Texas Galveston Civic Plus #RFP 26-21

Galveston seeks municipal banking depository and treasury services

The City of Galveston is seeking a banking partner to manage municipal deposits, payments, and treasury operations. - Government buyer: City of Galveston, Department of Finance, Purchasing Division, Texas. - Procurement: Banking depository services, including account management, deposits, payment processing, wire transfers, ACH, lockbox, online cash management, reconciliation, positive pay, fraud prevention, vault services, safekeeping, and collateral management. - Named organizations and providers: Frost Bank is identified as the City’s current bank. Federal Home Loan Bank (FHLB) is referenced as a potential source of a letter of credit for collateralization. CDARS is mentioned as a deposit-management option the City does not accept. No prospective bidders or selected awardee are identified. - Notable requirements and clarifications: The City requires a locally accessible, full-service banking branch and will not accept a distant Dallas branch as a substitute. It will accept an FHLB letter of credit in place of pledged securities and is open to fully FDIC-insured cash-sweep money market accounts, but not CDARS. The addendum reports an average concentration-account operating balance of $15 million and a current earnings credit rate of 0.9%. - Scope and quantities: The attachments list banking services but no product purchases, part numbers, or requested service quantities. The account-analysis statement records examples of current activity, including 645 remote-payment transactions, 5 positive-pay units, 12 zero-balance accounts, and 19 BAI2 reporting units; these are not stated as solicitation quantities. - Term: Three years, with two one-year renewal options.

Description

The City of Galveston is soliciting competitive sealed proposals from qualified vendors to provide banking depository services, as described in the RFP scope of work. Electronic proposals must be submitted through the Submittal Upload portal by October 23, 2026, at 10:00 A.M. CST; late submissions will not be accepted. The proposed agreement term is three years, with two successive one-year renewal periods. The City may award multiple agreements and reserves the right to reject any or all proposals.

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