Exchange Bank Declares First Quarter Cash Dividend

Rhea-AI Summary

Exchange Bank (EXSR) declared a quarterly cash dividend of $1.30 per share to shareholders of record on March 8, 2024. 50.44% of the dividend will fund the Doyle Scholarships at the Santa Rosa Junior College.

SANTA ROSA, Calif.--(BUSINESS WIRE)-- 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 INFORMATION:

The following appears in accordance with the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking statements about the Company, including descriptions of plans or objectives of its management for future operations, products or services, and forecasts of its revenues, earnings, or other measures of economic performance. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.”

Forward-looking statements, by their nature, are subject to risks and uncertainties. A number of factors—many of which are beyond the Company’s control—could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. Forward-looking statements speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date forward looking statements are made.

About Exchange Bank

Headquartered in Sonoma County and founded in 1890, Exchange Bank is a full-service community bank with assets of $3.37 billion. Exchange Bank provides a wide range of personal, commercial and trust and investment management services with 16 retail branches in Sonoma County, a commercial branch in Roseville and Trust & Investment Management offices in Santa Rosa, Roseville, Marin County 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 known for its people who care about their customers, their company, and the communities where they live and work. Exchange Bank is an 18-year winner of the North Bay Business Journal’s Best Places to Work survey and the 2023 San Francisco Business Times Corporate Philanthropy Award. Exchange Bank was named Best Consumer Bank by the NorthBay biz Magazine’s Best of the North Bay readers’ poll. The Petaluma Argus Courier People’s Choice Awards named Exchange Bank Best Local Bank 2023 and the Bohemian Magazine’s Best of the North Bay 2023 named Exchange Bank Best Business Bank and Best Consumer Bank. www.exchangebank.com

Member FDIC — Equal Housing Lender — Equal Opportunity Employer

View source version on businesswire.com: https://www.businesswire.com/news/home/20240228125344/en/

Charlotte Radmilovic

SVP, Chief Financial Officer

Exchange Bank

(707) 521-3751

Source: Exchange Bank

FAQ

What dividend did Exchange Bank (EXSR) declare per share?

Exchange Bank declared a quarterly cash dividend of $1.30 per share.

When will the dividend be paid?

The dividend will be paid on March 22, 2024.

What percentage of the dividend will fund the Doyle Scholarships at the Santa Rosa Junior College?

50.44% of the first quarter cash dividend, approximately $1.12 million, will be paid to the Doyle Trust which funds the Doyle Scholarships.