SANTA ROSA, Calif., April 29, 2015 /PRNewswire/ -- "The 125-year anniversary of the founding of the Bank is quite a milestone," said Bill Schrader, chairman of the board of directors for Exchange Bank. "Throughout our 125‑year history, the Bank has endured and survived the great depression, numerous wars, and most recently, the economic downfall of 2008. Along the way, this Bank has truly been influential in developing this special community with its steady contribution of its time, talent and treasury. More than anything, it is a true testament to the great men and women who have been a part of this organization before us and those with us today. I believe we are proudly upholding the same core values our founders, Manville and Frank Doyle, instilled in us 125 years ago. That is, keeping this Bank independent, a leader of positive economic change, and a passionate provider of support to our neighbors, and local organizations in need."Exchange Bank was founded 125 years ago in Santa Rosa, California. The legacy began with its founder, Manville Doyle and his son, Frank Doyle. Manville served as president until his death in 1916, upon which Frank Doyle took over the presidency until his death in 1948. Frank Doyle, a true visionary, was instrumental in procuring financing and support for the building of the Golden Gate Bridge. Known as the "Father of the Golden Bridge", Frank Doyle was honored for his efforts by being the first person to cross the span, upon its opening in 1937, in a private vehicle.
Frank and his wife Polly Doyle placed their shares of Exchange Bank common stock, a controlling interest of 50.4%, into a perpetual trust and the dividends fund the Frank P. Doyle and Polly O'Meara Doyle Scholarship fund for assistance to worthy young men and women attending Santa Rosa Junior College. The Doyle Trust has proven to be one of the most remarkable planned gifts in the history of American community colleges and has provided over 120,000 SRJC students with scholarships totaling $80 million dollars.
Exchange Bank is a full-service financial institution offering the same sophisticated range of products and services found in large financial institutions, including a comprehensive trust and investment services division. Since its founding in 1890, the Bank has grown from a single branch into an institution with over $1.8 billion in assets, 18 offices across Sonoma County, and commercial lending offices in Roseville, Lafayette and San Jose, CA.
"The success of Exchange Bank is rooted in our community. As we celebrate and reflect on the past 125 years, our legacy and commitment to the community resides in assisting our customers with their financial needs - whether financing a new home, planning for the future, or helping local businesses and organizations. As community bankers, we will continue this mission by offering comprehensive financial services to individuals and businesses.
"Our legacy of a strong commitment to the community continues to be an important part of our business philosophy. We do this with an emphasis on making this a better place to live and work," said Gary Hartwick, President and Chief Executive Officer.
"We want to celebrate this milestone with all our customers and the communities we serve. In celebration of the anniversary, Exchange Bank customers are invited to stop by any Exchange Bank branch for anniversary cake on May 1st."
Exchange Bank's employees strive every day to fulfill the Bank's motto, "Invested in you".
SOURCE Exchange Bank