Santa Rosa-based Exchange Bank has announced it has signed an agreement to purchase the trust department of First Northern Bank, based in the Solano County community of Dixon, about 25 west of Sacramento.
“We are very happy to welcome First Northern Bank’s well-respected officers to our team of experienced professionals. We believe the expansion of our Trust & Investment Department will provide significant value to our shareholders, clients and employees,” Gary Hartwick, president and CEO of Exchange Bank, said in a statement Tuesday. “First Northern Bank’s shared values and highly respected team is a natural fit which increases our wealth management capabilities and ability to serve the families and businesses of the Sacramento area.”
Under the transaction, offered positions at Exchange Bank’s Roseville office in Placer County were First Northern Bank Senior Vice President and Trust Manager Chris Ann Bachtel; Vice President and Senior Trust Officer Alysa Corell; and Trust Operations Administrator Kelly Lind.
With assets of $2.6 billion, Exchange Bank provides personal, commercial and trust and investment services and has 18 branches in Sonoma County plus commercial and SBA lending offices in Roseville and Marin County.
Started in 1910, First Northern serves Solano, Yolo, Sacramento, Placer and Contra Costa counties plus the west slope of El Dorado County from 10 branches in Dixon, Davis, West Sacramento, Fairfield, Vacaville, Winters, Woodland, Sacramento, Roseville and Auburn.
Exchange Bank’s acquisition needs approval by the California Department of Business Oversight.