Liberty Bank is the oldest

mutual savings bank A mutual savings bank is a financial institution chartered by a central or regional government, without capital stock, owned by its members who subscribe to a common fund. From this fund, claims, loans, etc., are paid. Profits after deductions ...

in the

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

, as well as the third largest

bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

Connecticut Connecticut ( ) is a U.S. state, state in the New England region of the Northeastern United States. It borders Rhode Island to the east, Massachusetts to the north, New York (state), New York to the west, and Long Island Sound to the south. ...

. Liberty Bank is headquartered in

Middletown, Connecticut Middletown is a city in Middlesex County, Connecticut, United States. Located along the Connecticut River, in the central part of the state, 16 miles (25.749504 km) south of Hartford, Connecticut, Hartford. Middletown is the largest city in the L ...

and has 62 banking offices throughout the state, and one in western Massachusetts.Liberty Bank.
"About Us"
Accessed 3 November 2021. Liberty Bank offers consumer and

commercial bank A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...

ing, home

mortgages A mortgage loan or simply mortgage (), in civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any pur ...

, insurance, and investment services.

History

Established in 1825 as Middletown Savings Bank,Liberty Bank
"About Us: History"
Accessed: Aug 26, 2010. 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 that time it was the oldest direct descendancy savings account in the United States and had grown to over $32,000 on interest alone. 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. In 2001, Liberty Bank merged with Hometown Bank, gaining their three offices, and added another new branch. In 2003, Liberty Bank broke ground on its first affordable housing complex: Uncas Condominiums, in

Norwich Norwich () is a cathedral city and district of the county of Norfolk, England, of which it is the county town. It lies by the River Wensum, about north-east of London, north of Ipswich and east of Peterborough. The population of the Norwich ...

. The company then 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 Niantic may refer to: * Niantic people, tribe of American Indians * Niantic, Inc., mobile app developer known for the mobile games ''Ingress'' and ''Pokémon Go'' * Niantic Correctional Institution, now known as York Correctional Institution ...

in 2009, and relocated its Cromwell branch in 2010 and First Liberty Bank part of Liberty Bank. 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 Bristol () is a City status in the United Kingdom, cathedral city, unitary authority area and ceremonial county in South West England, the most populous city in the region. Built around the River Avon, Bristol, River Avon, it is bordered by t ...

and Southington in 2013, bringing the total to 50 branches. In 2021, it had $7.4 billion in assets, and an annual net income of $81.2 million.
(Liberty Bank) (2021) Retrieved January 31, 2023. On March 4, 2019, ''

The Hartford Courant The ''Hartford Courant'' is the largest daily newspaper in the U.S. state of Connecticut, and is advertised as the oldest continuously published newspaper in the United States. A morning newspaper serving most of the state north of New Haven an ...

'' reported that Liberty Bank was settling a lawsuit filed in 2018 by the Connecticut Fair Housing Center and the National Consumer Law Center, alleging violations of the

Fair Housing Act The Civil Rights Act of 1968 () is a Lists of landmark court decisions, landmark law in the United States signed into law by President of the United States, United States President Lyndon B. Johnson during the King assassination riots. Titles ...

."Connecticut bank settles race bias in lending lawsuit."
(''

The Associated Press The Associated Press (AP) is an American not-for-profit news agency headquartered in New York City. Founded in 1846, it operates as a cooperative, unincorporated association, and produces news reports that are distributed to its members, major ...

'') (March 4, 2019) Retrieved March 4, 2019. The lawsuit concerned race bias."Connecticut bank settles race bias in lending lawsuit."
(''

The State A state is a political entity that regulates society and the population within a definite territory. Government is considered to form the fundamental apparatus of contemporary states. A country often has a single state, with various administrat ...

'') (March 4, 2019) Retrieved March 4, 2019.

References

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External links

Liberty Bank Official Website
Banks based in Connecticut Banks established in 1825 Mutual savings banks in the United States Companies based in Middlesex County, Connecticut