Testimonial Name: Randy Johnson
Testimonial Title: VP of Operations
Testimonial Company: Central Bank
Testimonial Location: Storm Lake, Iowa
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Testimonial Content:
Central Bank recently acquired seven additional branch locations, which resulted in a significant increase in the bank’s reserve requirement. In response, Central Bank implemented logicpath's Deposit Reclassification to free those low-earning, non-liquid funds from the Federal Reserve Bank to fund more lending and higher yield investment opportunities. When we added the new branches, we also absorbed those branches’ deposit bases, which had an immediate impact on our Federal Reserve requirement levels. Concurrently, we have been experiencing a high demand for loans, so we needed a way to free up more funds to meet this opportunity, and logicpath's Deposit Reclassification enabled us to do so.
Testimonial State: Iowa