Weekly Rate Spotlight - Liberty Bank & Trust Offering 1.31% APY Savings Account Rate

Weekly Rate Spotlight - Liberty Bank & Trust Offering 1.31% APY Savings Account Rate

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This week, I'm going to spotlight Liberty Bank & Trust, a 22 branch bank headquartered in New Orleans. Liberty is offering a 1.31% APY savings account with a $50 minimum balance.

It's getting harder and harder to find a savings account rate above 1% APY, but we've found them. This week, I'm going to spotlight Liberty Bank & Trust, a 22 branch bank headquartered in New Orleans. Liberty is offering a 1.31% APY savings account with a $50 minimum balance. That's pretty good considering the highest online rate is 0.95% APY and the average savings rate across the country is 0.20% APY.

Liberty Bank & Trust has a strange branch network, with a cluster of branches in the New Orleans area, a branch in Kansas City, MO, and one in Detroit, MI. View Liberty Bank & Trust's branch locations. This geographic spread is the result of several bank acquisitions, including the purchase of Home Federal Savings in Detroit, Michigan. Liberty has put together a nice video that highlights the bank and its history. The section on surviving and gowing after Hurricane Katrina was especially interesting - 6 of their branches flooded and the rest were looted.

The bank's financials look pretty sound. After spiking to 24% in 2009, the bank's Texas Ratio has dropped to 12.2%. The national average Texas Ratio is 20.28% and the lower the ratio the better (read more about the Texas Ratio). Liberty has just about doubled its assets from $290 million in 2006 to $571 million in 2011.

If you don't live near a Liberty Bank & Trust branch, BestCashCow can help you find a great savings rate in your area.

  • Find other great savings rates in your local area by clicking on the "Savings" tab above.

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