Essex Bank

Overview / Commentary
9954 Mayland Drive
Richmond, VA 23233

Essex Bank is headquartered in Richmond and is the 18th largest bank in the state of Virginia. It is also the 580th largest bank in the nation. It was established in 1926 and as of December of 2019, it had grown to 245 employees at 24 locations. Essex Bank's money market rates are 2X the national average, and it has an A health rating.

Related Posts

View all posts from:

Reviews (3)

Excellent Service

Posted by: |

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

Posted by: |

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!


Health Grade Components

FDIC Certificate #8675
Year Established1926
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.15%
Return on Equity - YTD10.89%
Annual Interest Income$65.4MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$1.43B$1.39B
LoansQ4 2019vs Q4 2018$1.08B$1.02B
DepositsQ4 2019vs Q4 2018$1.16B$1.17B
Equity CapitalQ4 2019vs Q4 2018$158.5MM$139.0MM
Loan Loss AllowanceQ4 2019vs Q4 2018$8.6MM$9.1MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$6.8MM$11.3MM
Real Estate OwnedQ4 2019vs Q4 2018$4.5MM$1.1MM
Report an Issue

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

0.25%--E-Kids Savings for Kids
0.25%--Christmas Club
0.20%*$50k*-Prosperity Savings
OTHER TIERS: 0.05% $1k - $5k | 0.10% $5k - $25k | 0.15% $25k - $50k
0.20%*$50k*-Business Prosperity Savings
OTHER TIERS: 0.05% $1k - $5k | 0.10% $5k - $25k | 0.15% $25k - $50k
0.15%*$5k*-Health Savings Account (HSA)
OTHER TIERS: 0.05% Up to $1k | 0.10% $1k - $5k

Essex Bank Money Market Rates

1.00%*$5m*-Maximum Money Market
OTHER TIERS: 0.25% $250k - $1m | 0.75% $1m - $5m
0.25%*$250k*-Prosperity Money Market
OTHER TIERS: 0.05% Up to $5k | 0.10% $5k - $25k | 0.15% $25k - $50k | 0.20% $50k - $250k
0.25%*$250k*-Business Prosperity Money Market
OTHER TIERS: 0.05% Up to $5k | 0.10% $5k - $25k | 0.15% $25k - $50k | 0.20% $50k - $250k

Essex Bank Checking Account Rates

0.30%*$50k*-Cash Back Checking
OTHER TIERS: 0.10% $1.5k - $25k | 0.20% $25k - $50k
0.25%$50-Business Community First Checking

Essex Bank CD Rates

1.00%$500-60 Month CD
0.75%$500-36 Month CD
0.60%$500-24 Month Flex CD
0.55%$500-18 Month Flex CD
0.55%$500-19 Month CD
0.50%$25-365 Day Steady Saver CD
0.50%$500-365 Day CD Special
0.45%$500-14 Month Flex CD
0.40%$2.5k-365 Day No Penalty CD
0.40%$500-182 Day CD Special
0.25%$500-91 Day CD

Essex Bank IRA Rates

1.00%$500-60 Month IRA CD
0.75%$500-36 Month IRA CD
0.60%$500-24 Month Flex IRA CD
0.55%$500-18 Month Flex IRA CD
0.55%$500-19 Month IRA CD
0.50%$500-365 Day IRA CD
0.45%$500-14 Month Flex IRA CD
0.40%$500-182 Day IRA CD
0.30%$500-1 Month Variable Liquid IRA
0.25%$500-91 Day IRA


The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.