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Liberty Bank


Overview / Commentary
www.liberty-bank.com
860-344-7253
315 Main Street
Middletown, CT 06457

Liberty Bank is headquartered in Middletown and is the 3rd largest bank in the state of Connecticut. It is also the 196th largest bank in the nation. It was established in 1825 and as of September of 2021, it had grown to 683 employees at 59 locations. Liberty Bank has an A+ health rating.

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Reviews (9)

Great bank!

Posted by: |

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.

1

Best Small "Big" Bank Ever!

Posted by: |

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.

1

Don't Bother With Online Site

Posted by: |

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.

3

Trusted Friend

Posted by: |

This was my first ever bank when I started working in the dinosaur age. I have never left this bank for another. I have my savings, checking, and home equity (for tuition of children) accounts housed here. The tellers and administrators are all on a first name basis with me and really care about my financial well being. I would like to say that they are willing to help with problems but there are no problems that have occurred. Interest rates on savings are competitive, check fees are non-existent, new products are introduced and explained if tellers think these products would work for my household.
Recently a teller discovered that my deceased mother's name (that happens to be the same as one of my children's name) was popping up when said child was opening an account. Promptly, we resolved the problem and I was grateful that the teller caught the error. This is a local bank with branches throughout the state but they are my bank and deserve my thanks for having full trust in this institution.

1
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Health
A+

Data as of Q3 2021

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #17943
Year Established1825
Employees683
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.98%
Return on Equity - YTD8.1%
Annual Interest Income$139.9MM
Assets and Liabilities
AssetsQ3 2021vs Q3 2020$7.38B$6.82B
LoansQ3 2021vs Q3 2020$4.03B$4.59B
DepositsQ3 2021vs Q3 2020$5.98B$5.46B
Equity CapitalQ3 2021vs Q3 2020$900.2MM$824.6MM
Loan Loss AllowanceQ3 2021vs Q3 2020$80.1MM$64.5MM
Unbacked Noncurrent LoansQ3 2021vs Q3 2020$14.5MM$18.4MM
Real Estate OwnedQ3 2021vs Q3 2020$86.00K$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Liberty Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Liberty Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%*$5k*-Health Savings Account
OTHER TIERS: 0.10% → Up to $2.5k | 0.20% → $2.5k - $5k
0.25%*$25k*-Cinch Business Savings
OTHER TIERS: 0.05% → Up to $10k | 0.10% → $10k - $25k
0.15%*$75k*-Savings Overdraft Protection
OTHER TIERS: 0.05% → Up to $25k | 0.10% → $25k - $75k
0.15%*$75k*-Business Savings Overdraft
OTHER TIERS: 0.05% → Up to $25k | 0.10% → $25k - $75k
0.15%*$50k*-Club Savings
OTHER TIERS: 0.05% → Up to $25k | 0.10% → $25k - $50k
0.10%*$25k*-Cinch Savings
OTHER TIERS: 0.05% → Up to $25k
0.10%*-$100kCelebration Savings - New Money
OTHER TIERS: 0.05% → $100k+

Liberty Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%*$200k*$500kMoney Maker
OTHER TIERS: 0.05% → Up to $50k | 0.10% → $50k - $150k | 0.15% → $150k - $200k
0.20%*$50k*-Business Money Maker Account
OTHER TIERS: 0.05% → Up to $25k | 0.10% → $25k - $50k
0.20%*-$250kBusiness Max Money Market - New Money
OTHER TIERS: 0.15% → $250k+
0.15%*$500k*-Municipal Money Market Preferred
OTHER TIERS: 0.05% → $25k - $100k | 0.10% → $100k - $500k

Liberty Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$5k-High Rate Checking

Liberty Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.45%$500-5 Year CD
0.40%$500-4 Year CD
0.30%$500-3 Year CD
0.20%$500-2 Year CD
0.15%$500-1 Year CD
0.15%$5k-Business 1 Year CD
0.10%$500-3 Month CD
0.10%$500-6 Month CD
0.10%$500-Business 3 Month CD
0.10%$5k-Business 6 Month CD
0.10%$500-32 Day CD

Liberty Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.45%$500-5 Year IRA
0.40%$500-4 Year IRA
0.30%$500-3 Year IRA
0.20%$500-2 Year IRA
0.15%$500-1 Year IRA
0.10%$500-3 Month IRA
0.10%$500-6 Month IRA
0.10%$500-32 Day IRA
Locations

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