Exchange Bank Announces the Acquisition of American Trust and Savings Bank’s California Trust and Wealth Management Business

Exchange Bank (OTC: EXSR) today announced the signing of a purchase and sale agreement to acquire the American Trust and Savings Bank’s California Trust and Wealth Management business. The purchase is subject to regulatory approval by the California Department of Business Oversight.

Joining Exchange Bank from American Trust and Savings Bank are Senior Trust Officer Cathleen Colgan and Trust Administrative Assistant Jill Solle. Both will continue to work from their San Mateo office where they will focus on the development of new client relationships within the advisory community.

“We believe the geographic expansion of our Trust & Investment Management department into the South Bay is a natural extension of our long-standing trust business," said Gary Hartwick, president and CEO of Exchange Bank. “We are pleased to welcome Cathleen and Jill to the Exchange Bank family.”

About Exchange Bank

Headquartered in Sonoma County and founded in 1890, Exchange Bank is a premier community bank with assets of $2.6 billion. Exchange Bank provides a wide range of personal, commercial and trust and investment services with 18 branches in Sonoma County and a commercial and SBA lending office in Roseville and Marin, California. The Bank’s legacy of financial leadership and community support is grounded in its core values of Commitment, Respect, Integrity and Teamwork.

Exchange Bank is a 13-time winner of the North Bay Business Journal’s (NBBJ) Best Places to Work survey, a recipient of the 2018 North Bay Community Philanthropy Award and the 2018 Healthiest Companies in the North Bay Award. NorthBay biz magazine named Exchange Bank the 2018 Best Consumer Bank and Gold Medal Winner for Best Business Bank. The North Bay Bohemian’s Best of 2018 Readers Poll named Exchange Bank the Best Business Bank and Best Consumer Bank. Exchange Bank can also be found in the NBBJ’s Book of Lists as a leading lender and wealth management advisor—claiming the #1 position in SBA 7(a) lending in Sonoma County for 2018. www.exchangebank.com.

Member FDIC — Equal Housing Lender — Equal Opportunity Employer

View source version on businesswire.com: https://www.businesswire.com/news/home/20190217005029/en/