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Awarded contract·Yellowstone County·Montana

Comprehensive Banking Services

$2.5MSingle Award
Contract source

Description

This solicitation seeks a single banking institution to provide full‑service banking for Yellowstone County, covering custodial fund management, daily sweep investments, check processing, ACH, wire transfers, online banking, positive‑pay, reporting, and related services. The County requires an FDIC‑insured bank with local presence, technology integration to its School ERP Pro system, and the ability to secure deposits above FDIC limits. Evaluation will be based on operational capability (40 pts), transition experience (20 pts), and fee schedule (40 pts); the highest total score wins, not necessarily the lowest cost. The contract runs for five years starting Dec 1 2026, with a potential mutually‑agreed extension, and fees are fixed for the first three years.

Attached files

Key dates

Bids closed
3/2/2026
Contract modified
12/13/2025
Starts
12/1/2026
Ends
11/30/2031Renews
Duration
5 years

Last updated

Details

Award type
Single Award
Procurement
Full and Open Competition
Industry
Financial Services
NAICS
522110

Contract value

$2,500,000

The RFP does not disclose a dollar value. To estimate, consider the County’s average collected balance of $19 M (historical) with an estimated $9 M annual sweep, plus roughly 7,500 checks per month, 1,750 ACH transactions, and numerous wire transfers. Assuming typical commercial‑bank fee structures (e.g., 0.10 % of sweep balance, $0.25 per check, $0.10 per ACH, $15 per domestic wire, $30 per international wire) yields an annual fee estimate of roughly $500,000–$600,000. Over a five‑year term this approximates $2.5 million to $3 million. Additional transition incentives or optional services could raise the total, but a ball‑park figure of $2.5 million is reasonable.

AI estimate from the award documents

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