Essex Bank

9954 Mayland Drive
Richmond, VA 23233


General Bank Information

FDIC Insured Yes
FDIC Certificate # 8675
Date Established 1926
Assets $1.34 billion
Loans $0.98 billion
Deposits $1.10 billion
Capital $0.13 billion

Essex Bank is an FDIC insured institution located in Richmond, VA. It was founded in 1926 and has approximately $1.34 billion in assets. Customers can open an account at one of its 26 branches.

For a more detailed analysis of Essex Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Bank Loan Profile?

The top three loan types in Essex Bank’s loan portfolio are Commercial Real Estate, 1-4 Family Residential Loans, and Commercial and Industrial Loans.

Compared to other banks, Essex Bank’s loan portfolio does not show any specific loan specialty.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 28.44
Credit Card Loans 0.00
Consumer Auto Loans 0.20
Small Business Loans 11.89
Construction and Development Loans 11.20
Commercial Real Estate 37.54
Commercial and Industrial Loans 15.82
Farm Loans 0.46

Deposit Rates

Your Current Location: Virginia, VA 20146

Savings Rates APY MIN MAX
Fixed IRA 0K
1.81% $500 - Learn MoreShow Less
Special: 13 Mo FIRA
1.86% $500 - Learn MoreShow Less
Special: 19 Mo FIRA
2.02% $500 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA 0K
0.25% $500 - Learn MoreShow Less
MM 2.5K
0.05% $1 $4,999 Learn MoreShow Less
MM 10K
0.10% $5,000 $24,999 Learn MoreShow Less
MM 25K
0.15% $25,000 $49,999 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg 0K
0.10% $1,500 $24,999 Learn MoreShow Less

Loan Rates

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for Essex Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Virginia 30 Year Fixed Mortgage Rates 2018

Lender APR Rate (%) Points Fees Monthly
Learn More
AmeriSave Mortgage Corporation
NMLS ID: 1168
License#: MC-2462
4.703% 4.625% 0.38 $2,265 $1,286 Learn More
AmeriSave Mortgage Corporation
NMLS ID: 1168
4.711% 4.625% 0.50 $2,510 $1,286 Learn More NMLS#2890
NMLS ID: 2890
License#: MC-3098
4.409% 4.375% 0.00 $1,104 $1,249 Learn More
PenFed Credit Union
NMLS ID: 401822
4.585% 4.500% 0.00 $2,500 $1,267 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2018

Lender Rate (%) Monthly Payment Learn More
Third Federal Savings & Loan Assoc. of Cleveland 3.990% $238.42 Learn More
Flagstar Bank 5.490% $283.58 Learn More

Note to Essex Bank
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Essex Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

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Essex Bank Locations

Financial Details

Essex Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Essex Bank. The data is provided by the FDIC. All banks listed on are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Essex Bank U.S. Bank Average
10.41% 8.32%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its the bank’s tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of September 30, 2017, Essex Bank had $11,302,000 in non-current loans and $2,791,000 in owned real estate. To cover these potential losses it had $126,189,000 in equity and $9,169,000 in loans loss reserves. That gives it a Texas Ratio of 10.41%.

Return on Equity
Essex Bank U.S. Bank Average
6.13% 8.84%

Essex Bank has a Return on Equity of 6.13% versus the BestCashCow average of 8.84%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Essex Bank U.S. Bank Average
9.45% 12.21%

Essex Bank has a Capitalization of 9.45% versus the BestCashCow average of 12.21. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Essex Bank Balance Sheet Analysis

As of December 31, 2017, Essex Bank had assets of $1,335,998,000, loans of $977,182,000, and deposits of $1,097,471,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

Cash & Balances due from depository institutions $0.02 billion
Interest-bearing balances $0.01 billion
Total securities $0.25 billion
Federal funds sold and reverse repurchase $0.00 billion
Net loans and leases $0.98 billion
Loan loss allowance $0.01 billion
Trading account assets $0.00 billion
Bank premises and fixed assets $0.00 billion
Other real estate owned $0.00 billion
Goodwill and other intangibles $0.00 billion
All other assets $0.05 billion
     Total Assets $1.21 billion
Total deposits $1.10 billion
      Interest-bearing deposits $0.94 billion
      Deposits held in domestic offices $1.10 billion
      % insured (estimated) 78.46%
Federal funds purchased and repurchase agreements $0.00 billion
Trading liabilities $0.00 billion
Other borrowed funds $0.10 billion
Subordinated debt $0.00 billion
All other liabilities $0.01 billion
      Total Liabilities $1.21 billion
      Shareholders’ Equity $0.13 billion

Summary Income Statement

Total Interest Income $0.05 billion
Total Interest Expense $0.01 billion
Net interest income $0.04 billion
Provision for loan and lease losses $0.00 billion
Total non interest income $0.00 billion
Total non interest expense $0.03 billion
Pre-tax Net Operating Income $0.01 billion

Frequently Asked Questions About Essex Bank

Branches and Savings

Is Essex Bank FDIC insured?

Yes. It is covered under FDIC Certificate #8675.

Why does Essex Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Essex Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Essex Bank a commercial bank?


Where are Essex Bank locations?

See branch locations nearby.

Is Essex Bank open on Saturdays?

Is Essex Bank open on Sundays?

What time does Essex Bank open?

What time does Essex Bank close?

Are Essex Bank ATMs Open 24/7?

Do Essex Bank ATMs accept cash deposits?

Can Essex Bank customers use other ATMs?

Do Essex Bank branches have notaries?

Will Essex Bank notarize my document?

What address for Essex Bank should I put for incoming ACH transfers?

Will the Essex Bank branch print checks?

Do Essex Bank checks expire?

Does Essex Bank require US citizenship to open account?

Can Essex Bank close my account?

Does Essex Bank Report to credit bureaus?

Does Essex Bank Use Equifax?

What is Essex Bank's ACH Routing Number?

What is Essex Bank's SWIFT code?


Does Essex Bank offer mortgages?

Compare mortgage rates here.

Does Essex Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Essex Bank offer personal loans?

Compare personal loan rates here.

Does Essex Bank offer student loans?

Will Essex Bank cash a check?

Will Essex Bank redeem a savings bond?

Does Essex Bank cash savings bonds?

Will Essex Bank cash money orders?

Can Essex Bank issue a money order?

Does Essex Bank do currency exchange?

Background on The Bank

Who owns Essex Bank?

How long has Essex Bank been around?

Can Essex Bank transfer to other banks?

Does Essex Bank have quick pay?

Does Essex Bank accept rolled coins?

Will Essex Bank accept loose change?

Where is Essex Bank headquarters?

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