SVVB SAVIBANK BURLINGTON WASH

SaviBank Establishes Mortgage Lending Division, Drew Wilkens to Lead the New Mortgage Lending Team

SaviBank Establishes Mortgage Lending Division, Drew Wilkens to Lead the New Mortgage Lending Team

BURLINGTON, Wash., Jan. 13, 2021 (GLOBE NEWSWIRE) -- Savi Financial Corporation, Inc. (OTC Pink: SVVB), the bank holding company for SaviBank, today announced that it has formed a Mortgage Lending Division in SaviBank and hired Drew Wilkens to lead the new mortgage banking team.

“After exploring opportunities to enter the mortgage lending market, we are excited to announce that we have brought in a team of seasoned, qualified bankers to establish a mortgage lending division,” said Michal D. Cann, Chairman of SaviBank. “Leading the team is Drew Wilkens, Senior Vice President and Mortgage Department Manager. Wilkens is a proven leader, critical thinker and strategic planner, and has over 17 years of banking and mortgage experience in the Pacific Northwest.”

Wilkens graduated from Western Washington University with a Bachelor’s Degree in Management and received his Graduate Degree in Bank Financial Management from the Graduate School of Banking at Colorado University. He is scheduled to graduate with his Master’s in Business Administration from Western Washington University later this year.  

“We continue to reach out to the communities we serve, and Drew will be playing a key role as we develop our mortgage lending division,” said Cann. “Lending policies and marketing strategies have been developed specifically for this segment. With a methodical, long-term approach, we believe we will be successful in growing a meaningful mortgage lending division for the bank.”

"I am extremely pleased to join such an exciting, growing bank,” said Drew Wilkens. “With our team of talented mortgage lending professionals, and their knowledge of the Pacific Northwest, we are confident we can produce strong results and increase the bank’s future earning power.”

About Savi Financial Corporation Inc. and SaviBank –

Savi Financial Corporation is the bank holding company of 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 will show you how to bank Savi. For additional information about SaviBank visit

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


EN
13/01/2021

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on SAVIBANK BURLINGTON WASH

 PRESS RELEASE

Harborstone Credit Union Completes Acquisition of SaviBank

Harborstone Credit Union Completes Acquisition of SaviBank LAKEWOOD, Wash. and MOUNT VERNON, Wash., Sept. 02, 2025 (GLOBE NEWSWIRE) -- Harborstone Credit Union (“Harborstone”), headquartered in Lakewood, Washington, and SaviBank, headquartered in Mount Vernon, Washington, and its parent holding company, Savi Financial Corporation, Inc. (“Savi Financial”) (OTCPK: SVVB), announced today that they have completed the purchase and assumption transaction whereby Harborstone has acquired substantially all the assets and assumed substantially all the liabilities, including all deposits, of SaviBa...

 PRESS RELEASE

Savi Financial Corporation and SaviBank Provide Update to Shareholders...

Savi Financial Corporation and SaviBank Provide Update to Shareholders Regarding Closing of Acquisition MOUNT VERNON, Wash., July 28, 2025 (GLOBE NEWSWIRE) -- Savi Financial Corporation, Inc. (OTC Pink: SVVB) (“Savi Financial” or the “Company”) and its wholly owned subsidiary, SaviBank, today announced that all parties have received final regulatory approval to complete the acquisition of SaviBank’s operating assets and the assumption of SaviBank’s deposits by Tacoma-based Harborstone Credit Union. The acquisition was announced on March 21, 2024, upon the parties’ entry into a Purchase an...

 PRESS RELEASE

Savi Financial Corporation Earns $205,000 in the Third Quarter of 2024...

Savi Financial Corporation Earns $205,000 in the Third Quarter of 2024; Results Highlighted by NIM Expansion MOUNT VERNON, Wash., Oct. 29, 2024 (GLOBE NEWSWIRE) -- Savi Financial Corporation, Inc. (OTC Pink: SVVB), the bank holding company for SaviBank, today reported net income of $205,000, or $0.05 per diluted share, for the third quarter of 2024. This compared to a net loss of $5,000, or a loss of $0.00 per diluted share, in the second quarter of 2024, and net income of $558,000, or $0.13 per diluted share, in the third quarter of 2023. In the first nine months of 2024, the Company rep...

 PRESS RELEASE

Savi Financial Corporation Reports Second Quarter 2024 Results

Savi Financial Corporation Reports Second Quarter 2024 Results MOUNT VERNON, Wash., July 30, 2024 (GLOBE NEWSWIRE) -- Savi Financial Corporation, Inc. (OTC Pink: SVVB), the bank holding company for SaviBank, today announced a net loss of $5,000, or a loss of $0.00 per diluted share, for the second quarter of 2024, compared to a net loss of $416,000, or a loss of $0.09 per diluted share, in the first quarter of 2024. In the second quarter a year ago, the Company recorded net income of $561,000, or $0.13 per diluted share. In the first six months of 2024, the Company reported a net loss of ...

 PRESS RELEASE

Savi Financial Corporation Reports Results for the First Quarter of 20...

Savi Financial Corporation Reports Results for the First Quarter of 2024 MOUNT VERNON, Wash., May 01, 2024 (GLOBE NEWSWIRE) -- Savi Financial Corporation, Inc. (OTC Pink: SVVB), the bank holding company for SaviBank, today announced a net loss of $416,000, or a loss of $0.09 per diluted share, for the first quarter of 2024. This compared to a net loss of $1.54 million, or a loss of $0.35 per diluted share in the preceding quarter, and net income of $468,000, or $0.11 per diluted share, in the first quarter of 2023. Net income for the current quarter was impacted by higher interest expense...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch