Santa Rosa-based Exchange Bank boosts dividend 5 cents a share

The bank said Thursday its 55 cent quarterly dividend would be payable June 19.|
BILL SWINDELL
THE PRESS DEMOCRAT

Exchange Bank will increase its quarterly dividend by 5 cents to 55 cents a share to shareholders who have a stake of ownership as of June 5.

The Santa Rosa-based bank said Thursday the dividend will be payable June 19.

Exchange Bank President and CEO Gary Hartwick said the dividend increase reflected his board's confidence on the institution's earnings stream. Last month, it reported a 26 percent increase in profits for the first quarter compared with the same period in 2014.

The announcement is good news for some students at Santa Rosa Junior College because 51 percent of the dividend goes to the Doyle Trust, which funds the Doyle Scholarship for students at the college. The trust has awarded more than $80 million in scholarships to more than 122,000 students.

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