Yep, and as you know, that $390,000 wasn’t sitting idly while the bank waited to credit it to your account. They have a variety of short-term products they can put it into and generate some interest income before you gain full access to your funds.
Banks will routinely lend money to other banks on an overnight basis to help the banks remain in compliance with reserve requirements imposed by the Fed.
This is lent at the prevailing Fed lending rate for these transactions.