Corporate Profile And History

Liberty Savings Bank, F.S.B., was founded in 1889 in Highland County, Ohio, when a group of businessmen pooled their funds to create the Lynchburg Building and Loan Association.  The Association was formed to help meet the community’s demand for home ownership, and over the years several business mergers helped to strengthen this small, rural bank.

In the late 1960s, Lynchburg Building and Loan Association merged with Superior Loan and Building to form Highland Savings Association.  The company continued to grow and strengthen, and when a third office was opened in nearby Wilmington, in Clinton County, Ohio, the name was changed to Liberty Savings Association.  James R. Powell acquired the company in September, 1984, renaming it Liberty Savings Bank, a Federal Savings Bank.  With this federal thrift charter, Liberty gained more flexibility in the products and services it was able to offer.  In 1985, Liberty Capital, Inc., was established to serve as the holding company for the savings bank.

When Liberty Savings Bank came under the direction of James R. Powell in 1984, it had three small branches in Highland and Clinton Counties, in rural southwestern Ohio.  Under his leadership, Liberty has exhibited tremendous growth, expanding into three additional states and increasing its network of retail offices to 40 full service financial centers.

Ohio

Expansion in Ohio began in 1988, when Liberty acquired the former South Side Savings and Loan Association of Lima, Ohio, which was renamed South Side Savings Bank, F.S.B.  It remained a separate financial institution until it was merged into Liberty Savings Bank in 1991.  In June, 2005, the two Lima financial centers were sold with the proceeds re-deployed toward expansion in more rapidly growing markets.  Growth of the financial center network started in 1991, and continues today.  Liberty currently has 17 retail offices in Ohio, situated in Beavercreek, Centerville, Dayton, Englewood, Fairborn, Hillsboro, Huber Heights, Kettering, Lynchburg, Oakwood, Springboro, Vandalia, and Wilmington.

In 1998, Liberty purchased the former Hulman Building in Downtown Dayton, Ohio.  This historic Art Deco building was renamed Liberty Tower and now serves as Liberty Savings Bank’s administrative headquarters.  Extensive renovation has helped Liberty Tower reclaim its position as one of the premier bank and office buildings in the Downtown Dayton area.  Liberty also has an operations center in Wilmington, Ohio, and additional office space located in Dublin, Ohio.

Colorado

Colorado was the site of Liberty’s first inter-state expansion with the acquisition of Colorado Savings and Loan in 1990.  This two-office thrift was renamed Colorado Savings Bank, F.S.B., and it retained its separate corporate identity until 1996, when it was merged into Liberty Savings Bank.  Growth in Colorado has been rapid and extensive.  There are currently 11 financial centers serving the communities of Metro Denver, Englewood, Granby, Highlands Ranch, Lakewood, Longmont, Northglenn, and Superior.

South Carolina

Liberty expanded into South Carolina next, opening two financial centers on Hilton Head Island in 1993.  Liberty’s operations have also grown in this region, and there are now 5 offices serving the island of Hilton Head and the off-island communities of Bluffton and Okatie.

Florida

Liberty’s fourth area of expansion has been the west coast of Florida, where two offices were opened in Sarasota in 1995.  The success of these offices quickly led to expansion in neighboring Bradenton and Venice, and there are currently 7 retail offices serving these three communities.  Liberty’s “Builder Direct” function, for originating and servicing construction loans, is located in Jacksonville, Florida.

Affiliates

The Liberty organization continues to be structured with Liberty Capital, Inc., as the holding company of Liberty Savings Bank.  At this time, the bank has no subsidiaries.  Three previous subsidiaries, Liberty Lending Services, Inc.; LPI Properties, Inc.; and Liberty Investment Services, Inc. have been merged into Liberty Savings Bank and now operate as departments of the bank.  Liberty Lending Services, the organization’s mortgage banking entity, and LPI Properties, the property management subsidiary, were merged effective April 1, 2003.  The investment services subsidiary, LIS, was merged effective January 1, 2005.  Liberty Investment Services has been registered as a trade name and continues to be used as a marketing device for the investment services function.

From its modest beginnings well over a century ago, Liberty Savings Bank has grown into a tremendously successful financial institution as a result of superior banking products and a commitment to quality customer service.  The future continues to look bright with even greater expectations of growth and excellence.