Two Banks Select logicpath’s Deposit Reclassification Solution, Set to Free Up a Total of $21.7 Million in Liquidity


ATLANTA (Aug. 23, 2018) - LogicpathTM, a leading provider of software and analytics for financial institutions, announced that two banks have selected its Deposit Reclassification retail sweep solution, including: $396 million, Clear Lake, Iowa-based Clear Lake Bank & Trust Company; and $1 billion, Lakeville, Conn.-based Salisbury Bank and Trust Company.

Deposit Reclassification is a Federal Reserve Board-acknowledged practice that reclassifies a financial institution’s transaction accounts as savings deposits, which are not subject to reserve requirements. Reducing reserve balance requirements enables financial institutions to convert Fed-held funds into greater interest-earning assets, creating new and permanent revenue streams.

Salisbury Bank, a former logicpath client stated, “We previously relied on Deposit Reclassification for several years, and recently decided it was a strategic fit for our business again,” said Peter Albero, Chief Financial Officer of Salisbury Bank. “We are projected to recover $20 million after implementation.”

Clear Lake Bank & Trust Company is expected to regain $1.7 million through the implementation of Deposit Reclassification.

“Financial institutions are turning their attention to low-earning assets to capitalize on rising interest rates and an increase in loan demand. Former clients and new clients are selecting Deposit Reclassification as a strategic approach to fund demand with existing bank assets,” said Douglas Ceto, President and CEO of logicpath. “We believe there will be a continued appetite as financial institutions experience and prepare for better rates.”

About Salisbury Bank

Salisbury Bank is a full-service community bank headquartered in Lakeville, Connecticut and presently operates 14 full service branches in Connecticut, Massachusetts, and New York. The Bank has been serving families and businesses for over 170 years and offers a full range of consumer and business banking products and services as well as trust and investment services. Click here to learn more.

About logicpath

Atlanta based logicpath provides software solutions and analytics to financial institutions. The firm earned the trust of 2,000+ clients in the United States and Canada. Logicpath is the designer of C3 Financial, a SaaS cash forecasting and management software, and Deposit Reclassification, logicpath's Regulation D retail sweep program, designed to eliminate reserve balances. Logicpath's solutions improve earnings, efficiency, risk management, and operations. For more information call 1.877.495.0687 or visit