New Position A Testament To Liberty Bank 'Growth In Size And Complexity'

MIDDLETOWN, CT — Jeffrey Culp has been named Deputy Chief Financial Officer at Liberty Bank.

The role of Deputy CFO was created in response to "Liberty’s growth in both size and complexity," bank officials said. With $8.4 billion in assets, Liberty Bank "is evolving into a more intricate organization and undergoing an exciting transformation."

Therefore, said Liberty Bank President and CEO David Glidden, along with Senior Executive Vice President and Chief Financial Officer Paul Young, "now was the right time" to create the position and appoint Culp, due to "his banking experience, financial acumen and the leadership he has shown while at Liberty Bank."

Glidden added, "When Jeff joined Liberty in 2020, he brought with him broad financial knowledge, leadership qualities and a collaborative approach that we’ve relied on as we've grown this bank to more than $8 billion in assets. That’s why he’s deservedly earned the utmost respect from his teammates, our executive leadership team and Board of Directors. I can speak for Team Liberty when I say we look forward to the talent and expertise he will bring to this new position."

Young expressed enthusiasm for the promotion of Culp into his new role.

"I had worked with Jeff over a decade ago, so I was excited to be able to reunite and
bring talent of his caliber to Liberty Bank," he said. "We have doubled in asset size since
that time and now lead our peer banks in most key financial metrics. Jeff has been an
integral part of that success, and his ascension into this new role will provide additional opportunities for him to drive positive change as we continue to grow and transform the bank."

With more than three decades of financial experience, Culp will be responsible for the
bank’s Accounting and Treasury functions. He joined Liberty Bank in 2020 as Senior
Vice President and Head of Financial Planning & Analysis. Most recently, Culp served
as the CFO of the bank’s Business Transformation Office.

Culp has a Bachelor of Business Administration in Accounting and an MBA in Finance
from Temple University, and he earned the Chartered Global Management Accountant
designation as the inaugural graduate of the Registered Apprenticeship for Finance Business Partners Program. The program was the first-of its-type program led by the American Institute of CPAs and the Chartered Institute of Management Accountants. Culp is also a recent graduate of the Chief Financial Officer Program at Columbia University.

He lives in East Lyme.