# ESSEX BANK
RICHMOND, VA · FDIC certificate 8675 · asset band $1-10B · latest filing 2021-09 · stopped filing (departed)

**Verdict on the desk:** this could be *fortress*. Composite score 1 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $1.77B | |
| Deposits | $1.50B | |
| Loans and leases | $1.25B | |
| Total equity | $186.3M | |
| Loans / deposits | 82.41% (p71 of band) | 74.28% |
| Liquid assets / assets | 25.07% (p30 of band) | |
| Uninsured deposits / deposits | 29.93% (p44 of band) | 32.26% |
| Brokered deposits | 1.19% | |
| Wholesale funding | 5.14% (p65 of band) | |
| FHLB advances / assets | 3.80% | |
| Tier 1 leverage | 10.33% (p67 of band) | 9.58% |
| Unrealized securities loss / equity | 4.41% (p91 of band) | 0.34% |
| AOCI / equity | -0.95% (p52 of band) | |
| ROA (annualized) | 1.49% (p70 of band) | 1.23% |
| Net interest margin | 3.62% (p77 of band) | 3.24% |
| Efficiency ratio | 56.21% (p38 of band) | |
| Noncurrent loans | 0.35% (p47 of band) | 0.38% |
| Net charge-offs (annualized) | -0.02% (p11 of band) | |
| Reserve coverage of noncurrent | 230.04% | |
| Real estate % of loans | 83% | |
| Construction % of loans | 108.05% (p95 of band) | |
| Auto loans | $3.8M (0.31% of loans; DQ 0.03%, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p38 of band) | |
| Deposits YoY | 9.5% | |
| Employees | 232 | |

## Flags firing in the latest filing

- **construction >100% equity** (`conc_construction`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 4 | losing money, expense ratio p90, charge-offs p90, reserve under noncurrent |  |
| 2011-06 | 4 |  |  |
| 2011-09 | 2 |  | losing money, charge-offs p90 |
| 2011-12 | 2 |  |  |
| 2012-03 | 2 | uninsured deposits leaving | expense ratio p90 |
| 2012-06 | 1 |  | uninsured deposits leaving |
| 2012-09 | 1 |  |  |
| 2012-12 | 1 |  |  |
| 2013-03 | 1 |  |  |
| 2013-06 | 1 |  |  |
| 2013-09 | 1 |  |  |
| 2013-12 | 4 | wholesale funding >15%, deposits shrinking, assets shrinking |  |
| 2014-03 | 2 |  | deposits shrinking, assets shrinking |
| 2014-06 | 1 |  | wholesale funding >15% |
| 2014-09 | 2 | wholesale funding >15% |  |
| 2014-12 | 4 | capital falling, noncurrent p90 |  |
| 2015-03 | 2 |  | wholesale funding >15%, capital falling |
| 2015-06 | 2 |  |  |
| 2015-09 | 4 | losing money, expense ratio p90 |  |
| 2015-12 | 5 | wholesale funding >15% |  |
| 2016-03 | 1 |  | noncurrent p90, losing money, expense ratio p90, wholesale funding >15% |
| 2016-06 | 2 | noncurrent p90 |  |
| 2016-09 | 1 |  | noncurrent p90 |
| 2016-12 | 1 |  |  |
| 2017-03 | 1 |  |  |
| 2017-06 | 1 |  |  |
| 2017-09 | 1 |  |  |
| 2017-12 | 1 |  |  |
| 2018-03 | 1 |  |  |
| 2018-06 | 1 |  |  |
| 2018-09 | 2 | construction >100% equity |  |
| 2018-12 | 1 |  | construction >100% equity |
| 2019-03 | 1 |  |  |
| 2019-06 | 1 |  |  |
| 2019-09 | 0 |  | reserve under noncurrent |
| 2019-12 | 0 |  |  |
| 2020-03 | 0 |  |  |
| 2020-06 | 1 | capital falling |  |
| 2020-09 | 1 |  |  |
| 2020-12 | 2 | construction >100% equity |  |
| 2021-03 | 0 |  | capital falling, construction >100% equity |
| 2021-06 | 0 |  |  |
| 2021-09 | 1 | construction >100% equity |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2021-06-03 [United Bank acquiring Essex Bank, its 33rd acquisition - WTOP News](https://news.google.com/rss/articles/CBMimgFBVV95cUxNMEtmODdtRGtUUWpaR1NxVjlVNFhFeGNYRmVvMlB5WjFLdUdnbXhpOXFXcENRbmc5cEYwLXZPWlRrWXBiU3N5OFMwOGdmV0FYcjdqY1hFWktDSC13b1NOdXl2U0hJYTVFd0tGNnEwemR3T0FzZDk5b3dUNW4tWTROaldrblM2NjdHaXlhWUd4bEw5bXR5Q0k1YjdB?oc=5) · WTOP News
- 2015-02-19 [FBI Offers $30,000 Reward to Help Capture Violent Serial Bank Robbers | Federal Bureau of Investigation - fbi.gov](https://news.google.com/rss/articles/CBMi2wFBVV95cUxOaWNrcHdWaVQyblpIeFhrR0xZd1lBaXBkYnY2dU1oc0VYN2dFQmVtZlBCMHIwUXZ6eW9OdXBxM3JfSmUtenNVZ2VmRGhRRmNaTDl0OThKVmJqd2I2NXZhUkxUUWNHc21hUDFHLTFpNWI3ZEdMajItR2czcU1VQ1pLSXBmdnRIX2pfbmZRLXNqM2FfTlhjLW9ndVV5SlJaNFQ5RnFnZXdwUl9IMjJibmNIQXU1aU83TDlUMVp1OWRvelNUa3VBSENIOW1LdUp3dFpqcTRreXdoY2RuZWc?oc=5) · fbi.gov
- 2021-12-07 [Essex Bank branches now United Bank - Richmond BizSense](https://news.google.com/rss/articles/CBMiggFBVV95cUxOQlFoTHZvUTBtQ1RPUFc0azZUZ3YzLTFsbXgtQlcyaWRJal8yWXFiLU1FVW85ZUlNRE1pbV9NNzE5RnRNbk5sc2EyWE1FbV9BVmVjcmdxNVVBeHZRc3FVd3BRbGx2MUFyNTNsTV9ZeU9mS0l1RDRXS3JySjZXbkRuQmln?oc=5) · Richmond BizSense
- 2019-07-07 [Obituary information for Terrell Dayton Vaughan - blileys.com](https://news.google.com/rss/articles/CBMiekFVX3lxTFAySEJyaUFRcjZ3SGp1Sk1HakVkUWEzZHJGRm5ZNmRSdU1kd0lZQWJGc2FvWG10ZDJQa3p4Q3lELWQ4MmY0UjNFN3JLNHJkZFgtQnZhb0RFSVFDdzd1SHM2UVRBQnpBWHBIdlhFVGU1R2lxa3UyN2lsYjhB?oc=5) · blileys.com
- 2021-12-07 [DC’s United Bank completes 33rd acquisition - WTOP News](https://news.google.com/rss/articles/CBMiiwFBVV95cUxOUW9aeVZ0VlBRVVRNd1ZnU3RuZV9reE0zaVo5YzlGd3VlNmtBMmljUEFwckhiVks2ZnowaXhPX1VBSGdvdC1DYlA0RWg0LWVoMGFEdHV4cXdFWXdWdG1iSWpHQTQ0WHdNVkVHdWxjZE9fZXRsV2taUk1xYWdEMXBXOWp6WFRKWlhheW84?oc=5) · WTOP News
- 2017-01-09 [Powell bank robbery arrest leads to confession in two more - Knoxville News Sentinel](https://news.google.com/rss/articles/CBMitgFBVV95cUxPVlpHMF8zVEtrejJBcG14VGNBOElUOE1kWEFQNFA0YTd5RVA0OUFHcjEyZkRBRzQ1RGxuRU1mM2ZYNFlwV1U0Z2ozZHZ0Q0pWUUJyQ19za3lnb0RqRXpVTC1QOUl5WXJDdWYyVTFja0VnOUZpaEMzaC10aGhFbUNfR2QxdXN2Wlh4Y0tLZHRUYVFLa3I3ODk4aWlGZVNRZHp1X0VZcW9BVmdER1pYdWNUa3JEM3lvZw?oc=5) · Knoxville News Sentinel
- 2021-11-04 [Essex Bank laying off dozens as part of merger with United Bank - Richmond BizSense](https://news.google.com/rss/articles/CBMipAFBVV95cUxQcjhRd2tvUm5SRTRoSUk5M1RTbjFieVBBWWF1NDdtVGdiT1hBck9DYkw0blhQS19xdlQ0Qkh0Sk5ET0VSTXp6V2VJYkpBMTFQTm9mTzlIejVVSGx1bVdKWVd3QXl4WUtWLWRwODhuX3o3QUZNQkdlM0RldU1zYWl1NWdnWGFGc2tjbnhnR21DNmRvLWlLeHF3TWRFRDJoVXM0MXRESg?oc=5) · Richmond BizSense
- 2024-10-05 [Jack Robeson Obituary (1948 - 2024) - Richmond, VA - Richmond Times-Dispatch - legacy.com](https://news.google.com/rss/articles/CBMikwFBVV95cUxNcjdtRkViN210eHpCRzhOenp5ZFlkdnFoS0hSWWhHOW5hb1g4Q3BFN2hRaUxrdTBPSkpLSEpsMXdMUnI3TFBkdTVQcldBNzBRNHB4VllPR1JXVGZ1WnlIc0tiXzlXeHZ2UmlVVFRKdEZEQ0VCM3hfTUxRSENWY21HRi1iWEczR2hxZEtSSWVoWk1oOTg?oc=5) · legacy.com

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=8675 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/35.json (key "8675", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide