Liberty Bank and Trust

What Liberty Bank and Trust does

Liberty Bank and Trust Company is a privately held, FDIC-insured community bank chartered in New Orleans, Louisiana in 1972 and now operating across 8 states (Louisiana, Mississippi, Alabama, Illinois, Michigan, Kansas, Missouri, and Kentucky) with 20+ branch and ATM locations and 101-250 employees. The bank serves individual consumers, small-to-mid-size businesses, commercial clients, the Tulane University community, and community development organizations, with a mission focus on financial inclusion in historically underserved communities, particularly African American and low-to-moderate income populations. Its product set spans personal banking (checking, savings, credit cards, mortgages, auto loans, HELOCs, Freedom Fast Personal Loans up to $25,000), business banking (Lightning Loans up to $50,000 with 48-hour funding, SBA 7(a)/504 Express Lender), and commercial lending (term loans, lines of credit, recent transactions of $2.9M-$4.7M for mixed-use, office, construction, and multifamily projects), supplemented by merchant services via Clover POS, Greenlight family banking, and Enrich-powered financial wellness tools.

Revenue is generated primarily through net interest income on the consumer, mortgage, auto, commercial, and SBA loan portfolios, with a deposit-funded spread model complemented by fee income from ATM transactions ($2), NSF ($29), overdraft charges ($1.50 daily), wire transfers, stop payments, and merchant processing rates starting at 2.3% + 10 cents. Liberty Bank grows primarily through acquisition-driven geographic expansion (six acquisitions from 2003 through 2015), supplemented by a hybrid distribution model combining physical branches, online/mobile banking, a dedicated mortgage center (mortgages.libertybank.net), commercial lending teams with regional directors, an on-campus branch at Tulane University, and a Louisville Loan Production Office. Leadership is led by CEO Alden McDonald and CFO Shaunda Clark.

Name

Liberty Bank and Trust

Legal name

Liberty Bank & Trust Company

Website

https://libertybank.net

Company type

Private

Founded year

1972

Operating status

Operating

Headcount range

101–250 employees

Short description

Liberty Bank and Trust is a privately held, FDIC-insured community bank chartered in 1972 in New Orleans, operating 20+ branches across 8 states. It provides personal, business, and commercial banking products—including mortgages, SBA loans, and merchant services—to underserved African American and low-to-moderate income communities.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Commercial Banking (522110)

SIC

State Commercial Banks (6022), National Commercial Banks (6021)

akta.pro primary industry

Credit Cards & Revolving Credit (FSABAAAC)

akta.pro secondary industries

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL), Bank-Affiliated Retail Wealth Management (FSAAAAAB)

Keywords

• Community banking services
• Commercial lending solutions
• Mortgage loan products
• Small business lending
• Merchant processing services

Headquarters

HQ city

New Orleans

HQ country

United States

HQ region

North America

Offices28 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Net Interest Income — Personal Lending: Interest income earned on personal loans including Freedom Fast Personal Loans (APR 9%-18%), auto loans, home equity lines of credit, and mortgages (conventional, FHA, VA, adjustable-rate, jumbo, construction, renovation, and non-QM programs). Interest income is earned over the life of the loan based on agreed rates.
2. Net Interest Income — Business & Commercial Lending: Interest income from commercial term loans, commercial lines of credit, business lines of credit, equipment financing, real estate loans, SBA 7(a) and 504 loans, Lightning Loans for small businesses, and Lightning Loans for commercial purposes. Commercial lending programs cover financing needs greater than $50,000.
3. Deposit Interest Expense Recovery: Interest earned on personal and business savings accounts, CDs, IRAs, and Capital Asset Funds. The Capital Asset Fund earns 0.15% APY; interest is paid on checking account balances. The spread between interest earned on loans and interest paid on deposits constitutes net interest income.
4. Non-Interest Income — Fees & Charges: Fees generated from ATM transactions at non-bank ATMs ($2.00 per transaction), overdraft charges ($29.00 per item returned or paid NSF, $1.50 daily overdraft charge), wire transfers ($20.00 outgoing domestic), stop payments ($25.00), cashier's checks ($5.00 customer, $20.00 non-customer), check printing, account research ($20.00 per hour), garnishment/levy processing ($25.00), dormant account fees ($3.00 per month after 12 months inactivity), and collection items ($30.00 per item).
5. Merchant Services — Clover Partnership: Revenue generated from merchant processing services provided through a partnership with Clover. Clover POS systems are offered to business banking customers with rates starting at 2.3% + 10 cents per transaction. Additional revenue from Clover Capital, which converts future credit card sales into working capital with no fixed payment, no fixed term, and no interest rate.
6. Credit Card Income: Interest and interchange income from Liberty Bank Visa Credit Cards (fixed APR as low as 9.96%) and Visa Debit Cards. No balance transfer fees are charged on the credit card.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels7 records

Core offering

Liberty Bank and Trust is a community bank founded in 1972 that provides personal banking (checking, savings, credit cards, mortgages, auto loans, personal loans, HELOCs), business banking (SBA loans, Lightning Loans, merchant services, business checking and savings), and commercial banking (commercial term loans and lines of credit over $50,000 for real estate, construction, and equipment) across 8 states. Revenue is generated primarily through net interest income on loans and deposits, supplemented by transaction fees, merchant processing fees, and interchange income on credit and debit cards. The bank distributes these products through 20+ branches and ATMs, online and mobile banking, a dedicated mortgage center at mortgages.libertybank.net, a commercial lending team, and partnerships including Clover for merchant services, Greenlight for family banking, and The Financial Spot at Tulane University.

Product overview

Liberty Bank and Trust operates as a traditional community bank offering a unified suite of banking products and services. The core banking platform provides personal banking (checking, savings, credit cards, mortgages, personal loans), business banking (checking, lending, merchant services), and commercial banking services. The bank has expanded through acquisitions and now serves customers across 8 states. Key named products include Lightning Loan for Business (small business loans up to $50,000), Freedom Fast Personal Loans (up to $25,000), comprehensive home mortgage solutions through the Home Mortgage Center, Merchant Services powered by Clover POS, Greenlight family banking, Our Money Matters financial wellness (powered by Enrich), and The Financial Spot campus banking. SBA lending partnerships and various deposit products (IRAs, CDs, Capital Asset Fund) round out the portfolio.

Differentiator

Problem solved

Functional benefit

Brands

• Freedom Fast Loans: Unsecured personal loans offered by Liberty Bank with amounts up to $25,000 and fast decision processing.
• Lightning Loan

Products and services

• Personal Checking Accounts Personal checking account products offered by Liberty Bank to individual consumers in three tiers: First Account Checking (for entry-level/youth customers), Personal Checking, and Premium Checking. Available through branches and online account opening.
• Personal Savings Accounts (including First Savings, IRAs, CDs, Capital Asset Fund) Personal savings products including First Savings Account for customers under 17 ($50 to open, no minimum balance), Personal Savings Account ($50 to open, interest on any balance), IRAs, Certificates of Deposit ($1,000 minimum, 3-month to 5-year terms), and Capital Asset Fund ($2,500 minimum, 0.15% APY). Designed for household savings, youth savings, retirement, and longer-term deposit goals.
• Personal Visa Debit and Credit Cards Personal Visa Debit Card and Personal Visa Credit Card products. Credit Card has fixed APR as low as 9.96% with no balance transfer fees; rate is fixed rather than introductory. Available to Liberty Bank personal banking customers across the 8-state footprint and digitally.
• Freedom Fast Personal Loans Unsecured personal loans up to $25,000 with same-day credit decisions and same-day fund deposits for approved applicants. APR ranges from 9% to 18% based on creditworthiness; terms range from 12 to 36 months. Includes a $20 document fee and a $45 origination fee. Designed for individual borrowers who need fast access to credit.
• Auto Loans Auto loan product offered to Liberty Bank personal banking customers with competitive interest rates, flexible terms, no prepayment penalty, and a 30-day rate lock. Credit decisions are delivered within hours of application. Available across the 8-state footprint and online.
• Home Equity Line of Credit (HELOC) Home Equity Line of Credit (HELOC) product available to eligible homeowners, leveraging existing home equity as a revolving credit line. Distributed through Liberty Bank branches and online channels.
• Home Mortgage Loans Comprehensive mortgage solutions including Conventional Fixed-Rate Loans, FHA Fixed-Rate Loans, VA Fixed-Rate Loans, Adjustable Rate Mortgages (ARMs), Jumbo Loans, Construction Loans, Renovation/Repair Loans, Home Equity Loans, and Non-QM Loan Programs. Also offers refinancing options. Includes participation in down payment assistance programs for first-time buyers. Non-QM loans serve borrowers with less-than-stellar credit, self-employed borrowers, real estate investors, foreign nationals, small business owners, high-DTI borrowers, gig workers, independent contractors, and retirees. Originated through the Mortgage Center at mortgages.libertybank.net.
• Business Checking Accounts (Enterprise and Corporate) Business checking account products including Enterprise Checking and Corporate Checking tiers for small and mid-size businesses. Available through branches and online business account opening. Includes cash management capabilities for business clients.
• Business Savings Accounts Business savings deposit products for small and mid-size businesses, complementing business checking and supporting cash management. Distributed through branches and online channels across Liberty Bank's 8-state footprint.
• SBA Loans (7(a) and 504 Programs) SBA loans originated through Liberty Bank's SBA Express Lender status with the U.S. Small Business Administration. Includes 7(a) Guaranty Program (50%–85% SBA guarantee, floating rates, max 25 years on real estate / 10 years on equipment and working capital) and 504 Program (lender 1st mortgage, SBA 2nd mortgage, borrower 10%–20% down payment, fixed or floating rates). Supports business expansion, construction, equipment, working capital, and business acquisition.
• Lightning Loan for Small Business Quick, flexible funding specifically tailored for small businesses, with loan amounts up to $50,000 and funds deposited in as little as 48 hours. Used for business vehicle purchases, working capital, inventory, equipment, and other business purposes. For commercial loans greater than $50,000, customers are directed to the Commercial Lending Inquiry channel.
• Commercial Lending (Term Loans and Lines of Credit for transactions over $50,000) Commercial lending services for larger commercial entities, real estate developers, and corporate borrowers with financing needs greater than $50,000. Includes commercial term loans, commercial lines of credit, real estate acquisition and construction financing, SBA-backed lending, equipment financing, and permanent financing. Originated through Liberty Bank's dedicated Commercial Lending Team with regional directors across multiple states. Recent transactions include a $4,046,014 mixed-use term loan (Houston, TX), a $3,600,000 construction loan (Slidell, LA), a $2,987,300 office term/permanent loan, and a $4,700,000 multifamily loan (22 units).
• Merchant Services (Clover POS) Merchant processing services distributed to Liberty Bank business banking customers through a partnership with Clover. Includes Clover Station Duo, Clover Station Solo, Clover Mini, Clover Flex, Clover Go, and Clover Virtual Terminal configurations. Accepts EMV chip cards, Apple Pay, and Samsung Pay with fraud protection and loyalty programs. Rates start at 2.3% + 10 cents per transaction. Also offers Clover Capital, a working capital product that converts future credit card sales into working capital with no fixed payment, no fixed term, and no interest rate.
• Online & Mobile Banking Online and mobile banking platform providing 24/7 account access, bill payment, account alerts, and mobile banking services. Upgraded in 2024 with enhanced security and simpler tools. Includes Zelle peer-to-peer money transfers and is used for online account opening across personal, business, and small business accounts.
• Our Money Matters (Financial Wellness powered by Enrich) Free financial wellness platform powered by Enrich, offering online tools and videos for financial check-ups, budget creation and balancing, credit improvement tips, retirement savings guidance, insurance coverage assessment, and progress tracking with calculators. Available to Liberty Bank customers at no cost and used as a customer retention and financial literacy resource.
• Greenlight Family Banking Free financial education and debit card platform for families, offered to Liberty Bank personal banking customers through a partnership with Greenlight. Helps parents and children learn to earn, save, and spend wisely together. The platform has 6+ million parents and kids using it.

Quantifiable outcome

• Credit decisions for Freedom Fast Personal Loans can be issued same day, with funds deposited within hours of approval.
• +3 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

Five partnerships are on record, tiered minor and core.

• GreenlightminorGTM or Marketing PartnerLiberty Bank partnered with Greenlight to offer a free financial literacy and banking platform for kids and families. The Greenlight platform, which has over 6 million users, helps parents and children learn to earn, save, and spend wisely together. Liberty Bank promotes Greenlight as a free benefit for its personal banking customers.
• Clover (Clover Network, LLC)coreTechnology or IntegrationLiberty Bank partnered with Clover to provide merchant processing services to its business banking customers. Clover POS systems (Station Duo, Station Solo, Mini, Flex, Go, Virtual Terminal) are offered through Liberty Bank's merchant services program with rates starting at 2.3% + 10 cents per transaction. The partnership also includes Clover Capital, a working capital product that converts future credit card sales into capital.
• CBC Mortgage Agency (Chenoa Fund)coreGTM or Marketing PartnerLiberty Bank is a proud preferred partner with CBC Mortgage Agency to offer the Chenoa Fund down payment assistance program. This partnership enables Liberty Bank to provide down payment assistance to first-time homebuyers, particularly in underserved communities, as part of its mortgage lending products.
• U.S. Small Business Administration (SBA)coreStrategic or Co-development PartnerLiberty Bank and Trust Company partners with the U.S. Small Business Administration as an SBA Express Lender. The bank participates in the SBA 7(a) Guaranty Program (50%-85% SBA guarantee) and the SBA 504 Program. The partnership enables Liberty Bank to provide small business loans with lower down payments, extended terms, and reduced collateral requirements compared to conventional lending.
• Tulane UniversityminorStrategic or Co-development PartnerLiberty Bank operates The Financial Spot, an on-campus banking location at Tulane University's Lavin-Bernick Center for University Life. This partnership provides Liberty Bank with a campus distribution channel while offering Tulane's faculty, staff, students, alumni, and vendors access to banking products and financial literacy resources.

Scale indicators4 records

Recent moves10 records

Expansion highlights7 records

Direct peers

• OneUnited Bank: Largest Black-owned bank in the U.S., operating in Los Angeles, Boston, and Miami. Shares Liberty Bank's mission-driven community development focus, similar product suite (checking, savings, mortgages), and multi-state minority depository institution positioning.
• Carver Bancorp: Black-owned community bank holding company headquartered in New York. Operates Carver Federal Savings Bank serving underserved communities with deposit products, mortgages, and small business lending — directly comparable mission and customer base.
• Broadway Financial: Black-owned savings institution and MHC holding company in Los Angeles. Focused on serving low-to-moderate income and minority communities with checking, savings, and mortgage lending — similar CDFI-aligned mission and community banking model.
• Southern Bancorp: CDFI-certified community development bank holding company operating in Arkansas and Mississippi. Shares Liberty Bank's community development mission, CDFI status, SBA lending, and underserved-market focus across overlapping Mid-South geography.
• First Independence Bank: Black-owned community bank headquartered in Detroit, Michigan — operating directly within Liberty Bank's Michigan footprint. Serves similar customers with comparable checking, savings, mortgage, and small business products.

Broad incumbents

• Citizens Financial Group (Citizens Bank): Large regional bank with significant retail, mortgage, and SBA lending operations across the Midwest, Mid-Atlantic, and elsewhere. Overlaps Liberty Bank on commercial lending, mortgages, and small business banking but at vastly greater scale and broader geographic footprint.
• JPMorgan Chase (Community Banking / SBA): National banking giant with extensive SBA lending, branch network, and personal banking franchise. Liberty Bank competes for the same consumer and small business customers across its 8-state footprint, particularly in Detroit, Kansas City, New Orleans, and Memphis where Chase also operates branches.

Emerging players

• Hope Credit Union: CDFI-certified credit union serving Mississippi, Louisiana, Tennessee, Alabama, and Arkansas with deep community development focus. Operates as a not-for-profit cooperative but competes for the same low-to-moderate income customers across many of the same Mid-South markets.

Regional players

• City National Bank (various MDIs): Minority-focused community banks in markets like Newark, NJ and other urban centers share a similar minority depository institution and community development focus, though they operate in different geographies than Liberty Bank's footprint.
• Liberty Savings Bank (FHC): Mutual savings institution headquartered in Columbus, Ohio serving retail and small business customers with deposit products, mortgages, and consumer lending. Comparable community-bank product mix, though operating in different geographies and as a mutual.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/LibertyBankAndTrust
• LinkedInlinkedin.com/company/libertybankandtrust
• Instagraminstagram.com/libertybankandtrust

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Liberty Bank and Trust