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News Room 2017 Archive

Press Releases from 2017

December 20, 2017

Contact: Carolyn Cole-Schweizer, Corporate Communications & Social Media Specialist
(707) 541-1250

Exchange Bank Donates $20,000.00 to the Redwood Empire Food Bank in Honor of its Customers and Business Partners this Holiday Season

Santa Rosa, CA – (December 20, 2017) – Exchange Bank (OTC: EXSR) presents a check for $20,000.00 to the Redwood Empire Food Bank.

On hand for Tuesday’s check presentation were Exchange Bank President and CEO, Gary Hartwick, Bill Schrader, Exchange Bank Chairman of the Board and a group of Exchange Bank employees. The check was presented to Redwood Empire Food Bank CEO, David Goodman and COO Jean Larson.

“While many of us are looking forward to the holiday, we know that for many people in Sonoma County it’s a very stressful and unsettled time. On behalf of our loyal customers and business partners, we are proud to make this donation to the Redwood Empire Food Bank. In this season, we believe it is important to pause in gratitude for our blessings and give to the members of our community who need our help,” said Gary Hartwick, President and CEO. “Giving back to our community is an integral part of Exchange Bank’s culture.” In addition to the Redwood Empire Food Bank, Exchange Bank gives well over $600,000.00 annually to local non-profits within the communities it serves.

“Exchange Bank has a long history of serving the community. Through their generous philanthropy, it is clear that they care about the well-being of all people who call Sonoma County home. As a result of their generosity, and that of their customers, many lives are improved each and every day,” said David Goodman, CEO of the Redwood Empire Food Bank. “We are fortunate and grateful to have Exchange Bank with us in this most important work.”

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Redwood Empire Food Bank

The Redwood Empire Food Bank (REFB) is the largest hunger-relief organization serving north coastal California, from Sonoma County to the Oregon border. Since 1987, the REFB has been helping its neighbors in need and currently operates 15 innovative programs under three strategic initiatives – Every Child, Every Day; Senior Security; and the Neighborhood Hunger Network.

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About Exchange Bank

Headquartered in Sonoma County and founded in 1890 with assets of $2.2 billion, Exchange Bank is a premier community bank providing a wide range of personal, commercial and trust and investment services with 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California. 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 12-time winner of the North Bay Business Journal’s North Bay Best Places to Work survey and received the 2016 Healthiest Companies in the North Bay award. NorthBay biz magazine named Exchange Bank 2017 Best Consumer Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders.  www.exchangebank.com.

Member FDIC — Equal Housing Lender — Equal Opportunity Employer

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December 19, 2017

Contact: Carolyn Cole-Schweizer, Corporate Communications & Social Media Specialist
(707) 541-1250

Exchange Bank Welcomes Michael Curley as Vice President, Senior Investment Officer

Santa Rosa, CA – (December 19, 2017) – Exchange Bank (OTC: EXSR) announces that on November 5, 2017, Michael Curley joined Exchange Bank as Vice President, Senior Investment Officer, responsible for client relationships, investment management and financial planning. Michael will continue the success and growth of Exchange Bank’s Trust & Investment Management team.

Michael comes to Exchange Bank from First Republic Securities, LLC where he held the position of Chief Compliance Officer. Prior to that, he held supervisory and compliance management positions at various brokerage and investment advisory firms, including Thomas Weisel Partners, Montgomery & Co., First Albany Capital, Inc. and JP Morgan Chase H&Q. Michael has over 25 years of experience helping individuals, families and businesses be more financially successful.

Mike has been a resident of Petaluma for many years, raising his children and contributing to his community. He obtained his undergraduate degree from Rutgers University and his graduate degree in Finance from Golden Gate University, and is a CFA charterholder.

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About Exchange Bank

Headquartered in Sonoma County and founded in 1890 with assets of $2.2 billion, Exchange Bank is a premier community bank providing a wide range of personal, commercial and trust and investment services with 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California.  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 12-time winner of the North Bay Business Journal’s North Bay Best Places to Work survey and received the 2016 Healthiest Companies in the North Bay award. NorthBay biz magazine named Exchange Bank 2017 Best Consumer Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders.  www.exchangebank.com.

Member FDIC — Equal Housing Lender — Equal Opportunity Employer

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November 22, 2017

Contact: Greg Jahn, EVP, Chief Financial Officer
(707) 524-3218

Exchange Bank Declares Increase to Quarterly Cash Dividend

On November 14, 2017, Exchange Bank declared a quarterly cash dividend of $0.90 per share on common stock outstanding to shareholders of record at the close of business on November 24, 2017. The dividend is payable December 8, 2017. The cash dividend represents an increase of $.05 over the prior quarter’s dividend at $.85 per share. The dividend has increased from $.75 per share during the similar quarter ending December 31, 2016, an increase of 20%.

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.

About Exchange Bank

Headquartered in Sonoma County and founded in 1890 with assets of $2.2 billion, Exchange Bank is a premier community bank providing a wide range of personal, commercial and trust and investment services with 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California.  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 12-time winner of the North Bay Business Journal’s North Bay Best Places to Work survey and received the 2016 Healthiest Companies in the North Bay award. NorthBay biz magazine named Exchange Bank 2017 Best Consumer Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders.  www.exchangebank.com.

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November 2, 2017

Contact: Greg Jahn, EVP, Chief Financial Officer
(707) 524-3218

Exchange Bank Announces Message to the Community and Third Quarter Earnings

Exchange Bank announces results for the third quarter of 2017. Exchange Bank’s third quarter earnings release had been delayed as our efforts at the Bank have been focused on taking care of our employees and the needs of our clients and community during this period of unprecedented loss due to the recent wildfires. Our hearts are with all of the people of Sonoma, Napa, Mendocino and Lake Counties who have been affected by the most devastating fires in California’s history. We applaud and thank the firefighters, first responders, members of law enforcement and medical personnel who have worked tirelessly to aid our community. Our employees and their families are volunteering throughout the community and we are actively engaged with business and civic leaders to address the issues created by these horrific fires: housing, jobs and public safety. From a community standpoint, the Bank has responded in a significant way, increasing its charitable giving to the many non-profit organizations that are directly impacting the relief efforts to support the victims of this disaster.

Exchange Bank announces results for the third quarter of 2017 with net income after tax of $6.6 million, compared to $5.4 million in the third quarter of 2016. This represents an increase of $1.2 million or a 23% increase compared to the same period a year ago. The Bank singled out the continued expansion of the Bank’s Trust and Investment Management business as well as increased activity in our SBA (Small Business Administration) business, as key contributors to the success in financial results.

The primary source of earnings for the Bank is net interest income, the difference between income earned on loans and investments less expenses paid on deposits and borrowings. During the quarter ending September 30, 2017 the Bank’s net interest income increased by $2.3 million or 13% above the similar quarter ending September 30, 2016. The Bank’s increase in net interest income was driven primarily by continued growth in loans which were funded by growth in deposits. Loan growth of $77 million or 5.5% during the 12 month period ending September 30, 2017 was funded by deposit growth of $112 million or 5.9%. Contributing to the increase in net interest income has been the rise in Treasury yields over this past year, which has allowed the Bank to reinvest in loans and investments at more attractive yields compared to the previous periods.

During the nine-months ending September 30, 2017, the Bank achieved net earnings of $19.8 million, compared to $16.1 million during the similar nine-month period in 2016, an increase of approximately $3.7 million or 23.3%. During the nine months ending September 30, 2017, the Bank’s net interest income increased $5.2 million over the similar nine-month period in 2016, an increase of 9.7%. Non-interest income for the nine months ending September 30, 2017 was positively influenced by a litigation settlement of $1.4 million in the second quarter as well as gains on sale of other real estate owned totaling approximately $1.38 million in the first quarter of 2017.

Exchange Bank paid a quarterly cash dividend of $0.85 per share on common stock outstanding to shareholders on September 15, 2017. 50.44% of the 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.

About Exchange Bank

Headquartered in Sonoma County and founded in 1890 with assets of $2.2 billion, Exchange Bank is a premier community bank providing a wide range of personal, commercial and trust and investment services with 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California.  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 12-time winner of the North Bay Business Journal’s North Bay Best Places to Work survey and received the 2016 Healthiest Companies in the North Bay award. NorthBay biz magazine named Exchange Bank 2017 Best Consumer Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders.  www.exchangebank.com.

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August 31, 2017

Contact: Carolyn Cole-Schweizer, Corporate Communications & Social Media Specialist
(707) 541-1250

Exchange Bank Announces Jim Barnett as Vice President, SBA Lending and Business Development Officer in the East Bay

Santa Rosa, CA – (August 31, 2017) – Exchange Bank (OTC: EXSR) announces Jim Barnett as Vice President, SBA Lending and Business Development Officer located in Brentwood, Ca. Jim joined Exchange Bank’s team of lending specialists earlier this year and is helping small business owners get the resources they need to start and grow a successful business.

Jim is a seasoned SBA lender with 13 years of SBA and commercial banking experience and a solid history as a top producer in the industry. Previously, Jim worked for Union Bank, US Bank and Sonoma Bank where he honed his SBA and commercial banking skills.

Jim graduated from the Pacific Coast Banking School in 2012 and is a Santa Rosa native. He attended both Cardinal Newman HS and SRJC, and went on to graduate with a BA in Communications from St. Mary’s College. Jim lives in Brentwood and is an active volunteer in youth sports.

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About Exchange Bank

Headquartered in Sonoma County and founded in 1890 with assets of $2.2 billion, Exchange Bank is a premier community bank providing a wide range of personal, commercial and trust and investment services with 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California.  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 12-time winner of the North Bay Business Journal’s North Bay Best Places to Work survey and received the 2016 Healthiest Companies in the North Bay award. NorthBay biz magazine named Exchange Bank 2017 Best Consumer Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders.  www.exchangebank.com.

Member FDIC — Equal Housing Lender — Equal Opportunity Employer

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August 29, 2017

Contact: Carolyn Cole-Schweizer, Corporate Communications & Social Media Specialist
(707) 541-1250

Exchange Bank Promotes Cherie Chipman to Vice President, Branch Manager of their Rohnert Park Branch

Santa Rosa, CA – (August 29, 2017) – Exchange Bank (OTC: EXSR) announces the promotion of Cherie Chipman to Vice President and Branch Manager Rohnert Park. This promotion is one of several that Cherie has earned since she began with Exchange Bank. Cherie is responsible for overall operations, loan growth, customer service, performance and profitability of the Rohnert Park branch.

Cherie began her career with Exchange Bank in 2008 as a personal banker. She was quickly promoted into a regional premier banking role in support of nine offices in the southern region. In 2015, Cherie was promoted to relationship banker/wholesaler and was instrumental in the creation, rollout and administration of Exchange Bank’s relationship banker program.

Before to coming to Exchange Bank, Cherie held positions in management and accounting in several local financial service organizations. Cherie has an AA degree from Santa Rosa Junior College with certificates in Accounting and Tax Preparation.

Cherie is a Penngrove resident and is very active in the Rohnert Park and Cotati communities. She is a currently vice president of the Cotati-Rohnert Park Educational Foundation and past president of the Cotati Chamber of Commerce.

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About Exchange Bank

Headquartered in Sonoma County and founded in 1890 with assets of $2.2 billion, Exchange Bank is a premier community bank providing a wide range of personal, commercial and trust and investment services with 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California.  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 12-time winner of the North Bay Business Journal’s North Bay Best Places to Work survey and received the 2016 Healthiest Companies in the North Bay award. NorthBay biz magazine named Exchange Bank 2017 Best Consumer Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders.  www.exchangebank.com.

Member FDIC — Equal Housing Lender — Equal Opportunity Employer

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August 24, 2017

Contact: Greg Jahn, EVP, Chief Financial Officer
(707) 524-3218

Exchange Bank Declares Increase to Quarterly Cash Dividend

Santa Rosa, CA — On August 15, 2017, Exchange Bank President and Chief Executive Officer, Gary Hartwick, announced that the Bank’s board of directors has approved—in connection with the Bank’s recently reported net income of $6.5 million—a quarterly cash dividend of $0.85 per share on common stock outstanding to shareholders of record at the close of business on September 1, 2017. The dividend is payable September 15, 2017. The cash dividend, while unchanged from the prior quarter at $.85 per share, has increased from $.70 per share during the similar quarter ending September 30, 2016, an increase of approximately 21%.

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.

About Exchange Bank

Headquartered in Sonoma County and founded in 1890 with assets of $2.2 billion, Exchange Bank is a premier community bank providing a wide range of personal, commercial and trust and investment services with 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California.  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 12-time winner of the North Bay Business Journal’s North Bay Best Places to Work survey and received the 2016 Healthiest Companies in the North Bay award. NorthBay biz magazine named Exchange Bank 2017 Best Consumer Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders.  www.exchangebank.com.

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August 23, 2017

Contact: Carolyn Cole-Schweizer, Corporate Communications & Social Media Specialist

(707) 541-1250

Exchange Bank Announces Terry Fassold as Vice President, Branch Manager of their Reinking Branch in Montgomery Village

Santa Rosa, CA – (August 23, 2017) – Exchange Bank (OTC: EXSR) announces Terry Fassold as Vice President and Branch Manager of their Reinking branch in Montgomery Village in Santa Rosa. Terry joined Exchange Bank earlier this year and is responsible for overall operations, customer service, performance and profitability.

Terry has over 22 years of regional sales management and sales leadership experience. He comes to us from Bank of America where he held positions as VP branch manager, SVP consumer market manager, SVP premier market manager, and SVP retail home loans manager.

Terry is originally from the Pacific Northwest. He has lived in Sonoma County since 2006. Terry enjoys coaching youth sports and volunteering for the Boys & Girls Club of Sonoma County, the Juvenile Diabetes Research Foundation, the Leukemia & Lymphoma Society’s Light the Night Walk and Becoming Independent.

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About Exchange Bank

Headquartered in Sonoma County and founded in 1890 with assets of $2.2 billion, Exchange Bank is a premier community bank providing a wide range of personal, commercial and trust and investment services with 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California.  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 12-time winner of the North Bay Business Journal’s North Bay Best Places to Work survey and received the 2016 Healthiest Companies in the North Bay award. NorthBay biz magazine named Exchange Bank 2017 Best Consumer Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders.  www.exchangebank.com.

Member FDIC — Equal Housing Lender — Equal Opportunity Employer

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August 23, 2017

Contact: Carolyn Cole-Schweizer, Corporate Communications & Social Media Specialist
(707) 541-1250

Exchange Bank Announces Becky Ettinger as Vice President, Commercial Loan Officer

Santa Rosa, CA – (August 23, 2017) – Exchange Bank (OTC: EXSR) announces Becky Ettinger as Vice President, Commercial Loan Officer, responsible for portfolio maintenance and business development. Becky joined Exchange Bank in 2010 and recently transferred to the Commercial Banking Group from the Sonoma branch where she held the position of vice president and branch manager.

Becky has 29 years of banking experience in the Sonoma area.  She is past president of the Sonoma Valley Chamber of Commerce and currently holds a board seat and participates in various community events.

Becky was awarded a certificate of completion for the California Bankers Association Commercial Lending School in 2008, enhancing her skills in accounting principles and financial analysis.

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About Exchange Bank

Headquartered in Sonoma County and founded in 1890 with assets of $2.2 billion, Exchange Bank is a premier community bank providing a wide range of personal, commercial and trust and investment services with 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California.  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 12-time winner of the North Bay Business Journal’s North Bay Best Places to Work survey and received the 2016 Healthiest Companies in the North Bay award. NorthBay biz magazine named Exchange Bank 2017 Best Consumer Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders.  www.exchangebank.com.

Member FDIC — Equal Housing Lender — Equal Opportunity Employer

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August 23, 2017

Contact: Carolyn Cole-Schweizer, Corporate Communications & Social Media Specialist
(707) 541-1250

Exchange Bank Welcomes Britt Cooper as Vice President, Branch Manager of Sonoma Branch

Santa Rosa, CA – (August 23, 2017) – Exchange Bank (OTC: EXSR) welcomes Britt Cooper as Vice President, Branch Manager of their Sonoma branch, responsible for overall operations, customer service, performance and profitability. Britt returns to Exchange Bank, having previously held branch manager positions in both the Windsor and Coddingtown branches from 2002 to 2007.

Britt has 30 years of management, business development and community relations experience and worked most recently as a market manager for Bank of Marin.

Britt has a bachelor’s degree from CSU Sacramento, a master’s degree from USF and is a graduate of Pacific Coast Banking School. He served on the board for the Volunteer Center of Sonoma County and participates in various community events.

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About Exchange Bank

Headquartered in Sonoma County and founded in 1890 with assets of $2.2 billion, Exchange Bank is a premier community bank providing a wide range of personal, commercial and trust and investment services with 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California.  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 12-time winner of the North Bay Business Journal’s North Bay Best Places to Work survey and received the 2016 Healthiest Companies in the North Bay award. NorthBay biz magazine named Exchange Bank 2017 Best Consumer Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders.  www.exchangebank.com.

Member FDIC — Equal Housing Lender — Equal Opportunity Employer

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August 23, 2017

Contact: Carolyn Cole-Schweizer, Corporate Communications & Social Media Specialist
(707) 541-1250

Exchange Bank Welcomes Kevin Smart as Vice President, Residential Mortgage Manager

Santa Rosa, CA – (August 23, 2017) – Exchange Bank (OTC: EXSR) welcomes Kevin Smart as their new Vice President, Residential Mortgage Manager, responsible for expanding mortgage production. Kevin has an extensive 24-year mortgage industry background and will continue the success and growth of Exchange Bank’s Residential Lending Department.

Kevin comes to Exchange Bank from Wells Fargo, where he held the position of branch sales manager. He was recognized for his performance in production, compliance and customer loyalty.  Kevin has 24 years of experience within the mortgage industry and previously owned his own mortgage brokerage business.

Kevin graduated from CSU Sacramento with a B.S. in Business Administration with a concentration in Real Estate Finance and Land Use Affairs.  Kevin has made his home in Sonoma County since 1993 and has been involved with local charities and many real estate affiliates to raise funds for the youth of Sonoma County.

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About Exchange Bank

Headquartered in Sonoma County and founded in 1890 with assets of $2.2 billion, Exchange Bank is a premier community bank providing a wide range of personal, commercial and trust and investment services with 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California.  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 12-time winner of the North Bay Business Journal’s North Bay Best Places to Work survey and received the 2016 Healthiest Companies in the North Bay award. NorthBay biz magazine named Exchange Bank 2017 Best Consumer Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders.  www.exchangebank.com.

Member FDIC — Equal Housing Lender — Equal Opportunity Employer

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August 18, 2017

Contact: Carolyn Cole-Schweizer, Corporate Communications & Social Media Specialist
(707) 541-1250

Exchange Bank Celebrates Grand Opening of New Branch in East Petaluma

Santa Rosa, CA – (August 18, 2017) – Exchange Bank (OTC:EXSR) celebrated the grand opening of its new Petaluma East branch with a ribbon cutting ceremony and reception on Thursday, August 17, 2017. The event was co-hosted by the Petaluma Chamber of Commerce and held at the new location at 453 N. McDowell Blvd., Suite 10, Petaluma, CA 94954.

In attendance at the event were Exchange Bank and Petaluma Chamber customers, members and guests. The new branch opened its doors on Monday, June 19, 2017 and replaces a branch previously located at 701 Sonoma Mountain Parkway in Petaluma.

The new branch is designed to make customers feel welcome the moment they walk in. The design elements reflect the natural colors and textures found in the community and provide an open feeling that customers have described as “beautiful, open and spacious.” The traditional branch design has been replaced by an environment that allows customers to move at their own pace between technology-based transactions and personal service.

“Our vision was to create a warm, welcoming space that reflects the spirit of the community, where our customers feel comfortable transacting business and receiving financial advice,” said Ann Hudson, Senior Vice President, Retail Banking.

The new branch includes a lounge-like area with “smart” screens featuring financial education and community events, a coffee bar, free Wi-Fi, digital technology, and a kids zone to keep little ones busy while parents do their banking. Customers interact with banking specialists at “pods” equipped with cash recyclers for quick service. Glass door offices offer privacy for consultation and in-depth interactions.

“We want to continue to evolve the Bank to meet the needs of our customers—with innovative spaces, technology and knowledgeable staff members,” said Ann.

Business hours at the new location remain unchanged (Monday-Thursday 9am-5pm, Friday 9am-6pm) with the addition of Saturday hours from 9am-1pm, giving customers one more day to do their banking.

The staff at our new branch look forward to greeting customers and visitors. Edie Cheda, Vice President/Branch Manager and a Petaluma native, is available to answer questions.

Edie can be contacted at (707) 766-1544.

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About Exchange Bank

Headquartered in Sonoma County and founded in 1890 with assets of $2.2 billion, Exchange Bank is a premier community bank providing a wide range of personal, commercial, and trust and investment services with 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California.  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 an 11-time winner of the North Bay Business Journal’s North Bay Best Places to Work survey and received the 2016 Healthiest Companies in the North Bay award. NorthBay biz magazine named Exchange Bank 2016 Best Business Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders.  www.exchangebank.com.

Member FDIC — Equal Housing Lender — Equal Opportunity Employer

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July 25, 2017

Contact: Greg Jahn, EVP, Chief Financial Officer
(707) 524-3218

Exchange Bank Announces Second Quarter Earnings

Santa Rosa, CA – (July 25, 2017) – Exchange Bank (OTC: EXSR) today announced results for the second quarter of 2017 with a profit after tax of $6.51 million, compared to $5.45 million in the second quarter of 2016. This represents a 20% increase compared to the same period a year ago. Core earnings for the Bank continue to experience solid growth as evidenced by an increase in net interest income of $1.4 million or 7.9% for the quarter ending June 30, 2017 compared to the similar quarter in 2016. Contributing to the positive trend in net interest income was growth in the loan portfolio of $131 million or a 10% increase in loans outstanding as of June 30, 2016. This strong loan growth was funded by an increase in deposits totaling $169 million, an increase of 9.2% above deposit balances at June 30, 2016.

Second quarter earnings were positively influenced by a couple of unusual events. During the quarter ending June 30, 2017 the Bank experienced a gain of $1.4 million relating to a litigation settlement. This unusual and nonrecurring event was somewhat offset by a one-time expense of $220 thousand recorded as interest expense relating to the early payoff of $6 million in high rate paying borrowings from the Federal Home Loan Bank.

During the six-months ending June 30, 2017, the Bank achieved net earnings of $13.15 million, compared to $10.66 million during the similar six-month period in 2016, an increase of approximately $2.5 million or 23.4%. During the six-months ending June 30, 2017, the Bank’s core earnings as measured by net interest income increased $2.9 million over the similar six-month period in 2016, an increase of 8.1%. Noninterest income for the six-months ending June 30, 2017 was positively influenced by the aforementioned litigation settlement of $1.4 million in the second quarter as well as gains on sale of other real estate totaling approximately $1.38 million in the first quarter of 2017. Similarly, earnings during the six months ending June 20, 2016 were positively influenced by recovery of provision for loan loss totaling $900 thousand, while no such recoveries were recognized during 2017.

“Given the volatility we have witnessed over this past year in the direction of interest rates, and the continued uncertainty relating to the direction of fiscal and monetary policy, we are pleased with the results of the Bank. The ability to fund the credit needs of the communities we serve with net loan growth of $131 million is both the result of the dedication and hard work of our employees as well as the confidence the community places in Exchange Bank,” stated President and Chief Executive Officer, Gary Hartwick.

Exchange Bank paid a quarterly cash dividend of $0.85 per share on common stock outstanding to shareholders on June 16, 2017. 50.44% of the 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.

About Exchange Bank

Headquartered in Sonoma County and founded in 1890 with assets of $2.2 billion, Exchange Bank is a premier community bank providing a wide range of personal, commercial, and trust and investment services with 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California.  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 an 11-time winner of the North Bay Business Journal’s North Bay Best Places to Work survey and received the 2016 Healthiest Companies in the North Bay award. NorthBay biz magazine named Exchange Bank 2016 Best Business Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders.  www.exchangebank.com.

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May 18, 2017

Contact: Greg Jahn, EVP, Chief Financial Officer
(707) 524-3218

Exchange Bank Declares Increase to Quarterly Cash Dividend

Santa Rosa, CA – (May 18, 2017) Exchange Bank (OTC: EXSR) declared a quarterly cash dividend of $0.85 per share on common stock outstanding to shareholders of record at the close of business on June 2, 2017. The dividend is payable June 16, 2017. The cash dividend was increased by $0.05 per share or 6% above the previous quarterly dividend of $0.80 per share. Exchange Bank President and CEO, Gary Hartwick, stated “The Exchange Bank Board of Directors remains confident in the Bank’s ability to deliver a sustainable level of financial success that will support this level of dividend payout to our valued shareholders. The key to this success continues to be a strong balance sheet that consistently demonstrates outstanding credit quality, the dedication of our employees and the support from our customers and shareholders.” 50.44% of the Bank’s cash dividend goes to the Doyle Trust which funds the Doyle Scholarships at the Santa Rosa Junior College.

###

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.

About Exchange Bank

Headquartered in Sonoma County and founded in 1890 with assets of $2.2 billion, Exchange Bank is a premier community bank providing a wide range of personal, commercial, and trust and investment services with 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California.  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 an 11-time winner of the North Bay Business Journal’s North Bay Best Places to Work survey and received the 2016 Healthiest Companies in the North Bay award. NorthBay biz magazine named Exchange Bank 2016 Best Business Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders.  www.exchangebank.com.

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April 19, 2017

Contact: Greg Jahn, EVP, Chief Financial Officer
(707) 524-3218

Exchange Bank Announces First Quarter Earnings – 4.19.17

Santa Rosa, CA – (April 19, 2017) – Exchange Bank (OTC: EXSR) today announced results for the first quarter of 2017 with a profit after tax of $6.63 million, compared to $5.21 million in the first quarter of 2016. This represents an increase of $1.42 million or 27.3% over the same period a year ago.

The increase in earnings can be attributed to both an increase in core earnings of the Bank as a result of increased net interest income as well as nonrecurring earnings in the form of gains on the sale of other real estate owned (OREO). During the first quarter of 2017, the Bank successfully completed the sale of OREO, which contributed pretax gains of approximately $1.38 million. There was no such gain on the sale of assets during the similar quarter in 2016. Conversely, in 2016 the Bank recognized a recovery of a $500 thousand provision for loan loss reserves that was taken back into income. There was no similar recapture of provision for loan losses during the first quarter of 2017. The Bank did not make any provision for losses on loans during the first quarter of 2017 or 2016. The Bank’s level of reserves to support future loan losses remains strong in comparison to industry standards and is further supported by reductions in problem assets and the ongoing decline in net loan charge-offs.

“While this was another strong quarter of financial performance, as demonstrated by the increased net interest income, it is important to note that the unusual nature of the gains on the sale of other real estate owned totaling almost $1.38 million is not anticipated in future periods,” said Greg Jahn, executive vice president and CFO.

The strength in core earnings was driven primarily by continued growth in loans and deposits, leading to an increase in net interest income of approximately $1.5 million during the first quarter of 2017, an 8% increase over the similar quarter in 2016. Loans grew by approximately $151 million over the 12 months ending March 31, 2017, an increase of 11.9%. Deposits increased by approximately $124 million over totals reported as of March 31, 2016, an increase of 6.8%.

Absent the gain on sale of OREO, the Bank’s non-interest income increased by approximately $650 thousand during the first quarter of 2017 compared to the similar quarter in 2016, and was driven by increases in gain on sale of Small Business Administration (SBA) loans, as well as income generated by the Bank’s Trust and Investment business.

“We are pleased to report strong earnings this quarter driven by significant loan growth in the fourth quarter of 2016 and strong growth in our core deposits,” said Gary Hartwick, president and CEO. “In support of our mission, we are committed to building strong long-term relationships with our clients while maintaining strong credit quality.”

Exchange Bank paid a quarterly cash dividend of $0.80 per share on common stock outstanding to shareholders on March 17, 2017. 50.44% of the cash dividend goes to the Doyle Trust which funds the Doyle Scholarships at the Santa Rosa Junior College.

###

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.

About Exchange Bank

Headquartered in Sonoma County and founded in 1890 with assets of $2.2 billion, Exchange Bank is a premier community bank providing a wide range of personal, commercial, and trust and investment services with 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California.  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 an 11-time winner of the North Bay Business Journal’s North Bay Best Places to Work survey and received the 2016 Healthiest Companies in the North Bay award. NorthBay biz magazine named Exchange Bank 2016 Best Business Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders.  www.exchangebank.com.

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April 10, 2017

Contact: Carolyn Cole-Schweizer, Corporate Communications & Social Media Specialist
(707) 541-1250

Exchange Bank Names Connie Codding as this Year’s Winner of the Frank P. Doyle Philanthropy Award

Santa Rosa, CA – (April 10, 2017) – Exchange Bank (OTC:EXSR) Exchange Bank names Connie Codding as this year’s winner of the Frank P. Doyle Philanthropy Award, honoring local businesses and their leaders who meet critical community needs.

Connie Codding, executive vice president of Codding Enterprises and president of the Codding Foundation, a family philanthropic foundation benefiting young people in Sonoma County, was recognized along with 23 winners of North Bay Business Journal’s Community Philanthropy Awards at the fourth annual luncheon on March 31 at Hyatt Vineyard Creek in Santa Rosa.

The goal of the Frank P. Doyle award is to select an individual or organization that both reflects and shares the core values of bank co-founder, Frank Doyle, in giving back to the community.

“Connie is a philanthropist with a passion for helping young people,” said Gary Hartwick, president and CEO of Exchange Bank. “Her support in the community is a testament to her commitment and concern for the health and welfare of our youth and young adults.”

Connie’s gifts to Sonoma County community organizations are numerous. She is a supporter of family planning and played a crucial role in the preservation of the clinic at Elsie Allen High School operated by Santa Rosa Community Health Centers. Connie co-chaired the successful Campaign Committee for SAY’s Dream Center and sits on the board of PDI Surgery Center, which provides urgently needed oral surgery to children from low-income families.

The Codding Foundation has supported a long list of programs over the years, including the 4-H Club, Memorial Hospital, the Sonoma County Museum, Southwest Community Health Clinic, the Earle Baum Center of the Blind, Santa Rosa Boys & Girls Club, the Santa Rosa Junior College Foundation, the Sonoma County Community Foundation and the Children’s Health Network.

Codding Enterprises is currently developing Sonoma Mountain Village, a One Planet sustainable community located in Rohnert Park. Connie also serves on the advisory board of the Osher Lifelong Learning Institute at Sonoma State.

“The giving spirit of Connie Codding and her dedication to the community—especially our youth—sets her apart,” said Hartwick. “Exchange Bank is proud to recognize her with the Frank P. Doyle Philanthropy Award.”

###

About Exchange Bank

Founded in 1890 and headquartered in Sonoma County with assets of $2.2 billion, Exchange Bank is a premier community bank providing a wide range of personal, commercial and trust and investment services. Exchange Bank has 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California.  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 an 11-time winner of the North Bay Business Journal’s North Bay Best Places to Work survey and received the 2016 Healthiest Companies in the North Bay award. NorthBay biz magazine named Exchange Bank 2016 Best Business Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders.  www.exchangebank.com.

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March 7, 2017

Contact: Carolyn Cole-Schweizer, Corporate Communications & Social Media Specialist
(707) 541-1250

Exchange Bank Names John Mackey as Senior Vice President & Managing Director of Investment & Fiduciary Services

Santa Rosa, CA – (March 7, 2017) – Exchange Bank (OTC:EXSR) announces that its Board of Directors has named John Mackey to be Senior Vice President and Managing Director of Investment & Fiduciary Services, reporting to Chief Financial Officer Greg Jahn, beginning February 27, 2017. The Department provides full fiduciary services in trust administration and investment management. Since receiving its trust powers in 1963, Exchange Bank has grown to be one of the largest and most respected trust departments in Northern California.

To provide continuity, Mr. Mackey will work alongside retiring Trust and Investment Managing Director Steven T. Jenkins during a transition period to oversee day-to-day business operations, and lead strategic planning and business development efforts.  Mr. Jenkins has made an indelible mark on the Department since joining the Bank in 1996.  Assets under administration have grown from $250 million to over $1 billion.

“It has been both a pleasure and an honor to work alongside a team of truly outstanding fiduciaries and John is the ideal choice to take the Trust and Investment Management to the next level,” said Mr. Jenkins. “We look forward to taking advantage of his vast experience working with affluent families and business owners to serve their retirement and wealth management needs. I believe our clients will personally benefit greatly from John’s leadership, expertise, and strategic vision.”

Mr. Mackey has 33 years of experience managing professionals with diverse skills and responsibilities in the areas of financial and succession planning, investment management, retirement planning, and estate planning.  He was the Senior Executive managing Wealth Management at Comerica Bank in the Silicon Valley Region, the President of the Greater Bay Private Capital Bank in Palo Alto, and a founding member of the Family Wealth Group at Wells Fargo Bank.

###

About Exchange Bank

Founded in 1890 and headquartered in Sonoma County with assets of $2.2 billion, Exchange Bank is a premier community bank providing a wide range of personal, commercial and trust and investment services. Exchange Bank has 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California.  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 an 11-time winner of the North Bay Business Journal’s North Bay Best Places to Work survey and received the 2016 Healthiest Companies in the North Bay award. NorthBay biz magazine named Exchange Bank 2016 Best Business Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders.  www.exchangebank.com.

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March 1, 2017

Contact: Greg Jahn, EVP, Chief Financial Officer
(707) 524-3218

Exchange Bank Declares Increase to Quarterly Cash Dividend

On February 22, 2017, Exchange Bank declared a quarterly cash dividend of $0.80 per share on common stock outstanding to shareholders of record at the close of business on March 6, 2017. The dividend is payable March 17, 2017. The cash dividend was increased by $0.05 per share or 7% above the previous quarterly dividend of $0.75 per share.

Exchange Bank President and CEO, Gary Hartwick, stated “The Exchange Bank Board of Directors contributes the increased level of dividend payout to the Bank’s strong balance sheet and positive trend in earnings.”

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

###

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.

About Exchange Bank

Founded in 1890 and headquartered in Sonoma County with assets of $2.2 billion, Exchange Bank is a premier community bank providing a wide range of personal, commercial and trust and investment services. Exchange Bank has 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California.  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 an 11-time winner of the North Bay Business Journal’s North Bay Best Places to Work survey and received the 2016 Healthiest Companies in the North Bay award. NorthBay biz magazine named Exchange Bank 2016 Best Business Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders.  www.exchangebank.com.

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February 16, 2017

Contact: Carolyn Cole-Schweizer, Corporate Communications & Social Media Specialist
(707) 524-1250

Exchange Bank Welcomes Antonio Rosales, Residential Mortgage Loan Consultant, Invested in Serving the Hispanic Community

Santa Rosa, CA – (February 16, 2017) – Exchange Bank (OTC:EXSR) welcomes Antonio Rosales to their Residential Mortgage Department effective January 3, 2017. Antonio is responsible for supporting home loan servicing and enhancing the lending experience for Hispanic consumers.

A seasoned residential mortgage professional, Antonio has been originating residential mortgages in Sonoma County for the past 19 years and has worked for various mortgage brokers. He understands the Hispanic market and the challenges of the Latino community. “I believe in developing strong relationships with my clients,” said Antonio. “I consider them an extension of my family. I understand what keeps them up at night and I am committed to taking care of their needs. I want to help my clients achieve the American Dream.”

Antonio has lived in Sonoma County for over 50 years. He grew up in Healdsburg and attended both Santa Rosa Junior College and Sonoma State University. He began as a bilingual loan agent in 1997. Antonio’s ability to provide service in both Spanish and English makes the home buying process faster and easier. Antonio’s clients benefit from a clear understanding of financing options, credit and proof of residency requirements. Beyond mortgage loan consulting, Antonio can connect borrowers with qualified Spanish-speaking real estate agents and escrow officers.

Antonio is actively involved in the Sonoma County soccer and tennis communities, serving as president, manager and coach for various leagues and clubs. He volunteers his time to several schools and clubs in the Roseland District, and regularly attends Chamber of Commerce meetings to keep up on important issues that impact the community.

Antonio is available to assist Spanish-speaking borrowers at the Exchange Bank Santa Rosa Main, Dutton and Stony Point branches. He is available at all other branches and on Saturdays by appointment.

###

About Exchange Bank

Founded in 1890 and headquartered in Sonoma County with assets of $2.2 billion, Exchange Bank is a premier community bank providing a wide range of personal, commercial and trust and investment services. Exchange Bank has 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California.  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 an 11-time winner of the North Bay Business Journal’s North Bay Best Places to Work survey and received the 2016 Healthiest Companies in the North Bay award. NorthBay biz magazine named Exchange Bank 2016 Best Business Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders.  www.exchangebank.com.

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February 7, 2017

Contact: Greg Jahn, EVP, Chief Financial Officer
(707) 524-3218

Exchange Bank Announces Fourth Quarter and Year Ending 2016 Earnings

Exchange Bank reported net income of $5.45 million in the fourth quarter of 2016, compared to $5.14 million for the same period in 2015, an increase of 6.1%. Net income for the year ending December 31, 2016, totaled $21.5 million, compared to $21.0 million a year ago, an increase of 2.3%. The Bank’s core earnings however, which represents income before provision for income taxes and excluding provision for loan loss, increased $2.9 million or 9.4% above the reported core earnings of $30.8 million reported in 2015. The largest component of the adjustment to core earnings was the decline in the reversal of the provision for loan losses, which declined from $3.2 million in 2015 to $900 thousand in 2016. “Given the continued low interest rate environment within which the Bank operated through most of the year, the Bank’s increase in earnings is truly noteworthy. All things considered, we are very pleased with the significant improvement in the financial results and overall condition of the Bank,” stated Gary Hartwick, President and CEO.

The core earnings of the Bank were driven primarily by continued growth in loans, which were funded by significant growth in deposits. The growth in loans led to an increase in net interest income of approximately $4.9 million for the year ending December 31, 2016, a 7.3% increase over the year ending December 31, 2015. The Bank experienced loan growth of approximately $148 million or 11.6% over 2015, which represented the strongest year of loan growth we have witnessed since the economic downturn in 2008. This growth in loans was funded primarily by growth in deposits of approximately $104 million, an increase of 5.7% over 2015. “The Bank’s financial accomplishments and the success in growing the loan portfolio is a reflection of the continued improvement in the local economies in which we operate. The Bank’s ability to grow the loan portfolio can be further attributed to the dedicated efforts of our team at Exchange Bank, and our customers’ confidence in Exchange Bank to help meet their financing needs,” said Gary Hartwick, President and CEO.

Contributing to the increase in core earnings was the Bank’s Trust and Investment Division which experienced a growth in revenues during 2016 of 4.5% to approximately $6.4 million as compared to $6.1 million for the 2015 period. Additionally, the Bank’s focus on efficiency led to a modest 2.1% growth in total operating expenses. “Despite many uncertainties, such as the impacts of potential changes to fiscal and monetary policy, we believe the Bank is well positioned to deal with the challenges ahead,” stated Greg Jahn, Executive Vice President and CFO.

The Bank’s credit quality remains strong, with non-accrual loans declining to just 0.17% of total loans at December 31, 2016, from 0.33% of total loans a year ago. Despite our significant loan growth, as a result of the continued improvement in asset quality and net loan recoveries, the Bank did not make any provision for loan losses in 2016, and was able to maintain a strong ratio of loan loss reserves to total loans of 2.68%. In addition, the Bank’s capital ratios remain in excess of the regulatory definitions of “well capitalized.” As of December 31, 2016, the Bank reported total risk-based capital of 12.71%.

Exchange Bank paid a quarterly cash dividend of $0.75 per share on common stock outstanding to shareholders on December 9, 2016. Total dividends paid to Exchange Bank common shareholders during 2016 were $4.8 million and represented an increase of approximately 26% above total dividends of $3.8 million paid to common shareholders during 2015. The Doyle Trust, which funds the Doyle Scholarships at the Santa Rosa Junior College, receives 51% of all cash dividends paid by the Bank.

###

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.

About Exchange Bank

Founded in 1890 and headquartered in Sonoma County with assets of $2.2 billion, Exchange Bank is a premier community bank providing a wide range of personal, commercial and trust and investment services. Exchange Bank has 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California.  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 an 11-time winner of the North Bay Business Journal’s North Bay Best Places to Work survey and received the 2016 Healthiest Companies in the North Bay award. NorthBay biz magazine named Exchange Bank 2016 Best Business Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders.  www.exchangebank.com.

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January 23, 2017

Contact: Carolyn Cole-Schweizer, Corporate Communications & Social Media Specialist
(707) 524-1250

Exchange Bank Expands into Marin County with the Hiring of New VP Sales and Business Development Officer Alan Aranha

Santa Rosa, CA – (January 23, 2017) Exchange Bank (OTC:EXSR) welcomes Alan Aranha as their new VP Sales and Business Development officer, responsible for expanding Exchange Bank’s presence into the heart of San Rafael, offering local lending and community banking services.

Alan comes to Exchange Bank from Chase N. A. and Citibank N. A. He is a business banking consultant and strategist who specializes in commercial, SBA and relationship banking with an exceptional record of portfolio development and client loyalty. Alan believes in establishing successful and productive alliances with partners that serve the needs of businesses.

Alan is uniquely qualified to develop banking solutions that benefit and add value to local business owners. Having owned his own business and serving as the Executive Director of the Novato Chamber of Commerce (2003-2004) and the VP of the San Rafael Chamber of Commerce (1999-2003), Alan understands the challenges facing a variety of businesses and employs his commercial banking knowledge to help solve them. Alan is highly valued by his clients for his in-depth needs reviews, high standards of customer service, resourcefulness, and insight into industry trends.

Alan graduated from with a B.A. in Economics and Sociology and is a graduate of (Chamber of Commerce) Leadership San Rafael, Novato and Palo Alto. Alan is active in the community and is passionate about local business and community development.

###

About Exchange Bank

Headquartered in Sonoma County and founded in 1890 with assets of $2.2 billion, Exchange Bank is a premier community bank providing a wide range of personal, commercial and trust and investment services with 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California. 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 an 11-time winner of the North Bay Business Journal’s North Bay Best Places to Work survey and received the 2016 Healthiest Companies in the North Bay award. NorthBay biz magazine named Exchange Bank 2016 Best Business Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders.  www.exchangebank.com.

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January 23, 2017

Contact: Carolyn Cole-Schweizer, Corporate Communications & Social Media Specialist
(707) 524-1250

Exchange Bank and SRJC Join to Celebrate Dedication of Third Floor Rotunda in Frank P. Doyle Library

Santa Rosa, CA – (January 23, 2017) – Exchange Bank (OTC: EXSR) and Santa Rosa Junior College celebrated the dedication of the third floor rotunda of the Frank P. Doyle Library—named Exchange Bank Rotunda—with a private ribbon cutting ceremony and reception.

In attendance at Monday’s dedication were Exchange Bank President and CEO, Gary Hartwick, SRJC Superintendent/President Dr. Frank Chong, members of Exchange Bank Board of Directors and Trustees of the Frank P. Doyle Trust, members of the SRJC Board of Trustees and SRJC Foundation Board of Directors, as well as a gathering of Exchange Bank employees and SRJC leaders and students.

Unveiled at the ceremony were the marquee lettering dedicating the third floor rotunda of the Frank P. Doyle Library to Exchange Bank and a wall art piece titled “Bridging the Past to the Future” which highlights the connection between Exchange Bank, SRJC, Frank Doyle and the Golden Gate Bridge. Two permanent display cases were also unveiled which will feature rotating historical items from the Exchange Bank archives.

“Exchange Bank’s legacy of financial leadership and community support is at the core of our values and is an integral part of our history. Frank Doyle’s vision-turned-reality of a perpetual trust that would provide financial assistance to ‘worthy young men and women attending Santa Rosa Junior College’ established a relationship with the JC that we are very proud to be a part of” said Gary Hartwick, President and CEO. “We are honored to be recognized in this way today. Giving back to our community is an important part of Exchange Bank’s culture—a tradition that we intend to continue.”

SRJC Superintendent/President Dr. Frank Chong said, “We are proud of the longstanding relationship between Santa Rosa Junior College and Exchange Bank. We are extremely grateful for the lead gift of $100,000 to the SRJC 100th Anniversary Campaign from Exchange Bank, and for the great impact it will have on the lives of countless students and their families. We’re pleased to dedicate the third floor rotunda of the Frank P. Doyle Library on the Santa Rosa campus to Exchange Bank in honor of our relationship and in thanks for the significant contributions made by the bank throughout our shared history.”

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About SRJC

Santa Rosa Junior College (SRJC) is known for academic excellence, superb faculty and staff, comprehensive student services and beautiful facilities. This beloved community institution, turning 100 years old in 2018, enrolls approximately 26,000 students each semester. SRJC is dedicated to making higher education accessible and successful for all. Student life is vibrant, with over 50 clubs, conference-winning athletic teams, nationally ranked speech and debate teams, and outstanding theatre arts, music and dance programs. The College has campuses in Santa Rosa and Petaluma, as well as Shone Farm, Southwest Santa Rosa Center and the Public Safety Training Center. A 2015 study found that the local economic impact of SRJC totaled $1.6 billion and over 26,000 local jobs.

###

About Exchange Bank

Founded in 1890 and headquartered in Sonoma County with assets of $2.2 billion, Exchange Bank is a premier community bank providing a wide range of personal, commercial and trust and investment services. Exchange Bank has 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California. 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 an 11-time winner of the North Bay Business Journal’s North Bay Best Places to Work survey and received the 2016 Healthiest Companies in the North Bay award. NorthBay biz magazine named Exchange Bank 2016 Best Business Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders.  www.exchangebank.com.

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