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Press Releases from 2022


May 23, 2022

Contact: Shari DeMaris, EVP, Chief Financial Officer

707.524.3067

Exchange Bank Declares Second Quarter Cash Dividend

Santa Rosa, CA – On May 17, 2022, the Exchange Bank (OTC:EXSR) Board of Directors declared a quarterly cash dividend of $1.20 per share on common stock outstanding to shareholders of record at the close of business on June 3, 2022. The dividend is payable June 17, 2022. The cash dividend is unchanged from the prior quarter’s dividend of $1.20 per share.

50.44% of the Bank’s cash dividend goes to the Doyle Trust which funds the Doyle Scholarships at the Santa Rosa Junior College.

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Forward looking information

The following appears in accordance with the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking statements about the Company, including descriptions of plans or objectives of its management for future operations, products or services, and forecasts of its revenues, earnings or other measures of economic performance. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.”

Forward-looking statements, by their nature, are subject to risks and uncertainties. A number of factors — many of which are beyond the Company’s control — could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. Forward-looking statements speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date forward looking statements are made.

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About Exchange Bank

Headquartered in Sonoma County and founded in 1890, Exchange Bank is a full-service community bank with assets of $3.5 billion. Exchange Bank provides a wide range of personal, commercial and trust and investment management services with 17 retail branches in Sonoma County, a commercial branch in Roseville and Trust & Investment Management offices in Santa Rosa, Roseville and Silicon Valley. The Bank’s legacy of financial leadership and community support is grounded in its core values of commitment, respect, integrity and teamwork. Exchange Bank is known for its people who care about their customers, their company and the communities where they live and work. The Bank is a 16-year winner of the North Bay Business Journal’s Best Places to Work survey and was named Best Bank by the Press Democrat’s 2021 Best of Sonoma County Reader’s Choice awards. The Sonoma Valley People’s Choice awards named Exchange Bank the Best Local Bank 2021www.exchangebank.com

Member FDIC — Equal Housing Lender — Equal Opportunity Employer


May 5, 2022

Contact: Shari DeMaris, EVP, Chief Financial Officer

707.524.3067

Exchange Bank Announces First Quarter 2022 Earnings

Santa Rosa, CA – On May 4, 2022, Exchange Bank announced results for the first quarter of 2022, reporting net income after taxes of $8.26 million, compared with $8.49 million for the same quarter of 2021, a decrease of 2.77%. The decrease in earnings in the first quarter of 2022 can be attributed to declines in net interest income and increases in non-interest expenses. 

The Bank’s net interest income declined from $23.27 million during the three months ended March 31, 2021 to $22.38 million the same period in 2022. The Bank’s net interest margin decreased from 3.08% in 2021 to 2.67% in 2022. The loss in interest income is due in large part to a decrease in PPP loans fees of $2.82 million from 2021 to 2022. The Bank expects net interest margin challenges to continue into 2022 as market conditions for loans remain very competitive.

Non-interest income increased from $5.41 million in the first quarter of 2021 to $6.10 million in the similar period in 2022. This improvement can be attributed to an increase in consumer and business-related usage fees including interchange fees and ATM network fees. While not at pre-pandemic levels, usage-based fees have recovered from one year ago.

Non-interest expenses increased 8.8% from 2021 to $17.10 million for the first quarter of 2022. The majority of the increase in expenses was related to salaries and benefits. These expenses increased $1.00 million from 2021 to 2022 as open employee positions were filled and pay scales were adjusted to meet market demands.

The quality of the Bank’s loan portfolio remains strong; the Bank did not take a provision for loan losses in the first quarter of 2022. Due to the economic uncertainty in the first quarter of 2021, the Bank elected to strengthen its reserve for potential future losses with a provision for loan loss totaling $1.2 million during the first quarter of 2021.

Total assets increased to $3.54 billion as of March 31, 2022 up from $3.29 billion in 2021, an increase of 7.6%. The Bank’s cash position remains elevated at $308 million but down $120 million from $428 million in 2021. The excess cash remains from prior years and was related to PPP loans and economic stimulus received by our customers.

The Bank continues to deploy excess cash into its investment portfolio. The investment portfolio was $1.61 billion as of March 31, 2022 vs. $1.05 billion one year before. Gross loans decreased from $1.72 billion in 2021 to $1.49 billion in 2022. Overall, loan balances decreased $230 million with $196 million of the decrease coming from forgiveness of PPP loans.

Deposits remain elevated with balances of $3.24 billion as of March 31, 2022. This is a year-over-year increase of $295 million or 10%. It is possible the Bank could experience a certain level of runoff of the excess deposits due to their unusual and short-term nature as they are used to support small business and consumer-related expenses over the next year.

The Bank’s capital ratios remain well in excess of the regulatory definitions of “well capitalized.” As of March 31, 2022, the Bank reported total risk-based capital of 20.18%. The Bank’s book equity decreased $34.4 million, or 11.3%, since March 31, 2021. This change in the Bank’s book equity is due to the unrealized losses associated with the investment portfolio. The unrealized losses have arisen due to the significant increase in interest rates since the end of 2021; the Bank has the intent and ability to hold the investments until maturity and does not expect to recognize the losses. For a comparison, the Bank’s tangible equity, which can also be described as regulatory capital, was $332.8 million as of March 31, 2022, an increase of $28 million over the same period in 2021.  Tangible equity is not impacted by movements in the market value of the Bank’s investment portfolio.

“The Bank again posted solid earnings in the first quarter of 2022 while maintaining strong capital, liquidity and credit quality,” said Troy Sanderson, president and CEO. “We are positioned to take advantage of a rising interest rate environment as we work to safely and smartly deploy our excess liquidity back into our local community.”

50.44% of the Bank’s cash dividend goes to the Doyle Trust which funds the Doyle Scholarships at the Santa Rosa Junior College.

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Forward looking information

The following appears in accordance with the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking statements about the Company, including descriptions of plans or objectives of its management for future operations, products or services, and forecasts of its revenues, earnings or other measures of economic performance. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.”

Forward-looking statements, by their nature, are subject to risks and uncertainties. A number of factors — many of which are beyond the Company’s control — could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. Forward-looking statements speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date forward looking statements are made.

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About Exchange Bank

Headquartered in Sonoma County and founded in 1890, Exchange Bank is a full-service community bank with assets of $3.5 billion. Exchange Bank provides a wide range of personal, commercial and trust and investment management services with 17 retail branches in Sonoma County, a commercial branch in Roseville and Trust & Investment Management offices in Santa Rosa, Roseville and Silicon Valley. The Bank’s legacy of financial leadership and community support is grounded in its core values of commitment, respect, integrity and teamwork. Exchange Bank is known for its people who care about their customers, their company and the communities where they live and work. The Bank is a 16-year winner of the North Bay Business Journal’s Best Places to Work survey and was named Best Bank by the Press Democrat’s 2021 Best of Sonoma County Reader’s Choice awards. The Sonoma Valley People’s Choice awards named Exchange Bank the Best Local Bank 2021www.exchangebank.com

Member FDIC — Equal Housing Lender — Equal Opportunity Employer


February 25, 2022

Contact: Shari DeMaris, EVP, Chief Financial Officer

707.524.3067

Exchange Bank Declares First Quarter Cash Dividend

Santa Rosa, CA – On February 15, 2022, the Exchange Bank (OTC:EXSR) Board of Directors declared a quarterly cash dividend of $1.20 per share on common stock outstanding to shareholders of record at the close of business on March 4, 2022. The dividend is payable March 18, 2022. The cash dividend is unchanged from the prior quarter’s dividend of $1.20 per share.

50.44% of the Bank’s cash dividend goes to the Doyle Trust which funds the Doyle Scholarships at the Santa Rosa Junior College

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Forward looking information

The following appears in accordance with the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking statements about the Company, including descriptions of plans or objectives of its management for future operations, products or services, and forecasts of its revenues, earnings or other measures of economic performance. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.”

Forward-looking statements, by their nature, are subject to risks and uncertainties. A number of factors — many of which are beyond the Company’s control — could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. Forward-looking statements speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date forward looking statements are made.

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About Exchange Bank

Headquartered in Sonoma County and founded in 1890, Exchange Bank is a full-service community bank with assets of $3.5 billion. Exchange Bank provides a wide range of personal, commercial and trust and investment services with 17 retail branches in Sonoma County, a commercial branch in Roseville, and trust and investment offices in Santa Rosa, Roseville and Silicon Valley. The Bank’s legacy of financial leadership and community support is grounded in its core values of commitment, respect, integrity and teamwork. Exchange Bank is known for its people who care about their customers, their company, and the communities where they live and work. The Bank is a 16-year winner of the North Bay Business Journal’s Best Places to Work survey and was named Best Bank by the Press Democrat’s 2021 Best of Sonoma County Reader’s Choice awards. The Sonoma Valley People’s Choice awards named Exchange Bank the Best Local Bank 2021.  www.exchangebank.com

Member FDIC — Equal Housing Lender — Equal Opportunity Employer


February 17, 2022

Contact: Shari DeMaris, EVP, Chief Financial Officer

707.524.3067

Exchange Bank Announces Fourth Quarter and Year Ending 2021 Earnings

Santa Rosa, CA – On February 17, 2022, Exchange Bank announced results for the fourth quarter and year ending 2021, reporting net income after taxes of $9.85 million in the fourth quarter of 2021, compared with $9.24 million for the same quarter in 2020, an increase of 6.60%. The Bank achieved net income for the year ended December 31, 2021 of $36.41 million.

“We achieved these solid financial results again with a steady focus on our core mission—assisting our customers, especially our commercial customers, during very difficult economic times,”  said Troy Sanderson, president and CEO.

The Bank continues to support its customers, providing payment deferrals to borrowers who have been negatively impacted by the COVID-19 virus. Exchange Bank expended tremendous internal resources participating in the 2021 round of the SBA Paycheck Protection Program (PPP) under the CARES Act. As a result of this effort, they were successful in providing loans to 1,094 small businesses in the community with loan balances totaling approximately $125 million. This is in addition to the $260 million in PPP loans made by the Bank in 2020.  “We are extremely proud of our lending teams,”  said Sanderson.  “Their work on the PPP loan program in 2021 again provided a desperately-needed lifeline to over one thousand small businesses, many family-owned, in our community.”

Exchange Bank’s net income for 2021 was $36.41 million, compared with $33.70 million in 2020. The increase in earnings can be attributed to increases in non-interest income of $2.11 million and decreases of non-interest expense of $4 million. These increases in net income were offset by the decline in net interest income. The Bank’s 2021 results were heavily influenced by the changing patterns of behavior by both business and consumer clients as well as the fiscal and monetary response of the U.S. Government to the coronavirus pandemic. The Bank’s net interest income declined from $96.38 million during the 12 months ended December 31, 2020 to $93.55 million the same period in 2021. During a period of time when treasury yields remained anchored near historic lows, the Bank’s margin was negatively impacted by declines in yields on loans and investments that surpassed the Bank’s ability to affect a similar decline in interest expense through a lower cost of funds. As a result, the Bank experienced a decline of $2.83 million in net interest income for the 12 months ended December 31, 2021 compared with the similar period in 2020. The loss of interest income was somewhat offset by the increase in interest income as a result of the recognition of SBA fees related to PPP loans of $8.87 million and the growth of other liquid investments totaling approximately $466.54 million. The Bank’s net interest margin decreased from 3.46% in 2020 to 2.87% in 2021. The Bank expects net interest margin challenges to continue into 2022.

Non-interest income increased from $21.54 million in 2020 to $23.65 million in 2021. The Bank’s Trust & Investment Management department exceeded $10 million in income for the first time, ending the year with $10.48 million in income as compared to $8.95 million for 2020. During 2021, the Bank continued to witness significant declines in various elements of deposit service fee income that are directly associated with a weaker level of personal consumption and low interest rates. Fees related to customer account usage were down $435 thousand in 2021 when compared to 2020.

Also adding to the increased net income for 2021 was the Bank’s focus on controlling operating expenses. Adjusting to an environment of generally slower business activity, the Bank was successful in reducing operating expenses during the 12 months ending December 31, 2021, by approximately $4 million or 5.82%. During 2020, the Bank had one-time expenses related to its core operating system conversion of approximately $2.3 million before taxes.

The quality of the Bank’s loan portfolio remains strong; however, due to the economic uncertainty that exists today, the Bank elected to strengthen its reserve for potential future losses with a provision for loan loss totaling $2.00 million during 2021. The Bank took a provision for loan loss of $1.80 million during the similar period in 2020. Overall, the Bank’s balance sheet growth for the year ending December 31, 2021 was bolstered by deposit growth. Total assets increased to $3.53 billion as of December 31, 2021, up from $3.14 billion in 2020, an increase of 12.67%. Gross loans decreased from $1.73 billion in 2020 to $1.51 billion in 2021. Forgiveness of SBA PPP loans accounted for $133.22 million of the decrease.

The Bank experienced a dramatic increase in deposit balances which were up year-over-year by approximately $401 million or 14.42%. This increase in deposits was due in part to the business deposits totaling approximately $125 million relating to the deposit of PPP loan funds received by Bank clients. In addition, proceeds from loan forgiveness and paydowns of $133 million added to cash balances. An additional source of deposits totaling $144 million came from both business and consumer customers who chose to hold more liquid assets during this period of great uncertainty. The increase in deposits led to a material decline in deposit service fee income as a result of the waiver of fees associated with higher customer compensating balances. It is possible the Bank could experience a significant runoff of the excess deposits due to their unusual and short-term nature as they are used to support small business and consumer-related expenses over the next year.

The Bank also grew its investment portfolio by $467 million in 2021 as a result of the increase in deposits during 2021.

The Bank’s capital ratios remain well in excess of the regulatory definitions of  “well capitalized.”  As of December 31, 2021, the Bank reported total risk-based capital of 21.50%

50.44% of the Bank’s cash dividend goes to the Doyle Trust which funds the Doyle Scholarships at the Santa Rosa Junior College.

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Forward looking information

The following appears in accordance with the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking statements about the Company, including descriptions of plans or objectives of its management for future operations, products or services, and forecasts of its revenues, earnings or other measures of economic performance. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words   “believe, ”  “expect, ”  “anticipate,”   “intend,”   “plan,”   “estimate,”   or words of similar meaning, or future or conditional verbs such as  “will,”   “would,”   “should,”   “could,”   or   “may.”

Forward-looking statements, by their nature, are subject to risks and uncertainties. A number of factors — many of which are beyond the Company’s control — could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. Forward-looking statements speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date forward looking statements are made.

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About Exchange Bank

Headquartered in Sonoma County and founded in 1890, Exchange Bank is a full-service community bank with assets of $3.5 billion. Exchange Bank provides a wide range of personal, commercial and trust and investment management services with 17 retail branches in Sonoma County, a commercial branch in Roseville and Trust & Investment Management offices in Santa Rosa, Roseville and Silicon Valley. The Bank’s legacy of financial leadership and community support is grounded in its core values of commitment, respect, integrity and teamwork. Exchange Bank is known for its people who care about their customers, their company and the communities where they live and work. The Bank is a 16-year winner of the North Bay Business Journal’s Best Places to Work survey and was named Best Bank by the Press Democrat’s 2021 Best of Sonoma County Reader’s Choice awards. The Sonoma Valley People’s Choice awards named Exchange Bank the Best Local Bank 2021.   www.exchangebank.com

Member FDIC — Equal Housing Lender — Equal Opportunity Employer


February 16, 2022

Contact: Carolyn Cole-Schweizer, Marketing Services Manager

707.541.1250

Exchange Bank Announces Rick Mossi as Senior Vice President, Retail Banking

Santa Rosa, CA – Exchange Bank announces the promotion of Rick Mossi, senior vice president, Retail Banking, responsible for overseeing Exchange Bank’s branch network, its telephone customer care center and business services sales team. Mossi has over 20 years of regional and branch management experience with Exchange Bank and a strong background in growing consumer, small business and nonprofit relationships. Prior to Exchange Bank, Mossi worked for Bank of America in Northern California in various retail and lending roles. He is a native of Petaluma and very active in the Sonoma County community, including serving as past president of Rotary Club of Petaluma.

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About Exchange Bank

Headquartered in Sonoma County and founded in 1890, Exchange Bank is a full-service community bank with assets of $3.5 billion. Exchange Bank provides a wide range of personal, commercial and trust and investment management services with 17 retail branches in Sonoma County, a commercial branch in Roseville and Trust & Investment Management offices in Santa Rosa, Roseville and Silicon Valley. The Bank’s legacy of financial leadership and community support is grounded in its core values of commitment, respect, integrity and teamwork. Exchange Bank is known for its people who care about their customers, their company and the communities where they live and work. The Bank is a 16-year winner of the North Bay Business Journal’s Best Places to Work survey and was named Best Bank by the Press Democrat’s 2021 Best of Sonoma County Reader’s Choice awards. The Sonoma Valley People’s Choice awards named Exchange Bank the Best Local Bank 2021.   www.exchangebank.com

Member FDIC — Equal Housing Lender — Equal Opportunity Employer


February 10, 2022

Contact: Carolyn Cole-Schweizer, Marketing Services Manager

707.541.1250

Exchange Bank Announces Ann Lobdell Hudson as Senior Vice President, Chief Administrative Officer

Santa Rosa, CA – Exchange Bank announces the promotion of Ann Lobdell Hudson to a newly formed role as senior vice president and chief administrative officer, reporting to Troy Sanderson, president and CEO. She will be responsible for managing internal operation areas of the bank, including bank operations, central services, electronic banking, card services, merchant services, facilities and purchasing and the loan service center. Previously senior vice president of retail banking, Ann has played a critical role in enhancing the customer experience and leading bank-wide initiatives.

“Ann brings significant experience and knowledge of deposit and loan operations, as well as our retail delivery system. I am confident she will help drive the bank toward achieving our strategic objectives and contribute to the overall success of the bank,” said Troy Sanderson, president and CEO.

Ann joined Exchange Bank in 2014 and was promoted to senior vice president, head of retail in 2015. Previous to Exchange Bank, she held senior leadership roles at JPMorgan Chase and WaMu. An active member of the Sonoma County community, Ann is board treasurer for Luther Burbank Center for the Arts and serves on the board of Legal Aid of Sonoma County. She is a past board member of Becoming Independent.

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About Exchange Bank

Headquartered in Sonoma County and founded in 1890, Exchange Bank is a full-service community bank with assets of $3.5 billion. Exchange Bank provides a wide range of personal, commercial and trust and investment management services with 17 retail branches in Sonoma County, a commercial branch in Roseville and Trust & Investment Management offices in Santa Rosa, Roseville and Silicon Valley. The Bank’s legacy of financial leadership and community support is grounded in its core values of commitment, respect, integrity and teamwork. Exchange Bank is known for its people who care about their customers, their company and the communities where they live and work. The Bank is a 16-year winner of the North Bay Business Journal’s Best Places to Work survey and was named Best Bank by the Press Democrat’s 2021 Best of Sonoma County Reader’s Choice awards. The Sonoma Valley People’s Choice awards named Exchange Bank the Best Local Bank 2021.   www.exchangebank.com.

Member FDIC — Equal Housing Lender — Equal Opportunity Employer


February 8, 2022

Contact: Carolyn Cole-Schweizer, Marketing Services Manager

707.541.1250

Exchange Bank Announces Joseph Maurer, Vice President, Business Banking Officer

Santa Rosa, CA – Exchange Bank announces Joseph Maurer as vice president, business banking officer. Joe is an experienced commercial underwriter with 27 years of experience in commercial real estate, commercial/industrial underwriting, and SBA lending.

Prior to joining Exchange Bank in August 2021, Joe was vice president and senior credit analyst/underwriter at United Business Bank, Poppy Bank and North Valley Business Bank. He also held a similar role at National Bank of the Redwoods and gained insurance underwriting experience at Allied Insurance.

Joe graduated from San Jose State University with a B.S in Business Administration with emphasis in Marketing. He has been involved with various community projects including the United Way Schools of Hope tutoring program

Earn It! Keep It! $ave It!

Joe is an active member of the Santa Rosa East Rotary Club as a board member and is a coordinator of Brook Hill School food packing program. He is also a volunteer at the Redwood Empire Food Bank and most recently volunteered for Exchange Bank at the Gravenstein Apple Fair in Sebastopol.

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About Exchange Bank

Headquartered in Sonoma County and founded in 1890, Exchange Bank is a full-service community bank with assets of $3.5 billion. Exchange Bank provides a wide range of personal, commercial and trust and investment management services with 17 retail branches in Sonoma County, a commercial branch in Roseville and Trust & Investment Management offices in Santa Rosa, Roseville and Silicon Valley. The Bank’s legacy of financial leadership and community support is grounded in its core values of commitment, respect, integrity and teamwork. Exchange Bank is known for its people who care about their customers, their company and the communities where they live and work. The Bank is a 16-year winner of the North Bay Business Journal’s Best Places to Work survey and was named Best Bank by the Press Democrat’s 2021 Best of Sonoma County Reader’s Choice awards. The Sonoma Valley People’s Choice awards named Exchange Bank the Best Local Bank 2021.   www.exchangebank.com.

Member FDIC — Equal Housing Lender — Equal Opportunity Employer


February 1, 2022

Contact: Carolyn Cole-Schweizer, Marketing Services Manager

707.541.1250

Exchange Bank Announces Howard Daulton and Keith Woods as Advisory Board Members

Santa Rosa, CA – (February 1, 2022)

Exchange Bank (OTC: EXSR) announces Howard Daulton and Keith Woods as members of the Bank’s newly formed advisory board, both of whom bring extensive experience in business and local leadership.  “We are delighted to have these two well-respected community leaders lay the foundation for our advisory board,” said Troy Sanderson, president and CEO, Exchange Bank. “They will focus on growing awareness of the Bank’s products and services, nurture new business relationships and advise the board of directors and executive management on emerging business trends in the community.”

Before taking on the independent advisory board role, Daulton was previously employed by Exchange Bank for 10 years as SVP, Corporate and Business Development within the executive office and has over 40 years of leadership experience with North Bay banks, including past president of Bank of Petaluma. Daulton has been an active volunteer in the community, serving on the boards of Legal Aid of Sonoma County, Luther Burbank Center for the Arts, Redwood Empire Food Bank and Sonoma County Alliance, previously serving as board president. Daulton grew up in Santa Rosa, then left the area for close to 20 years and returned in 1985.

Keith Woods has been a Sonoma County resident since 1987, most recently leading the North Coast Builders Exchange as CEO for over 20 years, which serves building industry members in Sonoma, Mendocino, Lake and Napa Counties. Previously, he was president and CEO of the Santa Rosa Chamber of Commerce, a position he held for 13 years. Woods is known as an exuberant master of ceremonies for special events around the North Bay, is on the board of the Salvation Army and is proud to have been an Exchange Bank customer for the past 35 years.

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About Exchange Bank

Headquartered in Sonoma County and founded in 1890, Exchange Bank is a full-service community bank with assets of $3.5 billion. Exchange Bank provides a wide range of personal, commercial and trust and investment management services with 17 retail branches in Sonoma County, a commercial branch in Roseville and Trust & Investment Management offices in Santa Rosa, Roseville and Silicon Valley. The Bank’s legacy of financial leadership and community support is grounded in its core values of commitment, respect, integrity and teamwork. Exchange Bank is known for its people who care about their customers, their company, and the communities where they live and work. The Bank is a 16-year winner of the North Bay Business Journal’s Best Places to Work survey and was named Best Bank by the Press Democrat’s 2021 Best of Sonoma County Reader’s Choice awards. The Sonoma Valley People’s Choice awards named Exchange Bank the Best Local Bank 2021.  www.exchangebank.com.

Member FDIC — Equal Housing Lender — Equal Opportunity Employer


January 31, 2022

Contact: Carolyn Cole-Schweizer, Marketing Services Manager

707.541.1250

Exchange Bank Announces Cindy Hume as Vice President, Senior Commercial Underwriter

Santa Rosa, CA – Exchange Bank announces Cindy Hume as vice president, senior commercial underwriter in the Construction & Mortgage Lending Department, reporting to Ali Spitzer, vice president and credit administrator.  Cindy will analyze and underwrite loans ensuring both credit quality and compliance, primarily for Exchange Bank’s Construction and Mortgage Lending division.

Prior to joining Exchange Bank, Cindy was a vice president and senior commercial underwriter at Summit State Bank where she developed her strong analytical skills and quickly advanced within lending.  Prior to her bank career, Cindy worked for a local subcontractor where she developed a solid understanding of construction accounting.

A Sonoma County native, Cindy attended Santa Rosa High School, SRJC and Sonoma State where she earned her bachelor’s degree. She also holds a master’s degree from the University of Southern California. Cindy enjoys volunteering in the community and is currently on the executive board for the North Bay Italian Cultural Foundation.

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About Exchange Bank

Headquartered in Sonoma County and founded in 1890, Exchange Bank is a full-service community bank with assets of $3.5 billion. Exchange Bank provides a wide range of personal, commercial and trust and investment management services with 17 retail branches in Sonoma County, a commercial branch in Roseville and Trust & Investment Management offices in Santa Rosa, Roseville and Silicon Valley. The Bank’s legacy of financial leadership and community support is grounded in its core values of commitment, respect, integrity and teamwork. Exchange Bank is known for its people who care about their customers, their company and the communities where they live and work. The Bank is a 16-year winner of the North Bay Business Journal’s Best Places to Work survey and was named Best Bank by the Press Democrat’s 2021 Best of Sonoma County Reader’s Choice awards. The Sonoma Valley People’s Choice awards named Exchange Bank the Best Local Bank 2021.  www.exchangebank.com.

Member FDIC — Equal Housing Lender — Equal Opportunity Employer


January 14, 2022

Contact: Carolyn Cole-Schweizer, Marketing Services Manager

707.541.1250

Exchange Bank Appoints Fabia Butler as Vice President, Director of Marketing & Community Relations

Santa Rosa, CA – Exchange Bank announced the appointment of Fabia Butler as vice president and director of marketing and community relations, responsible for all marketing, communications and community relations activities in support of the Bank’s strategic priorities.

Butler comes to Exchange Bank with extensive experience in community banking, having held various marketing and community relations positions at Bank of Marin from 2000-2016. Most recently she served in marketing and corporate communications leadership roles with First Republic Bank, Bank of the West and Kaiser Permanente.

“I am thrilled to return to my roots of community banking and am honored to join such a well-respected organization that has made a meaningful difference in Sonoma County,” said Butler.

Butler is a long-time resident of the North Bay and is committed to giving back to the community, having served on the boards of Vivalon (formerly Whistlestop), Buckelew Programs and the Mill Valley Chamber of Commerce, in addition to volunteering in local schools and through Junior Achievement.

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About Exchange Bank

Headquartered in Sonoma County and founded in 1890, Exchange Bank is a premier community bank with assets of $3.5 billion. Exchange Bank provides a wide range of personal, commercial and trust and investment services with 17 retail branches in Sonoma County, a commercial branch in Roseville, and trust and investment offices in Santa Rosa, Roseville and Silicon Valley. The Bank’s legacy of financial leadership and community support is grounded in its core values of Commitment, Respect, Integrity and Teamwork.

Exchange Bank is a 16-time winner of the North Bay Business Journal’s (NBBJ) Best Places to Work survey and was named Best Bank by the Press Democrat’s 2021 Best of Sonoma County Reader’s Choice awards. The Sonoma Valley People’s Choice awards named Exchange Bank the Best Local Bank 2021.  www.exchangebank.com.

Member FDIC — Equal Housing Lender — Equal Opportunity Employer


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