Liberty Bank

Overview / Commentary
315 Main Street
Middletown, CT 06457

Liberty Bank is headquartered in MIDDLETOWN and is the 2nd largest bank in the state of Connecticut. It is also the 204th largest bank in the nation. It was established in 1825 and as of September of 2023, it had grown to 797 employees at 53 locations. Liberty Bank's money market rates are 8X the national average, and it has a B+ health rating.

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

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.

After 60 Years..I Say STAY AWAY From This Bank

Posted by: |

Liberty Bank contacted ME (again they contacted ME) that there might be some fraudulent charges on our debit card. We checked and there were totaling about $160. One was for a raffle for cookware another from a gym membership and another for a VPN account. The next day we went to the bank and cancelled the card and got a replacement. They bank could not do anything with the transactions at the time because they were "Pending" We left the next day for vacation and returned a week later and went to the bank to fill out the fraudulent claim paperwork. Approximately 10 days later we received letters saying they were valid transactions. We then called Liberty and they said they would send us the docs involved in them calling valid transactions. Never got them. Called again and basically told them "why would come to bank the next day, cancel my card, get a new one, then the same day we get back from vacation go to the bank to fill out paperwork. For my health? So Liberty Bank is relying on some fraudulent data they got instead of an life long customer. Unfortunately Liberty is the only bank in my town and if there was one called Joe's Bank or Not safe Bank I would pull my accounts in a minute. All the good this bank fid for me over the past 50 years went away when they believe some fraudulent person and not a life long customer. Stay Away if you want to keep your money safe.



Health Grade Components

FDIC Certificate #17943
Year Established1825
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.45%
Return on Equity - YTD10.92%
Annual Interest Income$240MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$7.44B$7.29B
LoansQ3 2023vs Q3 2022$5.48B$4.76B
DepositsQ3 2023vs Q3 2022$5.88B$6.16B
Equity CapitalQ3 2023vs Q3 2022$974.7MM$869.9MM
Loan Loss AllowanceQ3 2023vs Q3 2022$88.1MM$70.9MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$50.9MM$11.8MM
Real Estate OwnedQ3 2023vs Q3 2022$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Liberty Bank Savings Account Rates

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

Liberty Bank Money Market Rates

5.25%*$1m*-Business Money Market Special
OTHER TIERS: 3.50% Up to $50k | 4.25% $50k - $250k | 5.01% $250k - $1m
3.50%--Money Market Special
0.35%*-$250kBusiness Max Money Market - New Money
OTHER TIERS: 0.15% $250k+
0.30%*$200k*$500kMoney Maker
OTHER TIERS: 0.05% Up to $50k | 0.20% $50k - $150k | 0.25% $150k - $200k
0.30%*$50k*-Business Money Maker Account
OTHER TIERS: 0.05% Up to $25k | 0.10% $25k - $50k

Liberty Bank CD Rates

5.35%$500-3 Month CD
5.35%$500-Business 3 Month CD
5.20%$500-6 Month CD
5.20%$5k-Business 6 Month CD
5.01%$500$250k9 Month CD Special
4.00%$500-6 Month HSA CD
4.00%$500-1 Year HSA CD
1.45%$500-5 Year CD
1.35%$500-4 Year CD
1.25%$500-3 Year CD
1.05%$500-2 Year CD
1.00%$500-1 Year CD
1.00%$5k-Business 1 Year CD
0.75%$500-32 Day CD


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