Also: Exchange Bank dedicates Reinking branch
Summit State Bank donated a record $175,000 this year to its nonprofit customers through its annual Nonprofit Donation Program — more than the previous two years combined, the bank announced.
Those donations were spread across 129 checks to Summit’s nonprofit customers, based on those customers’ annual account balances. Summit donated $101,000 through the program in 2012, and $43,000 in 2011.
Recipients include Community Childcare Council of Sonoma County, Friend’s House, Giant Steps, Healthcare Foundation of Northern Sonoma County and PEP Housing.
“The guaranteed level of support to our customers through our Nonprofit Partner Donation Program is just part of our commitment to our community,” said Tom Duryea, president and CEO, in the written announcement. “This time of year is particularly rewarding when we have the opportunity to make meaningful donations — and this year a record number — to important Sonoma County organizations.”
Exchange Bank last week celebrated the renaming of its 2416 Montgomery Dr. branch as the Reinking branch, honoring past president and board chairman, William “Bill” Reinking and his wife, Mary Louise “M.L.” Reinking.
Mr. Reinking became president and chief operating officer of Exchange Bank in 1985, part of a history with the institution that has spanned more than 50 years. He began serving as chairman following his retirement in 2003, but exited retirement to become CEO and help the bank steer its way through the worst of the recession in 2008.
Mr. Reinking then helped appoint William “Bill” Schrader as CEO. He remained chairman until the retirement of Mr. Schrader in earlier this year and now serves as chairman emeritus with Mr. Schrader as chair.
The two men are frequently cited as driving forces in the bank’s recovery.
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