Exchange Bank Declares Increase to Quarterly Cash Dividend
SANTA ROSA, Calif.--(BUSINESS WIRE)--Nov 16, 2018--On November 14, 2018, the Exchange Bank (OTC: EXSR) Board of Directors declared a quarterly cash dividend of $1.00 per share on common stock outstanding to shareholders of record at the close of business on November 30, 2018. The dividend is payable December 14, 2018. The cash dividend which represents an increase of $.05 over the prior quarter’s dividend at $.95 per share, is a reflection of the Bank’s strong earnings growth this year. The dividend has increased from $.90 per share during the similar quarter ending December 31, 2017, an increase of 11%.
50.44% of the Bank’s cash dividend goes to the Doyle Trust which funds the Doyle Scholarships at the Santa Rosa Junior College.
Forward looking information
This press release may contain forward-looking statements about the Company, including descriptions of plans or objectives of its management for future operations, products or services, and forecasts of its revenues, earnings or other measures of economic performance. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.”
Forward-looking statements, by their nature, are subject to risks and uncertainties. A number of factors — many of which are beyond the Company’s control — could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. Forward-looking statements speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date forward looking statements are made.
About Exchange Bank
Headquartered in Sonoma County and founded in 1890, Exchange Bank is a premier community bank with assets of $2.6 billion. Exchange Bank provides a wide range of personal, commercial and trust and investment services with 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California. The Bank’s legacy of financial leadership and community support is grounded in its core values of Commitment, Respect, Integrity and Teamwork.
Exchange Bank is a 13-time winner of the North Bay Business Journal’s Best Places to Work survey, a recipient of the 2018 North Bay Community Philanthropy Award and the 2017 Healthiest Companies in the North Bay Award. NorthBay biz magazine named Exchange Bank the 2018 Best Consumer Bank and Gold Medal Winner for Best Business Bank. The North Bay Bohemian’s “Best of 2018” Readers Poll named Exchange Bank the Best Business Bank and Best Consumer Bank. Exchange Bank can also be found in the North Bay Business Journal’s listing of leading SBA 7(a) Lenders, Wealth Management Advisors and Wine Industry Lenders. www.exchangebank.com.
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CONTACT: Greg Jahn
EVP, Chief Financial Officer
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: Exchange Bank
Copyright Business Wire 2018.
PUB: 11/16/2018 04:29 PM/DISC: 11/16/2018 04:28 PM