Mt. Washington Bank Introduces Cash Sweep Account
New Product Expands Cash Management Services

(South Boston, MA) - - -Mt. Washington Bank has expanded its cash management services, enhancing their business clients’ ability to manage their money through the Mt. Washington Bank Cash Sweep Account. This new product offers a competitive interest rate and a high degree of safety while also providing daily liquidity. Clients have the opportunity to maximize revenue while simplifying their cash management needs.

Excess cash in a client’s account is invested in a diversified portfolio of high-quality money market securities.* In addition, the Mt. Washington Bank Cash Sweep Account provides a higher level of safety and security relative to most other money funds.

“The Mt. Washington Bank Cash Sweep Account gives our business clients the efficient, time-saving cash management they require,” said Edward J. Merritt, President and CEO of Mt. Washington Bank.

Reserve Management Company, Inc. a registered investment advisor, is the fund manager of the money market funds for Mt. Washington Bank Cash Sweep Account.

*FDIC insurance on each Mt. Washington Bank Cash Sweep Account will be limited to a combined total of $100,000 for all deposits held in the same legal ownership category per bank, which includes the Mt. Washington Bank Cash Sweep Account and any other balances held directly or through other intermediaries.

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Founded in 1893, Mt. Washington Bank is one of the fastest growing business banks in Boston. With over $500 million dollars in total assets, the Bank has five branches - three in South Boston, and two in Dorchester. It recently announced it first merger with Roxbury Highland Bank in Jamaica Plain, which will officially become part of the Mt. Washington Bank in May.