Exchange Bank Declares Fourth Quarter Cash Dividend

Rhea-AI Summary

On November 16, 2021, Exchange Bank declared a quarterly cash dividend of $1.20 per share, payable on December 10, 2021, to shareholders of record by November 26, 2021. This dividend remains unchanged from the previous quarter. Notably, 50.44% of the dividend funds the Doyle Trust, supporting Doyle Scholarships at Santa Rosa Junior College. With total assets of $3.4 billion, Exchange Bank continues its commitment to community support and financial services.

Positive

• Quarterly cash dividend of $1.20 per share demonstrates stability for shareholders.
• 50.44% of the dividend supports educational initiatives via the Doyle Trust.

Negative

• None.

SANTA ROSA, Calif.--(BUSINESS WIRE)-- On November 16, 2021, the Exchange Bank Board of Directors declared a quarterly cash dividend of $1.20 per share on common stock outstanding to shareholders of record at the close of business on November 26, 2021. The dividend is payable December 10, 2021. The cash dividend is unchanged from the prior quarter’s dividend of $1.20 per share.

50.44% of the Bank’s cash dividend goes 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 premier community bank with assets of $3.4 billion. Exchange Bank provides a wide range of personal, commercial and trust and investment services with 17 branches in Sonoma County and a commercial branch in Roseville, California. 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

View source version on businesswire.com: https://www.businesswire.com/news/home/20211123005555/en/

Shari DeMaris

EVP, Chief Financial Officer

Exchange Bank

(707) 524-3067

Source: Exchange Bank

FAQ

What is the dividend amount declared by Exchange Bank?

Exchange Bank declared a quarterly cash dividend of $1.20 per share.

When is the dividend payable to shareholders?

The dividend is payable on December 10, 2021.

What is the record date for the dividend?

The record date for the dividend is November 26, 2021.

How does Exchange Bank support the community through its dividend?

50.44% of the cash dividend goes to the Doyle Trust, funding scholarships at Santa Rosa Junior College.

What is the total asset value of Exchange Bank?

Exchange Bank has total assets valued at $3.4 billion.