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October 21, 2020

Liberty Bank applies to state to open Elm City office

PHOTO | CONTRIBUTED 59 Elm St., New Haven
By Michelle Tuccitto Sullo

The state Department of Banking is reviewing an application from Liberty Bank to establish a loan production office in New Haven, as the bank is trying to build up its commercial banking presence on the I-91 corridor.

The Middletown-based bank plans to house the new office at 59 Elm St., Suite 510, according to the department.

State law requires a bank to apply to the department if it wants to open a branch or limited branch where loans will be made. 

The bank finalized a lease of the 2,500 square foot office space on the building’s fifth floor in September. The Department of Banking received the application earlier this month.

Adam J. Jeamel, senior vice president and corporate communications manager for Liberty, said the plan is for the commercial lending loan production space in New Haven to house offices for bankers, a conference room and a reception area. 

Jeamel declined to give a timeline for when it might be ready to open, because it is pending regulatory approval.

Jeff Hubbard, senior vice president, regional commercial bank manager, will lead the team of commercial bankers at the new location. 

The goal, according to Jeamel, is to “build and deepen commercial banking relationships in Greater New Haven, including with commercial, middle-market and small business lending customers.”

Jeamel said the Greater New Haven region is an important market for Liberty Bank. It currently has two local branches in New Haven, at 1475 Whalley Ave. and 153 College St.

Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.

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