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 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.
Exchange Bank (OTC: EXSR) has appointed Bill Ryan as vice president and senior investment officer, overseeing investment management in the South Bay, Sacramento, and Sonoma County markets. With over 30 years in the financial sector, Ryan's background includes key roles at Comerica Bank, Charles Schwab, UBS, and Pacific Stock Exchange. He holds a BA in Economics and Philosophy from Boston College. Exchange Bank, with assets of $3.5 billion, continues to provide a wide array of banking services across its 16 branches.
On May 17, 2022, Exchange Bank's Board declared a quarterly cash dividend of $1.20 per share for shareholders of record by June 3, 2022. The dividend is consistent with the previous quarter’s amount. It will be payable on June 17, 2022. Importantly, 50.44% of this dividend will fund the Doyle Scholarships at Santa Rosa Junior College. Exchange Bank, founded in 1890 and based in Sonoma County, manages assets totaling $3.5 billion, providing a variety of financial services to its community.
Exchange Bank (OTC: EXSR) reported first-quarter 2022 net income of $8.26 million, down 2.77% from $8.49 million in Q1 2021, primarily due to lower net interest income and higher non-interest expenses. Net interest income fell from $23.27 million to $22.38 million, while the net interest margin decreased from 3.08% to 2.67%. Non-interest income rose to $6.10 million. Total assets grew 7.6% to $3.54 billion, with deposits up 10% year-over-year. Book equity decreased 11.3% to $34.4 million due to unrealized losses from investments.
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