OTCPK:EXSR

Stock Analysis Report

Exchange Bank (Santa Rosa CA)

Executive Summary

Exchange Bank (Santa Rosa, CA), together with its subsidiaries, provides commercial and retail banking services to individuals and businesses in California.


Snowflake Analysis

Flawless balance sheet and undervalued.


Similar Companies

Share Price & News

How has Exchange Bank (Santa Rosa CA)'s share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: EXSR has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-4.5%

EXSR

-1.5%

US Banks

0.06%

US Market


1 Year Return

-3.7%

EXSR

9.7%

US Banks

19.4%

US Market

Return vs Industry: EXSR underperformed the US Banks industry which returned 12.1% over the past year.

Return vs Market: EXSR underperformed the US Market which returned 20.1% over the past year.


Shareholder returns

EXSRIndustryMarket
7 Day-4.5%-1.5%0.06%
30 Day-7.6%-2.8%1.1%
90 Day-0.6%0.3%8.9%
1 Year-1.0%-3.7%12.9%9.7%21.9%19.4%
3 Year25.8%17.0%22.5%13.7%48.9%39.3%
5 Year127.8%100.1%72.4%52.8%71.9%53.1%

Price Volatility Vs. Market

How volatile is Exchange Bank (Santa Rosa CA)'s share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Exchange Bank (Santa Rosa CA) undervalued compared to its fair value and its price relative to the market?

47.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: EXSR ($164) is trading below our estimate of fair value ($303)

Significantly Below Fair Value: EXSR is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: EXSR is good value based on its PE Ratio (7.7x) compared to the Banks industry average (12.6x).

PE vs Market: EXSR is good value based on its PE Ratio (7.7x) compared to the US market (18.4x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate EXSR's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: EXSR is good value based on its PB Ratio (1x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is Exchange Bank (Santa Rosa CA) forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

2.2%

Forecasted Banks industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Exchange Bank (Santa Rosa CA) has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

  • Examine whether Exchange Bank (Santa Rosa CA) is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  • While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on the OTC Markets Website. If you are looking for more of a qualitative research into the company, you can access Exchange Bank (Santa Rosa CA)'s filings and announcements here.
  • Explore growth companies in the Banks industry.

Past Performance

How has Exchange Bank (Santa Rosa CA) performed over the past 5 years?

15.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: EXSR has a high level of non-cash earnings.

Growing Profit Margin: EXSR's current net profit margins (30.1%) are lower than last year (32.3%).


Past Earnings Growth Analysis

Earnings Trend: EXSR's earnings have grown by 15.5% per year over the past 5 years.

Accelerating Growth: EXSR's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: EXSR had negative earnings growth (-5.2%) over the past year, making it difficult to compare to the Banks industry average (12.2%).


Return on Equity

High ROE: EXSR's Return on Equity (13.5%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Exchange Bank (Santa Rosa CA)'s financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: EXSR has a low level of unsold assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if EXSR's debt is covered by short term assets.


Financial Institutions Analysis

Asset Level: EXSR's level of assets compared to its equity is low.

Allowance for Bad Loans: EXSR has a sufficient allowance for bad loans.

Low Risk Liabilities: EXSR's liabilities are made up of primarily low risk sources of funding.

Loan Level: EXSR has an acceptable proportion of non-loan assets held.

Low Risk Deposits: EXSR's loans are broadly funded by customer deposits.

Level of Bad Loans: EXSR has an appropriate level of bad loans (0.28%)


Next Steps

Dividend

What is Exchange Bank (Santa Rosa CA)'s current dividend yield, its reliability and sustainability?

2.91%

Current Dividend Yield


Dividend Yield vs Market

company2.9%marketbottom25%1.4%markettop25%3.7%industryaverage2.9%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: EXSR's dividend (2.8%) is higher than the bottom 25% of dividend payers in the US market (1.44%).

High Dividend: EXSR's dividend (2.8%) is low compared to the top 25% of dividend payers in the US market (3.69%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, EXSR has been paying a dividend for less than 10 years.

Growing Dividend: EXSR's dividend payments have increased, but the company has only paid a dividend for 5 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (20.7%), EXSR's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.8yrs

Average management tenure


CEO

Gary Hartwick 0

5.9yrs

Tenure

Gary T. Hartwick was elected to the Board of Exchange Bank (“Bank”) in 2014 when he was appointed President and Chief Executive Officer. He joined the Bank in 2009 and has served as chief credit officer an ...


Leadership Team

NamePositionTenureCompensationOwnership
Gary Hartwick
President5.9yrsno datano data
Greg Jahn
Executive VP12.1yrsno datano data
Richard Lewis
Senior VP & Chief Information Officer0yrsno datano data
Ed Gomez
Senior VP & Senior Credit Officer of Commercial Lending0yrsno datano data
Steve Herron
Senior VP & Commercial Banking Manager0yrsno datano data
Ann Hudson
Senior Vice President of Retail Banking4.6yrsno datano data
Craig Bainbridge
Senior VP and Product Innovation & Delivery Manager0yrsno datano data
John Mackey
Senior VP and MD of Investment & Fiduciary Services3yrsno datano data
Rick Mossi
Senior VP & Retail Delivery Group Manager1.8yrsno datano data
Paul Yeomans
Senior VP & Wholesale Banking Sales Manager1.8yrsno datano data

3.8yrs

Average Tenure

Experienced Management: EXSR's management team is considered experienced (3.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Gary Hartwick
President5.9yrsno datano data
Marlene Soiland
Corporate Secretary & Director23.1yrsno datano data
Daniel Libarle
Director12.1yrsno datano data
Deborah Meekins
Director1.7yrsno datano data
Bruce DeCrona
Director6.1yrsno datano data
James Ryan
Vice Chairman of the Board10.2yrsno datano data
William Schrader
Chairman of the Board5.9yrsno datano data
Richard Abbey
Director10.1yrsno datano data
Steven Dutton
Director6.1yrsno datano data

6.1yrs

Average Tenure

Experienced Board: EXSR's board of directors are considered experienced (6.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Exchange Bank (Santa Rosa, CA)'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Exchange Bank (Santa Rosa, CA)
  • Ticker: EXSR
  • Exchange: OTCPK
  • Founded: 1890
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$270.812m
  • Shares outstanding: 1.71m
  • Website: https://www.exchangebank.com

Number of Employees


Location

  • Exchange Bank (Santa Rosa, CA)
  • PO Box 403
  • Santa Rosa
  • California
  • 95402
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
EXSROTCPK (Pink Sheets LLC)YesCommon StockUSUSDJan 1975

Biography

Exchange Bank (Santa Rosa, CA), together with its subsidiaries, provides commercial and retail banking services to individuals and businesses in California. It offers personal banking products and services, including checking and savings accounts; home loans, home equity lines of credit, auto loans, unsecured personal loans, personal lines of credit, and home equity loans; and community rebuild loan programs. The company also provides business banking products and services, such as business checking and savings accounts; merchant services; business equipment leasing; and commercial real estate and construction loans, small business administration loans, and lease financing, as well as vineyard, winery, and agriculture loans. In addition, it offers credit cards; online and mobile banking services; and personal trust administration and investment management services, as well as retirement plans and individual retirement accounts. The company was founded in 1890 and is headquartered in Santa Rosa, California. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/18 23:46
End of Day Share Price2020/02/18 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.