Welcome to our dedicated page for Savi Financial news (Ticker: SVVB), a resource for investors and traders seeking the latest updates and insights on Savi Financial stock.
Savi Financial Corporation (SVVB) provides investors and stakeholders with timely updates through its dedicated news hub. This page aggregates official press releases, financial disclosures, and strategic announcements from the regional banking institution known for its commercial lending expertise and municipal deposit growth strategies.
Access comprehensive coverage of SVVB's operational developments, including updates on loan portfolio management, regulatory compliance milestones, and market expansion initiatives. The curated collection serves as a reliable resource for tracking the company's disciplined approach to risk management and core deposit acquisition.
Key content focuses on financial performance updates, leadership changes, and service innovations within Savi Financial's commercial banking operations. Users will find information on SBA loan program developments, municipal finance partnerships, and credit solution enhancements – all critical to understanding the company's position in regional financial markets.
Bookmark this page for direct access to source materials that inform analysis of SVVB's conservative lending practices and deposit growth strategies. Check regularly for verified updates that reflect the institution's commitment to operational transparency in the evolving banking sector.
Savi Financial (SVVB) reported net income of $205,000, or $0.05 per diluted share, in Q3 2024, compared to a net loss of $5,000 in Q2 2024 and net income of $558,000 in Q3 2023. The improved results were driven by increased net interest income, lower non-interest expense, and net interest margin expansion to 3.52%. Total loans remained relatively flat compared to the previous quarter at $509.5 million, while total deposits increased 4% to $512.9 million. The company's pending acquisition by Harborstone Credit Union, announced in March 2024, is expected to complete in spring 2025.
Savi Financial (OTC Pink: SVVB) reported a net loss of $5,000 for Q2 2024, compared to a net loss of $416,000 in Q1 2024 and net income of $561,000 in Q2 2023. The company's net interest margin expanded to 3.48%, surpassing the peer average of 3.14%. Despite challenges, Savi Financial saw strong loan growth of 3% from the previous quarter and 10% year-over-year. Total deposits increased by 1% to $492.1 million. The company announced a merger with Harborstone Credit Union, expected to close in Q1 2025. SaviBank maintained strong capital levels with a tier-1 leverage ratio of 8.27% at quarter-end.
Savi Financial , Inc. reported a net loss of $416,000 in the first quarter of 2024, impacted by higher interest expenses and lower noninterest income. Despite the net loss, the company saw solid growth in loans and deposits, with a focus on maintaining strong capital ratios. The merger with Harborstone Credit Union is expected to bring additional value to shareholders. The company's net interest margin contracted but remained above the peer average.
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