The Milford Bank in Milford, Connecticut (CT)
Overview, Financial Summary, Detailed Financial Reports, Branches


  • The Milford Bank in Milford, Connecticut (CT)
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The Milford Bank - Overview

  • General
  • FDIC Certificate #: 16101
    Status: Active
    Federal Reserve ID: 258306
    Date Established: January 01, 1872
    WWW: http://www.milfordbank.com
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 9 (Domestic: 9, Interstate: No)
    OTS Docket #: 7458
    FDIC's unique #: 10318
    Numeric code: 42
    Regulator: FDIC
    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: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: November 17, 1943
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 33 Broad Street, Milford, CT 6460
    County: New Haven
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: Hartford
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Bridgeport, CT (#1160)
    Consolidated Metropolitan Statistical Area (CMSA): New York-Northern New Jersey-Long Island, NY-NJ-CT-PA (#70)
    Combined Statistical Area (CSA): New York-Newark-Bridgeport, NY-NJ-CT-PA (#408)
    Core Based Statistical Area (CBSA): New Haven-Milford, CT (#35300)
    CBSA Metro Statistical Area: New Haven-Milford, CT (#35300)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $371.8 mil
    Equity capital: $39.2 mil
    Deposits held in domestic offices: $326.3 mil
    Return on assets (ROA): 0.39% ($1.5 mil)
    Quarterly return on assets: 0.48% ($1.8 mil)
    Return on Equity (ROE): 3.68% ($1.4 mil)
    Quarterly return on equity: 4.48% ($1.7 mil)
    Net income: $1.4 mil
    Quarterly Net income: $0.4 mil
    Pretax return on assets: 0.54% ($2,007.5 mil)
    Quarterly Pretax return on assets: 0.68% ($2,528.0 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
  • 97Total employees (full-time equivalent)
  • $371,765Total assets
  • $22,191Cash and due from depository institutions
  • $13,915Interest-bearing balances
  • $28,916Securities
  • $10Federal funds sold & reverse repurchase agreements
  • $291,182Net loans & leases
  • $3,843Loan loss allowance
  • $0Trading account assets
  • $7,407Bank premises and fixed assets
  • $3,048Other real estate owned
  • $720Goodwill and other intangibles
  • $371,765Life insurance assets
  • $18,291All other assets
  • $332,524Total liabilities and capital
  • $326,348Total liabilities
  • $282,588Total deposits
  • $326,348Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $450Trading liabilities
  • $0Other borrowed funds
  • $5,726Subordinated debt
  • $39,241All other liabilities
  • $39,241Total equity capital
  • $39,241Total bank equity capital
  • $0Perpetual preferred stock
  • $0Common stock
  • $3,888Surplus
  • $35,353Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $435Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $7,876Income earned, not collected on loans
  • $0Earning assets
  • $1,176Long-term assets (5+ years)
  • $334,023Average Assets, year-to-date
  • $155,359Average Assets, quarterly
  • $372,879Volatile liabilities
  • $371,828Insider loans
  • $261,615FHLB advances
  • $375,864Loans and leases held for sale
  • $9,796Unused loan commitments
  • $5,369Tier 1 (core) risk-based capital
  • $40,879Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $4,427Total unused commitments
  • $33,182Restructured Loans and leases
  • $269Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $15,233Total interest income
  • $2,327Total interest expense
  • $12,906Net interest income
  • $332Provision for loan and lease losses
  • $2,379Total noninterest income
  • $0Fiduciary activities
  • $673Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,706Additional noninterest income
  • $12,977Total noninterest expense
  • $6,926Salaries and employee benefits
  • $1,937Premises and equipment expense
  • $4,114Additional noninterest expense
  • $1,976Pre-tax net operating income
  • $46Securities gains (losses)
  • $577Applicable income taxes
  • $1,445Income before extraordinary items
  • $0Extraordinary gains - net
  • $1,445Net income attributable to bank
  • $0Net charge-offs
  • $1,445Cash dividends
  • $1,127Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.53%Yield on earning assets
  • 0.69%Cost of funding earning assets
  • 3.84%Net interest margin
  • 0.71%Noninterest income to earning assets
  • 3.86%Noninterest expense to earning assets
  • 0.38%Net operating income to assets
  • 0.39%Return on assets (ROA)
  • 0.54%Pretax return on assets
  • 3.68%Return on equity (ROE)
  • 3.68%Retained earnings to average equity (YTD only)
  • 0.38%Net charge-offs to loans
  • 29.46%Credit loss provision to net charge-offs
  • 2.05%Efficiency ratio
  • 84,900Assets per employee
  • 3.83%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.30%Loss allowance to noncurrent loans
  • 48.79%Noncurrent assets plus other real estate owned to assets
  • 2.94%Noncurrent loans to loans
  • 2.67%Net loans and leases to deposits
  • 89.22%Net loans and leases to core deposits
  • 91.95%Equity capital to assets
  • 10.56%Core capital (leverage) ratio
  • 10.88%Tier 1 risk-based capital ratio
  • 15.63%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $372,879Average earning assets
  • $39,260Average equity
  • $336,033Average loans

List of branches

  • 9 Connecticut Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    010318The Milford Bank33 Broad Street, Milford, CT 6460January 01, 1872Full Service Brick and Mortar
    1237275Woodmont Branch259 Merwin Avenue, Milford, CT 6460June 23, 1979Full Service Brick and Mortar
    2237276Devon Branch205 Bridgeport Avenue, Milford, CT 6460April 18, 1990Full Service Brick and Mortar
    3237277Depot Street Branch9 Depot Street, Milford, CT 6460April 21, 1997Limited Service Administrative
    4366072Boston Post Road Branch1455 Boston Post Road, Milford, CT 6460January 15, 2003Full Service Brick and Mortar
    5452986New Haven Lpo Branch142 Temple Street-Suite 306, New Haven, CT 6510September 12, 2005Limited Service Administrative
    6466135Stratford Branch2366 Main Street, Stratford, CT 6615March 19, 2007Full Service Brick and Mortar
    7509269295 Boston Post Road Branch295 Boston Post Road, Milford, CT 6460May 21, 2010Full Service Brick and Mortar
    8526219Barnum Avenue Stratford Branch250 Barnum Avenue, Stratford, CT 6614October 05, 2011Full Service Retail

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