Sep 04, 2025

Harborstone Credit Union

Harborstone Credit Union, headquartered in Lakewood, has acquired SaviBank, headquartered in Mount Vernon, and its parent holding company, Savi Financial Corp. SaviBank's banking offices will continue to operate as branches of Harborstone. As a result of the transaction, Harborstone now has approximately $2.7 billion in assets, $2.2 billion in loans, $2.4 billion in shares and deposits and has 26 branches throughout Island, King, Pierce, San Juan, Skagit, Thurston, and Whatcom counties in Washington.

Savi Financial has been paid an aggregate price in the transaction of approximately $77.6 million. However, the final price per share to be received by stockholders will be reduced to reflect post-closing expenses and other factors that Savi Financial incurs in the course of its liquidation.

“We are excited to announce the acquisition of SaviBank. We look forward to being a part of the communities that SaviBank serves and welcome SaviBank's customers and employees into the Harborstone family,” said Geoff Bullock, president and CEO of Harborstone. “This acquisition expands our footprint into Northwestern Washington and will result in expanded product, service and technology offerings for SaviBank's customers. As we bring our communities together, we look forward to continued engagement in the communities we serve, fostering a strong organizational culture, and a sincere care for our members' and customers' financial wellness. Additionally, we are committed to working closely together with our SaviBank partners towards a smooth integration.”

Harborstone Credit Union was advised in the transaction by McQueen Financial Advisors as exclusive financial advisor and Luse Gorman, PC, as legal counsel. SaviBank and Savi Financial was advised by Panoramic Capital Advisors as exclusive financial advisor; Buchalter, A Professional Corporation, as legal counsel; and Hillworth Securities LLC provided a fairness opinion.

Sep 03, 2025

Optimum Energy

Norwood

Optimum Energy has appointed Erik Norwood as its new chief product officer. Norwood brings over a decade of experience as a former solar executive and Boeing rocket scientist. As chief product officer, he will expand on Optimum Energy’s technology in chiller plants to provide campus-wide energy solutions for its partners in hospitals, research campuses, higher education, and advanced manufacturing. Optimum Energy offers holistic energy infrastructure optimization, providing comprehensive and integrated solutions to mission-critical facilities. Its expertise spans a full spectrum of services, from initial engineering and construction to ongoing maintenance, asset management, and Energy-as-a-Service (EaaS) offerings.

Aug 29, 2025

Damage Prevention Hero

Garcia

Kemp Garcia, a safety professional for Kirkland-based The Integrated Group and Dig Law Advocates, is one of four safety professionals nominated for the national Damage Prevention Hero of the Year. Kemp started out in the construction industry as a private locator and progressed to vac and excavation, and now safety and mitigation. He has played an active role in revising the Dig Law in Washington state on two separate occasions. Kemp has lead Dig Safe classes for NUCA of Washington for over a decade, working to minimize damages and injuries related to underground utilities. Voting for the Damage Prevention Hero of the Year is open at https://actsnowinc.com/ through Sept. 17.

BakerHostetler

Wang

Phillip Wang has joined BakerHostetler's Seattle office as a partner in the firm's Labor and Employment Practice Group and a member of the Employment Deal team. Wang has more than 20 years of mergers and acquisitions and transaction-related experience in a variety of employment matters, including senior-level executive terminations and restrictive covenant issues. His counseling spans key regulatory areas including Title VII, the Equal Pay Act, the Age Discrimination in Employment Act, the Family and Medical Leave Act, the Americans with Disabilities Act, the Fair Labor Standards Act, the Worker Adjustment and Retraining Notification Act, and the New York State and New York City human rights laws. In addition, he has successfully handled complex employment litigation and workplace disputes in federal and state courts as well as before administrative agencies such as the National Labor Relations Board and the Public Employment Relations Board. Wang received his J.D. from the Benjamin N. Cardozo School of Law and a B.A. from the University of Pennsylvania. BakerHostetler helps clients around the world address complex and critical business and regulatory issues.

University of Washington Tacoma

The University of Washington Tacoma has established the Strickland Fellowship for Career Pathways, named in honor of Congresswoman Marilyn Strickland's contributions to education and workforce development in Tacoma and the South Sound. The program provides students with hands-on experience working on municipal projects in Tacoma city departments, helping them prepare for engineering careers close to home. The fellowship's name was unveiled during a ceremony recognizing Strickland, who helped shape the program's vision while serving as Tacoma's mayor. The program was established through a partnership between UW Tacoma, Tacoma Public Utilities and local nonprofit Degrees of Change. It aims to build a local workforce pipeline that helps meet the region's need for more STEM talent. The program began with a focus on civil engineering with plans to expand into other disciplines within UW Tacoma's School of Engineering and Technology. The second cohort of students will begin the fellowship in September. More information is available at tacoma.uw.edu/stricklandfellowship.

Aug 28, 2025

Department of Commerce

Zavala

Daniel Narvaez Zavala is the state Department of Commerce's new chief operating officer. Zavala was appointed by Commerce Director Joe Nguyen and began state service earlier this summer. Zavala has nearly 20 years of experience working in education, housing, law and nonprofits. Most recently, he served as executive director of Building Changes, a statewide organization dedicated to advancing equitable solutions to prevent and end homelessness for youth and families. Under his leadership, the organization grew new partnerships, expanded its footprint and impact, and secured more funding for housing stability. Zavala also held senior leadership roles in education advocacy, leading efforts to improve school funding, transparency, and accountability across multiple states. He began his career as a special education teacher in New York City and Washington, D.C. He also worked at the state Attorney General's Office, as well as at Boeing and Amazon. Zavala holds a Juris Doctor from the University of Washington School of Law, and a master's in psychology and a bachelor's in international relations from Stanford University. He is a member of the Washington State Bar, and his executive education includes programs at the University of Washington Foster School of Business and Harvard Business School.

Pacific Crest Bank

Pacific Crest Savings Bank, a Lynnwood-based local and independently owned financial institution, has changed its name to Pacific Crest Bank, as part of a refresh that updates the bank's brand to better align with the financial services it provides. “Though subtle, this update to our name reflects a meaningful step forward,” said Sheryl Nilson, CEO of Pacific Crest Bank. “It allows us to better represent who we are today, while staying true to the values and relationships that have defined us for years. This new identity gives us the flexibility to expand our offerings, serve new community members and organizations, and continue delivering the high level of service our clients expect.” The bank was originally established in 1984 by John Fairchild, Harry Sankey and current President and CEO Sheryl Nilson as Phoenix Mortgage and Escrow. In 1998, Phoenix Mortgage converted to a Washington state-chartered, federally insured savings bank, known as Phoenix Savings Bank until it rebranded to Pacific Crest Savings Bank in 2005. Today, the bank offers specialized loans for commercial, multifamily, floating homes and residential properties along with construction loans for local builders. Its savings and deposit services for personal and business banking are designed to meet each client's needs and goals. The bank's local ownership remains the same.

Aug 27, 2025

Vigor Marine Group

Vigor Marine Group has announced a strategic partnership with South Korean shipbuilder Samsung Heavy Industries (SHI). The collaboration will expand maintenance, repair and overhaul (MRO) capacity to the Indo-Pacific region, offering the U.S. Navy and Military Sealift Command (MSC) a new option to keep vessels mission-ready. In addition, the two companies may explore opportunities to support a U.S. shipbuilding renaissance, including a return to Vigor's shipbuilding roots in the Pacific Northwest.

The U.S. Navy has been actively seeking partners capable of executing forward repair to increase the availability of its fleet. Together, this partnership will combine Vigor's customer relationships and ability to deliver complex projects on time and on budget with SHI's world-class Korean shipyard facilities, skilled workforce and advanced technology leadership. The result is a new forward repair solution designed to add high-quality repair capacity and operational agility, with Vigor Marine Group as the lead U.S.-based prime contractor.

“At Vigor Marine Group, our primary focus is on providing solutions to our customers,” said Francesco Valente, president and CEO of Vigor Marine Group. “We understand the Navy's evolving needs and have built a track record of delivering results in support of our national defense. Partnering with Samsung allows us to extend that same capability to forward-deployed operations in the Indo-Pacific and potential shipbuilding opportunities here in the U.S. — helping the Navy increase its operational tempo while maintaining the highest quality standards.”

With operations in five locations, Vigor's family of companies employs 2,500 people in the Pacific Northwest, California and Virginia.