Exchange Bank

Exchange Bank Announces Kevin Bender as Senior Vice President, Chief Banking Officer

Retrieved on: 
Thursday, February 29, 2024

Exchange Bank (OTC: EXSR) announces Kevin Bender as senior vice president and chief banking officer, reporting to Troy Sanderson, president and chief executive officer.

Key Points: 
  • Exchange Bank (OTC: EXSR) announces Kevin Bender as senior vice president and chief banking officer, reporting to Troy Sanderson, president and chief executive officer.
  • Kevin assumes responsibility for leading the Retail Banking team, Deposit and Lending Operations and Electronic Banking.
  • View the full release here: https://www.businesswire.com/news/home/20240229830225/en/
    Kevin brings over 40 years of banking expertise to Exchange Bank, most recently as the head of Branch Banking with Poppy Bank.
  • His prior experience includes serving as the president and CEO of a new bank under formation and chief operating officer and chief information officer at the former American River Bank.

Exchange Bank Declares First Quarter Cash Dividend

Retrieved on: 
Wednesday, February 28, 2024

On February 21, 2024, the Exchange Bank (OTC: EXSR) Board of Directors declared a quarterly cash dividend of $1.30 per share on common stock outstanding to shareholders of record at the close of business on March 8, 2024.

Key Points: 
  • On February 21, 2024, the Exchange Bank (OTC: EXSR) Board of Directors declared a quarterly cash dividend of $1.30 per share on common stock outstanding to shareholders of record at the close of business on March 8, 2024.
  • The dividend will be paid on March 22, 2024.
  • 50.44% of the Bank’s first quarter cash dividend, approximately $1.12 million, will be paid to the Doyle Trust which funds the Doyle Scholarships at the Santa Rosa Junior College.
  • Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts.

Exchange Bank Announces Promotion of Jessica Hidalgo to Vice President, Regional Sales Manager

Retrieved on: 
Wednesday, February 21, 2024

Exchange Bank (OTC: EXSR) announces the promotion of Jessica Hidalgo from branch manager to regional sales manager of Exchange Bank’s north region.

Key Points: 
  • Exchange Bank (OTC: EXSR) announces the promotion of Jessica Hidalgo from branch manager to regional sales manager of Exchange Bank’s north region.
  • In her new role, Jessica will support the branch managers and their teams with financial growth goals, community involvement, team development and customer service.
  • After 11 years as an RSM, Jessica became a branch manager; first at the Cotati branch, then St. Francis, and most recently the Sonoma branch.
  • Over the years, Jessica has supported and volunteered for many nonprofit groups including the American Cancer Society, Redwood Empire Foodbank and COTS-Petaluma.

Exchange Bank Employees Deliver Community Support through Nonprofit Board Membership

Retrieved on: 
Monday, February 5, 2024

Exchange Bank (OTC: EXSR) is pleased to announce the appointment of four employees to Sonoma County-based nonprofit boards.

Key Points: 
  • Exchange Bank (OTC: EXSR) is pleased to announce the appointment of four employees to Sonoma County-based nonprofit boards.
  • Supporting the community is the cornerstone of Exchange Bank’s mission, and employees donate thousands of hours a year in support of local charities and nonprofit organizations.
  • “Exchange Bank is an integral part of the local community, and giving our time and ability to nonprofits is a big part of how we give back.
  • We currently have 64 Exchange Bank employees who serve on nonprofit boards, and our employees as a whole volunteer with over 150 organizations,” said Beth Ryan, Exchange Bank’s community engagement officer.

Exchange Bank Announces Dorothy Rodella, Vice President, Branch Manager

Retrieved on: 
Friday, February 2, 2024

Exchange Bank (OTC: EXSR) is pleased to announce Dorothy Rodella as vice president and branch manager supporting the Sebastopol office at 840 Gravenstein Hwy.

Key Points: 
  • Exchange Bank (OTC: EXSR) is pleased to announce Dorothy Rodella as vice president and branch manager supporting the Sebastopol office at 840 Gravenstein Hwy.
  • View the full release here: https://www.businesswire.com/news/home/20240202003670/en/
    Dorothy Rodella, Vice President and Branch Manager, Exchange Bank (Photo: Business Wire)
    Dorothy has a strong connection to the Sebastopol community.
  • She joined Exchange Bank in 2001 as an assistant branch manager at the Healdsburg office before moving to the Sebastopol office where she served as vice president and branch manager for 13 years.
  • In 2016, Dorothy became vice president, north regional sales manager, coaching and mentoring regional team members to reach their highest potential.

Exchange Bank Announces Fourth Quarter and Year Ending 2023 Earnings

Retrieved on: 
Tuesday, January 30, 2024

Exchange Bank (OTC: EXSR) today announced its unaudited financial results for the fourth quarter and year ending 2023, reporting net income after taxes of $6.77 million in the fourth quarter of 2023 and $20.19 million for the year ended 2023.

Key Points: 
  • Exchange Bank (OTC: EXSR) today announced its unaudited financial results for the fourth quarter and year ending 2023, reporting net income after taxes of $6.77 million in the fourth quarter of 2023 and $20.19 million for the year ended 2023.
  • The decrease in income is partially related to a one-time charge of $9.10 million, net of taxes, related to the voluntary termination of the Exchange Bank Pension Plan in the second quarter of 2023.
  • Fourth quarter net income after taxes was $6.77 million compared with $6.34 million for the previous quarter, an increase of 6.75%.
  • Excluding this one-time charge, earnings from the operations of Exchange Bank for the year ended 2023 were $29.25 million.

Currency Exchange International Announces a 15% and 21% Increase in Revenue for the Three-Months and Fiscal Year Ended October 31, 2023 Versus the Prior Year

Retrieved on: 
Wednesday, January 24, 2024

The complete financial statements and MD&A can be found on the Company's SEDAR profile at www.sedar.com.

Key Points: 
  • The complete financial statements and MD&A can be found on the Company's SEDAR profile at www.sedar.com.
  • This performance reflects our steadfast commitment to executing against the strategic plan that we developed in 2020.
  • Financial Highlights for the three-months ended October 31, 2023, compared to the three-months ended October 31, 2022:
    Revenue increased by $3.0 million or 15% to $22.8 million from $19.8 million.
  • Financial Highlights for the fiscal year ended October 31, 2023, compared to the fiscal year ended October 31, 2022:
    Revenue increased $14.5 million or 21% to $82.0 million from $67.5 million.

Exchange Bank Partners with FHLBank San Francisco to Award Dry Creek Rancheria Band of Pomo Indians $70,000 Grant

Retrieved on: 
Tuesday, November 21, 2023

Exchange Bank (OTC: EXSR) has collaborated with the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) and its AHEAD Economic Development Grant Program to provide $70,000 in funding to Dry Creek Rancheria Band of Pomo Indians to promote indigenous self-sufficiency.

Key Points: 
  • Exchange Bank (OTC: EXSR) has collaborated with the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) and its AHEAD Economic Development Grant Program to provide $70,000 in funding to Dry Creek Rancheria Band of Pomo Indians to promote indigenous self-sufficiency.
  • The Exchange Bank-sponsored grant will fund Dry Creek Rancheria Band of Pomo Indians, which is a federally recognized tribe in Northern California whose mission is to promote indigenous self-sufficiency through economic development, education, and affordable housing.
  • “Exchange Bank is proud to participate in the AHEAD grant program, helping to make a positive impact in our community,” said Shari DeMaris, chief operating officer, Exchange Bank.
  • Exchange Bank applied for the grant in partnership with Dry Creek Rancheria Band of Pomo Indians and was awarded the $70,000 after a competitive selection process.

Exchange Bank Announces Kelly Back, Vice President, Commercial Relationship Manager

Retrieved on: 
Monday, November 13, 2023

Exchange Bank (OTC: EXSR) announces the promotion of Kelly Back to vice president, commercial relationship manager, moving from his previous role as Sebastopol branch manager.

Key Points: 
  • Exchange Bank (OTC: EXSR) announces the promotion of Kelly Back to vice president, commercial relationship manager, moving from his previous role as Sebastopol branch manager.
  • In his new role, Kelly will focus on establishing and deepening relationships with commercial lending and commercial real estate customers as well as aligning retail branch and commercial banking activities.
  • Kelly holds a bachelor’s degree in Business Administration and Marketing from Sonoma State University.
  • He is active in the community and enjoys volunteering at community events along with many years of coaching youth sports.

Exchange Bank Announces Third Quarter 2023 Earnings

Retrieved on: 
Monday, October 30, 2023

In the third quarter, loan growth for the Bank continued with gross loan balances increasing by $43.42 million from June 30, 2023.

Key Points: 
  • In the third quarter, loan growth for the Bank continued with gross loan balances increasing by $43.42 million from June 30, 2023.
  • Total funding costs for the third quarter of 2023 were $7.67 million as compared to $424,000 for the third quarter of 2022.
  • Non-interest expenses decreased 0.17% from the quarter ended September 30, 2022, to $18.55 million for the third quarter of 2023.
  • Excluding this one-time charge, earnings from the operations of Exchange Bank for the first nine months of 2023 were $22.47 million.