Essex Savings Bank

Overview / Commentary

www.essexsavings.com

860-767-2573

35 Plains Road
Essex, CT 06426

Essex Savings Bank is headquartered in Essex and is the 23^rd largest bank in the state of Connecticut. It is also the 1,697^th largest bank in the nation. It was established in 1851 and as of December of 2019, it had grown to 123 employees at 8 locations. Essex Savings Bank has a B health rating.

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Health

Data as of Q4 2019

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Health Grade Components

Overall
FDIC Certificate #	17262
Year Established	1851
Employees	123
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	0.69%
Return on Equity - YTD	5.5%
Annual Interest Income	$14.9MM

Assets and Liabilities
Assets	Q4 2019vs Q4 2018	$420.9MM$394.6MM
Loans	Q4 2019vs Q4 2018	$309.8MM$316.5MM
Deposits	Q4 2019vs Q4 2018	$359.6MM$336.7MM
Equity Capital	Q4 2019vs Q4 2018	$51.2MM$49.5MM
Loan Loss Allowance	Q4 2019vs Q4 2018	$2.6MM$2.4MM
Unbacked Noncurrent Loans	Q4 2019vs Q4 2018	$9.9MM$603.00K
Real Estate Owned	Q4 2019vs Q4 2018	$0$0

Rates

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Savings
Money Market
Checking
CD
IRA

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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Essex Savings Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.09%^*	$50k^*	-	Clipper Ship Savings
OTHER TIERS: 0.03% → Up to $10k \| 0.05% → $10k - $25k \| 0.07% → $25k - $50k
0.09%^*	$50k^*	-	IRA Clipper Ship Savings
OTHER TIERS: 0.03% → Up to $10k \| 0.05% → $10k - $25k \| 0.07% → $25k - $50k
0.09%^*	$50k^*	-	Business Clipper Ship Savings
OTHER TIERS: 0.03% → Up to $10k \| 0.05% → $10k - $25k \| 0.07% → $25k - $50k
0.07%	$5	-	Holiday Club
0.02%	$5	-	Passbook Savings
0.02%	$5	-	Statement Savings
0.02%	$5	-	Business Passbook Savings
0.02%	$5	-	Business Statement Savings

Essex Savings Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.04%	$5	-	Money Market Account
0.04%	$5	-	Business Money Market Account

Essex Savings Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.09%^*	$100k^*	-	Flag Ship Checking
OTHER TIERS: 0.04% → $5 - $25k \| 0.05% → $25k - $50k \| 0.07% → $50k - $100k
0.09%^*	$100k^*	-	IOLTA
OTHER TIERS: 0.04% → $5 - $25k \| 0.05% → $25k - $50k \| 0.07% → $50k - $100k
0.02%	$5	-	NOW Checking
0.02%	$5	-	IORETA

Essex Savings Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
0.75%	$5	-	7 Year CD
0.75%	$5	-	Business 7 Year CD
0.50%	$5	-	5 Year CD
0.50%	$5	-	Business 5 Year CD
0.35%	$5	-	3 Year CD
0.35%	$5	-	Business 3 Year CD
0.30%	$5	-	2 Year CD
0.30%	$5	-	Business 2 Year CD
0.25%	$5	-	18 Month CD
0.25%	$5	-	Business 18 Month CD
0.15%	$5	-	9 Month CD
0.15%	$5	-	1 Year CD
0.15%	$5	-	Business 9 Month CD
0.15%	$5	-	Business 1 Year CD
0.10%	$5	-	3 Month CD
0.10%	$5	-	6 Month CD
0.10%	$5	-	Business 3 Month CD
0.10%	$5	-	Business 6 Month CD

Essex Savings Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME
0.50%	$5	-	5 Year IRA
0.35%	$5	-	3 Year IRA
0.30%	$5	-	2 Year IRA
0.25%	$5	-	18 Month IRA
0.15%	$5	-	9 Month IRA
0.15%	$5	-	1 Year IRA
0.10%	$5	-	3 Month IRA
0.10%	$5	-	6 Month IRA

Locations

Essex Savings Bank Locations
Old Lyme Branch	101 Halls Road	Old Lyme, CT 06371
Old Saybrook Branch	155 Main Street	Old Saybrook, CT 06475
Chester Branch	203 Middlesex Avenue	Chester, CT 06412
Essex Savings Bank	35 Plains Road	Essex, CT 06426
Main Street Branch	9 Main Street	Essex, CT 06426
Madison Branch	99 Durham Road	Madison, CT 06443

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