Question 1

What is Liberty Bank Minnesota?

Accepted Answer

Liberty Bank Minnesota is a community-focused commercial bank headquartered in Saint Cloud, Minnesota. With approximately $276 million in assets and 6 branch locations across central Minnesota, the bank specializes in mortgage lending and residential real estate financing. As a state member bank of the Federal Reserve System, Liberty Bank Minnesota operates with a strong emphasis on serving local communities in the St. Cloud metropolitan area and surrounding regions.

The bank positions itself as "Central Minnesota's Home Loan Lender" and maintains deep roots in Stearns County and neighboring areas.

Question 2

When was Liberty Bank Minnesota founded?

Accepted Answer

Liberty Bank Minnesota was founded in 1987. The institution originally operated as Liberty Savings Bank, FSB (Federal Savings Bank) before converting to a state-chartered commercial bank.

On January 1, 2016, the bank transitioned from a federal savings bank to a state member bank of the Federal Reserve System, reflecting its evolution and growth in the Minnesota banking market. This transition marked a significant milestone in the bank's operational structure while maintaining its community banking focus.

Question 3

Where is Liberty Bank Minnesota headquartered?

Accepted Answer

Liberty Bank Minnesota is headquartered at 2842 2nd Street South in Saint Cloud, Minnesota, 56301. The headquarters building features a distinctive Vault Room that the bank uses for community events, meetings, and special occasions.

Saint Cloud, located in Stearns County, serves as the primary market for Liberty Bank Minnesota's operations.

Question 4

Where does Liberty Bank Minnesota operate?

Accepted Answer

Liberty Bank Minnesota operates 6 full-service branch locations throughout central Minnesota:
• Saint Cloud: Main office at 111 Seventh Avenue South, plus two additional branch locations including the Westwood branch
• Sartell: One branch (opened in December 2012)
• Waite Park: One branch located in a moderate-income census tract
• Monticello: One branch serving Wright County

The bank's primary assessment area covers the St. Cloud, MN Metropolitan Statistical Area, which includes Stearns County and Benton County. The bank also serves portions of the Minneapolis-St. Paul-Bloomington MSA, specifically Wright and Sherburne counties.

All branches feature drive-up facilities and ATMs with extended hours to serve customers conveniently.

Question 5

What services does Liberty Bank Minnesota offer?

Accepted Answer

Liberty Bank Minnesota offers a comprehensive range of banking services with particular strength in residential lending:

Mortgage Lending: The bank specializes in home loans and participates in government-backed programs including FHA loans, VA loans, and USDA Rural Development programs. Between 2012 and 2015, the bank originated 443 FHA and VA loans.

Personal Banking: Checking accounts, savings accounts, certificates of deposit (CDs), money market accounts, and personal loans up to $50,000.

Business Banking: Commercial loans, business checking and savings accounts, and commercial real estate financing.

Digital Services: Mobile banking app available for iOS and Android devices, online banking with bill pay functionality, mobile deposits, fund transfers, and Zelle® payment service.

Credit Cards: Debit cards through the Shazam network and credit card products.

The bank sells the majority of its residential real estate loans on the secondary market, enabling it to provide competitive rates and continued lending capacity.

Question 6

What makes Liberty Bank Minnesota unique?

Accepted Answer

Liberty Bank Minnesota distinguishes itself through exceptional community involvement and strong local commitment:

Community Development Excellence: The bank has received Outstanding ratings from federal regulators for its Community Reinvestment Act (CRA) performance. Between evaluations, the bank made donations totaling $248,803 specifically aimed at revitalizing moderate-income areas of downtown Saint Cloud, including improvements to the Lady Slipper parking lot, a catalyst site for downtown development.

Educational Support: The bank actively supports low- and moderate-income students in the St. Cloud school district through various donation programs.

Community Events: Liberty Bank Minnesota hosts and sponsors numerous community events including Libertyville! in Sartell (celebrating its 10th year in 2024), participation in the annual CMBA Home Show, Halloween events in Monticello, and sponsorship of Rockin' the Riverside concerts in Sauk Rapids.

Local Ownership: Operating as a 100% locally owned and operated institution, the bank maintains strong ties to the communities it serves.

The Vault Room: The bank's headquarters features a unique Vault Room used for community meetings, events, and special broadcasts, including hosting the entire WJON morning radio show.

Financial Strength: The bank maintains strong financial metrics with a Return on Equity of 12.41% and a Tier 1 Leverage Ratio of 13.24%, demonstrating solid capitalization and efficient operations.

Question 7

What type of financial institution is Liberty Bank Minnesota?

Accepted Answer

Liberty Bank Minnesota is a State Commercial Bank that specializes in mortgage lending. The institution operates as a state-chartered bank and is a member of the Federal Reserve System.

As a commercial bank with mortgage lending specialization, Liberty Bank Minnesota focuses heavily on 1-4 family residential loans, construction and development loans, and consumer loans. This specialization aligns with its market positioning as "Central Minnesota's Home Loan Lender."

The bank is classified as a small institution by regulatory standards but maintains significant market presence in the St. Cloud MSA, where it holds approximately 3.0% deposit market share, ranking 8th among 32 FDIC-insured institutions in the area.

Liberty Bank Minnesota operates as an S-Corporation and is regulated by the Federal Reserve Board. The bank is a subsidiary of Liberty Financial Services St. Cloud, the holding company (RSSD 3800658).

Liberty Bank Minnesota

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About Liberty Bank Minnesota in the United States