Business Banking - Treasury Mgmt.
The Automated Overnight Sweep provides the usage of excess funds to paydown/draw on a Line of Credit or earn investment income with the convenience of automation and the security of daily liquidity. The Sweep works in conjunction with a Lake City Bank business checking account. Funds go to a standard Lake City Bank investment pool (known as “Repo” Sweep). At the end of each business day, the Bank’s computer calculates the collected balance and moves funds to/from the investment or line of credit to meet the Target Balance. The invested funds earn interest on a daily basis and post to the checking account daily.
Contact a Lake City Bank Treasury Management representative at CIS@lakecitybank.com for more information.
*Mutual funds managed by Federated Investors, Inc. are not obligations of, nor guaranteed by, Lake City Bank, are not FDIC insured and may involve risks, including possible loss of principal.