Bank Depository Services

Description: 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 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 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. Proposals will be evaluated based on service capabilities, cost, earnings potential, creditworthiness, experience, and responsiveness to all requirements outlined in RFP #26‑27‑03. The final award will be made by the City Council of the City of Granbury. The City of Granbury utilizes a centralized banking structure to manage daily financial operations, including utility billing, accounts payable, payroll, tax collections, grant funds, and investment activity. Most transactional activity flows through a primary pooled cash account, which receives a high volume of ACH and credit card payments and issues both ACH and wire disbursements. The City requires a high level of automation, reliability, and security in all banking services. Online access to detailed balance and transaction information, imaging tools, remote deposit capabilities, and fraud‑prevention features are essential components of the City’s banking operations. The City also manages its own investment portfolio and requires secure safekeeping and timely settlement of all investment transactions under a delivery‑versus‑payment structure. To protect public funds, the depository bank must pledge collateral at 105% of the City’s deposits (less FDIC insurance) and provide monthly collateral reporting. The City places significant emphasis on strong customer service, financial stability, competitive earnings rates, and the institution’s ability to meet all operational cut‑off times, reporting requirements, and service expectations outlined in the RFP. SCHEDULE FOR PROPOSAL SUBMISSION The following dates are set forth for information and planning purposes; however, the City reserves the right to change the dates as needed. Submitters are advised to closely monitor any potential date changes.   TASK DATE RFP advertised in local newspaper Saturday, October 24, 2026 RFP distributed to local prospective financial institutions Monday, October 26, 2026 RFP advertised in local newspaper Saturday, October 31, 2026 Submission deadline Thursday, December 3, 2026, by 3:00p.m. Review of proposals and discussion begins with City Staff/Submitting Banks Monday, December 7, 2026 Council presentation and award of contract Tuesday, January 5, 2027 Notify all submitters of results Wednesday, January 6, 2027 Sign all Agreements Wednesday, January 6-8, 2027 Begin implementation of changing to new bank Monday, January 11, 2027 New bank depository contract period begins February 1, 2027