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Exchange Bank Appoints Tom Duryea as Executive Vice President, Chief Banking Officer
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Exchange Bank (OTC: EXSR) has appointed Tom Duryea as executive vice president and chief banking officer. He will oversee Retail, Wholesale Lending, Residential and Consumer Lending, focusing on customer-facing areas. Duryea previously served as CEO of Summit Bank, where he transformed it into a top-performing bank. His local ties to Sonoma County and commitment to community banking are emphasized in his new role. The bank, founded in 1890, boasts $3.5 billion in assets and has been recognized multiple times for its community support.
Positive
Appointment of Tom Duryea as executive vice president and chief banking officer brings high-level experience.
Duryea's commitment to community banking may strengthen relationships with local businesses.
Legacy of Exchange Bank includes numerous awards for community support and performance.
Negative
Transitioning leadership may cause initial disruptions in operations.
SANTA ROSA, Calif.--(BUSINESS WIRE)--
Exchange Bank (OTC: EXSR) today announced the appointment of Tom Duryea as executive vice president and chief banking officer, reporting to Troy Sanderson, president and CEO. He will be responsible for contributing to the strategic direction of the bank with a focus on the customer facing areas including Retail, Wholesale Lending, Residential and Consumer Lending and Product Innovation and Delivery.
Tom Duryea, Executive Vice President, Chief Banking Officer, Exchange Bank (Photo: Business Wire)
“I am confident that the wealth of high-level experience that Tom brings to this position will serve the Bank well,” said Troy Sanderson, president and CEO.
“I have a passion for community banking and I am honored to join the exceptional team at Exchange Bank,” said Duryea. “It is the hard work and imagination of local business owners that create the culture, lifestyle and experiences that make Sonoma County unique. I commit to focusing our team’s expertise in resourcing the finance needs of local business owners as we partner together to create resiliency, growth, opportunity and our shared future here in Sonoma County.”
Recently, serving as CEO of Summit Bank in Oakland, CA, Tom had the distinct honor of leading the oldest woman-founded community bank in California.
While working in Oakland, Duryea and his family maintained their primary residence in Healdsburg. His children were raised in Sonoma County where he has been a resident for 20 years, and he is excited to transition his professional life back to his home community.
Duryea, formerly president and chief executive officer at Summit State Bank in Sonoma County, led the commercial bank for eight years. Under his leadership, the former savings and loan was successfully transformed to a top performing bank.
About Exchange Bank
Headquartered in Sonoma County and founded in 1890, Exchange Bank is a premier community bank with assets of $3.5 billion. Exchange Bank provides a wide range of personal, commercial and trust and investment services with 18 retail branches in Sonoma County, a commercial branch in Roseville, and trust and investment offices in Santa Rosa, Roseville and Silicon Valley. The Bank’s legacy of financial leadership and community support is grounded in its core values of Commitment, Respect, Integrity and Teamwork.
Exchange Bank is a 16-time winner of the North Bay Business Journal’s (NBBJ) Best Places to Work survey, a recipient of the 2020 North Bay Community Philanthropy Award and the 2020 Healthiest Companies in the North Bay Award. The Press Democrat Best of Sonoma County Reader’s Choice 2021 named Exchange Bank Best Bank and the NorthBay Biz magazine named Exchange Bank the 2020 Best Consumer Bank and Best Business Bank. The Sonoma Valley People’s Choice awards named Exchange Bank the Best Local Bank 2021 and the North Bay Bohemian’s Best of 2020 Readers Poll named Exchange Bank the Best Business Bank and Best Consumer Bank. Exchange Bank can also be found in the NBBJ’s Book of Lists as a leading lender and wealth management advisor—retaining the #1 position in SBA 7(a) lending in Sonoma County for 2020. www.exchangebank.com.
Member FDIC — Equal Housing Lender — Equal Opportunity Employer
What is the significance of Tom Duryea's appointment at Exchange Bank (EXSR)?
Tom Duryea's appointment as executive vice president and chief banking officer is significant as he brings extensive experience and a focus on customer-facing services, which could enhance the bank's operational effectiveness.
What previous experience does Tom Duryea have before joining Exchange Bank (EXSR)?
Before joining Exchange Bank, Tom Duryea was the CEO of Summit Bank, where he successfully transformed it into a top-performing institution.
How long has Exchange Bank (EXSR) been in operation?
Exchange Bank was founded in 1890 and has been serving the Sonoma County community for over 130 years.
What are the main responsibilities of Tom Duryea as chief banking officer at Exchange Bank (EXSR)?
As chief banking officer, Tom Duryea will be responsible for overseeing Retail, Wholesale Lending, Residential and Consumer Lending, focusing on innovative product delivery.
What is Exchange Bank's (EXSR) asset size?
Exchange Bank has assets totaling $3.5 billion, positioning it as a significant player in the community banking sector.
