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Custodian and Escrow Services

Clients may deposit their cash or securities with the Essex Savings Bank Trust Department to serve as custodian to invest, collect and remit income as instructed. Custodian services include the following:

• Custody and safekeeping of assets
• Collection and remittance of income and principal
• Periodic statements of account
• Execution of purchase and sale of securities
• Daily cash investment

Essex Savings Bank can also serve as escrow agent for commercial transactions or agreements requiring an escrow account. Serving as escrow agent, the professionals of the Essex Savings Bank Trust Department will ensure that distributions under the escrow agreement are made according to the terms and conditions of the agreement with fairness and impartiality.

Investments in stocks, bonds, mutual funds and annuities in fiduciary accounts are not a deposit or other obligation of Essex Savings Bank; are not insured by the Federal Deposit Insurance Corporation (FDIC) or any other federal government agency; and, may involve investment risks,
including, but not limited to, possible loss of value of principal.
 
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