Liberty Bank and Trust Co., a black-owned institution, has been named 1997 Financial Company of the Year by Black Enterprise magazine.

The magazine said it chose the $135 million-asset bank because of its successful expansion efforts, reputation in the community, and status as a leading Federal Housing Administration and Veterans Administration mortgage lender.

The 25-year-old bank was also recognized for its recovery from the oil bust of the 1980s and the ensuing recession.

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