| Essex Savings Bank | |
| Type: | Privately held company |
| Industry: | Banking |
| Location: | Essex, Connecticut |
| Key People: | Diane Arnold, President & CEO Lynn K. Giroux, Chief Operating Officer Debra Brown, Chief Financial Officer |
| Assets: | $375 million (2017)[1] |
| Equity: | $45 million (2017) |
Essex Savings Bank is a bank headquartered in Essex, Connecticut, United States. It operates 6 branches, all of which are in Connecticut. The company also operates a trust department and has 22 financial advisors with $3.4 billion of assets under management.
The bank donates 10% of its net profits to local charitable organizations.[2]
The bank was founded on August 6, 1851, by a group of shipmasters, businessmen, and entrepreneurs.[1] [3]
The bank's branch served as a gathering place for many skippers who met there between voyages to discuss their adventures.[3]
The first bank president was Henry L. Champlin, a sea captain.[3]
In 2015, John W. Rafal, the founder of the financial services division, was fired after he paid a referral fee in violation of regulations.[4] [5]