SANTA ROSA – Exchange Bank reported a profit of $2.1 million for the first quarter, up from the $10.3 million loss in the same period last year.
“We are pleased to report our fourth consecutive quarterly profit,” said President and Chief Executive Officer William Schrader. “Encouraging signs in the broad economy; the dedication, resiliency and hard work of the Exchange Bank team; and the unwavering support of our community are combining to form the foundation of a steady recovery of the bank."
Net interest revenue increased by $1.7 million or 11 percent and non interest expense declined by $2.3 million or 14 percent when compared to the same period in 2009.
Exchange Bank stock is trading at about $43 a share. The 52-week range is $29.00 - $75.00.