Liberty Savings Bank/South Carolina
Liberty Savings Bank/South Carolina
Hilton Head Island, South Carolina
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 1960's, 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 49 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. Growth of the financial center network started in 1991, and continues today. Liberty currently has 19 retail offices in Ohio, situated in Beavercreek, Centerville, Dayton, Englewood, Fairborn, Hillsboro, Huber Heights, Kettering, Lima, Lynchburg, Oakwood, Springfield, and Wilmington.
In 1988, 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 has also an operations center in Wilmington, Ohio, and the commercial real estate function is 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 17 financial centers serving the communities of Aurora, Castle Rock, Commerce City, Metro Denver, Englewood, Granby, Greenwood Village, 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 Sun City and Belfair.
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 8 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. The bank in turn has one wholly owned subsidiary, Liberty investment services, Inc. LIS was established in its present form in 1994, and provides Liberty's customers with financial planning services and alternative investment options. Two previous subsidiaries, Liberty Lending Services, Inc., and LPI Properties, Inc., were merged into Liberty Savings Bank effective April 1, 2003. LLS was the organization's mortgage banking entity, while LPI was responsible for property management. With these mergers, Liberty has become a more streamlined, efficient, and effective organization.
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.
For more information about Liberty Savings Bank, please view our web site at:
Liberty Savings Bank/South Carolina
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