2026:19 RFP Banking Depository Services

The City of Jonesboro, Arkansas is seeking proposals from eligible financial institutions to act as the City's Depository institution for an initial period of twelve months, with the option to renew for two additional twelve-month periods. The selected institution will provide depository and banking services to the City, including handling deposit accounts, providing online treasury/cash management services, and offering other banking services as needed. The proposal should include information about the institution's ability to provide these services, its financial strength and stability, and its experience in working with public agencies. The City will evaluate proposals based on the least total cost to the City, as well as the quality of service and the institution's ability to meet the City's needs. Some key services that the City is looking for include: • Interest-bearing accounts with monthly interest crediting • Online access to account information and statements • Electronic funds transfer and ACH services • Investment services, including certificates of deposit • Cash management and treasury services • Security measures to protect the City's assets, including FDIC insurance and collateralization of deposits • Customer service and support, including a dedicated account manager and 24/7 support.