Essex Bank
Popular Accounts at this Bank
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 2.17% | 1-year CD | |
| 0.30% | Checking | 1.01% - nbkc bank Personal Account |
| 2.68% | 5-year CD |
Essex Bank is headquartered in Richmond and is the 17th largest bank in the state of Virginia. It is also the 581st largest bank in the nation. It was established in 1926 and as of June of 2018, it had grown to 266 employees at 25 locations. Essex Bank's money market rates are 5X the national average, and it has an A health rating.
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Excellent Service
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.
Poor Online Experience
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.
WORST BANK! I RATHER USE A PREPAID DEBIT CARD
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!
Data as of Q2 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 8675 |
| Year Established | 1926 |
| Employees | 266 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.98% |
| Return on Equity - YTD | 10.32% |
| Annual Interest Income | $28.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2018vs Q2 2017 | $1.35B$1.29B |
| Loans | Q2 2018vs Q2 2017 | $998.0MM$902.7MM |
| Deposits | Q2 2018vs Q2 2017 | $1.13B$1.08B |
| Equity Capital | Q2 2018vs Q2 2017 | $130.5MM$124.2MM |
| Loan Loss Allowance | Q2 2018vs Q2 2017 | $9.3MM$9.7MM |
| Unbacked Noncurrent Loans | Q2 2018vs Q2 2017 | $11.5MM$14.1MM |
| Real Estate Owned | Q2 2018vs Q2 2017 | $3.1MM$2.4MM |
Always verify rates and promotions with the bank or credit union. We are not Essex Bank; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
Essex Bank Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.50%* | $5k* | - | Health Savings Account (HSA) | ||
| OTHER TIERS: 0.10% → Up to $1k | 0.25% → $1k - $5k | |||||
| 0.50% | $500 | - | Variable Liquid IRA | ||
| 0.35%* | $50k* | - | Prosperity Savings | ||
| OTHER TIERS: 0.05% → $1k - $5k | 0.10% → $5k - $25k | 0.15% → $25k - $50k | |||||
| 0.25% | $5 | - | E-Kids Savings for Kids | ||
| 0.25% | $5 | - | Christmas Club | ||
Essex Bank Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 2.12%* | $5m* | - | Maximum Money Market | ||
| OTHER TIERS: 1.26% → $250k - $1m | 1.76% → $1m - $5m | |||||
| 0.35%* | $250k* | - | Prosperity Money Market | ||
| OTHER TIERS: 0.05% → Up to $5k | 0.10% → $5k - $25k | 0.15% → $25k - $50k | 0.25% → $50k - $250k | |||||
Essex Bank Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.30%* | $50k* | - | Cash Back Checking | ||
| OTHER TIERS: 0.10% → $1.5k - $25k | 0.20% → $25k - $50k | |||||
| 0.25% | $50 | - | Community First Checking | ||
Essex Bank CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.68% | $500 | - | 60 Month CD | |
| 2.45% | $500 | - | 19 Month CD Special | |
| 2.42% | $500 | - | 36 Month CD | |
| 2.17% | $500 | - | 13 Month CD Special | |
| 2.12% | $500 | - | 24 Month Flex CD | |
| 1.91% | $500 | - | 18 Month Flex CD | |
| 1.81% | $500 | - | 365 Day CD | |
| 1.41% | $2.5k | - | 365 Day No Penalty CD | |
| 1.10% | $500 | - | 14 Month Flex CD | |
| 1.00% | $500 | - | 182 Day CD | |
| 1.00% | $25 | - | 365 Day Steady Saver CD |
Essex Bank IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.68% | $500 | - | 60 Month IRA CD | |
| 2.45% | $500 | - | 19 Month IRA Special | |
| 2.42% | $500 | - | 36 Month IRA CD | |
| 2.17% | $500 | - | 13 Month IRA Special | |
| 2.12% | $500 | - | 24 Month Flex IRA CD | |
| 1.91% | $500 | - | 18 Month Flex IRA CD | |
| 1.81% | $500 | - | 365 Day IRA CD | |
| 1.10% | $500 | - | 14 Month Flex IRA CD | |
| 1.00% | $500 | - | 182 Day IRA CD |
