MOUNT VERNON, Wash., June 02, 2023 (GLOBE NEWSWIRE) -- Savi Financial Corporation, Inc. (OTC Pink: SVVB) (the “Company”), the bank holding company for SaviBank (the “Bank”), today announced the promotion of Henry Lee to Chief Credit Officer of SaviBank, effective July 11, 2023, succeeding Todd Anderson, who will transition to SVP/Strategic Projects with plans to retire in December 2023. Lee joined the Bank in June 2021 and most recently served as SVP/Senior Credit Manager.
“We are pleased to announce the promotion of Henry Lee to Chief Credit Officer, and we welcome him to our executive team,” said Andrew Hunter, President and CEO of SaviBank. “Henry brings over 18 years of demonstrated leadership with strong knowledge in commercial banking, lending and credit. In Henry’s new role, he will oversee all aspects of the Bank’s credit management, underwriting and loan documenting for our organization.”
Lee has substantial commercial banking experience, all in Western Washington-based community banks. Prior to joining SaviBank, Lee served as SVP/Commercial Banking Officer at Heritage Bank. Prior to that, Lee held various commercial banking and credit analysis roles at Peoples Bank and Skagit Bank. Lee graduated from Western Washington University with a Bachelor of Arts in Business Administration and a concentration in Finance. Additionally, Lee is a licensed Certified Public Accountant and is a graduate of the Pacific Coast Banking School.
“We would like to thank Chief Credit Officer Todd Anderson for his dedicated service and strong contributions to SaviBank since 2006, and we wish him all the very best in his retirement,” said Michal D. Cann, Chairman and CEO of Savi Financial Corporation.
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 10 branch locations in Anacortes, Burlington, Bellingham, Concrete, Mount Vernon (2), Oak Harbor, Freeland, Sedro-Woolley, and Friday Harbor, Washington, and a Mortgage Loan Production Office in Olympia. The Bank provides loan and deposit services to customers who are predominantly small and middle-market businesses and individuals in and around Skagit, Island, Whatcom and San Juan counties. As a locally-owned community bank, we believe that when everyone becomes Savi about their finances, our entire community benefits. 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.
Michal D. Cann
Chairman & President
Savi Financial Corporation