Comprehensive Banking Services

The City of Franklin, Tennessee is seeking proposals for comprehensive banking services, including general banking, lockbox processing, and cash for change. The selected institution will be required to provide services that match or exceed the current services provided by Pinnacle Bank. The contract term is for four years, with an effective date of July 1, 2026. The proposer must be a bank association or financial institution organized and operating under the laws of the State of Tennessee or the United States of America, with either its principal office or a full-service branch office located within Williamson County, and an asset base of $100 million or greater. • The City has ten demand deposit accounts with the current bank, including interest-bearing and non-interest-bearing accounts. • The bank provides lockbox services, including payment processing and deposit of funds into the City's bank account. • The proposer must maintain a mature, formally governed cybersecurity and information security program to protect against cyber-enabled fraud, account takeover, data breaches, ransomware, and unauthorized transactions. • The proposer must provide evidence of insurance coverage, including commercial general liability, workers' compensation, and cyber liability. • The City reserves the right to reject any and all proposals, and to waive minor informalities.