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Treasurer’s office-recommended banks designated as state depositories by board
Summary
The board approved designation of Barksdale Federal Credit Union and Currency Bank as state depository fiscal agents after the State Treasurer’s Office reviewed applications and financial ratios.
The Interim Emergency Board approved the designation of Barksdale Federal Credit Union and Currency Bank as state depository fiscal agents for the four-year period running July 1 to June 30, following a recommendation from the State Treasurer’s Office.
A staff member explained that the State Treasurer’s Office received applications from financial institutions, analyzed key financial ratios, and recommended both institutions for approval as state depositories and fiscal agents. The board asked no questions and approved the designations without objection.
Miss O’Connor was present on behalf of Treasurer Fleming; the staff presentation noted the Treasury performed the review and recommended approval. The board’s approval permits those institutions to serve as state depositories under the terms and period described; the transcript did not include contract or program details, specific financial ratios or citation to the statutory authority for designation.
