Liberty Bank is headquartered in Middletown and is the 4th largest bank in the state of Connecticut. It is also the 223rd largest bank in the nation. It was established in 1825 and as of March of 2018, it had grown to 683 employees at 55 locations. Liberty Bank has an A health rating.
Liberty Bank is a great bank. The best thing about them is that they don't charge ATM fees and also they reimburse the ATM fees of other banks. There is also no monthly fee if you go paperless. They send instructions if you have transactions with a company who has been breached and have sometimes automatically sent new debit cards in these circumstances. Their in bank customer service is most excellent. They have convenient branches and the ATMs feel like they are in safe locations. I have used them exclusively for over ten years and I have no intention of switching of changing. I don't have credit cards or loans so I can't speak to those products personally. I have never heard anything bad about them from anybody else. They did once have an employee steal but they were very open about that.
I have been a customer at Liberty Bank since I started working in my 20's. That relationship spans a time period of over 30 years. I have expanded my transactions at this bank to include checking, CD's, home equity loans, personal loans, and have included my expanded family with this institution. The services that they offer are extremely competitive with the larger banks and credit unions in the area. Their services are also all inclusive and I have never had to go outside their institution to find a service that I have needed. The tellers and loan officers are more like family than business associates. They are aware of my growing family and even provided my daughter with her first college debit/credit card with no hassle. One teller also caught an error that had a deceased relative still as an active co-signer on an account and provided the necessary information that I needed to correct the situation. They recognize me by name, ask about my family, and offer great suggestions to whatever questions or problems that I have encountered. I continually receive offers from other banks thru the mail but I just rip up the mail and continue having confidence and trust in the Liberty Bank institution. Opps, forgot, they have branches throughout the area in which I live, so add convenience to all the other complements.
Liberty had a first class online banking site and a usable mobile app. They recently went to an "improved" system that doesn't have the functionallity you expect. Fore example:
You cannot see a list of unpaid ebills. If you do pay one, the site doesn't "mark it paid" like it used to.
We expect to migrate to another bank is the old system is not put back in place.
We have been a significant customer for 30 years and it is sad to see a great bank fail so badly.
The worst bank I've ever had the misfortune of doing business with. They cards don't work in the ATM half the time, even in their own ATM, so I can't access my money. They don't support Apple of Android Pay even though they've been promising it for like 3 years. Their support staff is rude and unhelpful, they get offended when I say I have a problem and hang up on me instead of helping. Never dealt with a worse bank ever.
|FDIC Certificate #||17943|
|Return on Assets - YTD||1%|
|Return on Equity - YTD||6.68%|
|Annual Interest Income||$41.2MM|
|Assets and Liabilities|
|Assets||Q1 2018vs Q1 2017||$4.74B$4.67B|
|Loans||Q1 2018vs Q1 2017||$3.55B$3.52B|
|Deposits||Q1 2018vs Q1 2017||$3.57B$3.57B|
|Equity Capital||Q1 2018vs Q1 2017||$715.8MM$665.4MM|
|Loan Loss Allowance||Q1 2018vs Q1 2017||$33.9MM$34.9MM|
|Unbacked Noncurrent Loans||Q1 2018vs Q1 2017||$12.9MM$18.3MM|
|Real Estate Owned||Q1 2018vs Q1 2017||$243.00K$112.00K|
Rates for Liberty Bank are currently being reviewed.