Dearborn Federal Savings Bank

Overview / Commentary
22315 W Michigan Ave
Dearborn, MI 48124

Dearborn Federal Savings Bank is headquartered in Dearborn and is the 53rd largest bank in the state of Michigan. It is also the 2,614th largest bank in the nation. It was established in 1936 and as of June of 2022, it had grown to 42 employees at 5 locations. Dearborn Federal Savings Bank has an A health rating.

Reviews (1)

Outstanding, Honest, Customer Focused Small Bank

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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.


Health Grade Components

FDIC Certificate #29874
Year Established1936
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD-0.04%
Return on Equity - YTD-0.13%
Annual Interest Income$3.4MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$274.4MM$283.7MM
LoansQ2 2022vs Q2 2021$184.7MM$187.3MM
DepositsQ2 2022vs Q2 2021$191.1MM$191.8MM
Equity CapitalQ2 2022vs Q2 2021$77.7MM$77.8MM
Loan Loss AllowanceQ2 2022vs Q2 2021$1.8MM$2.0MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$534.00K$1.1MM
Real Estate OwnedQ2 2022vs Q2 2021$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Dearborn Federal Savings Bank Savings Account Rates

0.10%$200-Passbook Savings
0.10%$200-Statement Savings

Dearborn Federal Savings Bank Checking Account Rates

0.10%*$10k*-Insured E-Z Access Fund
OTHER TIERS: 0.05% $400 - $10k
0.05%$400-Regular Checking

Dearborn Federal Savings Bank CD Rates

1.10%$500-10 Year CD
0.80%$500-7 Year CD
0.65%$500-5 Year CD
0.55%$500-3 Year CD
0.45%$500-2 Year CD
0.35%$500-1 Year CD
0.35%$100k-365 Day Jumbo CD
0.20%$500-182 Day CD
0.20%$100k-182 Day Jumbo CD
0.15%$500-91 Day CD
0.15%$100k-91 Day Jumbo CD

Dearborn Federal Savings Bank IRA Rates

2.64%$100-18 Month Variable Rate IRA
1.10%$250-10 Year IRA
0.80%$250-7 Year IRA
0.65%$250-5 Year IRA
0.55%$250-3 Year IRA
0.45%$250-2 Year IRA
0.35%$250-1 Year IRA
0.25%$100-18 Month Fixed Rate IRA

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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