Submitted by Amanda Falcone, Liberty Bank
(June 3, 2025) — According to a notice on the Connecticut Department of Banking website, Liberty Bank has filed plans to close three branch offices, including the branch at 116 Bridge Street in Haddam.
“We continuously evaluate all aspects of our business to ensure we are aligning our priorities (and investments) with the needs and wants of our customers,” Liberty Bank said in a statement. “Though we continue to grow our client base, like most banks over the years, we have experienced a decrease in the number of customer transactions being conducted in our branches. This decline in transactions was accelerated during the pandemic as customers who were heavy branch users prior to the pandemic, transitioned, out of necessity given the social-distancing protocols, to using our digital channels such as mobile banking, on-line banking, and our ATMs. Having experienced the ease and convenience of these digital channels, many branch customers have now favored using these channels over visiting a branch.
Though our branch network remains, and will continue to remain, an important and integral channel, given the migration we are experiencing by our customers towards digital channels, there isn’t a need to have as many branches as in the past. And this trend is not unique to banking, we see it across the retail industry nationwide as more and more consumers choose more convenient channels to conduct their business, shopping, etc. Customers are choosing to bank differently and our priority is to provide them with an exceptional and seamless experience regardless of the channel they choose. We take great pride in being ranked #1 in Retail Banking Customer Satisfaction in the New York Tri-State area in 2025 by J.D. Power and are committed to continuing to make significant investments in our teammates, technology, products, and services.
While it is always a difficult decision to close a branch, several factors were considered in determining which branches to close including branch customer transaction volumes, the proximity to the next closest branch, profitability, and market share penetration. Our dedicated teammates in these offices have been secured another position within our branch network.
While there are no immediate plans to open or close additional branches, we will continue to evaluate our branch network and assess opportunities as they are identified.”
Liberty Bank also will close branches at 445 West Main Street in Branford and at 1009 New Haven Road in Naugatuck. The proposed closing of the three branches is scheduled for November of 2025.
