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.
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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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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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.
On February 15, 2022, Exchange Bank (OTC: EXSR) declared a quarterly cash dividend of $1.20 per share, payable to shareholders on March 18, 2022, unchanged from the prior quarter. 50.44% of the dividend will support the Doyle Trust for scholarships at Santa Rosa Junior College. Exchange Bank, with assets of $3.5 billion, provides personal, commercial, and trust services across multiple locations. This continued dividend reflects the bank's stable financial performance and commitment to shareholder returns.
Exchange Bank (OTC: EXSR) reported a net income of $9.85 million for Q4 2021, up 6.60% from $9.24 million in Q4 2020. For the full year, net income reached $36.41 million, compared to $33.70 million in 2020. The rise in earnings is attributed to a $2.11 million increase in non-interest income and a $4 million decrease in non-interest expense. However, net interest income declined from $96.38 million to $93.55 million, impacting the net interest margin, which decreased from 3.46% to 2.87%. Total assets increased to $3.53 billion, with deposits rising by $401 million.