Funds used for daily operations such as payroll and accounts payable represent floating money. The bank doesn’t pay interest on this money.
It may represent only 2.8 % of cash at any time but over period of time it accounts for substantial amount of money. Bank does not pay interest on these accounts and earns interest. Please note that Washington hospital is the biggest employer in Tricity area

Fremont bank holds 40% of investment portfolio of the hospital, “ It pays standard custodian fee” according to spokesperson. How much is this standard amount to in dollar terms? Vanguard and Fidelity fund family’s charge 0.01%. How much does Fremont bank charge?
The public is entitled to know how much these percentages are in real dollar amounts
It is clear that Wallace( Fremont Bank executive) needs to sever financial relations with the hospital or failing which he has to resign as Trustee of the board.