Exchange Bank teams stepped up for the Human Race in 2019.
Troy Sanderson, president and CEO of Exchange Bank, considers winning best consumer bank again to be a tremendous honor. “May 1 marks the 133rd anniversary for Exchange Bank, we’re essentially carrying forth the tradition of supporting local communities that was started by our founder Frank Doyle. Yes, our 31-year track record of winning this award is amazing, but we are in it for the long haul,” says Sanderson.
When asked what he thinks the main reasons are that biz readers continue to choose Exchange Bank, Sanderson says it’s all about their employees and the bank’s values. He says everyone shares the values of commitment, trust and respect and that comes through in how they serve each other, their customers and the community. With so much competition, how does Exchange Bank stand out from other consumer banks? Sanderson says that though the phrase might be overused, Exchange Bank stands out because, “We ‘walk the talk’ when it comes to knowing our customers, providing personal service and acting as responsible community citizens”—and he notes that the customers’ best interest always comes first.
One way Exchange Bank gives back to the community is through the Doyle Trust. The trust, which owns 50.44% of the shares of Exchange Bank, funds the Doyle Scholarships awarded to eligible, newly graduated, local high schoolers through the stock dividend payments it receives from the bank. As of 2022, the Frank P. Doyle and Polly O’Meara Doyle Trust has funded over $100 million in scholarships to over 140,000 students, including a young Sanderson. The Doyles believed in equitable access to education, and the bank continues to hold that belief today. Exchange Bank staff is also committed to the community. At least 60 team members serve on nonprofit boards and, bank-wide, employees volunteered nearly 4,000 hours last year. Additionally, Exchange Bank makes an impact with monetary donations that focus on four main areas: education, food insecurity, health and human services, and housing and homelessness.
This summer Exchange Bank will bring its community banking style to Marin County, with plans to open a Trust Office in San Rafael. Exchange Bank has been offering full-service trust and investment management services for 60 years in Sonoma County. With one of the largest community bank trust departments in California, they believe it will be a natural fit to be in Marin. Exchange Bank continues to be financially healthy and stable and has provided safe and reliable banking services for nearly 133 years to customers who represent the fabric of our community. “Exchange Bank is here for you, as we have been and as we will be,” says Sanderson.
