Liberty Bank Files For 6 Branch Closings In Connecticut

CONNECTICUT — Middletown-based Liberty Bank has told regulators that a half-dozen branches will be closing by the fall.

Liberty Bank officials filed the plans with the Connecticut Department of Banking last week.

According to the filing, the branches will be closing by Oct. 1.

The six branches amount to about 10 percent of Liberty Bank's roster in Connecticut.

The doomed branches are:

• 127 S. Main St., Beacon Falls
• 774 Farmington Ave., Bristol
• 7 Main St., Essex
• 61 Bank St., New London
• 1570 Southford Road, Southbury
• 1232 Farmington Ave., West Hartford

The West Hartford location is the only branch with another nearby.

After the closings, Liberty Bank will still have Connecticut branches in:

• Avon
• Berlin
• Bloomfield
• Branford
• Cheshire
• Clinton
• Colchester
• Cromwell (2)
• Deep River
• Derby
• Durham
• East Hampton
• East Lyme
• Glastonbury
• Granby
• Groton
• Haddam
• Hamden
• Hartford Mortgage Office
• Higganum
• Madison
• Mansfield
• Marlborough
• Meriden
• Middlefield
• Middletown (4)
• Moodus
• Mystic
• Naugatuck (2)
• New Britain
• New Haven (2)
• Newington
• Niantic
• North Haven
• Norwich
• Old Saybrook
• Plainville
• Portland
• Quaker Hill
• Seymour
• Simsbury
• Southington
• Wallingford
• Waterbury
• Waterford
• West Hartford
• Wethersfield (2)
• Willimantic (2)

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Liberty Bank's roots can be traced back to 1825 and it is one of the oldest and largest mutual banks in the country.

The institution boasts more than $7 billion in assets.

Liberty bank offers consumer and commercial banking, cash management, home mortgages, business loans, insurance and investment services.

The bank released the following statement Thursday afternoon:

"We are continuously evaluating all aspects of our business, including our branch network and ways to reinvest in the Bank. As part of our evaluation, we consider a number of factors including branch profitability, growth of households and deposits, deposit mix, transaction volume and market penetration. In addition, we always monitor and respond to our customers’ changing banking habits, advancements in technology and the presence of competitor banks in our markets.

"As a result of our thorough research and after thoughtful discussion, we submitted applications to close these six branches. However, customers who bank with us at one of these branches will continue to benefit from a first-class banking experience at other nearby Liberty Bank branches."