Checks for the monthly reserve for replacement deposits for 12 months were processed for the
entire year of 2023. We do admit the September and October 2023 deposits were received at the bank in
October 2023. However, in October of 2023, management was notified by the banking institution where the
R...
Checks for the monthly reserve for replacement deposits for 12 months were processed for the
entire year of 2023. We do admit the September and October 2023 deposits were received at the bank in
October 2023. However, in October of 2023, management was notified by the banking institution where the
Reserve for Replacement account is held that fraudulent activities had taken place with the reserve for
replacement accounts. The banking institution closed all accounts and restricted all routine depository activity
while they worked through the fraudulent activity. Because of this, the banking institution established new
accounts in January 2024 at which time the held payments were deposited into the new account. The checks
for the month of September and October cleared on January 02, 2024, management has adjusted the
replacement reserve balance to reflect the deposit on January 02, 2024, and have reversed the deposit shown
in September and October of 2023.