Liberty Bank in Connecticut to launch digital bank

Liberty Bank in Middletown, Conn., is close to launching a digital bank that will focus on small businesses.

The $7.4 billion-asset bank plans to open the bank in the first quarter, according to the Hartford Business Journal. 

The plan is to offer loans and deposits, along with a series of solutions for invoicing, payments and expense management. 

Liberty had planned to debut the bank in 2021 but faced a series of Covid-related delays. The brand is expected to be revealed early next year. 

The bank recently hired Harry Gunsallus, former chief innovation officer at BankSouth in Georgia to serve as its digital strategy officer and chief operating officer of digital banking.