General Articles
2009 Best Business Bank: Exchange Bank
Author: Julie Fadda
May, 2009 Issue
“We’re about as locally grown and founded as a bank can be,” says Craig Van Selow, executive vice president of retail banking at Exchange Bank—which this year is celebrating its fourth win in a row as Best Business Bank in the NorthBay biz readers poll. “And although we’re the largest local bank in Sonoma County, we’re a community bank at heart. We’ve grown with the county for 119 years,” he says.
“Many businesses consider Exchange Bank to be synonymous with banking in Sonoma County. We appeal to them because they don’t want to compromise service and capabilities,” says Van Selow, noting that, with 19 branches, Exchange has the most of any bank in the county. So it seems convenience plays a factor as well. “One of the things we offer is an unusually deep community connection. It comes from being headquartered here. Our people are on the pulse of the local economy. There’s a history here.”
Speaking of the local economy, the bank is doing its best to ensure local customers get what they need during the current downturn. “There’s an old saying that a bank’s health is a direct reflection of the community it serves,” says Van Selow.
The bank has recently committed $75 million in new consumer and small business loans to help the community get moving again. “We’ve also reduced rates or fees on more than 20 different types of loans to help qualified customers get to the money they need to improve their business and quality of life.”
Exchange Bank has an extensive set of small business programs for lending, deposit management and online banking needs. It also has specialized expertise in wine, dairy, agriculture, manufacturing and retail industries. “It seems that everybody talks about community these days,” says Van Selow. “Exchange Bank was actively involved in and contributing to the community long before it was ‘fashionable.’ Supporting our local communities and businesses has been part of our culture from the beginning.”
The bank also has a reputation for local expertise and for loyal employees. “People have told me that if you walk into a branch of one of those big banks, you’ll find mostly young people who are new to the banking business,” says Van Selow. “When you walk into an Exchange Bank, you’ll also find people with a different level of experience and knowledge. We like to think it’s more of a craftsman level of service and expertise—and it seems to be an important difference to our customers.”
When asked about its multiple wins in this category, Van Selow replies, “Without question, we’re grateful and humbled by the level of support and connection we feel to the community. We’re honored to be the choice for Best Business Bank. It’s the reason we’re in business. And when people show appreciation, it’s the highest compliment. They see we’re at the top of our game. And to be continually recognized is very reassuring.”
Van Selow says he’s happy to know people appreciate that the bank has a slightly different calling than some of its competitors. “And we’re nice people, too!”
www.exchangebank.com
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