Exchange Bank raised its cash dividend to 85 cents per share of common stock held by Nov. 30, a 5 cent increase from the previous quarter.

The dividend will be paid out Dec. 14. The Santa Rosa-based bank has increased its cash dividend by 20 percent over the past year, following positive financial results.

The Frank P. Doyle and Polly O’Meara Doyle Trust owns slightly more than 50 percent of the bank’s stock. The trust funds the Doyle Scholarships at Santa Rosa Junior College, which provides awards to incoming full-time freshmen with at least a 2.75 grade-point average.