お知らせ • Sep 03
Harborstone Credit Union completed the acquisition of SaviBank from Savi Financial Corporation, Inc. (OTCPK:SVVB) for $77.6 million. Harborstone Credit Union signed a definitive merger agreement to acquire SaviBank from Savi Financial Corporation, Inc. (OTCPK:SVVB) on March 21, 2024. The all-cash transaction has been unanimously approved by the boards of directors of both institutions. SaviBank will pay $3.15 million if the transaction is terminated. The transaction is subject to receiving all regulatory approvals, approval by the stockholders of Savi Financial, and other customary closing conditions. The transaction is anticipated to be completed in the fourth quarter of 2024. The transaction is anticipated to be completed in the first quarter of 2025.
As of July 23, 2025, SaviBank will temporarily operate as Savi, Powered by Harborstone Credit Union. The transaction received final approval from both the NCUA and FDIC. The conversion from SaviBank to Harborstone Credit Union will begin on September 1, 2025. As July 28, 2025, the parties received final regulatory approval to complete the acquisition.
McQueen Financial Advisors acted as financial advisor Luse Gorman, P.C acted as legal advisor to Harborstone Credit Union. Panoramic Capital Advisors, Inc. acted as financial advisor to SaviBank. Buchalter, A Professional Corporation acted as legal advisor to SaviBank. Hillworth Securities, LLC, Investment Banking as fairness opinion provider to SaviBank.
Harborstone Credit Union completed the acquisition of SaviBank from Savi Financial Corporation, Inc. (OTCPK:SVVB) for $77.6 million on September 2, 2025. Panoramic Capital Advisors, Inc. served as financial advisor, Buchalter, A Professional Corporation served as legal advisor and Hillworth Securities, LLC served as fairness opinion provider to SaviBank and Savi Financial Corporation. お知らせ • Aug 01
Savi Financial Corporation, Inc. Reports Net Charge-Offs for the Second Quarter Ended June 30, 2024 Savi Financial Corporation, Inc. reported net charge-offs for the second quarter ended June 30, 2024. Net charge-offs were $35,000 in the second quarter of 2024, compared to $173,000 in the first quarter of 2024, and $107,000 in the second quarter a year ago. お知らせ • Mar 22
Harborstone Credit Union signed a definitive merger agreement acquire SaviBank from Savi Financial Corporation, Inc. (OTCPK:SVVB). Harborstone Credit Union signed a definitive merger agreement to acquire SaviBank from Savi Financial Corporation, Inc. (OTCPK:SVVB) on March 22, 2024. The all-cash transaction has been unanimously approved by the boards of directors of both institutions. The transaction is anticipated to be completed in the fourth quarter of 2024 subject to receiving all regulatory approvals, approval by the stockholders of Savi Financial, and other customary closing conditions. McQueen Financial Advisors acted as financial advisor Luse Gorman, P.C acted as legal advisor to Harborstone Credit Union. Panoramic Capital Advisors, Inc. acted as financial advisor to SaviBank. Buchalter, A Professional Corporation acted as legal advisor to SaviBank. Hillworth Securities, LLC, Investment Banking as fairness opinion provider to SaviBank. お知らせ • Jan 30
Savi Financial Corporation, Inc. Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2023 Savi Financial Corporation, Inc. reported net charge-offs for the fourth quarter ended December 31, 2023. Net charge-offs were $128,000 in the fourth quarter of 2023, compared to $77,000 in the third quarter of 2023, and let loan recoveries of $39,000 in the fourth quarter a year ago. お知らせ • Nov 01
Savi Financial Corporation, Inc. Announces Net Charge-Offs for the Third Quarter Ended September 30, 2023 Savi Financial Corporation, Inc. announced Net charge-offs for the third quarter ended September 30, 2023. For the quarter, the company's Net charge-offs were $77,000 in the third quarter of 2023, compared to $107,000 in the second quarter of 2023, and $190,000 in the third quarter a year ago. お知らせ • Aug 25
Savi Financial Corporation, Inc. (OTCPK:SVVB) agreed to acquire Orca Bank. Savi Financial Corporation, Inc. (OTCPK:SVVB) agreed to acquire Orca Bank on August 24, 2023. As part of the transaction Michal D. Cann will be Chairman and CEO of Orca Bank and Drew Wilkens will be President of Orca Bank. Transaction is subject to regulatory approval and is expected to close in the first quarter of 2024. お知らせ • Oct 29
Savi Financial Corporation, Inc. Announces Net Charge-Offs for the Quarter Ended September 30, 2022 Savi Financial Corporation, Inc. announced Net charge-offs for the quarter ended September 30, 2022. for the quarter, the company's Net charge-offs were $190,000 in the third quarter of 2022, compared to net recoveries of $18,000 in the third quarter of 2021. お知らせ • Aug 02
Savi Financial Corporation, Inc. Announces Net Charge-Offs for the Second Quarter Ended June 30, 2022 Savi Financial Corporation, Inc. announced Net charge-offs for the second quarter ended June 30, 2022. for the quarter, the company reported Net charge-offs were $35,000 as compared to net recoveries of $22,000 a year ago.