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804-443-9999
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 590th largest bank in the nation. It was established in 1926 and as of December of 2017, it had grown to 264 employees at 25 locations. Essex Bank's CD rates are 2X the national average, and it has an A health rating.

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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.

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!



Health

Health Grade Components

Overall
FDIC Certificate #8675
Year Established1926
Employees264
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.59%
Return on Equity - YTD6.13%
Annual Interest Income$53.3MM
Assets and Liabilities
AssetsQ4 2017vs Q4 2016$1.34B$1.25B
LoansQ4 2017vs Q4 2016$977.2MM$878.6MM
DepositsQ4 2017vs Q4 2016$1.10B$1.04B
Equity CapitalQ4 2017vs Q4 2016$126.2MM$117.4MM
Loan Loss AllowanceQ4 2017vs Q4 2016$9.2MM$9.7MM
Unbacked Noncurrent LoansQ4 2017vs Q4 2016$11.3MM$12.5MM
Real Estate OwnedQ4 2017vs Q4 2016$2.8MM$4.4MM
Rates
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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

APYMINMAXACCOUNT NAMEVIEW 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%--E-Kids Savings for Kids
0.25%--Christmas Club

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

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

Essex Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.68%$500-60 Month CD
2.42%$500-36 Month CD
2.12%$500-24 Month Flex CD
2.02%$500-19 Month CD Special
1.91%$500-18 Month Flex CD
1.86%$500-13 Month CD Special
1.81%$500-365 Day CD
1.41%$2,500-365 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

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.68%$500-60 Month IRA CD
2.42%$500-36 Month IRA CD
2.12%$500-24 Month Flex IRA CD
2.02%$500-19 Month IRA Special
1.91%$500-18 Month Flex IRA CD
1.86%$500-13 Month IRA Special
1.81%$500-365 Day IRA CD
1.10%$500-14 Month Flex IRA CD
1.00%$500-182 Day IRA CD
Locations

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