SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                       PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934



Date of Report (Date of earliest event reported)        February 1, 2001
                                                --------------------------------



                         Essex Bancorp, Inc.
-------------------------------------------------------------------------
              Exact name of registrant as specified in its charter



          Delaware                     1-10506                 54-1721085
----------------------------     --------------------    -----------------------
(State or other jurisdiction         (Commission              (IRS Employer
of incorporation)                    File Number)          Identification No.)



       Interstate Corporate Center
          Building 9, Suite 200
            Norfolk, Virginia                                       23502
--------------------------------------------                  ---------------
Address of principal executive offices                            Zip Code



Registrant's telephone number, including area code       (757) 893-1300
                                                  ------------------------------



--------------------------------------------------------------------------------
         (Former name or former address, if changed since last report.)


<PAGE>

Item 5.  Other Events

         Essex Bancorp,  Inc.  ("Registrant") issued a press release on February
1, 2001 announcing that,  among other things,  at a meeting on February 1, 2001,
the  Registrant's  Board of  Directors  (the  "Board")  unanimously  decided  to
consider the viability of a going-private transaction, which would be subject to
the recommendation  and approval of a Special  Committee.  If such a transaction
goes forward, it will also be subject to shareholder  approval.  The impetus for
such a transaction  is the Board's  belief that neither the  Registrant  nor its
common  shareholders  derives any material  economic  benefit from the continued
registration  of  its  common  shares  and  that  the  monetary  expense  to the
Registrant  and the  management  time involved with the  Registrant's  continued
status  as a public  company  significantly  outweigh  any  benefit  that may be
received  by the  Registrant  or its  common  shareholders.  In a  going-private
transaction,  the Registrant would merge with a subsidiary, and the Registrant's
common  shareholders  would receive a cash payment for their  shares.  The Board
believes that such a  going-private  transaction  may be the best way to provide
liquidity  and  a  return  to  the  Registrant's  common  shareholders.  As  the
Registrant  has  previously  disclosed,   the  accumulating   dividends  on  the
Registrant's  classes of  preferred  stock are such that the  Registrant's  book
value per common share is likely to remain negative,  and even increase, for the
foreseeable  future.  Based  on  a  preliminary   analysis,   which  takes  into
consideration the current and prospective  negative book value per common share,
the unlikely  prospect for common stock  dividends,  the number of common shares
currently  outstanding  and  other  factors,  the  Board  believes  that  if the
going-private transaction takes place, the cash price to be paid to shareholders
would be approximately $1.45 per share.

         Accordingly,   the  Board  has  formed  a  Special  Committee  and  has
authorized it to, among other things,  (i) retain a financial  adviser to render
an opinion as to the fairness of the cash consideration to be received by common
shareholders from a financial point of view, (ii) retain  securities  counsel to
ensure  compliance with securities  regulations and special counsel to assist in
the decision-making  process,  (iii) pursue requisite  regulatory  approvals for
such a transaction and (iv) evaluate  alternatives  for financing the payment to
shareholders and the related  transaction  fees. The results of these activities
will ultimately be the basis for a  recommendation  by the Special  Committee to
the Board  with  regard  to the  structure,  fairness  and  advisability  of the
going-private  transaction.  Although  there  can  be  no  assurances  that  the
going-private  transaction will take place, the Board currently anticipates that
it may submit a proposal to the Registrant's  shareholders for their approval at
the Registrant's annual meeting to be held on June 21, 2001. This annual meeting
date has been rescheduled from the previously-announced date.

         The Registrant's press release is not an offer to acquire any shares of
common stock. If the Registrant proceeds with a going-private  transaction,  the
shareholders   will  receive  a  proxy  statement   describing  the  transaction
(including  any  conditions  to the closing of the  transaction).  Any  decision
regarding such a transaction should be based on that disclosure.

         The  above  discussion  may  contain  forward-looking  statements  that
involve  assumptions and potential  risks and  uncertainties.  The  Registrant's
future results could differ  materially  from those  discussed  herein.  Readers
should not place undue  reliance on any  forward-looking  statements,  which are
applicable only as of the date hereof.

                                       2
<PAGE>
                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, hereunto duly authorized.


                                            Essex Bancorp, Inc.


         February 6, 2001                   By:  /s/ Gene D. Ross
         ----------------                        ------------------------------
               (Date)                           Gene D. Ross
                                                Chairman, President and
                                                Chief Executive Officer


                                       3
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{"company-data": {"conformed-name": "ESSEX BANCORP INC /NEW", "cik": "0000847325", "assigned-sic": "6035", "irs-number": "541721085", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-10506", "film-number": "1525840"}, "business-address": {"street1": "REFLECTIONS II STE 200", "street2": "200 GOLDEN OAK CT", "city": "VIRGINIA BEACH", "state": "VA", "zip": "23452", "phone": "8044868700"}, "mail-address": {"street1": "REFLECTIONS II", "street2": "200 GOLDEN OAK COURT SUITE 200", "city": "VIRGINIA BEACH", "state": "VA", "zip": "23452"}, "former-company": {"former-conformed-name": "ESSEX FINANCIAL PARTNERS LP", "date-changed": "19920703"}}
SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                       PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported)        February 1, 2001
                                                --------------------------------

                         Essex Bancorp, Inc.
-------------------------------------------------------------------------
              Exact name of registrant as specified in its charter

          Delaware                     1-10506                 54-1721085
----------------------------     --------------------    -----------------------
(State or other jurisdiction         (Commission              (IRS Employer
of incorporation)                    File Number)          Identification No.)

       Interstate Corporate Center
          Building 9, Suite 200
            Norfolk, Virginia                                       23502
--------------------------------------------                  ---------------
Address of principal executive offices                            Zip Code

Registrant's telephone number, including area code       (757) 893-1300
                                                  ------------------------------

--------------------------------------------------------------------------------
         (Former name or former address, if changed since last report.)
Item 5.  Other Events

         Essex Bancorp,  Inc.  ("Registrant") issued a press release on February
1, 2001 announcing that,  among other things,  at a meeting on February 1, 2001,
the  Registrant's  Board of  Directors  (the  "Board")  unanimously  decided  to
consider the viability of a going-private transaction, which would be subject to
the recommendation  and approval of a Special  Committee.  If such a transaction
goes forward, it will also be subject to shareholder  approval.  The impetus for
such a transaction  is the Board's  belief that neither the  Registrant  nor its
common  shareholders  derives any material  economic  benefit from the continued
registration  of  its  common  shares  and  that  the  monetary  expense  to the
Registrant  and the  management  time involved with the  Registrant's  continued
status  as a public  company  significantly  outweigh  any  benefit  that may be
received  by the  Registrant  or its  common  shareholders.  In a  going-private
transaction,  the Registrant would merge with a subsidiary, and the Registrant's
common  shareholders  would receive a cash payment for their  shares.  The Board
believes that such a  going-private  transaction  may be the best way to provide
liquidity  and  a  return  to  the  Registrant's  common  shareholders.  As  the
Registrant  has  previously  disclosed,   the  accumulating   dividends  on  the
Registrant's  classes of  preferred  stock are such that the  Registrant's  book
value per common share is likely to remain negative,  and even increase, for the
foreseeable  future.  Based  on  a  preliminary   analysis,   which  takes  into
consideration the current and prospective  negative book value per common share,
the unlikely  prospect for common stock  dividends,  the number of common shares
currently  outstanding  and  other  factors,  the  Board  believes  that  if the
going-private transaction takes place, the cash price to be paid to shareholders
would be approximately $1.45 per share.

         Accordingly,   the  Board  has  formed  a  Special  Committee  and  has
authorized it to, among other things,  (i) retain a financial  adviser to render
an opinion as to the fairness of the cash consideration to be received by common
shareholders from a financial point of view, (ii) retain  securities  counsel to
ensure  compliance with securities  regulations and special counsel to assist in
the decision-making  process,  (iii) pursue requisite  regulatory  approvals for
such a transaction and (iv) evaluate  alternatives  for financing the payment to
shareholders and the related  transaction  fees. The results of these activities
will ultimately be the basis for a  recommendation  by the Special  Committee to
the Board  with  regard  to the  structure,  fairness  and  advisability  of the
going-private  transaction.  Although  there  can  be  no  assurances  that  the
going-private  transaction will take place, the Board currently anticipates that
it may submit a proposal to the Registrant's  shareholders for their approval at
the Registrant's annual meeting to be held on June 21, 2001. This annual meeting
date has been rescheduled from the previously-announced date.

         The Registrant's press release is not an offer to acquire any shares of
common stock. If the Registrant proceeds with a going-private  transaction,  the
shareholders   will  receive  a  proxy  statement   describing  the  transaction
(including  any  conditions  to the closing of the  transaction).  Any  decision
regarding such a transaction should be based on that disclosure.

         The  above  discussion  may  contain  forward-looking  statements  that
involve  assumptions and potential  risks and  uncertainties.  The  Registrant's
future results could differ  materially  from those  discussed  herein.  Readers
should not place undue  reliance on any  forward-looking  statements,  which are
applicable only as of the date hereof.

                                       2
SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, hereunto duly authorized.

                                            Essex Bancorp, Inc.

         February 6, 2001                   By:  /s/ Gene D. Ross
         ----------------                        ------------------------------
               (Date)                           Gene D. Ross
                                                Chairman, President and
                                                Chief Executive Officer

                                       3