Essex Bank is headquartered in Richmond and is the 19th largest bank in the state of Virginia. It is also the 597th largest bank in the nation. It was established in 1926 and as of September of 2020, it had grown to 245 employees at 24 locations. Essex Bank has an A health rating.
I have been a customer since 2013 and have found every encounter to be positive: staff contacts and surroundings have been pleasant, positive events. I agree that the online stuff is not smooth so I avoid it and visit the bank personally. Staff have been extremely helpful at every level, and I have already recommended to friends who live near a branch.
We have been Essex customers/account holders since they acquired Bank of Goochland. The online experience is very clunky. Our son has had an adult account for over a year and he still cannot set up an online account. We tried again tonight, and the web page returned "service not available." The IT department is abysmal and has never improved. The number of frustrations and let downs have far outnumbered the "home town" benefits of this bank. Cannot recommend.
No one answers the customer service number when you need help! No one contacts you back when you leave messages! Their direct deposit processing is late, you won't get paid on your payday! The bank is VERY inconvenient, VERY limited in their banking options and VERY misleading! I would discourage my worst enemy from banking here, because NO ONE deserves this type of amateur and incompetent handling of their money!
Overall | |
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FDIC Certificate # | 8675 |
Year Established | 1926 |
Employees | 245 |
Primary Regulator | FED |
Profit Margin | |
---|---|
Return on Assets - YTD | 0.92% |
Return on Equity - YTD | 8.61% |
Annual Interest Income | $47.2MM |
Assets and Liabilities | ||
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Assets | Q3 2020vs Q3 2019 | $1.62B$1.42B |
Loans | Q3 2020vs Q3 2019 | $1.19B$1.06B |
Deposits | Q3 2020vs Q3 2019 | $1.37B$1.18B |
Equity Capital | Q3 2020vs Q3 2019 | $169.2MM$155.1MM |
Loan Loss Allowance | Q3 2020vs Q3 2019 | $12.5MM$8.5MM |
Unbacked Noncurrent Loans | Q3 2020vs Q3 2019 | $5.0MM$7.0MM |
Real Estate Owned | Q3 2020vs Q3 2019 | $4.4MM$4.7MM |
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
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0.30%* | $50k* | - | Cash Back Checking | ||
OTHER TIERS: 0.10% → $1.5k - $25k | 0.20% → $25k - $50k | |||||
0.15% | $50 | - | Business Community First Checking |