According to Gregory Shook, president and CEO of Essex Savings Bank, Rose McLaughlin has been hired as assistant vice president, branch manager of the Madison office to be open in the fall 2009.
For the past ten years, McLaughlin served as an assistant vice president for Webster Bank, N.A., where her duties included branch management, new business development, and both residential and commercial lending. Prior to Webster, McLaughlin worked for Maritime Bank and Trust Co. from its inception in various capacities including assistant manager and mortgage loan officer for over eight years. She is an active volunteer for several local organizations and resides in Ivoryton with her daughters.
The Madison office will be the fifth full service branch for Essex Savings Bank. In addition to banking and trust services, the Madison location will also include branch offices for Essex Financial Services with several investment advisors and assistants. Essex Savings Bank assets are over $270 million, with capital exceeding the well capitalized rating at over 12%.
Trust assets under management are $160 million and Essex Financial Services has assets under management of $2.2 billion.
Essex Savings Bank is a FDIC insured, state chartered, mutual savings bank established in 1851. The Bank serves the lower Connecticut River Valley and shoreline with offices in Essex (2), Old Saybrook, Old Lyme and in the fall Madison.
Financial, estate, insurance and retirement planning are offered throughout the state by the Bank's Trust Department and subsidiary Essex Financial Services, Inc. Member FINRA, SIPC. Investments in stocks, bonds, mutual funds and annuities are not FDIC insured, may lose value, are not a deposit, have no Bank guarantee and are not insured by any Federal Government Agency.