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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

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

January 13, 2021 GMT

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.”

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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 www.SaviBank.com

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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