Machias Savings Bank
Community banks have faced significant challenges over the past few years and, coming off the heels of, arguably, the most severe banking crisis the nation has seen in decades, Machias Savings Bank quickly recognized the signs of changing times. They had to evaluate what they could be doing differently to ensure success for both their customers and the bank itself. Machias was quick to take action by implementing a unique solution to solve its needs—Demand Deposit Marketplace.
Renasant Bank’s challenge was to implement a low-cost sweep solution to ultimately replace their existing programs with a simplified, comprehensive, automated sweep solution that benefits all of the bank’s customers while providing balance sheet flexibility to the bank.