Umpqua Bank started its first day of operations with $10 million in capital on September 1, 2020. $180 million in checkable deposits was received. The bank invested in a $80 million commercial loan and $50 million mortgages, with the following term:

• Mortgages: 250 standard 30-year, fixed-rate with a nominal annual rate of 3.5% each for $200,000.
• Commercial loan: 5-year loan, simple interest paid monthly at 1.0% per month

The bank also purchased $40 million in 30-day T-bills. The T-bills were trading at $990.099 for a $1,000 face value.

On September 2, 2020, deposits fell by $5 million. If the required reserve ratio was 10%, what was the banks shortfall in reserves?