Message from the President of Exchange Bank
Message from the President of Exchange Bank
March 17, 2023
On Monday of this week, as the troubling news about the closures of Silicon Valley Bank and Signature Bank blanketed the media, I shared a quick message reminding you of the financial health, safety and security of Exchange Bank. I wanted to take a moment to update and expand upon that prior message.
The federal government, through the decisive and innovative actions of the FDIC and the Federal Reserve, has helped to calm the market and highlight the security of the US banking system. By standing behind 100% of the deposits of the two closed banks, and by creating additional sources of liquidity for all banks, they have demonstrated their ongoing commitment to the strength of US banks.
At Exchange Bank, our financial condition is strong. We maintain a capital level that is far in excess of what is considered well-capitalized by our regulators. We also maintain more than adequate excess liquidity.
Community banks such as Exchange Bank are the backbone of the US banking system. Simply said, we know our customers and our customers know us. At Exchange Bank, over 60% of our deposits are held by consumers. We also bank a diverse group of business customers, mostly small and medium in size, and in virtually every industry found in Sonoma County. Our deposits mirror the diversity of our community. If you have any questions, or would like additional information about FDIC deposit insurance, we would be happy to talk with you.
In our 132-year history, Exchange Bank has stood strong through difficult times – devastating earthquakes, the Great Depression, two world wars, floods and fires. This bank was built to serve our community in both good and challenging times, and our talented and experienced employees take that mission seriously.
We are here for you, as we have been, and as we will be.
Troy Sanderson | President & Chief Executive Officer
March 17, 2023
Aquí en Exchange Bank, nuestra situación financiera es muy sólida. Nosotros mantenemos niveles de capital muy altos, más allá de los niveles requeridos por las instituciones reguladoras. Además, también mantenemos niveles de liquidez muy altos.
Bancos de la comunidad como Exchange Bank son esenciales en el sistema financiero de Estados Unidos. Nosotros conocemos a nuestros clientes y nuestros clientes nos conocen. En Exchange Bank, más del 60% de los depósitos están en manos de consumidores individuales. También servimos un grupo muy diverso de empresas de todo tipo de industrias aquí en el condado de Sonoma; la gran mayoría son empresas pequeñas o medianas. La diversidad de nuestros clientes refleja la diversidad de nuestra comunidad. Si tiene alguna pregunta, o quisiera más información acerca de depósitos asegurados por FDIC, por favor contáctenos, le atenderemos y responderemos todas sus preguntas.
En nuestros 132 años de historia, Exchange Bank se ha mantenido sólido y fuerte a pesar de momentos muy difíciles. Hemos estado aquí para servir a la comunidad a través de terremotos, la Gran Depresión de 1929, 2 guerras mundiales, inundaciones e incendios forestales. Nuestro Banco fue creado para servir a nuestra comunidad en buenos y malos momentos, y todos nuestros empleados, con su talento y experiencia están comprometidos con esa misión.
Estamos aquí para usted, como siempre lo hemos estado, y como siempre lo estaremos.
Troy Sanderson | President & Chief Executive Officer
