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Council names Golden Valley Bank Oroville’s new banking partner; one recusal recorded
Summary
Following an RFP process, city staff recommended Golden Valley Bank; the council approved the selection and authorized immediate transfers, with a 6–0 vote and one recusal.
City staff told the council that an RFP process for banking services had concluded and recommended Golden Valley Bank as the city’s banking partner.
Ruth (city finance staff) said Golden Valley Bank was selected based on its customer service and local presence. Mark Francis, president and CEO of Golden Valley Bank, introduced bank personnel and described the bank as the only locally owned community bank in Butte County.
A councilmember placed a recusal on the record, saying, "I am recusing myself because my wife works for the bank." The council then moved to approve Golden Valley Bank as the city’s banking partner and to authorize the finance director to make any necessary fund transfers effective immediately to Golden Valley Bank. The motion passed with six yes votes and one recusal.
Ending: City staff said they would begin the transition and execute required fund transfers; no additional conditions were listed at the meeting.
