Middletown, Connecticut-headquartered Liberty Bank has launched Owners Bank, a digital bank aimed at small business owners.
Billed as being “all business, no BS,” Owners Bank will offer traditional business interest checking and savings accounts, but it will also offer a digital platform than enables customers to create a personalized dashboard that consolidates all of their accounts ”“ from Owners Bank and other financial institutions ”“ into a single user-friendly view designed to manage finances more easily.
“Big banks often fall short when it comes to servicing small businesses,” said Owners Bank Founder and CEO David Mitchell. “So, in an age when small businesses represent a large and impactful portion of our business landscape, workforce and economy, we thought it was about time there was a bank that caters specifically to their needs. This is why we created Owners Bank ”” to fill a major gap in the banking industry by providing tools designed to help small business owners knock out financial tasks, so they can get back to running their businesses.”
Owners Bank will be initially available to small business owners in Connecticut, Rhode Island, Massachusetts and Pennsylvania, with a national rollout planned for the near future. The bank will begin to originate business loans and credit starting in mid-2023.
“With over $7 billion in assets, Liberty Bank has always been owned by its customers and is committed to putting them first,” said David W. Glidden, President and CEO of Liberty Bank. “Our mission since inception nearly 200 years ago has always been rooted in helping the communities we serve ”“ especially small businesses who have specific needs that Owners Bank is uniquely designed to address. With the creation of this new digital bank, we are expanding our footprint to provide even more support to small business owners who are looking for a well-established innovative banking partner.”
