Today, many financial institutions are required by federal and some state regulations to maintain image file records of all deposited checks and other negotiable instruments. In many instances, financial institutions are required to maintain this information for up to seven years. Currently, in the domestic market, tens of billions of dollars in checks are processed every year. The result of such a high volume of check processing by banks and other financial institutions is that very large amounts of storage space is required for properly maintaining image file records as required by law. Thus, there is a need to provide systems, methods, and computer program products that enable financial institutions to reduce the amount of storage space required for maintaining image file records of deposited checks and other negotiable instruments.