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Milford Federal Bank

Milford, MA · Cert 29835

State savings bank · OCC · 4 branches

Q2 2026

$545.1MAssets
$466.1MLoans
$451.5MDeposits
$59.5MEquity
Loan mix
99%RE $458.6M0%C&I $0.0M1%Consumer $5.7MQ2 2025Q2 2026
Deposit mix
91%Interest-bearing $411.5M9%Noninterest $40.0MQ2 2025Q2 2026

NIM

4.06%Q2 ’244.30%Q2 ’254.73%Q2 ’26+8%+11%

Non-interest income vs. expense

2.41%Q2 ’242.51%Q2 ’252.56%Q2 ’26+1%+9%

Market Position · Worcester, MA · 2026 SOD (annual) · 1.7% share · #20 of 26 inst. · $0.4B of $22.5B

1.7% Worcester
0.2% Providence

Executive Summary

  • Earnings: ROA of 0.37%, up 10 bps year over year; NIM at 2.71%.
  • Asset quality: problem loans at 0.40% of loans (+17 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 11.94%, up 72 bps from a year ago.
  • Funding: loans stand at 103.22% of deposits as of Q2 2026.

Financial Results

Return on Assets (quarter, annualized)

0.37%+10 bps YoY

Net Interest Margin (quarter, annualized)

2.71%+27 bps YoY

Efficiency Ratio (quarter, annualized)

83.25%-212 bps YoY

Tier 1 Leverage Ratio

11.94%+72 bps YoY

Discrete quarter, annualized.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.27%0.43%0.47%0.29%0.37%+10 bps
Return on Equity2.47%3.94%4.37%2.67%3.36%+89 bps
Net Interest Margin2.44%2.51%2.47%2.45%2.71%+27 bps
Efficiency Ratio85.37%79.29%81.42%86.38%83.25%-212 bps
Non-Interest Burden2.01%1.88%1.92%2.07%2.20%+19 bps
Growth
Asset Growth (YoY)5.35%6.07%3.24%5.04%3.16%-218 bps
Loan Growth (YoY)6.00%6.62%3.97%2.35%0.51%-549 bps
Deposit Growth (YoY)7.86%13.64%9.58%9.33%11.97%+411 bps
Asset Quality
Nonperforming Loans / Loans0.23%0.39%0.40%0.44%0.40%+17 bps
Net Charge-Offs / Loans0.00%0.01%0.00%0.00%0.00%0 bps
Allowance / Loans0.45%0.44%0.45%0.46%0.46%+1 bps
Allowance Coverage of NPLs1.9x1.1x1.1x1.0x1.1x-0.8x
Capital
Tier 1 Leverage Ratio11.22%11.11%11.05%11.13%11.94%+72 bps
Total Risk-Based Capital11.22%11.11%11.05%11.13%11.94%+72 bps
Equity / Assets10.80%10.81%10.88%10.82%10.92%+12 bps
Liquidity & Funding
Loans / Deposits114.99%112.00%107.71%104.24%103.22%-1,177 bps
Liquid Assets / Assets2.11%2.37%4.31%5.83%5.45%+333 bps
CRE / Total Capitaln/a81.24%72.79%74.29%n/an/a