CECL Transition with Sageworks

Navigate the CECL transition with a trusted ALLL partner

Video: 5 Steps for CECL implementation planning

How Blue Ridge Bank is preparing for CECL

Challenge

Blue Ridge Bank was concerned that the FASB’s new CECL model will bring significant changes to the ALLL calculation. Brian Plum, President and CEO, states, “Once FASB started rearing its head, our executive team started talking about the need for an automated solution.” Because the bank was calculating its ALLL on internal spreadsheets, there was concern about its processes holding up to the increased demand for granularity and the overall complexity of the ALLL calculation under CECL.

Hear why bankers rely on Sageworks ALLL

Save Time on the ALLL

"Prior to automating our calculation, we had numerous spreadsheets with numerous tabs. It would take me 3 to 4 weeks to do the calculation and board members had difficulty understanding it. With Sageworks, it takes me about 2 days to do the calculation."

Sean McCabe
SVP and Sr. Credit Administrator
Bank of Manhattan

 

The destination website for the ALLL calculation. Visit ALLL.com for resources on how to prepare, manage and strategically plan for the ALLL.

CECL Prep Kit

CECL Prep Kit

Helping you prepare for upcoming regulatory changes relating to FASB’s Current Expected Credit Loss model