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SaviBank
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Summary
location iconBurlington, Washington
company sizeCompany size: 51-200

SaviBank first opened as Business Bank, serving the Skagit Valley Community on April 11, 2005. 270 shareholders invested in the idea of a locally owned community bank that would serve local businesses and professionals. The Burlington Branch was the first to open and was the corporate headquarters for the company until 2019 when the branch was relocated. The corporate headquarters is now located at the Blackburn Branch in Mount Vernon.

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Commercial Banks
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SaviBank - Recent News & Articles

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13 Mar, 2024
Visualizing Major U.S. Banks by Commercial Real Estate Exposure

The six largest U.S. banks saw delinquent commercial property loans nearly triple to $9.3 billion in 2023 amid high vacancy rates and increasing borro...

13 Mar, 2024
Goldman Sachs Aims for $300 Billion Private Credit Portfolio

Goldman Sachs Asset Management is reportedly planning a major expansion of its private credit portfolio. The Wall Street giant aims to grow that portf...

Source: PYMNTS
11 Mar, 2024
Powell warns commercial real estate woes will lead to bank failures: ‘This is a problem that we’ll be working on for years’

Federal Reserve Chair Jerome Powell joined a chorus of US officials who have argued that mounting bad commercial real estate loans will likely cause s...

Source: Fortune
7 Mar, 2024
Why private equity has been involved in every recent bank deal

The $1 billion-plus injection that New York Community Bank announced Wednesday is the latest example of private equity players coming to the need of a...

Source: CNBC
16 Feb, 2024
Hindenburg’s latest short target Temenos rejects allegations as share price tumbles

Temenos shares were down over 6% on Friday after closing over 28% lower on Thursday. The Swiss software company said its board of directors “fundament...

Source: CNBC
31 Jan, 2024
New York Community Bancorp’s stock crushed on surprise loss, dividend cut and cost of two loans

New York Community Bancorp Inc.’s stock lost more than a third of its value Wednesday in its steepest one-day drop ever, after it posted a surprise lo...

Source: MarketWatch
6 Jan, 2024
Is private credit a systemic risk?

Back in November, UBS chair Colm Kelleher predicted that the next financial crisis would happen in shadow banking — delightfully infuriating Apollo’s ...

11 Nov, 2023
China’s ICBC, the world’s biggest bank, hit by cyberattack that reportedly disrupted Treasury markets

The U.S. financial services division of Chinese bank ICBC was hit by a cyberattack that reportedly affected the trade of U.S. Treasurys. ICBC, the wor...

Source: CNBC
21 Oct, 2023
Big banks are quietly cutting thousands of employees, and more layoffs are coming

Even as the economy has surprised forecasters with its resilience, lenders have cut headcount or announced plans to do so, with the key exception bein...

Source: CNBC
18 Sep, 2023
FedNow Has Launched As Blockchain Innovation Delivers Next-Gen Instant Payments

The U.S. Federal Reserve launched FedNow in July, the first government real-time payment system in the U.S. The service allows banks and credit unions...

Source: Forbes