Monday, August 2, 2010

CLIENT OF THE MONTH

We're proud to introduce you to our latest Client of the Month , Esses Savings Bank. With 5 locations (Plains Road - Essex, Main Street - Essex, Main Street - Old Saybrook, Halls Road - Old Lyme, and Durham Road - Madison), Essex Savings Bank is a local bank with a long history of serving the shoreline along the lower Connecticut River.

Below you'll find some history and information on Esses Savings Bank, however we encourage you to visit one of their branches, or online (simply click on the title above to be taken to their home page).

The year was 1851. Millard Fillmore was president of the United States. Much of the West was still a wild frontier. The Connecticut River was in its heyday as a center for ship building and international commerce. Majestic sloops and schooners plied the waters of the river on their way to the Sound, the gateway to the Atlantic and the China trades.
That year, a group of forward-thinking shipmasters, businessmen and entrepreneurs gathered together seeking to form a bank that would provide a safe harbor for their fortunes and a financial resource for members of the local communities. The first meeting of the corporators of the newly named Essex Savings Bank was held July 30, 1851, and the bank opened for business one week later on August 6. The first deposit book was issued to Susan Pratt with an entry of $150.00.
The first president of the bank, Henry L. Champlin, was one of the most accomplished sea captains of his time. He was shipmaster and owner of the first London line of packets from New York, of which he was commander for many years, never losing a vessel. After retiring from seafaring, he continued as a successful ship owner and built a beautiful home on Champlin Square in Essex.

Through the years, Essex Savings Bank has played a vital part in the lives of those in the communities we serve. We've taken pride in helping our customers build their homes, educate their children and create livelihoods that contribute to the prosperity of the Connecticut River Valley.
Today Essex Savings Bank offers a full complement of financial products and services including business banking, trust and investment services. Though we offer products that others provide, we've never lost sight of our forefathers' goal - a commitment to personal relationships. A hundred fifty nine years has passed and we have never wavered from that promise. We continue our long heritage as a mutual savings bank, a non-public organization with a far-reaching vision for our customers and the communities we serve. Our Community Investment Program, which returns 10 percent of our after tax net income to non-profits, is a testament to our commitment.
In times of uncertainty it is good to know that there is still a safe financial harbor close to home. For generations, we have continued to provide quality banking services and a commitment to long term relationships.
Our capital remains more than double the FDIC required standards for “well capitalized” banks. When compared to our peers we remain one of the most profitable banks in the country. For the second successive year, John W. Rafal, the leader of our subsidiary Essex Financial Services, has been rated the nation’s #1 independent investment advisor.

We invite you to join us in our vision, explore our services and celebrate our history of partnership and progress. We appreciate those entrepreneurs who had the foresight to create a concept in banking that has withstood the test of time. We wish to thank our customers, directors, trustees, officers and employees who support our mission to continue to provide service and trust to our community.

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