Comment Detail
Date: 03/17/23 First Name: Susan Last Name: Shields Email: sshields@milfordbank.com Organization Type: other Organization: The Milford Bank Comment
Our membership with the FHLB is critical to the Bank's success. We are active users of their advances, allowing us to actively manage liquidity and on balance sheet risk. As a relatively small financial institution, access to other sources of borrowings is quite limited; we are not a stock bank, but a mutual, limiting our options even further. I cannot overstate how critical the Home Loan Bank is for us. Additionally, we've certainly used other services, but none as critical as our ability to access their advances.
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