The Latest | March 2026
Chairman’s Message
Strong Leadership. Shared Values. A Bright Future.
At Liberty Bank for Savings, leadership continuity and long-term commitment have always been part of who we are. I’m pleased to share an important milestone in our ongoing story.
At our January Board meeting, Timothy “Tim” Smigiel was named President of Liberty Bank for Savings. Tim’s journey with
Liberty began while he was still in high school, starting as a teller. Over the years, he has worked across operations, lending, and human resources—gaining a hands-on understanding of every corner of our organization. Most recently serving as Chief Operating Officer, he has played a key role in guiding our daily operations, strengthening internal processes, and supporting the bank’s continued growth.
What makes this moment especially meaningful is not just Tim’s new title, but what it represents. His promotion reflects our Board’s confidence in experienced leadership, long-term stability, and a deep understanding of the communities we serve. Tim knows Liberty from the ground up—and he knows that our strength lies in relationships, trust, and local decision-making.
As President, Tim will oversee the bank’s strategic initiatives and day-to-day leadership in partnership with our executive team. I will continue in my role as Chairman and CEO, ensuring continuity as we look ahead.
While titles may change, our commitment does not. Liberty Bank remains dedicated to providing personalized service, supporting our neighborhoods, and helping our customers achieve financial security.
Thank you for the trust you place in us. We are proud to continue serving you—with experienced leadership and the same values that have guided Liberty since 1898.
William J. Smigiel
Chairman and CEO
Liberty Bank for Savings
3 Simple IRA Tax Benefits
If you’re still finalizing your taxes, there’s still time to make thoughtful IRA choices that may help reduce stress and bring more clarity to your tax planning. A few simple IRA moves can support both short-term tax decisions and long-term financial confidence — and you can still make 2025 IRA contributions until the April 15 filing deadline.
1. Traditional IRA contributions may lower your taxable income
Contributions to a Traditional IRA may be tax-deductible, depending on your income and whether you or your spouse are covered by a workplace retirement plan. That deduction can reduce your taxable income for the year and potentially lower your tax bill.
2. Roth IRAs can support long-term tax stability
While Roth IRA contributions aren’t deductible, qualified withdrawals in retirement are tax-free. Over time, this can help create more predictable, flexible income. Some retirees also choose to convert Traditional IRA assets to a Roth IRA as part of a longer-term tax planning strategy.
3. Contributing early can make tax season easier
Making IRA contributions earlier in the year can simplify budgeting and reduce last-minute decisions during tax season. It also gives your savings more time to grow.
A quick note on deadlines
IRA contributions are tied to the tax year, not the calendar year. That means you can make a 2025 contribution up until April 15 — even though the calendar year has already ended.
Want to learn more? Talk with an IRA Specialist.
1-Year IRA CD – 3.50% Annual Percentage Yield
Earn a competitive rate while funding your 2025 IRA contribution before the April 15 deadline.
Our Liberty Community
Park Ridge Community Fund
A Longstanding Partnership Focused on Local Care
For more than 20 years, Liberty Bank for Savings has proudly partnered with the Park Ridge Community Fund to support neighbors in times of need — guided by shared values of compassion, community, and care. Our latest blog highlights one example of the many local organizations the Fund supports.
One tradition that brings that partnership to life each year is our annual screening of It’s a Wonderful Life. Now in its 20th year, the event is more than a holiday movie screening — it’s a reminder that small acts of kindness can make a meaningful difference close to home. Proceeds from the event help the Park Ridge Community Fund provide financial assistance to organizations that support local residents experiencing hardship, ensuring support stays right here in our community.
“For 20 years, Liberty Bank has been a committed partner in helping the Park Ridge Community Fund meet real needs in our community,” said Jackie Mathews, Board Secretary and Executive Director of the Park Ridge Community Fund. “Their continued support allows us to invest in local organizations and provide meaningful assistance to neighbors when it’s needed most.”
That local impact is felt through the many organizations the Fund supports, including Have Dreams, a Park Ridge–based not-for-profit that helps individuals with autism and their families build skills, confidence, and independence. Have Dreams has been a beneficiary of the Park Ridge Community Fund for more than a decade, reflecting the Fund’s commitment to supporting neighbors with diverse needs across our community.
“The Park Ridge Community Fund has been a steadfast supporter of Have Dreams for over a decade, partnering through valuable grant support to help realize Have Dreams’ mission and work supporting individuals with autism and their families in Park Ridge and the greater Chicagoland community,” — Bobbi Frazes Goldman, Director of Development, Have Dreams
At Liberty Bank, supporting the Park Ridge Community Fund means standing alongside our neighbors — not just during the holidays, but all year long. We’re proud to continue this partnership and to help support organizations doing important work across our community.
Your Questions, Answered.
How eStatements Add an Extra Layer of Security
By David Kreiman, Chief Experience Officer
Did you know that one of the most common sources of fraud begins with mail theft? If you’re still receiving account statements by mail—whether from Liberty or another company—we strongly encourage switching to eStatements.
Mail theft has increased significantly, including theft from mailboxes near post offices and while mail is en route to homes. Choosing eStatements helps keep your personal information out of the postal system and adds an extra layer of protection.
You can enroll in eStatements while logged into online banking. Want eStatements but prefer not to bank online? No problem—you can enroll in eStatements-only directly through our website.
Once enrolled, you will receive an email notification (without any sensitive information) each time your account statement is available. You can log in and securely view, save and print up to 18-months of statements online. You’ll get your statements sooner and reduce paper waste.
Have questions about eStatements? Learn more and enroll on our dedicated eStatements webpage.
Have More Questions?
If you have questions about Liberty Bank or one of its services, please visit Liberty Bank’s Feedback page and share your thoughts. Then look for this Q&A for the most common questions in every issue of The Latest e-newsletter. Or, for a more immediate response, you can contact our Senior Vice President – Chief Experience Officer David Kreiman directly at 773.489.4624 or [email protected].
Your Generosity at Work
Thank you to everyone who supported our Winter Sock Drive. Together, we collected more than 1,600 pairs of new socks, now distributed to five local shelters to provide warmth and comfort to individuals and families in need.
The nonprofit organizations supported include:
- Salvation Army – Norridge
- Connections for the Homeless – Evanston
- The Harbour – Park Ridge
- La Casa Norte – Logan Square
- Children’s Place Association – Logan Square
In addition to sock donations, our employees contributed $680 in monetary donations, which Liberty Bank proudly matched. Connections for the Homeless and La Casa Norte received the additional funds to further support their programs and services.
Your generosity truly makes a difference. Thank you for helping bring comfort and connection to our community.
We Want to Hear from You
Have a question, idea for a future topic or seminar, or feedback to share? We’d love to hear from you. Share your thoughts.
