Exchange Bank employees during their volunteer shift at Redwood Empire Food Bank.
Exchange Bank has spent well over a century earning a legacy of taking great care of its customers and giving back to the community in a big way. The bank has not only been inducted into the Best of the North Bay 2024 Hall of Fame for repeatedly winning the Best Business Bank category, but this year it has also won the title of Best Consumer Bank and the Best Company in Sonoma County.
President and CEO Troy Sanderson spoke of the pride he has in the bank, the employees and the many ways both have been helping to build a strong community.
“It’s the commitment to be a community bank and a leader in our business community in that regard,” Sanderson says. Exchange Bank proves that commitment daily with employees who are invested in the company and its customers.
When the pandemic hit, Exchange Bank went above and beyond as it funded $383 million worth of Paycheck Protection Program loans, helping to keep the Sonoma County business community thriving during a daunting time.
Sanderson described pulling employees from their usual work all over the bank to achieve that feat, including some who worked through the night to get those funds out as quickly as possible.
The bank and its employees are just as committed to the community at large. “The genetics of the bank are built upon the belief of giving back to our community,” Sanderson says.
“It’s our mission and our culture, too, because of the Doyle Trust,” he says. The Doyle Trust, bequeathed from the estate of bank co-founder Frank Doyle in 1949, has helped over 140,000 Santa Rosa Junior College students with more than $100 million in scholarships.
Exchange Bank employees are embracing that same giving spirit. Staff members are sitting on multiple local nonprofit boards and logging numerous volunteer hours at nonprofits throughout Sonoma County. Sanderson sits on the board of the Redwood Empire Food Bank and the Santa Rosa Junior College Foundation.
Sanderson says it feels great to be honored with the Best Company in Sonoma County award and he’s proud of the effort the bank continues to put forth. “This is what a community bank is supposed to be and do,” says Sanderson.
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