Exchange Bank (EXSR) 84.2500 $EXSR
Exchange Bank Announces Second Quarter Earnings
PR Newswire - Fri Jul 22, 3:08PM CDT
Today, Exchange Bank (OTC:EXSR) announced results for the second quarter of 2016 with a profit after tax of $5.46 million, compared to $5.63 million in the second quarter of 2015. This represents a decrease of $173 thousand or a 3% decline compared to the same period a year ago. "The decline in earnings for the second quarter does not tell the true story of strength in core earnings. Absent a decline in non-recurring income in the form of reversal of provision for loan loss, which fell from $2.5 million in the second quarter of 2015 to a recovery of $400 thousand during the second quarter of 2016, core earnings would have demonstrated continued improvement," stated Gary Hartwick, President and CEO. As a result of the significant improvement in our credit quality and the recovery of loans previously charged off, $2.5 million in provision for loan losses was reversed during the second quarter of 2015 compared to a recovery of loans previously charged off of just $400 thousand during the second quarter of 2016. The Bank's level of reserves to support future loan losses remains robust in comparison to industry standards and is supported by the Bank's strong asset quality.
Exchange Bank Announces First Quarter Earnings
PR Newswire - Thu Apr 21, 4:22PM CDT
Today Exchange Bank (OTC: EXSR) announced results for the first quarter of 2016 with a profit after tax of $5.21 million, compared to $5.13 million in the first quarter of 2015. This represents an increase of $77 thousand or 1.5% over the same period a year ago.
Exchange Bank reports 12.5% increased net income for Q4 2015 year over year
M2 - Mon Feb 01, 3:54AM CST
Exchange Bank (OTC:EXSR) on Friday reported for the fourth quarter of 2015 a net income of USD5.1m or USD2.99 basic/diluted earnings per common share, up 12.5% compared to the net income of USD4.6m or USD2.65 basic/diluted earnings per common share in the same period in 2014.
Exchange Bank Announces Fourth Quarter and Year Ending 2015 Earnings
PR Newswire - Fri Jan 29, 3:09PM CST
Exchange Bank (OTC: EXSR) reported net income of $5.1 million in the fourth quarter of 2015, compared to $4.6 million for the same period in 2014, an increase of 12.5%. Net income for the year ending December 31, 2015, totaled $21.0 million, compared to $17.7 million a year ago, an increase of 18.6%. "2015 proved to be another year of significant improvement in the financial results and overall condition of the Bank," stated Gary Hartwick, President and CEO.
Exchange Bank Declares $0.60 Quarterly Cash Dividend
PR Newswire - Thu Nov 19, 2:56PM CST
On November 17, 2015, Exchange Bank (OTC:EXSR) declared a quarterly cash dividend of $0.60 per share on common stock outstanding to shareholders of record at the close of business on November 27, 2015. The dividend is payable December 11, 2015. The cash dividend of $0.60 per share represents an increase of $.05 over the previous quarterly dividend paid on September 18, 2015. However, over the past year the dividend has increased by 33%, rising from $0.45 per share per quarter in December of 2014 to the current dividend rate of $0.60 per share per quarter.
Exchange Bank Announces Third Quarter Earnings
PR Newswire - Thu Oct 22, 4:52PM CDT
Today Exchange Bank (OTC:EXSR) announced results for the third quarter of 2015 with a net profit after tax of $5.14 million, compared to $4.56 million in the third quarter of 2014. This represents an increase of $582 thousand or 13% over the same period a year ago. "The 2015 third quarter earnings for the most part reflect core earnings - that is earnings that are materially free of non--recurring events. Core earnings represent the expansion of the Bank's net interest income as well as a focus on controlling operating expenses," said Greg Jahn, Executive Vice President and CFO. The Bank's earnings are tied to the continued economic expansion of the communities in which we serve. The growth in net interest income is a result of loan growth of approximately $73 million over the similar period in 2014 funded by deposit growth, which is up approximately $180 million or 11% over the previous 12-months. "Growth in deposits is an indication of the confidence our customers have in Exchange Bank and we remain grateful for the support of our community," stated Gary Hartwick, President and CEO.
Sequoia Pacific Team To Join Forces With Exchange Bank
PR Newswire - Mon Sep 14, 12:29PM CDT
Exchange Bank (OTC: EXSR) is pleased to announce that Dennis Harter, President and Founder of Sequoia Pacific Mortgage Company, Inc. and his team of mortgage professionals will join Exchange Bank's Residential Mortgage group effective October 5, 2015. Mr. Harter will assume the role of VP-Residential Mortgage Manager overseeing Sales, Processing and Operations for the existing Exchange Bank Residential Mortgage department. As noted by Gary Hartwick, President and CEO, Exchange Bank, "We feel very fortunate to have Dennis join Exchange Bank. This is a wonderful opportunity for Exchange Bank to welcome Dennis and his staff to our team of professionals. Dennis is an individual of exceptional professionalism within the Sonoma County mortgage industry in addition to all of the contributions he has made to the community at large. We are looking forward to adding his expertise and solid reputation to our growing mortgage business."
Exchange Bank Announces New Executive
PR Newswire - Thu Jul 30, 6:58PM CDT
Exchange Bank (OTC:EXSR), a community Bank since 1890, has named Ann Hudson to head its Retail Banking Group. Hudson was promoted to Senior Vice President and is the newest addition to the executive team.
Exchange Bank reports 24% increase in net income for Q2 2015 year over year
M2 - Thu Jul 23, 3:43AM CDT
Exchange Bank (OTC:EXSR) reported on Wednesday that it recorded net income of USD5.63m or USD3.29 basic/diluted earnings per common share for the second quarter of 2015, an increase of USD1.09m or 24% compared to the net income of USD4.54m or USD2.65 basic/diluted earnings per common share in the second quarter of 2014.
Exchange Bank Celebrates 125th Anniversary of the Bank's Founding
PR Newswire - Wed Apr 29, 5:45PM CDT
"The 125-year anniversary of the founding of the Bank is quite a milestone," said Bill Schrader, chairman of the board of directors for Exchange Bank. "Throughout our 125--year history, the Bank has endured and survived the great depression, numerous wars, and most recently, the economic downfall of 2008. Along the way, this Bank has truly been influential in developing this special community with its steady contribution of its time, talent and treasury. More than anything, it is a true testament to the great men and women who have been a part of this organization before us and those with us today. I believe we are proudly upholding the same core values our founders, Manville and Frank Doyle, instilled in us 125 years ago. That is, keeping this Bank independent, a leader of positive economic change, and a passionate provider of support to our neighbors, and local organizations in need."
Exchange Bank Announces Second Quarter Earnings
PR Newswire - Fri Jul 22, 3:08PM CDT
Today, Exchange Bank (OTC:EXSR) announced results for the second quarter of 2016 with a profit after tax of $5.46 million, compared to $5.63 million in the second quarter of 2015. This represents a decrease of $173 thousand or a 3% decline compared to the same period a year ago. "The decline in earnings for the second quarter does not tell the true story of strength in core earnings. Absent a decline in non-recurring income in the form of reversal of provision for loan loss, which fell from $2.5 million in the second quarter of 2015 to a recovery of $400 thousand during the second quarter of 2016, core earnings would have demonstrated continued improvement," stated Gary Hartwick, President and CEO. As a result of the significant improvement in our credit quality and the recovery of loans previously charged off, $2.5 million in provision for loan losses was reversed during the second quarter of 2015 compared to a recovery of loans previously charged off of just $400 thousand during the second quarter of 2016. The Bank's level of reserves to support future loan losses remains robust in comparison to industry standards and is supported by the Bank's strong asset quality.
Exchange Bank Announces First Quarter Earnings
PR Newswire - Thu Apr 21, 4:22PM CDT
Today Exchange Bank (OTC: EXSR) announced results for the first quarter of 2016 with a profit after tax of $5.21 million, compared to $5.13 million in the first quarter of 2015. This represents an increase of $77 thousand or 1.5% over the same period a year ago.
Exchange Bank reports 12.5% increased net income for Q4 2015 year over year
M2 - Mon Feb 01, 3:54AM CST
Exchange Bank (OTC:EXSR) on Friday reported for the fourth quarter of 2015 a net income of USD5.1m or USD2.99 basic/diluted earnings per common share, up 12.5% compared to the net income of USD4.6m or USD2.65 basic/diluted earnings per common share in the same period in 2014.
Exchange Bank Announces Fourth Quarter and Year Ending 2015 Earnings
PR Newswire - Fri Jan 29, 3:09PM CST
Exchange Bank (OTC: EXSR) reported net income of $5.1 million in the fourth quarter of 2015, compared to $4.6 million for the same period in 2014, an increase of 12.5%. Net income for the year ending December 31, 2015, totaled $21.0 million, compared to $17.7 million a year ago, an increase of 18.6%. "2015 proved to be another year of significant improvement in the financial results and overall condition of the Bank," stated Gary Hartwick, President and CEO.
Exchange Bank Declares $0.60 Quarterly Cash Dividend
PR Newswire - Thu Nov 19, 2:56PM CST
On November 17, 2015, Exchange Bank (OTC:EXSR) declared a quarterly cash dividend of $0.60 per share on common stock outstanding to shareholders of record at the close of business on November 27, 2015. The dividend is payable December 11, 2015. The cash dividend of $0.60 per share represents an increase of $.05 over the previous quarterly dividend paid on September 18, 2015. However, over the past year the dividend has increased by 33%, rising from $0.45 per share per quarter in December of 2014 to the current dividend rate of $0.60 per share per quarter.
Exchange Bank Announces Third Quarter Earnings
PR Newswire - Thu Oct 22, 4:52PM CDT
Today Exchange Bank (OTC:EXSR) announced results for the third quarter of 2015 with a net profit after tax of $5.14 million, compared to $4.56 million in the third quarter of 2014. This represents an increase of $582 thousand or 13% over the same period a year ago. "The 2015 third quarter earnings for the most part reflect core earnings - that is earnings that are materially free of non--recurring events. Core earnings represent the expansion of the Bank's net interest income as well as a focus on controlling operating expenses," said Greg Jahn, Executive Vice President and CFO. The Bank's earnings are tied to the continued economic expansion of the communities in which we serve. The growth in net interest income is a result of loan growth of approximately $73 million over the similar period in 2014 funded by deposit growth, which is up approximately $180 million or 11% over the previous 12-months. "Growth in deposits is an indication of the confidence our customers have in Exchange Bank and we remain grateful for the support of our community," stated Gary Hartwick, President and CEO.
Sequoia Pacific Team To Join Forces With Exchange Bank
PR Newswire - Mon Sep 14, 12:29PM CDT
Exchange Bank (OTC: EXSR) is pleased to announce that Dennis Harter, President and Founder of Sequoia Pacific Mortgage Company, Inc. and his team of mortgage professionals will join Exchange Bank's Residential Mortgage group effective October 5, 2015. Mr. Harter will assume the role of VP-Residential Mortgage Manager overseeing Sales, Processing and Operations for the existing Exchange Bank Residential Mortgage department. As noted by Gary Hartwick, President and CEO, Exchange Bank, "We feel very fortunate to have Dennis join Exchange Bank. This is a wonderful opportunity for Exchange Bank to welcome Dennis and his staff to our team of professionals. Dennis is an individual of exceptional professionalism within the Sonoma County mortgage industry in addition to all of the contributions he has made to the community at large. We are looking forward to adding his expertise and solid reputation to our growing mortgage business."
Exchange Bank Announces New Executive
PR Newswire - Thu Jul 30, 6:58PM CDT
Exchange Bank (OTC:EXSR), a community Bank since 1890, has named Ann Hudson to head its Retail Banking Group. Hudson was promoted to Senior Vice President and is the newest addition to the executive team.
Exchange Bank reports 24% increase in net income for Q2 2015 year over year
M2 - Thu Jul 23, 3:43AM CDT
Exchange Bank (OTC:EXSR) reported on Wednesday that it recorded net income of USD5.63m or USD3.29 basic/diluted earnings per common share for the second quarter of 2015, an increase of USD1.09m or 24% compared to the net income of USD4.54m or USD2.65 basic/diluted earnings per common share in the second quarter of 2014.
Exchange Bank Celebrates 125th Anniversary of the Bank's Founding
PR Newswire - Wed Apr 29, 5:45PM CDT
"The 125-year anniversary of the founding of the Bank is quite a milestone," said Bill Schrader, chairman of the board of directors for Exchange Bank. "Throughout our 125--year history, the Bank has endured and survived the great depression, numerous wars, and most recently, the economic downfall of 2008. Along the way, this Bank has truly been influential in developing this special community with its steady contribution of its time, talent and treasury. More than anything, it is a true testament to the great men and women who have been a part of this organization before us and those with us today. I believe we are proudly upholding the same core values our founders, Manville and Frank Doyle, instilled in us 125 years ago. That is, keeping this Bank independent, a leader of positive economic change, and a passionate provider of support to our neighbors, and local organizations in need."
