purchased our house through Dearborn Federal Savings, and our interest rate was 80 basis points lower than the second best rate. Their application fees were minimal. Our MBA prepared loan officer twice drove from Dearborn to Ann Arbor (about 50 miles each way) to review paperwork with us, so we wouldn't have to make the drive. While their savings and CD rates are not competitive, I highly recommend this bank for all other services, especially mortgages given their low fees, excellent customer service, outstanding financial help, longevity, and being a bank that is small enough to care about their customers.
Data as of Q3 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 29874 |
| Year Established | 1936 |
| Employees | 42 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.5% |
| Return on Equity - YTD | 1.72% |
| Annual Interest Income | $6.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2019vs Q3 2018 | $255.1MM$263.8MM |
| Loans | Q3 2019vs Q3 2018 | $198.9MM$198.5MM |
| Deposits | Q3 2019vs Q3 2018 | $161.2MM$174.4MM |
| Equity Capital | Q3 2019vs Q3 2018 | $77.0MM$75.7MM |
| Loan Loss Allowance | Q3 2019vs Q3 2018 | $2.4MM$2.4MM |
| Unbacked Noncurrent Loans | Q3 2019vs Q3 2018 | $695.00K$979.00K |
| Real Estate Owned | Q3 2019vs Q3 2018 | $0$0 |