EXCHANGE BANK

Filed: 7/9/2025ACC: 0002001155-25-000003

📋 What this filing means

EXCHANGE BANK filed this quarterly 13F‑HR report disclosing 120 equity positions with a total reported market value of $126.35M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

120

Positions

$126.35M

Total AUM (reported)

1.10M

Total Shares

Allocation by class

COMMON STOCK$87.83M69.5%

MUTUAL FUNDS/EQ$17.87M14.1%

MUTUAL FUNDS/FI$12.74M10.1%

MUTUAL FUNDS /$6.68M5.3%

FOREIGN STOCK$1.22M1.0%

Portfolio Concentration

Top 3$15.52M12.3%

4–10$24.36M19.3%

11–25$31.96M25.3%

Rest$54.52M43.1%

Top 3 weight

12.3%

Top 10 weight

31.6%

Voting Authority Distribution

Total shares with voting rights: 1.10M

Sole

Full voting authority

1.04M

% of voting shares94.9%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

56.46K

% of voting shares5.1%

Investment Discretion (by position count)

Sole120

Shared0

Other0

Dominant voting typeSole · 94.9% of voting shares

Institutional Holdings120

Rows:

APPLE INC

SOLE

COMMON STOCK

Shares26.81K

TypeSH

Market value$5.50M

4.35%

Sole

23.88K

Shared

0.00

None

2.94K

ISHARES NATIONAL AMT-FREE MUNI

SOLE

MUTUAL FUNDS /

Shares51.38K

TypeSH

Market value$5.37M

4.25%

Sole

51.38K

Shared

0.00

None

0.00

MICROSOFT CORP

SOLE

COMMON STOCK

Shares9.35K

TypeSH

Market value$4.65M

3.68%

Sole

7.94K

Shared

0.00

None

1.41K

JOHNSON & JOHNSON

SOLE

COMMON STOCK

Shares25.23K

TypeSH

Market value$3.85M

3.05%

Sole

24.34K

Shared

0.00

None

897.00

VANGUARD TOTAL STOCK MARKET ETF

SOLE

MUTUAL FUNDS/EQ

Shares12.66K

TypeSH

Market value$3.85M

3.04%

Sole

12.66K

Shared

0.00

None

0.00

PROCTER & GAMBLE CO

SOLE

COMMON STOCK

Shares22.71K

TypeSH

Market value$3.62M

2.86%

Sole

22.27K

Shared

0.00

None

444.00

ISHARES CORE TOTAL US BOND

SOLE

MUTUAL FUNDS/FI

Shares34.27K

TypeSH

Market value$3.40M

2.69%

Sole

34.27K

Shared

0.00

None

0.00

CHEVRON CORP

SOLE

COMMON STOCK

Shares22.84K

TypeSH

Market value$3.27M

2.59%

Sole

22.54K

Shared

0.00

None

298.00

JP MORGAN CHASE & CO

SOLE

COMMON STOCK

Shares10.99K

TypeSH

Market value$3.19M

2.52%

Sole

10.38K

Shared

0.00

None

610.00

VANGUARD TOTAL BOND MARKET ETF

SOLE

MUTUAL FUNDS/FI

Shares43.23K

TypeSH

Market value$3.18M

2.52%

Sole

43.23K

Shared

0.00

None

0.00

WALMART INC

SOLE

COMMON STOCK

Shares31.07K

TypeSH

Market value$3.04M

2.40%

Sole

30.72K

Shared

0.00

None

352.00

CATERPILLAR INC

SOLE

COMMON STOCK

Shares7.58K

TypeSH

Market value$2.94M

2.33%

Sole

7.51K

Shared

0.00

None

63.00

EXXON MOBIL CORP

SOLE

COMMON STOCK

Shares24.99K

TypeSH

Market value$2.69M

2.13%

Sole

22.01K

Shared

0.00

None

2.99K

INTERNATIONAL BUSINESS MACHS

SOLE

COMMON STOCK

Shares7.83K

TypeSH

Market value$2.31M

1.83%

Sole

7.70K

Shared

0.00

None

125.00

UNION PACIFIC CORP

SOLE

COMMON STOCK

Shares9.64K

TypeSH

Market value$2.22M

1.75%

Sole

7.91K

Shared

0.00

None

1.72K

BERKSHIRE HATHAWAY INC

SOLE

COMMON STOCK

Shares3.00

TypeSH

Market value$2.19M

1.73%

Sole

3.00

Shared

0.00

None

0.00

COCA-COLA CO

SOLE

COMMON STOCK

Shares30.47K

TypeSH

Market value$2.16M

1.71%

Sole

29.80K

Shared

0.00

None

674.00

PHILIP MORRIS INTERNATIONAL INC

SOLE

COMMON STOCK

Shares11.32K

TypeSH

Market value$2.06M

1.63%

Sole

11.05K

Shared

0.00

None

270.00

ISHARES CORE S&P MID-CAP (MKT)

SOLE

MUTUAL FUNDS/EQ

Shares32.36K

TypeSH

Market value$2.01M

1.59%

Sole

32.36K

Shared

0.00

None

0.00

NVIDIA CORP

SOLE

COMMON STOCK

Shares12.16K

TypeSH

Market value$1.92M

1.52%

Sole

7.69K

Shared

0.00

None

4.47K

SCHWAB US BROAD MARKET ETFT

SOLE

MUTUAL FUNDS/EQ

Shares77.35K

TypeSH

Market value$1.84M

1.46%

Sole

77.35K

Shared

0.00

None

0.00

AUTOMATIC DATA PROCESSING INC

SOLE

COMMON STOCK

Shares5.81K

TypeSH

Market value$1.79M

1.42%

Sole

5.72K

Shared

0.00

None

85.00

SPDR S&P 500 ETF

SOLE

MUTUAL FUNDS/EQ

Shares2.89K

TypeSH

Market value$1.78M

1.41%

Sole

2.89K

Shared

0.00

None

0.00

ALPHABET INC

SOLE

COMMON STOCK

Shares9.03K

TypeSH

Market value$1.59M

1.26%

Sole

7.47K

Shared

0.00

None

1.56K

NORFOLK SOUTHERN CORP

SOLE

COMMON STOCK

Shares5.56K

TypeSH

Market value$1.42M

1.13%

Sole

5.50K

Shared

0.00

None

56.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
APPLE INCSOLE	COMMON STOCK	26.81K	SH	$5.50M 4.35%	23.88K	2.94K
ISHARES NATIONAL AMT-FREE MUNISOLE	MUTUAL FUNDS /	51.38K	SH	$5.37M 4.25%	51.38K	0.00
MICROSOFT CORPSOLE	COMMON STOCK	9.35K	SH	$4.65M 3.68%	7.94K	1.41K
JOHNSON & JOHNSONSOLE	COMMON STOCK	25.23K	SH	$3.85M 3.05%	24.34K	897.00
VANGUARD TOTAL STOCK MARKET ETFSOLE	MUTUAL FUNDS/EQ	12.66K	SH	$3.85M 3.04%	12.66K	0.00
PROCTER & GAMBLE COSOLE	COMMON STOCK	22.71K	SH	$3.62M 2.86%	22.27K	444.00
ISHARES CORE TOTAL US BONDSOLE	MUTUAL FUNDS/FI	34.27K	SH	$3.40M 2.69%	34.27K	0.00
CHEVRON CORPSOLE	COMMON STOCK	22.84K	SH	$3.27M 2.59%	22.54K	298.00
JP MORGAN CHASE & COSOLE	COMMON STOCK	10.99K	SH	$3.19M 2.52%	10.38K	610.00
VANGUARD TOTAL BOND MARKET ETFSOLE	MUTUAL FUNDS/FI	43.23K	SH	$3.18M 2.52%	43.23K	0.00
WALMART INCSOLE	COMMON STOCK	31.07K	SH	$3.04M 2.40%	30.72K	352.00
CATERPILLAR INCSOLE	COMMON STOCK	7.58K	SH	$2.94M 2.33%	7.51K	63.00
EXXON MOBIL CORPSOLE	COMMON STOCK	24.99K	SH	$2.69M 2.13%	22.01K	2.99K
INTERNATIONAL BUSINESS MACHSSOLE	COMMON STOCK	7.83K	SH	$2.31M 1.83%	7.70K	125.00
UNION PACIFIC CORPSOLE	COMMON STOCK	9.64K	SH	$2.22M 1.75%	7.91K	1.72K
BERKSHIRE HATHAWAY INCSOLE	COMMON STOCK	3.00	SH	$2.19M 1.73%	3.00	0.00
COCA-COLA COSOLE	COMMON STOCK	30.47K	SH	$2.16M 1.71%	29.80K	674.00
PHILIP MORRIS INTERNATIONAL INCSOLE	COMMON STOCK	11.32K	SH	$2.06M 1.63%	11.05K	270.00
ISHARES CORE S&P MID-CAP (MKT)SOLE	MUTUAL FUNDS/EQ	32.36K	SH	$2.01M 1.59%	32.36K	0.00
NVIDIA CORPSOLE	COMMON STOCK	12.16K	SH	$1.92M 1.52%	7.69K	4.47K
SCHWAB US BROAD MARKET ETFTSOLE	MUTUAL FUNDS/EQ	77.35K	SH	$1.84M 1.46%	77.35K	0.00
AUTOMATIC DATA PROCESSING INCSOLE	COMMON STOCK	5.81K	SH	$1.79M 1.42%	5.72K	85.00
SPDR S&P 500 ETFSOLE	MUTUAL FUNDS/EQ	2.89K	SH	$1.78M 1.41%	2.89K	0.00
ALPHABET INCSOLE	COMMON STOCK	9.03K	SH	$1.59M 1.26%	7.47K	1.56K
NORFOLK SOUTHERN CORPSOLE	COMMON STOCK	5.56K	SH	$1.42M 1.13%	5.50K	56.00

Page 1 of 5

…