Wylie ISD board names First Financial Bank as district depository

Wylie ISD trustees voted to name First Financial Bank as the district’s depository for the 2025–26 and 2026–27 school years, following a competitive solicitation and staff evaluation.

School staff told the board four banks responded to the solicitation — Clear Fork, First Bank of Texas, First Financial Bank and Prosperity Bank — and that a rubric developed by district staff produced the winning score for First Financial. The board approved the recommendation by voice vote with no recorded opposition.

The decision matters because the district will transfer treasury and depository services to a new institution, a process staff said will require transition work by both district and bank personnel. “We were the successor for the depository agreement and contract,” Marilyn Shed, CEO of First Financial Bank in Abilene, told the board, thanking district staff and saying the bank and its local team were “so thrilled to have this opportunity.”

Catherine, a district staff member who prepared the solicitation materials, told trustees she used a rubric to evaluate proposals and that First Financial scored highest. Board members noted a change in depository requires administrative work; staff said First Financial would provide treasury management support to ease the transition.

Trustees and staff also acknowledged Prosperity Bank’s prior long service to the district. No public concerns or objections to the selection were recorded during the meeting.

Implementation steps discussed include administrative coordination and handoff of accounts; staff said the bank’s treasury managers will assist in making the transition smooth.