Case Study: Bank Independent achieves CECL readiness and slashes allowance calculations from one week to two days with Abrigo's Sageworks ALLL

Bank Independent - Customer Case Study

Bank Independent, a $1.4 billion community bank in Sheffield, AL, was using an Excel-based model to calculate its monthly allowance for loan and lease losses, a slow, error-prone process that took a full week and posed data-security and CECL-preparation risks. To address this, the bank selected Abrigo’s Sageworks ALLL to replace its spreadsheet workflows and modernize allowance calculations.

With help from the Abrigo integration team, Bank Independent went live with Sageworks ALLL two months after purchase, even after a recent core conversion. Abrigo’s solution cut calculation and checking time from about one week to roughly two days, automated many audit documents for quicker access, and freed at least one week previously spent preparing examination materials, improving efficiency and CECL readiness.

Bank Independent

J. Raleigh Green II

Asset Quality Officer