- Reclaim up to 10% of your transactional deposits for reinvestment
- Permanently recover your Federal Reserve Bank balance
- Immediately impact your bottom line in less than 45 days with Deposit Reclassification
Debra Wooley SVP/Controller
Preparing for our future loan demand, MountainOne Bank sought to recover our $1.7 million Federal Reserve balance. We chose logicpath Deposit Reclassification to reduce our reserve requirement by reclassifying a portion of our checking accounts to savings. After going live, within a few short weeks, we received our Fed balance back in its entirety; allowing us to reinvest those funds into the communities we serve. We recommend logicpath and their Deposit Reclassification solution to other banks looking to capitalize on low performing assets.