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 (EXSR) delivers essential financial services through retail banking, commercial lending, and digital platforms. This news hub provides investors and stakeholders with timely updates on the institution's strategic developments and market position.
Access verified press releases and financial disclosures covering earnings reports, regulatory compliance updates, and service expansions. Our curated collection simplifies tracking EXSR's performance in the evolving banking sector.
Discover updates on loan portfolio management, digital innovation initiatives, and community banking programs. Content spans quarterly financial results, leadership announcements, and partnership developments critical for informed decision-making.
Bookmark this page for streamlined access to EXSR's official communications. Combine regular monitoring with independent research to maintain current understanding of the bank's operations and industry standing.
Exchange Bank (OTC: EXSR) reported net income after taxes of $8.8 million in Q4 2024 and $23.85 million for the full year 2024, up from $20.19 million in 2023. The bank's liquidity remains strong at $676.17 million (20.50% of total assets), with available borrowing capacity of $998.34 million.
Key financial metrics include: loan growth of 1.5% year-over-year to $1.62 billion, strong loan quality with nonaccrual loans below 0.70%, and a total risk-based capital ratio of 19.43%. The bank released $5.80 million of allowance for credit losses in Q4. Net interest income decreased 10.20% to $81.26 million in 2024, primarily due to increased funding costs.
Total assets were $3.30 billion, with deposits remaining stable at $2.83 billion. The investment portfolio stood at $1.36 billion, with approximately 75.86% of deposits fully FDIC insured.
Exchange Bank has declared a quarterly cash dividend of $1.30 per share on common stock, payable on December 13, 2024, to shareholders of record as of November 29, 2024. Notably, 50.44% (approximately $1.12 million) of the dividend will be directed to the Doyle Trust, which supports Doyle Scholarships at Santa Rosa Junior College.
Exchange Bank (OTC: EXSR) reported Q3 2024 net income of $4.9 million, down from $6.3 million in Q3 2023. Year-to-date net income through September 2024 reached $15.0 million, up from $13.4 million in the same period of 2023. The bank maintains strong liquidity with $817.1 million in on-balance sheet assets (23.95% of total assets) and $1.00 billion in available borrowing capacity. Total assets stood at $3.41 billion, with loans at $1.60 billion showing strong quality metrics. The bank remains well-capitalized with a total risk-based capital ratio of 19.43% and maintains solid deposit base of $2.82 billion.
Exchange Bank has declared a quarterly cash dividend of $1.30 per share on common stock outstanding. The dividend will be paid on September 20, 2024, to shareholders of record as of September 6, 2024. Notably, 50.44% of the Bank's cash dividend, approximately $1.12 million, will be allocated to the Doyle Trust, which funds the Doyle Scholarships at Santa Rosa Junior College. This declaration demonstrates Exchange Bank's commitment to providing value to its shareholders while also supporting local education initiatives.
Exchange Bank (OTC: EXSR) reported net income after taxes of $5.2 million for the second quarter of 2024, up from $4.9 million in Q1 2024. Key highlights include:
- Strong on-balance sheet liquidity at $715.1 million (21.6% of total assets)
- Available borrowing capacity of $1.03 billion (31.2% of total assets)
- Loan balances increased by $52.1 million (3.4%) year-over-year
- Loan quality remains strong with nonaccrual loans at 0.25% of gross loans
- Well-capitalized with a total risk-based capital ratio of 19.11%
The Bank's net interest income decreased by 10.9% year-over-year due to increased funding costs. However, interest income on assets rose by 9.40% compared to H1 2023. The net interest margin for H1 2024 was 2.61%, down from 3.06% in H1 2023.
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.
Exchange Bank (OTC: EXSR) reported net income after taxes of $4.9 million for the first quarter of 2024. Loan balances increased by $68.3 million since March 31, 2023, with strong loan quality and a total risk-based capital ratio of 18.97%. The bank's net interest income decreased by 17.96% due to higher funding costs, while non-interest income decreased slightly. Total assets remained stable at $3.33 billion, with a well-diversified loan portfolio. Deposits decreased by $109.8 million, with strategic decisions made to maintain core deposit relationships in a competitive market.
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