Dearborn Federal Savings Bank

Overview / Commentary
22315 W Michigan Ave
Dearborn, MI 48124

Dearborn Federal Savings Bank is headquartered in DEARBORN and is the 52nd largest bank in the state of Michigan. It is also the 2,622nd largest bank in the nation. It was established in 1936 and as of September of 2023, it had grown to 41 employees at 5 locations. Dearborn Federal Savings Bank has an A health rating.

Reviews (2)

Outstanding, Honest, Customer Focused Small Bank

Posted by: |

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.

Poor Customer Service

Posted by: |

Terrible bank. We had perfect credit. Our escrow went up by $15. We are set up on autopay. When we noticed, we called and asked if it was ok to just adjust the autopay and include it in the follow month. They said yes, that would be fine. They then reported it against our credit and refuse to fix the problem. If it was not ok to pay next month, they should have told us that when we asked and we would have gladly paid the $15. Terrible customer service in a bank that is stuck in the 90’s.


Health Grade Components

FDIC Certificate #29874
Year Established1936
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD-0.07%
Return on Equity - YTD-0.24%
Annual Interest Income$6.2MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$267.1MM$270MM
LoansQ3 2023vs Q3 2022$193.3MM$187.5MM
DepositsQ3 2023vs Q3 2022$172.2MM$188.9MM
Equity CapitalQ3 2023vs Q3 2022$78.7MM$77.6MM
Loan Loss AllowanceQ3 2023vs Q3 2022$1.8MM$1.7MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$315K$635K
Real Estate OwnedQ3 2023vs Q3 2022$0$0

Sorry, we do not have rate data for Dearborn Federal Savings Bank.


Dearborn Federal Savings Bank Locations
14615 Ford Rd Branch14615 Ford RoadDearborn, MI 48126
22180 West Outer Drive Branch22180 West Outer DriveDearborn, MI 48124
Dearborn Federal Savings Bank22315 Michigan AveDearborn, MI 48124
27115 West Warren Branch27115 West WarrenDearborn Heights, MI 48127
4111 South Telegraph Branch4111 South TelegraphDearborn Heights, MI 48125

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