Liberty Bank is headquartered in Middletown and is the 2nd largest bank in the state of Connecticut. It is also the 195th largest bank in the nation. It was established in 1825 and as of June of 2022, it had grown to 689 employees at 53 locations. Liberty Bank has an A+ health rating.
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Great bank!
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.
Best Small "Big" Bank Ever!
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.
Don't Bother With Online Site
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.
Hidden Fees And Gotchas
This bank is just like the big banks. They will look for any excuse to charge you fees. Particularly the famous monthly fee for paper statements.
Hey Liberty Bank, if your intention was to charge me fees for paper statements, I certainly wish you would have let me know when I opened them.
Congratulations Liberty, you are just as sleazy as the Wells Fargos of the banking world. Maybe you should merge with them
Data as of Q2 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 17943 |
| Year Established | 1825 |
| Employees | 689 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -0.3% |
| Return on Equity - YTD | -2.45% |
| Annual Interest Income | $94.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $7.36B$7.29B |
| Loans | Q2 2022vs Q2 2021 | $4.56B$4.12B |
| Deposits | Q2 2022vs Q2 2021 | $6.12B$5.90B |
| Equity Capital | Q2 2022vs Q2 2021 | $875.6MM$887.5MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $68.6MM$84.0MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $11.5MM$17.5MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $0$86.00K |
