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 a ...

in the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...

, as well as the third largest

bank A bank is a financial institution that accepts 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 markets. Because ...

Connecticut Connecticut () is the southernmost state in the New England region of the Northeastern United States. It is bordered by Rhode Island to the east, Massachusetts to the north, New York to the west, and Long Island Sound to the south. Its cap ...

. Liberty Bank is headquartered in

Middletown, Connecticut Middletown is a city located in Middlesex County, Connecticut, United States, Located along the Connecticut River, in the central part of the state, it is south of Hartford, Connecticut, Hartford. In 1650, it was incorporated by English settler ...

and has 62 banking offices throughout the state, and one in western Massachusetts. Liberty Bank.
"About Us"
Accessed: 03 November 2021. Liberty Bank offers consumer and

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

ing, home

mortgages A mortgage loan or simply mortgage (), in civil law jurisdicions 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 pu ...

, 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 Norfolk, England, of which it is the county town. Norwich is by the River Wensum, about north-east of London, north of Ipswich and east of Peterborough. As the seat of the See of Norwich, with ...

. 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'' Ships * ''Niantic'' (whaling vessel), relic of San Francisco Gold Rush *USS ''Ni ...

in 2009, and relocated its

Cromwell Oliver Cromwell (25 April 15993 September 1658) was an English politician and military officer who is widely regarded as one of the most important statesmen in English history. He came to prominence during the 1639 to 1651 Wars of the Three Ki ...

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, ceremonial county and unitary authority in England. Situated on the River Avon, it is bordered by the ceremonial counties of Gloucestershire to the north and Somerset to the south. Bristol is the most populous city in ...

and

Southington Southington is a town in Hartford County, Connecticut, United States. As of the 2020 United States Census, it had a population of 43,501. Southington contains the villages of Marion, Milldale, and Plantsville. Geography Southington is situ ...

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 considered to be the oldest continuously published newspaper in the United States. A morning newspaper serving most of the state north of New Haven ...

'' 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 landmark law in the United States signed into law by United States President Lyndon B. Johnson during the King assassination riots. Titles II through VII comprise the Indian Civil Rights Act, which applie ...

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

The Associated Press The Associated Press (AP) is an American non-profit news agency headquartered in New York City. Founded in 1846, it operates as a cooperative, unincorporated association. It produces news reports that are distributed to its members, U.S. newspa ...

'') (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 centralized political organization that imposes and enforces rules over a population within a territory. There is no undisputed definition of a state. One widely used definition comes from the German sociologist Max Weber: a "stat ...

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

References

{{Reflist

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