Message from the President

While much has changed in our 173 year history, the one thing that remains constant is our commitment to serve our customers and our local communities. Our dedicated team of employees is the foundation upon which our bank thrives. Essex Savings Bank has focused its efforts on enhancing our digital capabilities and we continue to improve our customer experience, whether it is in person or virtual. Cybersecurity remains top of mind as we implement new digital solutions.

Our broad array of banking services includes personal deposit accounts, residential mortgages, commercial lending and related depository products. In addition to traditional banking services, the Bank has a trust department and a wealth management firm to support all aspects of your financial well-being. Our experienced and knowledgeable staff always use a consultative approach to determine the products and services most suited to your individual needs.

We maintain capital far exceeding the regulatory requirements and our income is generated through our three business units – Essex Savings Bank, Essex Trust and Essex Financial Services, providing us with a diverse revenue stream. Our trust department had assets under management of $789 million at fiscal year-end 9/30/2023, while our wealth management firm had assets under management or administration of $3.1 billion.

We are pleased to share that during the past year, the Bank distributed up to 10% of its net after-tax profit, totaling $365,741 to local non-profits through our Community Investment Program. During the 28 year history of this program, Essex Savings Bank has donated over $5.6 million to hundreds of non-profits which enrich the lives of those who live and work in our communities. Many of our employees donate their time to support these worthwhile organizations as both volunteers and board members.

We thank our customers, directors, trustees, officers and staff who support our mission as an independent mutual savings bank, dedicated to those we serve.

Sincerely,

Diane H. Arnold
President and Chief Executive Officer