Gary Hartwick, president and CEO of Exchange Bank, will retire on Dec. 31, 2020. The company’s board named Troy Sanderson, currently the executive vice president and chief banking officer of Exchange Bank, Hartwick’s successor as president and CEO. Sanderson will assume the role on Jan. 1, 2021.
“It has been an honor to serve this remarkable organization. Having been only the eighth president in our history is something I will always hold in the highest esteem,” Hartwick said. “Exchange Bank is a fabulous company with dedicated employees who are committed to our mission and to serving our customers and our community. I am proud of the achievements we have accomplished together during my tenure. A very special thank you to all of our employees.”
Hartwick joined Exchange Bank in January of 2009 and served as the chief credit officer and chief operating officer before assuming the role of president and CEO in March of 2014. He has served on the bank’s board of directors since 2014 and will remain on the board and continue to be active in Sonoma County, CA.
“On behalf of the board of directors at Exchange Bank, I would like to offer my sincere thanks to Gary for his years of service,” Bill Schrader, chairman of the board of Exchange Bank, said. “He has faced and successfully battled through a set of unprecedented challenges beginning with the collapse of the real estate market in 2008, followed by the heartbreak and widespread impact from two major wildfires and today’s virus pandemic. Through it all, with determination and professionalism, his steady leadership has been enormously influential in restoring our bank’s performance back to the very elite, upper-quartile of community banks across the country. His wisdom and experience will be a positive influence and valuable resource to Troy Sanderson, our next president and chief executive officer.”
Sanderson has been in banking since 1989. He joined Exchange Bank in October 2018.
“I am excited for Troy and his promotion is certainly well deserved,” Hartwick said. “Troy is an experienced community banker and is the right fit for Exchange Bank and the community values that we hold.”
“Exchange Bank has been a cornerstone of this community for 130 years,” Sanderson said. “I am honored to have the opportunity to lead this important local institution going forward, continuing our legacy of investing in people, business and community to build a strong future.”
Headquartered in Sonoma County, CA, and founded in 1890, Exchange Bank is a community bank with assets of $2.8 billion. Exchange Bank provides personal, commercial and trust and investment services with 18 branches in Sonoma County, CA, and a commercial branch in Roseville, CA.