Ellen Sas Named President and CEO of Seattle Savings Bank
For Immediate Release: April 15, 2008
Appointment signals new focus on commercial banking
SEATTLE - Ellen M. Sas has joined Seattle Savings Bank as its new president and chief executive officer, announced Seattle Financial Group President Robert E. Story, Jr.
Sas was formerly the president, chief executive officer and chairman of the board at Northstar Financial Corporation, a bank holding company previously headquartered in Seattle prior to its sale to Frontier Bank in 2006. Sas led the growth of Northstar Bank, quadrupling its asset size in five years and generating record profitability and returns. Sas was recognized in 2005 as one of the “25 Most Powerful Women in Banking” by U.S. Banker Magazine and maintains leadership positions in key banking and community organizations.
Over the past two years, Sas was a member of Frontier’s executive team where she served as executive vice president and chief risk officer. In this role, Sas was responsible for the initialization and adoption of an enterprise risk management governance structure for the $4 billion commercial bank.
Sas has also been an independent consultant to banking clients and a partner in the public accounting firm of Knight, Vale & Gregory (now McGladrey & Pullen LLP), where she specialized in the financial services industry. She is a graduate of the University of Washington.
The appointment of Sas as president reflects Seattle Savings Bank’s new emphasis on business banking. The bank, founded in 1999 as an affiliate of Seattle Mortgage, is expanding its product line to include a full array of business banking products and services. With $613 million in assets, Seattle Savings Bank has six branches in Bellevue, Bellingham, Seattle and Tacoma.
Family owned and operated, Seattle Financial Group is a financial services company with operations in banking, mortgage, insurance, escrow and real estate investment. The organization was first established in 1944 as Seattle Mortgage Company, which today is one of the oldest independent mortgage banking firms in the Northwest. Seattle Financial Group has more than 300 employees, primarily in the greater Puget Sound area, and operates under the brand names Seattle Capital, Seattle Escrow, Seattle Insurance Group, Seattle Mortgage Company and Seattle Savings Bank.
For more information contact:
Mary Grace Roske
Director of Corporate Communications
206.273.7359
mgroske@seattlefinancialgroup.com
www.seattlesavingsbank.com
