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.