Exchange Bank (Santa Rosa) ( (EXSR) ) has released its Q3 earnings. Here is a breakdown of the information Exchange Bank (Santa Rosa) presented to its investors.
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Exchange Bank, headquartered in Sonoma County and established in 1890, is a community bank offering a comprehensive range of personal, commercial, and investment management services across California. Known for its customer-centric approach, Exchange Bank operates 17 retail branches and maintains a strong commitment to community support.
Exchange Bank reported its third-quarter 2024 earnings, revealing a net income of $4.9 million, maintaining stability from the first quarter but showing a slight decrease from the second quarter. The bank’s liquidity remains robust, with significant on-balance-sheet resources and borrowing capacity.
The key financial highlights include a consistent loan balance with a year-over-year increase of $11.5 million and a strong loan quality, with nonaccrual loans at a minimal 0.37% of gross loans. Despite a decrease in net interest income by 7.41% from the previous year, the bank reported a year-to-date net income increase of $1.6 million. Exchange Bank’s capital ratios are well above regulatory requirements, maintaining a solid financial footing.
Looking forward, Exchange Bank remains committed to maintaining strong core deposit relationships amidst competitive market conditions. The bank’s management continues to focus on leveraging its liquidity strength and maintaining robust capital ratios to support future growth and stability.