CHURCHILL MORTGAGE CONTINUES EXPANSION IN PACIFIC NORTHWEST WITH ACQUISITION OF SALEM BASED TEAM CANALES

By Press Release

Churchill Mortgage Continues Expansion in Pacific Northwest with Acquisition of Salem Based Team Canales

Mortgage lender approaches 150 teammates in the rapidly growing PNW region just two years after launch

Churchill Mortgage, an industry leader providing conventional, FHA, VA and USDA residential mortgages across 48 states, announced today the next chapter of its Pacific Northwest expansion with the acquisition of Team Canales, a team led by three women with over 40 years of collective mortgage experience specializing in personalized home loans for a diverse range of buyers.

The acquisition brings the PNW division's total headcount to nearly 150 teammates, reflecting Churchill's rise as one of the region's fastest growing mortgage lenders. Team Canales, founded by Katy Canales in 1998, provides conventional, FHA, VA and USDA loans for families hoping to find the best home that fits their lifestyle. With Canales at the helm as a mortgage loan originator, the team also includes Katy's twin sister, Tricia Parker, as a loan processor, and Courtney Benson, also a loan processor.

With more than four decades of combined industry experience, Team Canales will help expand Churchill's presence in the PNW region, specifically throughout Oregon in Salem, Portland, Eugene and Corvallis. "Katy and her team have been deeply rooted in the Salem market for decades and have consistently demonstrated their credentials as industry leaders – not just from being able to help clients close on their mortgages, but by building strong communities through their deep care and compassion for others," said Kevin J. Hanna, President of the Churchill Mortgage Pacific Northwest Region.

"Expanding our PNW footprint provides us with additional firepower to positively impact local communities by deploying resources that empower our customers to achieve the ultimate dream of debt-free homeownership. The Canales

team is a true embodiment of the Churchill Mortgage culture and values, making them a seamless transition into our family.”

Because buying a home is a huge decision and comes with a lot of stress, the Canales team strives to make the home loan process as easy as possible for buyers by always being available for questions and offering years of experience.

"At Team Canales, we are here to help. We want to help others, every step of the way, achieve their goals of homeownership," said Canales.

"We love what we do and we are thankful to be working with Churchill Mortgage."

Team Canales joins Churchill Mortgage's PNW division at a time of rapid growth as the company recently surpassed $1 billion in annual loan volume just two years after opening its first branch.

The division launched in 2019 with a single office in Portland employing only four team members and has since grown to 24 locations across seven states, with a diverse mix of industry veterans and rising stars that are ingrained in their local communities.

Headquartered in Portland, the division has recently opened branches in several markets across the region, including Astoria, Ore.; Lake Oswego, Ore.; Bend, Ore.; Spokane, Wash.; Tacoma, Wash.; Boise, Idaho; Orem, Utah; and Anchorage, Alaska.

The company offers a debt reduction program for all employees and has partnered with charitable organizations throughout its geographic footprint, including Hunger Fighters, The Oregon Food Bank, Sackcloth & Ashes, With Love, Meg's Moments for Life Jackets, Shepherd's House Ministries and Youth Music Project.

About Churchill Mortgage

Founded in 1992, Churchill Mortgage is a privately-owned company by its more than 800 teammates. A full-service and financially sound leader in the mortgage industry, the company provides conventional, FHA, VA and USDA residential mortgages across 48 states. As heard on personal finance expert and author Dave Ramsey's nationally syndicated radio show, the lender's mission is to help borrowers achieve debt-free homeownership and build wealth through a smarter mortgage plan, regardless of their starting point. Churchill Mortgage is a wholly owned subsidiary of Churchill Holdings, Inc.

Churchill Mortgage's notable achievements include recognitions as a "National Top Workplace", "Top Lender" by Scotsman Guide: Residential, an eight-time "Top Workplace" by The Tennessean, one of the "Best Mortgage Companies to Work For" by National Mortgage News and a "Fast 50" company, "Top 100 Private Company" and "Best in Business" by the Nashville Business Journal.

For more information about Churchill Mortgage, visit churchillmortgage.com or follow the company on LinkedIn, Twitter @ChurchillMtg , Instagram, Pinterest & Facebook.

From Oregon Department of Revenue https://www.oregon.gov/dor/press/ documents/kicker_fact_sheet.pdf

Potential 2021 Kicker Credit

Why is a kicker in the news?

The Oregon Economic and Revenue Forecast released February 24, 2021 indicates Oregon’s actual revenue in 2019‒21 is expected to be better than projected, raising the possibility of an Oregon state surplus income tax credit known as the “kicker” to be claimed on the 2021 tax return that will be filed in 2022.

What is the kicker?

The kicker occurs if actual state revenues exceed forecasted revenues by 2 percent or more over the two-year budget cycle.

The excess, including the 2 percent trigger amount, is returned to taxpayers through a credit on their following year’s tax return. What happens next? This is a very early stage of the kicker determination process.

The Office of Economic Analysis (OEA) publishes quarterly revenue forecasts, and each forecast signals whether there is potential for a kicker and how much it might be. OEA will present another forecast in May 2021, but the final determination and certification will be presented in September 2021.

When would a kicker be available to taxpayers?

If OEA certifies the kicker on or before October 1, 2021, the credit will be claimed on the 2021 tax year return filed in 2022.

History of the personal income tax kicker • The 1979 Oregon Legislature passed the 2 percent “kicker” law. • Prior to 1994, refunds were made via a tax credit as they are now. • From 1995 until 2011, refunds were made via checks to taxpayers. • Prior to 2007, the refund amount was based on tax liability for the first full calendar year of the biennium. The 2007 Oregon Legislature changed the basis of the refund to tax before credits.