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Valley Republic Bank Implements CetoLogic’s Deposit Reclassification to Recover Federal Reserve Balance, Offer More Investment, Community Opportunities

CetoLogic, a leading provider of software and analytics for financial institutions and retailers, announced that Bakersfield, Calif.-based Valley Republic Bank has implemented the company’s Deposit Reclassification solution, a software that reclassifies transaction accounts – both interest and non-interest bearing – to recover the $400 million asset bank’s reserve balance and free up millions of dollars to invest within its loan portfolio and community.

Compliant with Regulation D and Federal Reserve Board requirements, Deposit Reclassification is a retail sweep program that classifies a portion of an institution’s transaction accounts as savings deposits to reduce reserve requirements.

“Valley Republic Bank was keeping several millions of dollars at the Federal Reserve Bank, earning minimal interest as a non-liquid asset and reducing the funds available for new investment and revenue stream opportunities,” said Stephen Annis, executive vice president and chief financial officer for Valley Republic Bank. “CetoLogic’s Deposit Reclassification will enable Valley Republic Bank to increase income on our earning assets and reduce our reserve requirement, which will open up more opportunities to lend to our customers in the Central Valley of California.”

Reserve requirements are met with cash and a low-earning and non-liquid reserve balance at a bank’s local Federal Reserve Bank (FRB). Since savings deposits are not subject to reserve requirements, Deposit Reclassification reclassifies 60-80 percent of all checking accounts into savings deposits; typically reducing an institution’s reserve balance to zero. Funds previously held at the Fed are transformed into loans and other investments, creating a new and permanent revenue stream.

“Economic conditions and investment opportunities have grown more favorable for financial institutions and the opportunity to reclaim an idle reserve balance is one that should be taken advantage of,” said David Austin, vice president of CetoLogic. “By implementing Deposit Reclassification, Valley Republic Bank has greatly impacted its bottom line by making funds available that were previously inaccessible to offer loan opportunities or invest into the community.”

About Valley Republic Bank

Valley Republic Bank is a community bank that is subject to the regulatory oversight of the Federal Deposit Insurance Corporation and the California Department of Business Oversight. Valley Republic Bank is an insured, state-chartered, non-member bank of the Federal Reserve System. The Bank was established in 2009 and is headquartered in Bakersfield, California. Valley Republic Bank is a full-service, community bank with two banking offices in Bakersfield. Valley Republic Bank emphasizes professional, high quality banking services primarily to small- and medium-sized businesses and professionals. The Bank also provides a full range of banking services that are available to individuals and nonprofit organizations.

About CetoLogic

Atlanta, Ga.-based CetoLogic provides software solutions and analytics to financial institutions and retail organizations. CetoLogic proudly services the needs of more than 1,500 clients in 50 states and Canada. CetoLogic is the designer of C³ Financial, a web-based cash forecasting and management software. CetoLogic also pioneered Deposit Reclassification, a retail sweep program designed to eliminate reserve balances. CetoLogic’s solutions improve earnings, efficiencies, risk management and operations. For more information about CetoLogic’s solutions, call 1.877.495.0687 or visit their website at www.cetologic.com.

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