U & I Financial Corp. and UniBank Name Stephanie Yoon Chief Executive Officer; Adds New Directors

Rhea-AI Summary

U & I Financial Corp (OTCQX:UNIF), the holding company of UniBank, has announced significant leadership changes. Stephanie Yoon has been appointed as the permanent Chief Executive Officer of both the Company and Bank, effective July 16, 2024. Yoon, a 13-year veteran of the Bank with 30 years of banking experience, has been serving as Interim CEO since February 2024.

The company has also added two new directors: Ken Johnson, former Executive VP of Banner Bank, and Scott Strand, former Executive VP and COO of Boeing Employees Credit Union. Additionally, Ellis Chang, a director since 2021, has been appointed as chair of the Boards.

Positive

• Appointment of experienced internal candidate Stephanie Yoon as permanent CEO
• Addition of two new directors with extensive banking and operations experience
• Appointment of Ellis Chang, a CPA with a Masters in Accounting, as chair of the Boards

Negative

• None.

LYNNWOOD, WA / ACCESSWIRE / July 16, 2024 / U & I Financial Corp. (OTCQX:UNIF), the holding company (the "Company") of UniBank (the "Bank"), announced today that the Board of Directors selected Stephanie Yoon as the permanent Chief Executive Officer (CEO) of the Company and Bank, effective July 16, 2024. She will also join the respective Boards of Directors of the Company and the Bank (collectively "the Boards").

Yoon is a 13-year veteran of the Bank with 30 years of banking experience, and has been the Bank's Interim Chief Executive Officer since February 2024. Prior to her appointment as CEO, she served as the Bank's Executive Vice President and Chief Risk Officer from 2015, and prior to that as Senior Vice President and Senior Planning Officer from 2011 to 2015. Before joining the Bank, for 17 years Yoon held senior positions at Nara Bank and Hanmi Bank in Los Angeles and Citibank in Seoul, Korea. She earned an MBA from the Wharton School at the University of Pennsylvania.

The Company and the Bank also added two new directors:

• Ken Johnson was most recently Executive Vice President - Head of Operations for Banner Bank and prior to that President and Chief Operating Officer of Skagit Bank.

• Scott Strand was most recently Executive Vice President and Chief Operating Officer of Boeing Employees Credit Union ("BECU") and prior to that served BECU as Chief Lending Officer and Senior Vice President of Member Operations.

Also, Director Ellis Chang, who has served on the Boards since 2021, has been appointed to the position of chair. She is a CPA and has a Masters in Accounting from the University of Texas.

Chang said, "The Boards conducted a thorough search for our new CEO, considering both external and internal candidates. Ms. Yoon has proven her leadership and strategic capabilities and has earned the strong support of the Boards. She will continue our commitment to our constituencies including our shareholders, community, and customers."

About UniBank

UniBank, the wholly-owned subsidiary of U & I Financial Corp. Founded in 2006 and based in Lynnwood, Washington, the Bank serves small to medium-sized businesses, professionals, and individuals across the United States. Customers can access their accounts in any of the four branches - Lynnwood, Bellevue, Federal Way and Tacoma - online or through the Bank's ATM network. For more information visit www.unibankusa.com.

Forward-Looking Statement Safe Harbor

This news release contains comments or information that constitutes forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations that involve a number of risks and uncertainties. Forward-looking statements describe U & I Financial Corp.'s projections, estimates, plans and expectations of future results and can be identified by words such as "believe," "intend," "estimate," "likely," "anticipate," "expect," "looking forward," and other similar expressions. They are not guarantees of future performance. Actual results may differ materially from the results expressed in these forward-looking statements, which because of their forward-looking nature, are difficult to predict. Investors should not place undue reliance on any forward-looking statement, and should consider factors that might cause differences including but not limited to the degree of competition by traditional and nontraditional competitors, declines in real estate markets, an increase in unemployment or sustained high levels of unemployment; changes in interest rates; adverse changes in local, national and international economies; changes in the Federal Reserve's actions that affect monetary and fiscal policies; changes in legislative or regulatory actions or reform, including without limitation, the Dodd-Frank Wall Street Reform and Consumer Protection Act; demand for products and services; changes to the quality of the loan portfolio and our ability to succeed in our problem-asset resolution efforts; the ongoing uncertainties from COVID-19; the impact of technological advances; changes in tax laws; and other risk factors. U & I Financial Corp. undertakes no obligation to publicly update or clarify any forward-looking statement to reflect the impact of events or circumstances that may arise after the date of this release.

Investor Relations
Simon Bai
(425) 275-9704

SOURCE: U & I Financial Corp. (Washington)

View the original press release on accesswire.com

FAQ

Who is the new CEO of U & I Financial Corp and UniBank?

Stephanie Yoon has been appointed as the permanent Chief Executive Officer of U & I Financial Corp (OTCQX:UNIF) and UniBank, effective July 16, 2024.

What is Stephanie Yoon's background in banking?

Stephanie Yoon has 30 years of banking experience, including 13 years at UniBank. She previously served as Executive Vice President and Chief Risk Officer, and has held senior positions at Nara Bank, Hanmi Bank, and Citibank.

Who are the new directors added to U & I Financial Corp's board?

U & I Financial Corp (OTCQX:UNIF) has added two new directors: Ken Johnson, former Executive VP of Banner Bank, and Scott Strand, former Executive VP and COO of Boeing Employees Credit Union.

Who has been appointed as the chair of U & I Financial Corp's board?

Ellis Chang, who has served on the board since 2021, has been appointed as the chair of U & I Financial Corp's (OTCQX:UNIF) board. Chang is a CPA with a Masters in Accounting from the University of Texas.