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 of $9.64 million for Q4 2022, a slight decrease of 2.16% year-over-year. For the full year, net income rose 2.94% to $37.48 million. The Bank's net interest income increased by 5.97% to $99.14 million, driven by growth in core earning assets. However, a decrease in PPP loan fees negatively impacted results, falling by $6.61 million. Total assets declined to $3.33 billion, and deposits decreased by 3.55% to $3.07 billion. The Bank maintains strong capital ratios and robust liquidity, with total risk-based capital at 19.54% as of December 31, 2022.
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.
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