One of the most unique banks in the United States
The last will and testament of Exchange Bank’s co–founder and second president, Frank Doyle, stands tall above his many accomplishments. Doyle wanted the Bank to be a locally owned and managed institution. So rather than giving his stock to his heirs, his controlling interest (50.39% of the common stock) was put into a perpetual trust. The dividends are specified for distribution by the Trustees to the Frank P. Doyle and Polly O’Meara Doyle Scholarship Fund for assistance to “worthy young men and women attending Santa Rosa Junior College.”
The Doyle Trust has proven to be one of the most remarkable planned gifts in the history of American community college education. More than $76 million to over 115,000 students since 1948.