Welcome to our dedicated page for Exchange Bank news (Ticker: EXSR), a resource for investors and traders seeking the latest updates and insights on Exchange Bank stock.
Exchange Bank (OTC: EXSR) operates as a full-service community bank serving California markets with personal banking, business banking, financing, and Trust and Investment Management services. The bank was founded in 1890 and is headquartered in Sonoma County, with a retail branch network across the North Bay and Roseville and trust offices in multiple California markets.
Recurring news for Exchange Bank includes unaudited earnings releases, regulatory capital updates, loan portfolio commentary, common stock cash dividend declarations, branch openings, and retail banking management appointments. Updates also cover the bank’s investment securities portfolio, accumulated other comprehensive income treatment, and community-linked dividend distributions through the Doyle Trust.
Exchange Bank (OTC: EXSR) reported a 4.71% increase in net income for Q2 2021, totaling $8.22 million compared to $7.85 million in Q2 2020. Net interest income rose slightly to $23.24 million, aided by $1.52 million from PPP loan fees. Non-interest income surged to $5.95 million, driven by Trust and Investment Management growth. However, the bank foresees challenges in net interest margins and declining fees from account services and SBA income. Total assets increased by 13% to $3.43 billion, while gross loans decreased to $1.68 billion. Capital ratios remain strong at 19.68%.
Exchange Bank (OTC: EXSR) has appointed Thomas Sands as the new vice president and regional sales manager for its southern region. Sands brings 22 years of credit experience from Wells Fargo, where he previously served as regional bank president overseeing 50 branches and over 600 employees. He is a Sacramento State University graduate and is actively involved in community services, including the United Way and the American Red Cross. Exchange Bank has received multiple accolades, including being ranked as the Best Consumer and Business Bank in the North Bay.
On May 18, 2021, Exchange Bank declared a quarterly cash dividend of $1.20 per share for shareholders of record as of June 4, 2021. The dividend remains unchanged from the previous quarter and is payable on June 18, 2021. Notably, 50.44% of the total dividend funds the Doyle Trust, which supports the Doyle Scholarships at Santa Rosa Junior College. Exchange Bank, with assets of $3.1 billion, is recognized for its community engagement and has received several awards for its services and workplace environment.
Exchange Bank (OTC: EXSR) has appointed Brian Rober as Senior Vice President and Chief Information Officer. In this role, he will lead the IT department to enhance internal operations and customer experience through innovative technology solutions. Brian brings over 20 years of experience in the banking industry, with a decade at FIS managing IT infrastructure for community banks. He holds a bachelor’s degree in Business and is pursuing a master’s in Cybersecurity. Exchange Bank is recognized for its workplace environment and community contributions.
Exchange Bank (OTC: EXSR) reported a net income of $8.49 million for Q1 2021, down 1.60% from $8.63 million in Q1 2020. The decline is attributed to reduced net interest income and non-interest income, alongside a provision for loan losses of $1.2 million. Net interest income fell to $23.27 million, while non-interest income decreased to $5.41 million. Total assets rose 24.76% to $3.29 billion, driven by a $624 million increase in deposits. The Bank's capital ratios remain robust, with total risk-based capital at 19.09%. Despite declines, control over operating expenses improved by 11.62%.
Exchange Bank (OTC: EXSR) reported a net income of $9.24 million for Q4 2020, a 1.87% increase from Q4 2019, leading to a total annual net income of $33.70 million. Despite these results, 2020 net income showed a decline from $36.50 million in 2019, influenced by lower net interest income and a $1.8 million provision for loan losses. The bank successfully provided PPP loans worth approximately $260 million to 1,780 small businesses. Total assets rose to $3.14 billion, a 17.43% increase from 2019, driven by a significant rise in deposits.
Exchange Bank (OTC: EXSR) has appointed Shari DeMaris as executive vice president and chief financial officer, effective January 15, 2021. DeMaris joined the bank in October 2020 to prepare for this transition, working alongside outgoing CFO Greg Jahn. With over 23 years in financial leadership, including tenure as CFO at Hills Bank and Trust, she brings a wealth of experience. Exchange Bank, established in 1890, holds $3.1 billion in assets and is recognized for its community support and excellent workplace culture.