HALL OF FAME BUSINESS BANK
E XCHANGE BANK
“This is what a community bank is supposed to be and do.” —Troy Sanderson, president and CEO
By Janet Perry
E xchange Bank has won the Best Business Bank category more than 15 times—earning induction alongside only a handful of businesses into our inaugural Best of the North Bay Hall of Fame class. When asked what he thought made Exchange Bank so successful, President and CEO Troy Sanderson talked about commitment. “It’s the commitment to be a community bank and a leader in our business community,” Sanderson says. “The genetics of the bank, if you will, are built upon that belief of giving back to our community.” As a prime example of giving back, Sanderson cites the bank’s mission as laid out in the Doyle Trust. The Doyle Trust, bequeathed from the estate of bank co- founder Frank Doyle in 1949, instructs the trustees to keep the bank locally controlled, owned, managed and independent. The dividends of the trust, payable to the trust, go directly to Santa Rosa Junior College for scholarships. “There have been over 140,000 students, me being one of them, who have received over $100 million in scholarship money specifically from the dividends paid by Exchange Bank over those years into the trust,” Sanderson says. “Last year was about $4.5 million.” Sanderson says they are continually looking for more ways to help the community. Exchange Bank not only contributes via the Doyle Trust but also has 68 employees on 74 different
Exchange Bank employees spend hours helping local nonprofits, this photo from 2022 shows the staff at Human Race in Santa Rosa.
we funded $383 million worth of PPP loans in this community to our customers—almost 2,900 loans in a really difficult time,” he says. “We had people working night and day. We pulled people from all kinds of different positions within the bank to try to get those funds out as quickly as possible.” Sanderson loves working at Exchange Bank and says he enjoys getting up and going to work each day. It’s really easy because of the mission of the bank and all that this bank means and does for this community. “It feels great to be inducted into the Hall of Fame,” Sanderson says. “It feels like we’re doing what it is that we’re supposed to do. This is what a community bank is supposed to be and do.” v
nonprofit boards throughout the community. Sanderson himself sits on the board of the Redwood Empire Food Bank, as well as the Santa Rosa Junior College Foundation. “It’s part of the culture of the bank. That’s just a part of what we do,” says Sanderson. In order to maintain its continued dedication to the business community, Exchange Bank employees continue to participate in programs that assist clients. “[During the pandemic]
Troy Sanderson
exchangebank.com
14 Northbaybiz
Best of the North Bay 2024
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