The Milford Bank

What The Milford Bank does

The Milford Bank is a privately held, FDIC-insured community bank founded in 1872, headquartered in Milford, Connecticut, and operating seven branches across Milford and Stratford. It provides retail and small-business banking products — personal and business checking, savings, money market, and CDs, individual retirement accounts, mortgages and home equity loans, personal and commercial loans, and merchant services — to consumers, small-to-medium-sized businesses, nonprofit organizations, and condo associations in its defined Connecticut market. Distribution combines physical branches with a Fiserv-powered digital banking stack: a mobile banking application, a personal and business online banking platform, Zelle for P2P payments, and Clover POS for merchant processing, supplemented by the Allpoint ATM network for surcharge-free access to 55,000+ ATMs globally and telephone banking. The bank also offers insurance and investment services through TMB Insurance Services and TMB Financial Solutions via a partnership with Infinex Investments, Inc., plus the Candidly student loan management platform.

Revenue is generated primarily through net interest income on the lending book (mortgages, home equity, business, personal loans), deposit account and service fees on personal and business checking, savings, and CDs, transaction fees from Clover merchant payment processing, and licensing-style revenue from investment and insurance products distributed under the TMB sub-brands via Infinex. Customer acquisition is direct-to-consumer through the branch network, supplemented by community-event sponsorships (Milford Moves 5K, Green Fair, Winter Wonderland, Shred and Recycle), content marketing via a financial-education blog, organic social media (Facebook, Twitter, LinkedIn, Instagram), and a monthly customer email newsletter. The bank's strategic posture is relationship-led local banking, with deposits explicitly reinvested in the surrounding community.

Name

The Milford Bank

Legal name

The Milford Bank

Website

https://milfordbank.com

Company type

Private

Founded year

1872

Operating status

Operating

Headcount range

101–250 employees

Short description

The Milford Bank is a privately held Connecticut community bank founded in 1872, operating seven branches in Milford and Stratford. It provides FDIC-insured personal and business deposit accounts, mortgages, loans, merchant services, and Fiserv-powered digital banking to consumers, small businesses, and nonprofit organizations.

Ownership category

akta.pro rank

Headquarters

HQ city

Milford

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income from Lending: Primary revenue from interest earned on loans including mortgages, home equity loans, business loans, and personal loans
2. Deposit Account Fees: Fees from personal and business checking, savings, and CD accounts
3. Merchant Services: Revenue from Clover point-of-sale systems and payment processing services for business customers
4. Investment Services: Investment and insurance products offered through Infinex Investments, Inc., a third-party provider. TMB Financial Solutions is a trade name of The Milford Bank for these services

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

The Milford Bank is a community bank offering personal and business deposit accounts (checking, savings, CDs, IRAs), mortgage origination and home equity lending, consumer and commercial loans, and merchant services via Clover POS. Digital banking is delivered through Fiserv-powered mobile and online platforms with Zelle P2P payments, while investment and insurance products are offered through TMB Financial Solutions in partnership with Infinex Investments.

Product overview

The Milford Bank is a community bank offering a comprehensive suite of banking products and services. The core offering includes personal and business deposit accounts (checking, savings, CDs, IRAs), mortgage and loan products, and digital banking platforms. The bank's digital banking ecosystem comprises Mobile Banking and Online Banking as the primary access channels, supplemented by value-added services including Notifi (alerts), Card Valet (card management), Credit Sense (credit monitoring), and Zelle (P2P payments). For business customers, Merchant Services powered by Clover POS enables payment processing. Additional services include TMB Insurance Services, TMB Financial Solutions (investment services through Infinex), and Candidly (student loan management). The bank operates physical branches in Milford and Stratford, Connecticut, combined with extensive digital services.

Differentiator

Problem solved

Functional benefit

Brands

• TMB Insurance Services: Insurance services offered through The Milford Bank
• TMB Financial Solutions

Products and services

• Personal Checking
• Savings Accounts and CDs
• IRAs
• Mortgage Services
• Home Equity Loans and Credit Lines
• Personal Loans
• Business Loans
• Business Deposit Accounts
• Merchant Services
• Mobile Banking
• Online Banking
• TMB Financial Solutions
• TMB Insurance Services

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature5 records

Partnerships

Four partnerships are on record, tiered core and minor.

• FiservcoreTechnology or IntegrationFiserv provides the core technology platform powering The Milford Bank's mobile banking app and Clover merchant services point-of-sale systems. The Fiserv-powered mobile app enables real-time balances, money management, transactions, transfers, bill payment, check deposits, and card management.
• AllpointcoreTechnology or IntegrationAllpoint is a global ATM network providing The Milford Bank customers surcharge-free access to over 55,000 ATMs worldwide. This partnership enhances the bank's digital banking offering with convenient fee-free cash access.
• CandidlyminorStrategic or Co-development PartnerCandidly is a student loan management platform partnered with The Milford Bank to help customers manage and pay off student debt. Offers tools for reassessing repayment plans, refinancing, round-up payments, and giveback rewards for online shopping.
• Infinex Investments, Inc.coreChannel Partner/ Reseller/ DistributorInfinex provides investment and insurance products and services offered through TMB Financial Solutions, a trade name of The Milford Bank. Services include retirement planning, IRAs, annuities, and investment management through Infinex's broker-dealer platform.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Webster Bank: Connecticut-headquartered regional bank with substantial CT branch network offering consumer, commercial, and mortgage banking. Larger scale competitor in the same geography.
• Citizens Bank: Major regional bank with strong New England presence including Connecticut, offering full consumer, business, and mortgage banking. Direct competitor for many of the same customers Milford serves.
• TD Bank: Large regional bank with deep Connecticut branch presence and full suite of consumer/business banking products. Competes with Milford for CT consumer and SMB relationships, though with vastly greater scale.
• Berkshire Bank: New England-focused community bank with broader regional footprint and similar retail/commercial/mortgage product mix. Larger scale but operates on the same community banking playbook.

Direct peers

• Thomaston Savings Bank: Connecticut mutual savings bank offering personal and business banking, mortgages, and investment services with strong community involvement. Closely matches Milford's size, structure, and product offering.
• Essex Savings Bank: Connecticut community savings bank founded 1851, offering deposit, lending, and wealth management services with a focus on personalized service. Strongly comparable in longevity, scale, and CT community banking focus.
• Liberty Bank: Connecticut-headquartered community bank with similar branch-based retail and business banking model, mutual holding structure, and local community focus. Directly comparable as a CT-based community bank serving overlapping demographics.
• Naugatuck Valley Savings and Loan: Connecticut mutual savings institution with personal and business banking, mortgages, and digital services. Highly comparable community bank serving a similar CT market profile.
• Chelsea Groton Bank: Connecticut community bank (chartered 1854) offering personal, business, and mortgage banking with a community focus. Highly comparable as a CT-headquartered community bank of similar scale and service mix.
• First County Bank: CT-based mutual savings bank serving Stamford, Norwalk, Darien and surrounding Fairfield County with personal, business, and mortgage services. Comparable footprint and community banking model to Milford.

Market position

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/themilfordbank
• Facebookfacebook.com/TheMilfordBank
• LinkedInlinkedin.com/company/the-milford-bank
• Instagraminstagram.com/themilfordbank

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Milford Bank