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County officials weigh moving investments from LGIP to local bank; evaluate PMA, Prevail
Summary
The treasurer reported shifting funds from the LGIP into 1 Community Bank and said staff are evaluating whether to close a Prevail account and whether to invest more with PMA; supervisors asked about checking other local banks.
Adams County officials discussed the county's investment strategy and whether to shift funds among local banks and pooled investment accounts.
The treasurer said the county moved the majority of an LGIP balance into 1 Community Bank and is evaluating the Prevail account, which had offered higher yields earlier but has fallen behind recently. The treasurer said they are likely to close the Prevail account unless better terms are offered and that she and Finance Director Kyle are discussing whether to move funds entirely into 1 Community Bank or split amounts into the county's long‑term investment (PMA) account.
Finance Director Kyle described a laddered approach to PMA investments and cited two CDs previously purchased that retain higher fixed rates: one maturing in a week at 4.791% and another maturing in about two weeks at 5.207%. Kyle said those holdings mitigate the county's exposure to shorter‑term interest‑rate fluctuations at local banks.
The treasurer said she had contacted Prevail and that Prevail's best offer was “5 basis points over Fed,” which the treasurer characterized as roughly 4.5%. She also said she would contact BMO and Royal Bank for rate comparisons and that she prefers keeping deposits local when rates are competitive, noting 1 Community Bank has matched or exceeded competitor offers in other contexts.
Supervisors asked whether the county will use conservative interest estimates when setting the 2026 budget; the treasurer said revenues are budgeted conservatively to reduce downside risk.
No formal action was taken; supervisors directed staff to continue evaluating options.
