Dearborn Federal Savings Bank is headquartered in Dearborn and is the 53rd largest bank in the state of Michigan. It is also the 2,559th largest bank in the nation. It was established in 1936 and as of December of 2020, it had grown to 44 employees at 5 locations. Dearborn Federal Savings Bank has an A+ health rating.
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.
Overall | |
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FDIC Certificate # | 29874 |
Year Established | 1936 |
Employees | 44 |
Primary Regulator | OCC |
Profit Margin | |
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Return on Assets - YTD | 0.2% |
Return on Equity - YTD | 0.7% |
Annual Interest Income | $8.1MM |
Assets and Liabilities | ||
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Assets | Q4 2020vs Q4 2019 | $269.8MM$255.8MM |
Loans | Q4 2020vs Q4 2019 | $182.9MM$200.2MM |
Deposits | Q4 2020vs Q4 2019 | $177.5MM$163.7MM |
Equity Capital | Q4 2020vs Q4 2019 | $77.7MM$77.2MM |
Loan Loss Allowance | Q4 2020vs Q4 2019 | $2.1MM$2.4MM |
Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $1.3MM$1.3MM |
Real Estate Owned | Q4 2020vs Q4 2019 | $0$0 |
Always verify rates and promotions with the bank or credit union. We are not Dearborn Federal Savings Bank; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
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0.10% | $200 | - | Passbook Savings | |
0.10% | $200 | - | Statement Savings |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
0.10%* | $10k* | - | Insured E-Z Access Fund | ||
OTHER TIERS: 0.05% → $400 - $10k | |||||
0.05% | $400 | - | Regular Checking |
Dearborn Federal Savings Bank Locations | ||
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14615 Ford Rd Branch | 14615 Ford Road | Dearborn, MI 48126 |
22180 West Outer Drive Branch | 22180 West Outer Drive | Dearborn, MI 48124 |
Dearborn Federal Savings Bank | 22315 W Michigan Ave | Dearborn, MI 48124 |
27115 West Warren Branch | 27115 West Warren | Dearborn Heights, MI 48127 |
4111 South Telegraph Branch | 4111 South Telegraph | Dearborn Heights, MI 48125 |