$SVVC SaviBank Establishes Loan Production Team in Friday Harbor, Washington; Bruce Martin to Lead New Lending Team
Press Release | 09/07/2021
BURLINGTON, Wash., Sept. 07, 2021 (GLOBE NEWSWIRE) -- Savi Financial Corporation, Inc. (OTC Pink: SVVB), the bank holding company for SaviBank, today announced that it has formed a new lending team located in Friday Harbor, serving the business and personal lending needs in San Juan County, including San Juan, Orcas and Lopez islands. Leading the new lending team is Bruce Martin, Senior Vice President and Loan Production Manager.
“Our new lending team that we have built out 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 area 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 Loan Production Manager. Martin, who was formerly EVP/Chief Credit Officer with Islanders Bank, is a seasoned banker and proven leader, and we are excited to have him lead this new lending team as we expand our presence in San Juan County.”
Rounding out the team is Mike Taylor, Vice President and Commercial Loan Officer, Scott Sluis, Vice President and Commercial Loan Officer, and AJ Tokunaga, Vice President and Commercial & Mortgage Loan Officer. The entire lending team was formerly with 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 with growing the company and expanding our bank 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 lending market, we brought in a team of seasoned, qualified bankers to establish a mortgage lending division. In April, we closed on the purchase of the Freeland branch on Whidbey Island from Coastal Community Bank, and relocated from our existing Freeland branch to the new location. This new branch is in a better location, and will help us expand our footprint in Freeland and throughout Whidbey Island. All of these efforts complement our expansion efforts put into place in 2019, when we opened full-service branches in Concrete, Sedro-Woolley and Mount Vernon, relocated our loan production office into 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 company franchise while supporting our customers and communities.”
About Savi Financial Corporation Inc. and SaviBank –
Savi Financial Corporation is the bank holding company which owns SaviBank. The Bank began operations April 11, 2005, and has 9 branch locations 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 predominantly small and middle-market 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. Call us or stop by one of our branches and we’ll show you how to bank Savi. For additional information about 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 management’s views only as of the date hereof. All statements, other than statements of historical fact, regarding our financial position, 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, as they relate 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 those 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 indicated in the forward-looking statements. These risks and uncertainties include our ability to maintain or expand our market share or net interest margins, and to implement our marketing and growth strategies. Further, 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 those factors relate to our cost of funds and return on assets. In addition, there are risks inherent in the banking industry relating to collectability of loans and changes in interest rates. Many of these risks, as well as other risks may have a material adverse impact on our operations and business.
Contact: Michal D. Cann
Chairman & President
Savi Financial Corporation
(360) 707-2272
