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

SaviBank establishes loan production team in Friday Harbor,


BURLINGTON, Washington, September 7, 2021 (GLOBE NEWSWIRE) – Savi Financial Corporation, Inc. (OTC Pink: SVVB), SaviBank’s banking holding company, today announced that it has formed a new loan team located in Friday Harbor, serving the lending needs of businesses and individuals in San Juan County, including the San Islands Juan, Orcas and Lopez. Bruce Martin, Senior Vice President and Director of Loan Production, leads the new loan team.

“Our new loan team that we have assembled in Friday Harbor presents a fantastic opportunity for Savi to enter a favorable business 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 was previously EVP / Chief Credit Officer at Islanders Bank, is a seasoned banker and proven leader, and we are delighted that he is leading this new lending team as we expand our presence in San Juan County.

The team is complemented by 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 Loans. The entire loan team was previously at 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, President and President of Savi Financial Corporation and President of SaviBank. “In January, after exploring opportunities to enter the mortgage market, we brought in a team of experienced and qualified bankers to establish a mortgage division. In April, we completed the purchase of the Freeland branch on Whidbey Island from the Coastal Community Bank and moved 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 clients 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 Savi about their finances, our entire community benefits. Give us a call or drop by one of our branches and we’ll show you how to bank with Savi. For more information on SaviBank, visit; www.SaviBank.com.

Forward-looking statement

This press release may contain “forward-looking statements” which are subject to risks and uncertainties. Readers should not place undue reliance on forward-looking statements, which represent the views 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 expressions with similar meanings, in relation 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 forward-looking statements are reasonable, we cannot 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 out 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 marketing and growth strategies. In addition, actual results may be affected by our ability to compete on pricing 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 return on assets. In addition, there are inherent risks in the banking industry related to loan collectability and changes in interest rates. Many of these and other risks can have a material adverse effect on our business and operations.

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


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