| Liberty Bank has announced that it has collected Letters of Intent of over $6 million — marking the halfway point to its capital fundraising goals of $12 million. This milestone has been reached in just over three months since the bank in organization received its application acceptance from the FDIC and was cleared to begin seeking shareholders.
“This is a very exciting step forward and brings us that much closer to opening our doors and satisfying our goals of serving the community’s banking needs,” said Bill Fogarty, CEO. Liberty Bank, which is still in the process of receiving final application approval from the FDIC, has been accepting Letters of Intent from potential shareholders since late last year.
“The support from the community has been incredible as evidenced by the fact that many of our shareholders are from Kitsap County. People want a locally-owned and operated banking option that they can be assured has the best interest of their personal and business finances at heart,” said Fogarty.
This bank-in-organization will be allowed to begin collecting on the Letters after final application approval is received from the FDIC. Fogarty expects that this will come within the next several weeks and in plenty of time to stay on track to open by the end of the spring.
Liberty Bank shareholder receptions are scheduled for every Tuesday from 6-7 p.m. in April at the Holiday Inn Express located at 19801 17th Ave. NE in Poulsbo. Non-binding Letters of Intent will be available for potential shareholders. Minimum investment is $20,000. Reservations are appreciated, but not required. For more information or to make a reservation, call (360) 779-4567. More information about investing in Liberty Bank can be found at www.libertyorganizersinc.com.
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