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Old National representatives brief commissioners on cash-management options after bank conversion
Summary
Old National Bank representatives (self-identified as Kate and Bryce Welch) updated the commission on cash-management options including CDs and an ICS money market and said they can provide proposals for county investments and liquidity needs.
Representatives from Old National Bank described services and investment options to county officials following their local conversion earlier this year.
"My name is Kate," the presenter said, and introduced Bryce Welch of the wealth group. The presenters described CDs, an ICS money market product for liquidity and collateralization strategies, and noted that cash-management options could be tailored to the county's needs. "We also still have the ICS money market... It also allows for a pretty good rate money markets," the presenter said.
Commissioners described current holdings and the need for liquidity. Old National asked county staff to reach out if they want proposals for bond ladders, CD maturities or cash sweeps; the bank representatives said rates may move depending on federal interest-rate changes.
Provenance: topicintro SEG 1238; topfinish SEG 1410.
