On August 24, Exchange Bank reported a quarterly cash dividend of 85 cents per share on common stock outstanding to shareholders of record at the close of business on Sept.1, 2017. The dividend is payable Sept.15. The cash dividend, unchanged from the prior quarter at 85 cents per share, increased from 70 cents per share during the similar quarter of 2016, up nearly 21 percent.
The Santa Rosa-based institution, whose stock trades over the counter under the ticker EXSR, had $6.5 million in after-tax profit for the quarter ended June 30, and $13.1 million in profit for the first half of the year.
“We had an excellent quarter,” said Gary Hartwick, CEO and president of Exchange Bank.
On Aug.18 Exchange Bank held an event to celebrate its new Petaluma East branch at 453 N. McDowell Blvd., Suite 30. The new branch opened its doors in June. It replaced a branch previously located at 701 Sonoma Mountain Parkway in Petaluma.
Exchange Bank, founded in 1890, has $2.2 billion in assets and 18 branches throughout Sonoma County. With philanthropy at its heart, the bank pays 50.44 percent of its cash dividend to the Doyle Trust that funds Doyle Scholarships at Santa Rosa Junior College.
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