Liberty Bank

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Liberty Bank is the oldest mutual savings bank,[1] and third largest bank in Connecticut.[2]

Established in 1825 as Middletown Savings Bank,[2][3] and headquartered in Middletown, Connecticut, Liberty Bank has 50 banking offices throughout the state.[4] Liberty Bank offers consumer and commercial banking, home mortgages, insurance, and investment services.

History[edit]

In 1844, an account was opened with a balance of $26, and left untouched for 150 years until it was finally closed in 1994, by which time it was the oldest direct descendancy savings account in the United States and had grown to over $32,000 on interest alone.[3]

The Liberty Bank Foundation was established in 1997 to provide grants to non-profit organizations which improve the quality of life for people of low or moderate income.[1]

In 2001, Liberty Bank merged with Hometown Bank,[5] gaining their three offices, and added another new branch. In 2003, Liberty Bank broke ground on its first affordable housing complex: Uncas Condominiums,[2] in Norwich, and opened another office, bringing the total number of branches to 34. In 2005, Liberty Bank introduced the state’s first checking account to offer rebates of other banks' ATM surcharges. Liberty Bank added a branch in Wethersfield in 2008, one in Niantic in 2009, and relocated its Cromwell branch in 2010.

In 2013, Liberty Bank merged with The Bank of Southern Connecticut, and thus gained four more branches: two in New Haven, one in Branford and one in North Haven (which merged with their existing North Haven branch). They also opened Bristol and Southington in 2013, bringing the total to 50 branches.[6]

References[edit]

  1. ^ a b Cooley, Kathy (February 20, 2013). "Liberty Bank Foundation Donates $2,500 To Friendship Service Center Of New Britain". Hartford Courant. Retrieved June 2, 2013. 
  2. ^ a b c Liberty Bank. "About Us: History". Accessed: Aug 26, 2010.
  3. ^ a b Story, Louise (June 1, 2000). "A Long History to Bank on". Hartford Courant. Retrieved June 2, 2013. 
  4. ^ Liberty Bank. "Locations". Accessed: 19 Sept 2011.
  5. ^ "Liberty Bank To Acquire Bank". Hartford Courant. January 23, 2001. Retrieved June 19, 2013. 
  6. ^ Howard, Lee (January 19, 2013). "Liberty Bank in $11M Merger Deal". The New London Day. Retrieved June 19, 2013. 

External links[edit]