Exchange Bank Declares Second Quarter Cash Dividend

Rhea-AI Summary

On May 17, 2024, Exchange Bank declared a quarterly cash dividend of $1.30 per share on common stock to shareholders of record by June 7, 2024. The payment date is June 21, 2024. Notably, 50.44% of the dividend, amounting to approximately $1.12 million, will support the Doyle Trust, which funds scholarships at Santa Rosa Junior College.

Positive

• Exchange Bank declared a quarterly cash dividend of $1.30 per share.
• Shareholders of record by June 7, 2024, will receive the dividend.
• 50.44% of the dividend, around $1.12 million, will benefit the Doyle Trust, supporting scholarships at Santa Rosa Junior College.

Negative

• No specific negative financial or business aspects were disclosed in the press release.

SANTA ROSA, Calif.--(BUSINESS WIRE)-- On May 17, 2024, the Exchange Bank 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 June 7, 2024. The dividend will be paid on June 21, 2024.

50.44%, approximately $1.12 million, of the Bank’s cash dividend will go 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 $3.33 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 and Best Company to do Business in Sonoma County by 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 2024 named Exchange Bank Best Consumer Bank and Best Company in Sonoma County. www.exchangebank.com

Member FDIC — Equal Housing Lender — Equal Opportunity Employer

View source version on businesswire.com: https://www.businesswire.com/news/home/20240522465367/en/

Charlotte Radmilovic

SVP, Chief Financial Officer

Exchange Bank

(707) 521-3751

Source: Exchange Bank

FAQ

What is the dividend declared by Exchange Bank for Q2 2024?

Exchange Bank declared a quarterly cash dividend of $1.30 per share for Q2 2024.

When will the Exchange Bank Q2 2024 dividend be paid?

The Exchange Bank Q2 2024 dividend will be paid on June 21, 2024.

What is the record date for Exchange Bank's Q2 2024 dividend?

The record date for Exchange Bank's Q2 2024 dividend is June 7, 2024.

How much of Exchange Bank's dividend supports the Doyle Trust?

Approximately 50.44%, or $1.12 million, of Exchange Bank's dividend supports the Doyle Trust.

What is the purpose of the Doyle Trust funded by Exchange Bank's dividend?

The Doyle Trust funded by Exchange Bank's dividend provides scholarships at Santa Rosa Junior College.