LYNNWOOD — A Pacific Crest Savings Bank veteran, Ed Hedlund, has rejoined the community bank’s board of directors.
Hedlund was on the board and co-president of the Lynnwood-based bank when he left for Washington Federal in 1999. He recently retired from Washington Federal as an executive vice president.
He played a critical role in Pacific Crest’s evolution, the bank’s President and CEO Sheryl Nilson said in a news release. The bank’s leaders “are very happy that we are able to welcome back one of our organization’s original visionaries.”
Pacific Crest was founded in 1984 as Phoenix Mortgage and Escrow. In 1997, Hedlund helped convert the organization into Pacific Crest Savings Bank, a state-chartered and federally-insured savings bank.
At the bank’s shareholder meeting in May, Fred Safstrom was appointed chairman of the board. He has been on the board since 2013. Currently, he is chief operating officer at Housing Hope, an Everett-based, non-profit housing assistance and advocacy organization.
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