Milford Federal Savings and Loan Association in Milford, Massachusetts (MA), RI
Overview, Financial Summary, Detailed Financial Reports, Branches


  • Milford Federal Savings and Loan Association in Milford, Massachusetts (MA), RI
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Milford Federal Savings and Loan Association - Overview

  • General
  • FDIC Certificate #: 29835
    Status: Active
    Federal Reserve ID: 227777
    Date Established: January 01, 1937
    WWW: http://www.milfordfederal.com
    Trust Powers Granted: No
    Bank Charter Class: Savings associations, state or federal charter, supervised by the Office of Thrift Supervision (OTS)
    Offices: 4 (Domestic: 4, Interstate: Yes)
    OTS Docket #: 4167
    FDIC's unique #: 42669
    Numeric code: 38
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Mortgage Lending Specialization
    Date of Deposit Insurance: January 07, 1938
    Last Structure Change Effective Date: July 21, 2011
    Last Structure Change Process Date: July 21, 2011
    Last Data Update: July 21, 2011
    Data Source Date: April 05, 2012
  • Location
  • Address: 246 Main St, Milford, MA 1757
    County: Worcester
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Springfield Ma
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Boston, MA-NH (#1120)
    Consolidated Metropolitan Statistical Area (CMSA): Boston-Worcester-Lawrence, MA-NH-ME-CT (#7)
    Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148)
    Core Based Statistical Area (CBSA): Worcester, MA (#49340)
    CBSA Metro Statistical Area: Worcester, MA (#49340)
  • History of Changes
  • Change in Primary Regulatory Agency
  • Financial Summary
  • Total assets: $343.1 mil
    Equity capital: $38.6 mil
    Deposits held in domestic offices: $301.3 mil
    Return on assets (ROA): 0.30% ($1.0 mil)
    Quarterly return on assets: 0.62% ($2.1 mil)
    Return on Equity (ROE): 2.72% ($1.1 mil)
    Quarterly return on equity: 5.58% ($2.2 mil)
    Net income: $1.0 mil
    Quarterly Net income: $0.5 mil
    Pretax return on assets: 0.47% ($1,612.4 mil)
    Quarterly Pretax return on assets: 1.02% ($3,499.3 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 86Total employees (full-time equivalent)
  • $343,072Total assets
  • $25,245Cash and due from depository institutions
  • $20,260Interest-bearing balances
  • $28,291Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $270,553Net loans & leases
  • $854Loan loss allowance
  • $0Trading account assets
  • $7,204Bank premises and fixed assets
  • $1,022Other real estate owned
  • $3,594Goodwill and other intangibles
  • $343,072Life insurance assets
  • $7,163All other assets
  • $304,423Total liabilities and capital
  • $301,267Total liabilities
  • $288,658Total deposits
  • $301,267Interest-bearing deposits
  • $95Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $776Trading liabilities
  • $0Other borrowed funds
  • $2,380Subordinated debt
  • $38,649All other liabilities
  • $38,649Total equity capital
  • $38,649Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $0Surplus
  • $38,649Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,986Income earned, not collected on loans
  • $0Earning assets
  • $796Long-term assets (5+ years)
  • $319,104Average Assets, year-to-date
  • $0Average Assets, quarterly
  • $344,181Volatile liabilities
  • $346,871Insider loans
  • $174,948FHLB advances
  • $342,599Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $38,176Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $54,727Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $11,798Total interest income
  • $2,355Total interest expense
  • $9,443Net interest income
  • $217Provision for loan and lease losses
  • $3,419Total noninterest income
  • $0Fiduciary activities
  • $1,042Service charges on deposit accounts
  • $0Trading account gains & fees
  • $2,377Additional noninterest income
  • $11,033Total noninterest expense
  • $6,896Salaries and employee benefits
  • $2,291Premises and equipment expense
  • $1,846Additional noninterest expense
  • $1,612Pre-tax net operating income
  • $0Securities gains (losses)
  • $578Applicable income taxes
  • $1,034Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,034Net income attributable to bank
  • $0Net charge-offs
  • $1,034Cash dividends
  • $245Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 3.68%Yield on earning assets
  • 0.73%Cost of funding earning assets
  • 2.95%Net interest margin
  • 1.07%Noninterest income to earning assets
  • 3.44%Noninterest expense to earning assets
  • 0.30%Net operating income to assets
  • 0.30%Return on assets (ROA)
  • 0.47%Pretax return on assets
  • 2.72%Return on equity (ROE)
  • 2.72%Retained earnings to average equity (YTD only)
  • 0.09%Net charge-offs to loans
  • 88.57%Credit loss provision to net charge-offs
  • 7.47%Efficiency ratio
  • 85,780Assets per employee
  • 3.99%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.31%Loss allowance to noncurrent loans
  • 43.00%Noncurrent assets plus other real estate owned to assets
  • 0.88%Noncurrent loans to loans
  • 0.73%Net loans and leases to deposits
  • 89.81%Net loans and leases to core deposits
  • 91.55%Equity capital to assets
  • 11.27%Core capital (leverage) ratio
  • 11.14%Tier 1 risk-based capital ratio
  • 21.82%Total risk-based capital ratio
  • Memoranda
  • $22Average assets
  • $344,181Average earning assets
  • $37,974Average equity
  • $320,570Average loans

List of branches

  • 3 Massachusetts Branches as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    042669Milford Federal Savings And Loan Ass246 Main St, Milford, MA 1757January 01, 1937Full Service Brick and Mortar
    1277411Route 109 Plaza Branch91 Medway Road, Milford, MA 1757January 01, 1937Full Service Brick and Mortar
    102495978Whitinsville Branch1271 Providence Road, Whitinsville, MA 1588June 30, 2002Full Service Brick and Mortar
  • 1 Rhode Island Branch as of April 05, 2012
    • NoIDNameAddressEstablishedService TypeMap
    101277413Woonsocket Branch1950 Diamond Hill Road, Woonsocket, RI 2895June 01, 1994Full Service Brick and Mortar

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