Forbes Ranks Best Banks In Connecticut

CONNECTICUT — Liberty Bank has emerged as the best bank in Connecticut in the Forbes annual Best Banks In Each State rankings.

It's the fourth year of the Forbes undertaking.

Forbes partnered with market research firm Statista to gauge whose customers gave what banks the highest grades. Nearly 25,000 customers in the U.S. were surveyed for their opinions on their current and former banking relationships. Financial institutions were scored on overall recommendations and satisfaction, along with trust, terms and conditions, branch services, digital services and financial advice.

Of the 4,978 FDIC-insured banks in America, just 135 banks, or 2.7 percent, made the Forbes list.

Liberty Bank received "very high grades," according to bank president and CEO David Glidden.

"Obtaining this national recognition is especially impressive, considering all that the Liberty team was able to achieve for our customers, teammates and communities during the pandemic and since the bank’s inception nearly 200 years ago," Glidden said. "First and foremost, I want to thank our Liberty teammates for their invaluable support and dedication to always providing best-in-class customer experiences. It goes without saying that we have some of the best teammates around, which in turn allowed us to achieve this milestone award as Connecticut’s premier bank."

Liberty Bank is Connecticut's largest mutual bank with more than $7 billion in assets and 62 banking offices across the Nutmeg State. Liberty offers consumer and commercial banking, cash management, home mortgages, business loans, insurance and investment services.

Here are the banks that made the grade with Forbes.

1. Liberty Bank: 702 employees, based in Middletown, founded in 1825
2. People's United Bank: 5,500 employees, based in Bridgeport, founded in 1842
3. Santander: 191,189 employees, based in Spain, founded in 1857

See the state-by-state rankings by Forbes here.