Drugstore No More: Bank Now Embedded In CT Communities For 200 Years

MIDDLETOWN, CT — Liberty Bank is turning 200 Years old on May 4.

It began as a drugstore on Main Street in Middletown and is now the fifth-oldest bank in the nation.

Here is a brief history of the bank, courtesy of the bank:

What started out in an old 17th Century wooden cupboard in a drugstore on Main Street in Middletown, Conn. in 1825 now stands among the oldest banks in the country. That’s Liberty Bank – which is celebrating its historic 200th Anniversary on Sunday, May 4, 2025.

Samuel Southmayd, the owner of the local drugstore, did what Liberty Bank continues to
do today ... He delivered an extraordinary customer experience for local citizens who needed a
proper place to deposit their money and keep important papers safe.

Demands for Mr. Southmayd’s services increased and he recognized the old wooden
cupboard was no longer a suitable option to store money. So he and other civic-minded
townspeople banded together and petitioned the Connecticut General Assembly for a
mutual savings bank charter to start The Middletown Savings Bank – now Liberty Bank – on
May 4, 1825.

Today, Liberty Bank – which held its 200th Annual Meeting on Monday, April 28 – is the 5th
oldest bank in the country with over $8 billion in assets, more than 800 teammates, 54
retail banking locations and Loan Production Offices located in Connecticut and
Massachusetts.

Since 1825, Liberty Bank has been an enormous economic driver, a jobs creator and a
generous community partner through corporate giving, Liberty Bank Foundation grant
awards and teammate volunteerism. Since its inception in 1997, Liberty Bank Foundation has awarded more than $21 million in grants to nonprofit organizations throughout the Bank’s market area.

“There are not many banks – or many other businesses for that matter – who can say
they’ve been around for 200 years. It’s a remarkable milestone deserving recognition and
one worth celebrating because Liberty Bank withstood an incredible test of time over the
past two centuries,” said David W. Glidden, President & CEO of Liberty Bank.
“First and foremost, I want to thank our customers and community partners because
without them we could never have achieved this longevity and prosperity. That’s why this
celebration is more about them than us. I also want to thank Team Liberty because they
continue to do what our founders probably envisioned when they started this bank 200
years ago: to improve the lives of our customers, teammates and communities for
generations to come.”

Team Liberty made it a priority to celebrate the Bank’s 200th Anniversary with the
community through events and activities throughout the year as a way of giving back and
being “community kind.”

Among the 200th Anniversary activities are:

• “1825” initiative where chosen nonprofits in communities where Liberty Bank has a
branch (54 locations) will receive a donation of $1,825 – over $90,000 in total.
• Partnering with Hands on Hartford to provide over 200 lunch kits to ensure children
have healthy lunches on days they are not in school;
• Donating $200,000 to Make-a-Wish CT and $50,000 to Make-a-Wish MA for
“wishes” for children on their waiting list;
• Working with the Max Restaurant Group to donate 200 Thanksgiving Dinner Boxes to
area families in need;
• Building 200 bikes that will be donated to children in Liberty Bank communities.
In addition, Connecticut Governor Ned Lamont, Lieutenant Governor Susan Bysiewicz and
Middletown Mayor Ben Florsheim are issuing official proclamations recognizing Liberty’s
milestone anniversary on May 4, 2025.