Essex Bank

Essex Bank is headquartered in Tappahannock and is the 19^st largest bank in the state of Virginia. It is also the 596^th largest bank in the nation. It was established in 1926 and as of March of 2012, it had grown to 261 employees at 24 locations. Essex Bank has a 3-star health rating.

Essex Bank Routing Number: 051406909

Data for Q1 2012

Institution Statistics Essex Bank FDIC Certificate # 8675 BankRate Report View Year Established 1926 Employees 261 Primary Regulator FED Assets and Liabilities Assets $1.10 billion Loans $629.44 million Deposits $944.46 million Equity Capital $113.74 million Loan Loss Allowance $14.40 million Unbacked Noncurrent Loans $26.03 million Real Estate Owned $12.70 million Historic Data - March 2011 Assets $1.08 billion Equity Capital $108.24 million Loan Loss Allowance $22.37 million Unbacked Noncurrent Loans $42.32 million Real Estate Owned $7.33 million Profit Margin - Quarterly Net Interest Margin 4.75% Return on Assets 0.37% Return on Equity 3.6% Interest Income $13.82 million

Institution Health Overall Score: 3 out of 5 Texas Ratio The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of March 31, 2012 Essex Bank had $38.73 million in non-current loans and owned real-estate with $128.13 million in equity and loan loss allowances on hand to cover it. This gives Essex Bank a Texas Ratio of 30.23% which is below average. Any bank with a Texas Ratio near or greater than 100% is considered at risk. Texas Ratio Trend The Texas Ratio for Essex Bank decreased slightly from 38.02% as of March 31, 2011 to 30.23% as of March 31, 2012, resulting in a positive change of 20.49%.This indicates that the balance sheet and financial strength for Essex Bank has improved slightly in recent periods. Deposit Growth In the past year, Essex Bank has increased its total deposits by $14.08 million, resulting in 1.51% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Essex Bank has shown is above average. Capitalization Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Essex Bank has $1.1 billion in assets with $128.13 million in equity, resulting in a capitalization level of 11.63%, which is above average.

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