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BEST Business Bank Company: Exchange Bank

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best_exchangebank-consumerbank

This year, Exchange Bank is a two-time Best Of winner, recognized in the annual readers’ poll as both Best Business Bank and Best Consumer Bank, a testament to its commitment to the local community and regional economy. The bank was started in 1890 by father-and-son team, Manville and Frank Doyle, who recognized the need for a new kind of bank—one that promised to be locally-owned, to serve as a philanthropic leader in the community and to act in the best interest of each client, no matter how big or small the account.

To that end, the bank has been serving the financial needs of both consumers and business owners since its inception. In its long history, Exchange Bank has had only eight presidents. From Frank Doyle serving as president until 1948, to current president and CEO, Gary Hartwick, who took over in 2014, its mission remains strong: “From generation to generation, we invest in people, business and community to build a strong future.”

Hartwick adds, “Our focus is and always will be on helping local businesses grow and thrive. Small business lending continues to be a focus for us. Our long history of leadership in the community gives our commercial bankers a solid understanding of the small business market.”

Today, Exchange Bank has 410 employees and serves customers through its 18-branch network in Sonoma County. The company is a full-service, community bank, providing a wide range of personal, commercial and trust and investment services to individuals, families, small businesses and corporations across Sonoma County, Roseville and more recently in the Sacramento area and the South Bay. They specialize in the wine, dairy, agriculture, manufacturing and retail industries.

“We feel honored and extremely proud to serve our business community and help grow our local economy,” says Hartwick. “ ‘Go Local’ is not just a saying to us—it is our way of doing business. We are a local business, competing against large corporations just like many of our customers. We appreciate our customers, who by banking with us contribute to our legacy of positively impacting our community through giving back and reinvesting in the communities we serve.”

In 2019, Exchange Bank began a conversion of their online and mobile banking platform to a new state-of-the-art digital platform to enhance its customers’ banking experience. The new digital platform delivers robust tools to consumer and business customers to support online banking, mobile banking and online account opening. In addition, they acquired two separate trust and investment operations businesses in 2019—one in the Sacramento area and one in the South Bay, and they broke ground on a new, state-of-the-art branch in Sebastopol in 2019 that plans to open in 2020.

“We live in a fast-paced and ever-changing world and helping our customers access their bank is an absolute necessity,” says Hartwick. “As the digital transformation accelerates, we must accelerate our efforts to deliver a customer experience that is not only high-tech, but high-touch as well. Therefore, in 2019 we embarked on a strategic initiative to adopt a new suite of online and mobile banking technologies to improve our customer experience in our digital delivery channel.”

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