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Exchange Bank Santa Rosa (EXSR) is a prominent financial institution headquartered in Santa Rosa, California, with a longstanding history of serving the community. The bank offers a range of banking services including personal and business banking, loans, mortgages, and investment services. Known for its customer-centric approach, Exchange Bank Santa Rosa is committed to providing personalized financial solutions tailored to meet the unique needs of its clients.
With a strong foundation in community banking, the institution prides itself on fostering local economic growth. Exchange Bank Santa Rosa not only provides traditional banking solutions but also supports community development through various programs and partnerships. Recently, the bank has made significant strides in digital banking, offering a suite of online and mobile banking services designed to enhance user experience and accessibility.
The bank's current projects include expanding its digital platform to include more robust financial tools and resources for small businesses and individual customers. Financially, Exchange Bank Santa Rosa maintains a stable condition with consistent growth in assets and an impressive track record of profitability. The bank's strategic partnerships with local businesses and community organizations further reinforce its commitment to serving the wider community.
As a publicly traded company under the symbol EXSR, Exchange Bank Santa Rosa consistently updates shareholders and potential investors with the latest performance metrics and developments. The bank's news section provides insights into recent achievements, financial reports, and upcoming initiatives, ensuring stakeholders remain well-informed.
Overall, Exchange Bank Santa Rosa is a pivotal financial entity within its region, dedicated to delivering exceptional service and fostering economic prosperity for its clients and community.
Exchange Bank (OTC: EXSR) has appointed Cameron Belvedere as vice president and branch manager of the Santa Rosa Coddingtown branch. This branch is located at 1300 Guerneville Rd., Santa Rosa, CA. Cameron, who began his banking career in 2009, previously worked at Washington Mutual and Rabobank, where he excelled in growing deposits through community engagement and business development. He holds a background in Accounting and Business Communications and is actively involved with the Brandon Champion Foundation, supporting local youth sports.
On November 15, 2022, Exchange Bank's Board of Directors declared a quarterly cash dividend of $1.25 per share, unchanged from the previous quarter, payable on December 9, 2022. Shareholders on record as of November 25, 2022 will receive this dividend. Notably, 50.44% of the dividend will fund Doyle Scholarships at Santa Rosa Junior College. The bank, with assets totaling $3.43 billion, has been recognized for its community support and commitment to service, winning various awards, including Best Local Bank in 2022.
Exchange Bank (OTC: EXSR) reported a net income of $10.07 million for Q3 2022, a 2.23% increase from $9.85 million in Q3 2021. Net interest income rose to $25.99 million, driven by higher core earning assets and a $800,000 one-time life insurance benefit. Non-interest income also improved to $6.50 million. However, non-interest expenses surged by 17.06% to $18.58 million.
Book equity dropped 40.02% due to unrealized losses from the investment portfolio, despite a strong capital ratio of 18.80% as of September 30, 2022. The Bank's regulatory capital increased by 10.17% year-over-year.
On August 16, 2022, Exchange Bank declared a quarterly cash dividend of $1.25 per share, up from $1.20, payable on September 16, 2022, to shareholders of record by September 2, 2022. This marks a $0.05 increase, reflecting the company's commitment to shareholder returns. Notably, 50.44% of the dividend will support the Doyle Trust, benefitting local scholarships. The bank, with assets of $3.5 billion, continues to emphasize community support and customer care.
Exchange Bank (OTC: EXSR) has welcomed Stacey Powers as VP and commercial relationship manager to enhance its Commercial Banking team. With over 35 years of banking experience, Powers aims to drive new relationship growth in the North Bay and Sacramento County regions. She has a rich history working with several banking institutions, including Rabobank and American River Bank, focusing on commercial loans and community support. Exchange Bank, founded in 1890, boasts assets of $3.5 billion and is committed to serving its local community.
Exchange Bank (OTC: EXSR) reported a 15.82% increase in net income for Q2 2022, reaching $9.52 million compared to $8.22 million in Q2 2021. This growth was driven by a $1.3 million rise in net interest income, totaling $24.54 million, and a $0.8 million reduction in provision expense. However, the net interest margin decreased to 2.80%. Non-interest income also saw a minor increase to $6.07 million. The Bank's total assets rose to $3.45 billion.
The bank continues to maintain a strong liquidity position amidst rising interest rates.
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