Washington Long-Term Care Act

UPDATE:  Governor Inslee Signs Amendments to WA Cares

You may have heard, the state passed, and Governor Inslee signed, updated regulations for the WA Cares LTC program 

Here is what the changes include: 

HB 1732

HB 1733

It expands those eligible to opt out of the WA Cares program.


The Washington state legislature passed the Long-Term Care Trust Act and Gov. Jay Inslee recently signed it into law, creating the “Washington Cares Fund.” The purpose of the new law, fund, and worker-funded tax is to help ensure the state’s aging population will have access to long-term care (LTC) services like lengthy hospital stays, assisted living, rehab facilities, and skilled nursing care if and when they need such services in the future.

If the idea of paying an additional, mandatory 0.58%, employee-funded payroll tax ($5.80 for every $1,000 of earnings) doesn’t sound appealing, there is good news. The WA Cares Fund includes provisions allowing workers to opt-out. To do so, you will need to purchase your own individual long-term care insurance policy no later than Oct. 31, 2021. That policy can be a standalone long-term care policy, or a life insurance policy or annuity with a long-term care rider. Regardless of its form, a private policy must provide for equal or better benefits than those available through the WA Cares Fund.

Additional Resources

http://www.wacaresfund.wa.gov/

https://www.insurance.wa.gov/what-qualifies-long-term-care-insurance

Liberty Bank Sponsorship

We’re proud to be a sponsor of Bellevue Rotary Foundation’s “Around the World” fundraiser this Year! For information, visit their website: https://bellevuerotary.net/bulletin-content/around-the-world-fundraiser/

Matt Hadlock Joins Liberty Bank

Vice President and IT Manager

“Having worked with the team at Liberty bank for a number of years as a contractor, I have seen firsthand what an asset this organization is to the community. I am thrilled to have joined fulltime, where I can share my expertise and knowledge about technology and cyber security.”

As manager of Liberty Bank’s information technology, Matt brings more than 20 years of experience helping businesses and their employees with technology. A specialist in cyber security and compliance, he is adept at working with Microsoft Windows desktops, networks, security, cloud computing and communications. In 2015 he sold his company, Proaction IT Management, and became chief information officer of Help Desk Cavalry, which purchased the company he started in 2002. A resident of Poulsbo, Matt has enjoyed a side gig as audio engineer for Bainbridge Performing Arts for more than 25 years.

New Mobile Banking App Upgrade

On Tuesday, June 15, 2021, your current mobile experience will change.

Here is what you can expect on your first login after the launch of our upgraded app.  Please read carefully and contact us if you have any questions.

Availability: On June 15th, in the early morning hours, a new version of the mobile banking app will be published to the Google Play and Apple App Store.  The old version of the app will stop working around 9:00 a.m. on June 15th.

Mobile App Links:

iPhone Users: https://apps.apple.com/us/app/id1516547970

Android Users: https://play.google.com/store/apps/details?id=com.api.lbbpwdroid

Touch ID or Face ID: If you currently use Touch ID or Face ID to login, the first time you open the new app you will have to use your Access ID and Passcode.  If you don’t know your Access ID and Passcode, we encourage you to call us to have it reset before June 15th.

After your app is updated, you will be able to set up your Touch ID or Face ID again to resume using this convenient and secure way to access your mobile banking. We apologize for any inconvenience.

Commercial App Users: The Commercial Mobile App is being combined with our standard mobile app for a more unified experience.  You will be required to remove the old commercial app and download the new app from the Apple or Google Play app stores.

iPhone Users:  For users that have automatic updates for apps turned on for their iPhone, the app should update in the background to the new version.  Due to preferences, device configuration and environment, you may have to go to the App Store and manually click the update button.

Android Users: You will be required to remove the old app and download the new version from the Google Play Store once it is available.  Users who attempt to access the old application will receive an error message.

Terms & Conditions: The first time that you open the new app, you will be presented with new Terms & Conditions to review and accept.

Your satisfaction is important to us, and we want to make certain that your new mobile experience is best in class.  If you have any questions or need assistance, please contact us at 360-779-4567.

KEDA Award Recipient

“The pandemic and economic crisis of 2020 presented enormous challenges and demanded an unprecedented response from government and industry.  Liberty Bank was recently recognized by the Kitsap Economic Development Authority (KEDA) for being an outstanding PPP lender, as measured by loans to Kitsap-based companies.  Rick Darrow, CEO of Liberty Bank, also points out, relative to the size of bank, Liberty Bank was the number one PPP lender in the state of Washington during 2020.”

https://kitsapeda.org/keda-celebrate-economic-champions-at-2021-annual-meeting/

COVID-19 Preparedness – Update

May 3, 2021 – Update to COVID-19

We would first and foremost like to send out a big “thank you” to all our customers.  You have been patient and supportive, as we all adjusted to rethinking how we continue to provide service and meet your financial needs. COVID-19 has had a profound impact on all of us, this past year.

We have missed having our customers come into the lobby to see us. The LB Team is eager to return to normalcy and with that, we are excited to tell you our reopening our lobby plans.  

Beginning Monday, May 17, 2021, our Poulsbo lobby will be reopening with revised hours to start, from 10:00am to 3:00pm. The Drive-up will continue to be available 9:00am to 5:00pm.

Beginning Monday, June 14, 2021, our Poulsbo lobby will be back open normal hours from 9:00am to 5:00pm.

Our Bellevue Loan Office will be “by appointment only”, until further notice.  You can contact us at 425-436-5705 or if you know the number to your favorite banker.

Our number one priority remains the health and safety of our employees and clients.  We want you to feel safe while visiting us in person.  For that reason, we will have the following protocols in place.

Remember, we will continue to have safe and convenient banking options available, such as our Drive-up, Night Drop, online and mobile banking.

Thank you for your business and we hope you and your family remain safe and healthy.

Liberty Bank Staff

November 17, 2020 – Update to COVID-19

As we continue to monitor the impact of COVID-19 in our communities, we want to provide an update on our commitment to serve you throughout this difficult time. This has been an extremely challenging year that has radically changed many aspects of our daily lives.  Here we are in November and we are still in the fight against COVID-19.

Following the latest proclamation by Governor Inslee on November 15, 2020, our Poulsbo branch lobby and our Bellevue office will continue to remain closed to the public. 

Our customers and employees are our highest priority and we are committed to providing services, resources and support to our customers while maintaining the safety and health of our employees. Our team has been working hard to navigate through COVID-19, going above and beyond to ensure the safety of staff, clients, and our communities. 

Please know the Liberty Bank team is here to assist you with your financial needs.  We encourage you to use our drive-up and digital/mobile banking tools. If you are not able to use our drive-up, or you need in-person assistance, please call us at 360-779-4567 and set up an appointment or just come to the front door of the Poulsbo branch.  We are keeping an eye out for anyone that may need additional services.  Strict COVID-19 protocols will need to be followed. 

The bank continues to follow the local, state and national news to help give us guidance as we try to balance the safety of our staff and servicing our customers.

Thank you for your patience as we work through this difficult time together and we appreciate your business.

All of us here at Liberty Bank hope you and your family continue to remain safe and protected from COVID-19.

August 5, 2020 – Update to COVID-19

As a result of social distancing recommendations around COVID-19, our lobby continues to remain closed to the public to keep our staff and customers safe. We will update this page once that changes. Meanwhile, on-site staff continue to work normal business hours to serve you.  We encourage all customers to do their in-person banking using our drive-up or night drop.  We encourage you to leverage our digital options; Online banking, Mobile banking, Mobile Deposit and Remote Deposit Capture. You can also access any ATM, surcharge-free, with your Liberty Bank Debit Card.

Scammers follow the headlines. Scammers are taking advantage of fears surrounding the Coronavirus.  Visit the Federal Trade Commission for tips to help you keep the scammers at bay:

https://www.consumer.ftc.gov/blog/2020/02/coronavirus-scammers-follow-headlines

For latest information and full list of recommendations about coronavirus, visit the https://www.cdc.gov/coronavirus/2019-ncov/

Thank you for your patience as we work through this difficult time together and we appreciate your business.

All of us here at Liberty Bank hope you and your family continue to remain safe and protected from COVID-19.

May 5, 2020 – Update to the COVID-19

As you know by now, Governor Inslee extended the “Stay Home, Stay Healthy” order until May 31, 2020. He also revealed a four-phase plan to safety reopen the state; Phase 1 begins today. Each phase is expected to last at least three weeks, the minimum amount of time public health experts believe is required to determine how the new level has impacted the transmissibility and impact of the virus.

We will continue to monitor the data and elements surrounding COVID-19.  For now, our lobby will remain closed to the public, to keep our staff and customers safe.  The staff on site are working normal business hours to serve you.  We encourage all customers to do their in-person banking using our drive-up or night drop.  We encourage you to leverage our digital options; Online banking, Mobile banking, Mobile Deposit and Remote Deposit Capture. You can also access any ATM, surcharge-free, with your Liberty Bank Debit Card.

Economic Stimulus Payments from the IRS continue to go out.  Please check your Online or Mobile banking for direct deposit.  It will appear like a tax refund credit entry from IRS TREAS 310. If you don’t have direct deposit set up with the IRS, paper checks will begin to be processed on April 20, with the first batch arriving the week of May 4th. Please note, it is the IRS that determines when payments are made, and we will not know which round you are in until we receive a payment for you.  Learn more by visit: https://www.irs.gov/coronavirus/economic-impact-payments

https://www.irs.gov/coronavirus/economic-impact-payment-information-center

Scammers follow the headlines. Scammers are taking advantage of fears surrounding the Coronavirus.  Visit the Federal Trade Commission for tips to help you keep the scammers at bay:

https://www.consumer.ftc.gov/blog/2020/02/coronavirus-scammers-follow-headlines

For latest information and full list of recommendations about coronavirus, visit the https://www.cdc.gov/coronavirus/2019-ncov/

Thank you for your patience as we work through this difficult time together and we appreciate your business.

All of us here at LB hope you and your family continue to remain safe and protected from COVID-19.

April 13, 2020 – Update to the COVID-19

As we live through these unprecedented times, we want you to know that we are as committed as ever to delivering excellent customer service. We understand this is an incredibly stressful time for you. Please know that the health and safety of our staff and customers remain our top priority, in addition to meeting our customers financial needs.

Our lobby remains closed to the public; however, we are operating under normal business hours through our Drive-up and Night Drop services.  We encourage you to leverage our digital options; Online banking, Mobile banking, Mobile Deposit and Remote Deposit Capture. You can also access any ATM, surcharge-free, with your Liberty Bank Debit Card.

The response and applications we’ve received for the SBA Paycheck Protection Program, has been overwhelming. As phone call volumes and emails remain high, we appreciate your continued patience, as we work hard to serve our customers and community businesses.

Economic Stimulus Payments from the IRS are scheduled to begin arriving in bank accounts April 15-29. Please check your Online or Mobile banking for direct deposit.  It will appear like a tax refund credit entry from IRS TREAS 310. If you don’t have direct deposit set up with the IRS, paper checks will begin to be processed on April 20, with the first batch arriving the week of May 4th. Please note, it is the IRS that determines when payments are made, and we will not know which round you are in until we receive a payment for you.  Learn more by visiting these websites:

https://www.irs.gov/coronavirus/economic-impact-payments

https://www.irs.gov/coronavirus/economic-impact-payment-information-center

For latest information and full list of recommendations about coronavirus, please visit:  https://www.cdc.gov/coronavirus/2019-ncov/

We appreciate your business and patience.

We hope you and your family continue to remain safe and protected from COVID-19.

Liberty Bank Staff

April 6, 2020 – Update to the COVID-19

We know these are challenging times.  We’re feeling it too.  And every day, our employees are committed to helping our customers, because we are passionate about our customers and communities. We are in this together, and we’ll continue to provide the service, resources, and information to help you navigate this unprecedented time.

The Governor’s “Stay Home, Stay Safe” mandate has been extended through at least May 4th.  For this reason, our lobby will remain closed to the public. We are considered an “essential” business and we are here and ready to serve you through our Drive-up, Night Drop, Online Banking, Mobile Banking and Remote Deposit Capture.  Remember that you can use any ATM to get cash, with no charge from us.

Please be aware of predators, attempting to take advantage of the current situation.  We have provided a link to the Federal Trade Commission, to give you additional information, to keep you safe.

https://www.consumer.ftc.gov/features/coronavirus-scams-what-ftc-doing

On April 2, 2020, the FDIC published a Consumer News: COVID-19 and Your Financial Health with information about “Keep yourself and your money safe”.  You can find that document by visiting: https://www.fdic.gov/consumers/consumer/news/covid-19.pdf

We appreciate your patience, as phone and email volumes may be higher than usual during this time.

We hope you and your family continue to remain safe and protected from COVID-19.

LB Staff

March 30, 2020 – Update to the COVID-19

As previously communicated, Liberty Bank is actively monitoring and responding to the outbreak.

ALERT! Scammers are taking advantage of fears surrounding the coronavirus, from fake CDC emails, Phishing emails, counterfeit treatments or equipment. The Federal Trade Commission and FDIC have established websites with helpful information to help consumers avoid COVID-19 related scams.  We have these website links available to you under News & Resources on our website www.libertybanknw.com.

Liberty Bank remains vigilant in practicing the recommended safeguards against the Coronavirus, with our staff and customers. Our lobby will remain closed to the public, the week of March 30, 2020.  We will continue to have staff on site and remain committed and ready to serve customers.

We encourage our customers to utilize electronic banking methods, including online banking, Cash Management, Remote Deposit Capture, mobile app, and depositing checks using mobile deposit capture.  Remember that you can use any ATM to get cash, with no charge from us.

We sincerely thank you for your support and partnership as we face these challenges together and hope you and your family remain safe and protected from COVID-19.

LB Staff

March 20, 2020 – Update to the COVID-19

As the global impact of the COVID-19 continues to rise, our thoughts are with our employees, customers and community during this unprecedented time.  We hope you all remain safe and stay strong.  We’re all in this together.

Here at Liberty Bank, our top priority is the health and well-being of our employees and customers.  We continue to monitor federal, state and local advisories and have implemented strict precautionary measures to help keep our branch and office staff safe. 

Our lobby will remain closed to the public, the week of March 23, 2020.  We will continue to have staff on site and remain committed and ready to serve customers.

We encourage our customers to utilize electronic banking methods, including online banking, Cash Management, Remote Deposit Capture, mobile app, and depositing checks using mobile deposit capture.  Remember that you can use any ATM to get cash, with no charge from us.

During this time of great uncertainty, we would like to encourage everyone to support each other.  Stay safe, remain positive, and be well.

Thank you for your loyalty, We’re here for you!

Sincerely,

LB Staff

March 16, 2020 – Update to the COVID-19.

We want to update you on our measures to keep our staff, customers, and community safe and healthy. 

Liberty Bank is taking precautionary measures to safeguard you and the communities we serve.  Our team is preparing to have some staff members work remotely.  To minimize human to human contact and further protect against the spread of the virus, we will close our lobby to the public, starting March 17, 2020.

There will still be staff on site to assist you through the Drive-up, the Night Drop (located inside the first double doors) and on the phone.

We encourage our customers to utilize electronic banking methods, including Online Banking, Cash Management, Remote Deposit Capture, Mobile App, and depositing checks using Mobile Deposit Capture.  Remember that you can use any ATM to get cash, with no charge from us.

At this time, we are keeping normal business hours, it’s only our lobby that is closed. 

The welfare of our customers and staff is of utmost importance to us.  Kitsap Public Health recommends all community members take steps to prevent the spread of COVID-19 and other respiratory illnesses:

For more information and the full list of recommendations from the CDC, please see the Centers for Disease Control (CDC) guidelines or refer to the links below:

https://kitsappublichealth.org/

https://www.cdc.gov/

https://www.governor.wa.gov/

https://www.who.int/

If you have any questions about your accounts, you can send us an email at customerservice@libertybanknw.com or call us during normal business hours at 360-779-4567.

We apologize for this inconvenience but appreciate your understanding that our top priority remains the health and safety of our communities.

SBA To Provide Small Businesses Impacted by Coronavirus (COVID-19) Up to $2 Million in Disaster Assistance Loans

Disaster Loan Assistance: https://disasterloan.sba.gov/ela/

WASHINGTON – SBA Administrator Jovita Carranza issued the following statement today in response to the President’s address to the nation:

“The President took bold, decisive action to make our 30 million small businesses more resilient to Coronavirus-related economic disruptions. Small businesses are vital economic engines in every community and state, and they have helped make our economy the strongest in the world. Our Agency will work directly with state Governors to provide targeted, low-interest disaster recovery loans to small businesses that have been severely impacted by the situation. Additionally, the SBA continues to assist small businesses with counseling and navigating their own preparedness plans through our network of 68 District Offices and numerous Resource Partners located around the country. The SBA will continue to provide every small business with the most effective and customer-focused response possible during these times of uncertainty.”

Process for Accessing SBA’s Coronavirus (COVID-19) Disaster Relief Lending

For additional information, please contact the SBA disaster assistance customer service center. Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail disastercustomerservice@sba.gov.

Liberty Northwest Bancorp, Inc. Completes Subordinated Note Offering

Poulsbo, Wash. (March 30, 2021): Liberty Northwest Bancorp, Inc. (the “Company”), the holding company for Liberty Bank, announced that it has completed a private placement of $5 million in aggregate principal amount of fixed-to-floating rate subordinated notes to certain qualified institutional accredited investors. The Company will use the proceeds for general banking purposes with an emphasis on supporting the growth of the holding company and the Bank. 

The notes will initially accrue at an annual fixed interest rate of 5.50% until April 2026.  Thereafter, the notes will reset quarterly to an annual floating rate equal to 90-day average secured overnight financing rate plus 500 basis points until maturity in April 2031, or an earlier redemption date. The Company may redeem the notes, in whole or in part, after April 2026.  Any redemption will be at a redemption price equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest.  The notes are not subject to redemption at the option of the holders. 

“We are pleased to have raised this private placement to continue to invest in Liberty Bank,” said Richard C. Darrow, CEO of Liberty Bank and President and CEO of Liberty Northwest Bancorp, Inc. “This is a strong statement about the confidence in our growing bank, which continues to serve the markets of Kitsap County with our Poulsbo branch and across Puget Sound on the Eastside of Lake Washington with our Bellevue office.”  

Keller Rohrback LLP served as counsel to Liberty Northwest Bancorp, Inc., and MJC Partners, LLC, served as the sole placement agent for the offering.

Liberty Northwest Bancorp, Inc. was established in 2020 as a single bank holding company for its Washington state-chartered bank subsidiary Liberty Bank.

Liberty Bank, headquartered in Poulsbo, serves clients throughout the West Sound and Puget Sound regions. Liberty Bank is a full-service community bank committed to highly personalized service and to reinvesting in the communities it serves. The bank provides loans and professional banking solutions to businesses, non-profits, and consumers. For more information, go to https://www.libertybanknw.com or call 360-779-4567.

About MJC Partners, LLC is a leading Los Angeles-based boutique investment banking and advisory firm providing a full range of strategic, transactional and valuation-related services to clients across multiple industry groups with a focus on financial services. For more information visit www.mjcpartners.com.

Forward Looking Statements

This news release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, and Liberty Northwest Bancorp, Inc. and Liberty Bank (together, the “Company”) intend for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely.

Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. Forward-looking statements involve significant risks and uncertainties and actual results may differ materially from those presented, either expressed or implied, in this news release. Factors that might cause such differences include, but are not limited to: the Company’s ability to successfully execute its business plans and achieve its objectives; changes in general economic and financial market conditions, either nationally or locally, in areas in which the Company conducts its operations; changes in interest rates; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; increased competitive challenges and expanding product and pricing pressures among financial institutions; legislation or regulatory changes which adversely affect the Company’s operations or business; loss of key personnel; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies.

The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.

This announcement is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy securities.

Accellion Data Security Breach

02/05/2021 – If you applied for unemployment or were a victim of unemployment fraud, during 2020, you will want to read this alert.

The Office of the Washington State Auditor (SAO) used the online services company Accellion to transfer data.  A security incident at Accellion may have allowed unauthorized access to data being used by SAO.  The link below will take you to the SAO website, where you can learn about the incident, what you can do to protect your data, and about the SAO’s next steps.

https://sao.wa.gov/breach2021/

Galina Georgieva Joins Liberty Bank

November 16, 2020 – Relationship Manager/Poulsbo Office

“I love living in a small friendly town and being part of such a great community. It is my pleasure to be able to help and support our community through my banking knowledge and experience and through my volunteering efforts. Liberty Bank is such a wonderful community bank, and I am excited to be part of this amazing team.”

Galina takes on the role of Relationship Manager at Liberty Bank’s Poulsbo branch after honing her banking skills at Islanders Bank on Orcas Island. She has worked as a teller, customer service specialist, operations supervisor, credit analyst and consumer loan officer, managing the bank’s consumer portfolio and being responsible for annual loan reviews and renewals. She also worked to approve new consumer loan requests and assisted commercial loan officers. Galina earned her BA in business administration from South-West University in Bulgaria. In addition to English, she fluently speaks German and Bulgarian. In 2018 Galina completed the credit analyst development program offered by the Washington Bankers Association. A resident of Poulsbo, Galina enjoys working out, spending time with her family, and traveling in her spare time. She has volunteered for many different non-profit organizations, including Orcas Island Lions Club, Domestic Violence and Sexual Assault Services of San Juan Islands (DVSAS), and her daughter’s preschool.

Pandemic Scams

During this pandemic and with the holiday shopping season, we are seeing an increase in cybercrime.  We care about your financial security and we want you to enjoy peace of mind, while still enjoying the convenience of the digital age.  Here are a few tips to help you keep your information secure:

Log Out:  Any time you finish using online banking, always log out.

Protect Your Passwords: Never share your passwords, especially over unprotected internet or Wi-Fi networks. 

Trust Your Gut: Never open texts or emails that seem suspicious, especially if it’s from a person or business you don’t know, or if you did not initiate the conversation.  Always go directly to known and trusted sites.

Never Share Your Information: Criminals will try to trick you into revealing private information so they can steal your money and/or your identity.  Never give them your information.  If you receive a call from someone claiming to be from Liberty Bank, requesting information, or access to your computer, call us immediately.  Beware of fake calls from Apple and Amazon support.

Please refer to the Federal Trade Commission site for the latest scams and on how to file a fraud report, if you do become a victim.  https://www.ftc.gov/