Bank Depository Services

The City of Granbury is soliciting proposals from qualified banking institutions to provide depository and banking services for a three-year term beginning February 1, 2027, with two optional one-year renewals. Institutions must maintain a full-service banking location within the Granbury city limits and meet all applicable federal and state requirements, including FDIC/NCUA insurance, membership in the Federal Reserve System, and compliance with Texas Local Government Code Chapter 105.

The City currently maintains approximately 30 bank accounts, including a primary pooled cash account, debt service accounts, grant administration accounts, and various trust and special-purpose funds.

The selected financial institution will provide comprehensive banking services, including deposit management, ACH processing, wire transfers, check processing, online banking, account reporting, fraud-prevention tools, collateralization of City deposits, and safekeeping services for City investments.

The depository services requested include, but are not limited to, the basic services of receiving deposits, paying items, receiving and sending wire transfers and ACH transfers, stop payments, and other normal banking activities. The depository services requested by the City will not include investment transaction activities (other than safekeeping services to include receiving and delivering securities and maturity collections), retirement or deferred compensation programs. The City plans to manage its own investment portfolio per its Investment Policy.

The City requires web-based, automated cash management services and prior day balance reporting for timely access to balance information and transactions on all accounts. Imaging of all checks and image retention is required. Standard deposit services and remote deposit services are required.

The bank shall pledge to the City securities equal to 105% of their market or par value, whichever is lower, of the largest total ledger balance the City of Granbury maintains in the bank, less the amount of coverage provided by the Federal Deposit Insurance Corporation (FDIC). [...] At the end of each month or at any time requested by the Director of Finance or a designated representative, the bank shall provide the City a report indicating the City's total deposits as well as the securities pledged to protect those deposits.

**Submission:** Sealed proposals clearly marked: "No. 26-27-03RFP Bank Depository Services" are due to the Finance Department by **December 3, 2026 @ 3:00 P.M. CST**. No electronic or facsimile transmissions will be accepted. Proposals received after that time will not be accepted and will not be returned.

A cover letter, not to exceed one page, must accompany the original and be signed by an individual authorized to bind the institution stating that the proposal is valid for 90 days from the submission date.

Evaluation criteria

• 25 % - banking services costs,
• 25 % - responsiveness and ability to provide required services,
• 25 % - earnings potential and funds availability,
• 10 % - experience and continuity of bank and bank officials, and
• 15 % - creditworthiness of the bank.

The final award of a depository bank shall be made by the City Council of the City of Granbury.

**Contract term:** The initial term of the contract shall be for three (3) years beginning February 1, 2027, and continuing through January 31, 2030, and may be extended at the City's option for two (2) additional one (1) year terms, under the original terms and conditions.

All questions regarding this RFP must be submitted exclusively through OpenGov.