Awarded vendors
- Texas National Bank
Description
Cameron County, Texas issued a competitive solicitation (RFP # 1222) to select a “County Managing Bank” that would provide a full suite of depository and cash‑management services for all county funds. The scope encompasses deposit processing, lock‑box, positive‑pay, vault, armored‑car, coin handling, electronic funds transfer, ACH, wire services, online reporting, and investment/collateral management, with strict collateral requirements (≥ 105 % of deposits in A‑rated Texas municipal bonds or a U.S. letter of credit). The County requires a good‑faith guarantee of $1,051,308 and mandates compliance with Texas public‑funds statutes, security, and anti‑boycott certifications. Two banks submitted proposals; Texas National Bank won with a marginally higher evaluation score. The contract is structured for a two‑year base term (with a four‑year option) and includes an optional one‑year renewal, subject to funding availability and price‑increase notifications.