Testimonial Name: Bruce Thomas
Testimonial Title: EVP/CFO
Testimonial Company: Essex Bank
Testimonial Location: Richmond, Virginia
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Testimonial Content:
Essex Bank used Deposit Reclassification with logicpath in the past. We deactivated that solution during the early phase of the current low rate environment when we had excess liquidity on our balance sheet. Since that time, our reserve balance has grown to more than $10 million. With inevitable interest rate increases looming, coupled with our continued loan demand, we reengaged Deposit Reclassification. Based on our past experiences, it was a very easy decision to choose logicpath a second time to reduce our reserve balance to near zero.
Testimonial State: Virginia