SaviBank Welcomes Flora Lucatero to its Board of Directors

MOUNT VERNON, Wash., May 31, 2023 (GLOBE NEWSWIRE) -- Savi Financial Corporation, Inc. (OTC Pink: SVVB) (the “Company”), the bank holding company for SaviBank (the “Bank”), today announced that Flora Perez-Lucatero has joined the Board of Directors of SaviBank, effective immediately.

“It’s a pleasure to welcome Flora to our Board of Directors,” said Michal D. Cann, Chairman of SaviBank. “She brings over two decades of outstanding service and expertise in community outreach to our organization. Flora is exceedingly well-known and highly respected in our local communities, and we look forward to utilizing her extensive experience as we continue to build awareness of the great products and services we provide, and the commitment we have to the communities we serve.”

In 2006, Ms. Lucatero established Children of the Valley (COV) in her quest to provide a much-needed after school service for children within her community. As the founding and current Executive Director, she oversees all day-to-day operations and finances, working in collaboration with COV's Board of Directors to ensure all opportunities and objectives are being met in the most effective manner. In addition to three Mount Vernon locations, COV expanded its services in 2022 with two additional locations in Sedro-Woolley and Burlington.

With more than two decades of experience working directly with low-income and at-risk youth, Ms. Lucatero gained valuable experience serving as the Program Director for the College Assistance Migrant Program at Central Washington University where she worked to assist migrant students not only attend college, but also receive the support they needed once enrolled. Prior to that, she worked at the Skagit County Best S.E.L.F. Program during her summer months in college, working directly with low-income students from the community.

Ms. Lucatero received her Bachelor of Arts degree from Western Washington University. She is an extremely active community member, serving on countless Boards and committees, including Skagit Valley Hispanic Multi-Disciplinary Board (Board member, 2006-2013); META Performing Arts Board (Board member, 2010-2012); West View Parent Teacher Association (President, 2011-2015); Madison Elementary School Site Committee (Parent representative, 2015-2017); Mount Vernon-Conway Youth Baseball Board (Vice President, 2016-present); and Skagit Valley College (Board of Trustees, 2017-present).

When she isn't serving her community through volunteer work or inspiring colleagues, fellow community leaders, and women through her positive actions, Ms. Lucatero can be found teaching group fitness classes or running. She has been married to her husband, Rafael, for 16 years, and is the mother of four wonderful sons.

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.