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  2. Essex Bank

Essex Bank

Popular Accounts at this Bank

APYACCOUNT TYPEACCOUNT NAME
0.30%CheckingCash Back Checking
1.25% - Bank of Internet USA Rewards Checking
1.56%5-year CD60 Month CD
2.35% - Synchrony Bank 60 Month CDAdvertisement
0.35%1-year CD365 Day Steady Saver CD
1.45% - CIT Bank 11-Month No-Penalty CD
View all Essex Bank rates »

Overview / Commentary
www.essexbank.com
804-443-8500
9954 Mayland Drive
Richmond, VA 23233

Essex Bank is headquartered in Richmond and is the 19th largest bank in the state of Virginia. It is also the 598th largest bank in the nation. It was established in 1926 and as of June of 2017, it had grown to 258 employees at 25 locations. Essex Bank's CD rates are 34% higher than the national average, and it has a B+ health rating.

Related Posts

Essex Bank (VA/MD) Adds 13-Month CD Promo Rate With Checking - 10/1/2016

Essex Bank (VA/MD) has a 13-Month CD Promo Rate (1.50% APY) when opened with a Cash Back Checking account; without Cash Back Checking, the APY is 1.30%.

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Reviews (2)

Poor Online Experience

Posted by: csa13 | Oct 30, 2016

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.

1

WORST BANK! I RATHER USE A PREPAID DEBIT CARD

Posted by: Thatis Mrthot Toyou | Jan 1, 2015

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!

1


Health
B+

Data as of Q2 2017

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #8675
Year Established1926
Employees258
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.88%
Return on Equity - YTD9.26%
Annual Interest Income$26.2MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$1.29B$1.19B
LoansQ2 2017vs Q2 2016$902.7MM$831.6MM
DepositsQ2 2017vs Q2 2016$1.08B$959.1MM
Equity CapitalQ2 2017vs Q2 2016$124.2MM$117.8MM
Loan Loss AllowanceQ2 2017vs Q2 2016$9.7MM$9.9MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$14.1MM$16.4MM
Real Estate OwnedQ2 2017vs Q2 2016$2.4MM$4.9MM
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Essex Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*$5k*-Health Savings Account (HSA)
OTHER TIERS: 0.10% → Up to $1k | 0.25% → $1k - $5k
0.35%*$50k*-Prosperity Savings
OTHER TIERS: 0.05% → $1k - $5k | 0.10% → $5k - $25k | 0.15% → $25k - $50k
0.35%*$50k*-Business Prosperity Savings
OTHER TIERS: 0.05% → $1k - $5k | 0.10% → $5k - $25k | 0.15% → $25k - $50k
0.25%--E-Kids Savings for Kids
0.25%--Christmas Club
0.25%$500-Variable Liquid IRA

Essex Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
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
0.35%*$250k*-Business 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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%*$50k*-Cash Back Checking
OTHER TIERS: 0.10% → $1,500 - $25k | 0.20% → $25k - $50k
0.25%$50-Community First Checking
0.25%$50-Business Community First Checking

Essex Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.56%$500-60 Month CD
1.26%$500-36 Month-One Time Bump CD
1.21%$500-365 Day CD
1.10%$500-14 Month Flex CD
1.10%$500-18 Month Flex CD
1.10%$500-24 Month Flex CD
0.90%$500-13 Month CD
0.75%$2,500-365 Day No Penalty CD
0.40%$500-182 Day CD
0.35%$25-365 Day Steady Saver CD

Essex Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.56%$500-60 Month IRA CD
1.36%$500-36 Month IRA CD
1.21%$500-24 Month Flex IRA Special
1.21%$500-365 Day IRA Special
1.15%$500-18 Month Flex IRA Special
1.10%$500-14 Month Flex IRA CD
0.90%$500-13 Month IRA CD
0.75%$500-182 Day IRA CD
Locations

Availability