Primary Depository Services

The City of Georgetown is seeking a qualified financial institution to serve as its Primary Depository Bank for the period May 1 2027 – April 30 2029 (with up‑to‑three one‑year extensions). The contract covers a full suite of banking services, including: • Acceptance of city deposits and cash management (operating balances, excess funds, sweep accounts). • Safekeeping and custodial services for the city’s securities investment portfolio. • Remote deposit capture and processing of checks using the city’s seven multi‑feed TellerScan TS240 scanners. • Provision of BAI2 daily transaction files and integration with the city’s Workday ERP system. • Management of lockbox services (single lockbox for wholesale and retail). • Ability to support interest‑bearing checking, money‑market sweep, and fully FDIC‑insured cash sweep products that comply with Texas PFIA requirements. • Optional services such as collateral letters of credit (FHLB), CDARS, and other investment structures. The city requires electronic submission of proposals via its IonWave e‑bid system by 2:00 PM CT on 15 Oct 2026, with a pre‑application conference (non‑mandatory) on 17 Sep 2026. Questions were due by 25 Sep 2026. The contract will be awarded after evaluation of overall financial benefit to the city.