Home Production team SaviBank establishes loan production team in Friday Harbor,

SaviBank establishes loan production team in Friday Harbor,

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BURLINGTON, Wash., Sept. 07, 2021 (GLOBE NEWSWIRE) — Savi Financial Corporation, Inc. (OTC Pink: SVVB), SaviBank’s bank holding company, today announced that it has formed a new lending team located in Friday Harbor, servicing business and personal lending needs in San Juan County, including the San Juan, Orcas and Lopez. Leading the new loan team is Bruce Martin, Senior Vice President and Director of Loan Production.

“Our new loan team we assembled in Friday Harbor presents a fantastic opportunity for Savi to enter a business-friendly market in San Juan County. Fortunately, we have four Community Bankers with roots in the region to carry out our mission and share our commitment to value,” said Andrew Hunter, President and CEO of SaviBank. “Leading the team is Bruce Martin, Senior Vice President and Director of Loan Production. Martin, who previously served as EVP/Chief Credit Officer at Islanders Bank, is a seasoned banker and proven leader, and we are excited to have him leading this new lending team as we expand our presence in San Juan County.

Rounding out the team are Mike Taylor, vice president and head of commercial lending, Scott Sluis, vice president and head of commercial lending, and AJ Tokunaga, vice president and head of commercial and mortgage lending. The entire loan team previously worked for Islanders Bank in San Juan County and collectively brings over 27 years of banking experience in the San Juan Islands.

“Over the past few years, we have been very active in growing the business and expanding our banking presence in and around the communities we serve,” said Michal D. Cann, Chairman and President of Savi Financial. Corporation and Chairman of SaviBank. “In January, after exploring opportunities to enter the mortgage market, we brought in a team of experienced and qualified bankers to create a mortgage division. In April, we completed the purchase of the Freeland branch on Whidbey Island from Coastal Community Bank and moved from our existing Freeland branch to the new location. This new branch is better located and will help us expand our presence in Freeland and throughout Whidbey Island. All of these efforts complement our expansion efforts put in place in 2019, when we opened full-service branches in Concrete, Sedro-Woolley and Mount Vernon, moved our loan production office to a full-service branch in Anacortes and relocated our Oak Harbor branch. and our main Burlington branch. We will continue to look for ways to add new talent and expand our business franchise while supporting our customers and communities. »

About Savi Financial Corporation Inc. and SaviBank –

Savi Financial Corporation is the bank holding company that owns SaviBank. The Bank began operations on April 11, 2005 and has 9 branches in Anacortes, Burlington, Bellingham, Concrete, Mount Vernon (2), Oak Harbor, Freeland and Sedro-Woolley, Washington. The Bank provides loan and deposit services to customers who are primarily small to medium sized businesses and individuals in and around Skagit, Island and Whatcom counties. As a locally owned community bank, we believe that when everyone becomes savvy about their finances, our whole community benefits. Give us a call or stop by one of our locations and we’ll show you how to use Savi. For more information on SaviBank, visit; www.SaviBank.com.

Forward-looking statement

This release may contain “forward-looking statements” that are subject to risks and uncertainties. Readers should not place undue reliance on forward-looking statements, which reflect the opinions of management only as of the date hereof. All statements, other than statements of historical fact, regarding our financial condition, business strategy and management’s plans and objectives for future operations are forward-looking statements. When used in this report, the words “anticipate”, “believe”, “estimate”, “expect” and “intend” and words or phrases of similar meaning, with respect to SaviBank or management , are intended to help identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although we believe that management’s expectations, as reflected in the forward-looking statements, are reasonable, we do not can assure readers that these expectations will prove to be correct. Forward-looking statements are subject to various risks and uncertainties that may cause our actual results to differ materially and adversely from our expectations as set forth in the forward-looking statements. These risks and uncertainties include our ability to maintain or increase our market share or net interest margins, and to execute our go-to-market and growth strategies. In addition, actual results may be affected by our ability to compete on price and other factors with other financial institutions; customer acceptance of new products and services; the regulatory environment in which we operate; and general trends in the local, regional and national banking industry and economy, as these factors relate to the cost of our funds and the performance of our assets. In addition, there are inherent risks in the banking industry related to loan recovery and changes in interest rates. Many of these risks, as well as other risks, may have a material adverse effect on our business and operations.

Contact: Michal D. Cann
President & President
Savi Financial Corporation
(360) 707-2272