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 2,559th 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.

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 - YTD0.2%
Return on Equity - YTD0.7%
Annual Interest Income$8.1MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$269.8MM$255.8MM
LoansQ4 2020vs Q4 2019$182.9MM$200.2MM
DepositsQ4 2020vs Q4 2019$177.5MM$163.7MM
Equity CapitalQ4 2020vs Q4 2019$77.7MM$77.2MM
Loan Loss AllowanceQ4 2020vs Q4 2019$2.1MM$2.4MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$1.3MM$1.3MM
Real Estate OwnedQ4 2020vs Q4 2019$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

0.90%$500-10 Year CD
0.60%$500-7 Year CD
0.40%$500-5 Year CD
0.30%$500-3 Year CD
0.20%$500-2 Year CD
0.15%$500-1 Year CD
0.15%$100k-365 Day Jumbo CD
0.10%$500-91 Day CD
0.10%$500-182 Day CD
0.10%$100k-91 Day Jumbo CD
0.10%$100k-182 Day Jumbo CD

Dearborn Federal Savings Bank IRA Rates

0.90%$250-10 Year IRA
0.60%$250-7 Year IRA
0.40%$250-5 Year IRA
0.30%$250-3 Year IRA
0.20%$100-18 Month Fixed Rate IRA
0.20%$250-2 Year IRA
0.15%$250-1 Year IRA
0.02%$100-18 Month Variable 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 W 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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