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History:

Since 1981, when the company was known as Lynnwood Mortgage Corporation, Golf Savings Bank has quietly become one of the leading mortgage lenders in the Northwest.

By the end of 2009, Golf was Washington’s largest purchase FHA/VA and Conventional lender headquartered in this state. The company closed a record $2.9 billion in residential loans during the past year, a 105% increase over 2008.

Throughout the 1980s and 1990s, Lynnwood Mortgage, under the leadership of its founder, Charles Ainslie, grew steadily, navigating the highs and lows of the economy and eventually becoming one of the most successful mortgage banks in the Northwest. In 2000, Lynnwood Mortgage became Golf Savings bank, a full service bank that quickly became one of the most successful startup banks in US history.

By 2005, Golf ranked as Washington’s fifth largest mortgage lender and, in 2006, with the merger of Lynnwood Financial Corporation and Sterling Financial Corporation, became part of Sterling Financial.

Golf’s remarkable rise has continued through difficult economic times. At the start of 2010, the company had 32 mortgage offices throughout Washington, Oregon, Idaho and Montana, with over 650 employees. Its lone retail branch, at Mountlake Terrace headquarters, outperforms much larger banks and as of December 31, 2009, had over $580 million in assets.

Donn Costa, Executive Vice President, who has been a key member of the Golf team since 1994, attributes the company’s success to “our ability to recruit high quality loan originators and operational staff who specialize in mortgage lending. With increased success, we continue to attract better employees who want to be part of a winning team.”

Operating on the philosophy of the game for which it’s named—honesty, integrity and character—the company looks forward to this decade and to continued growth.

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