Council approves two‑year depository contract with TFNB after Valley View review

Robinson — After a consultant presentation and a short council exchange, the City Council approved a resolution awarding the city’s depository services contract to the incumbent bank, TFNB (First National Bank of MacGregor), and authorized the city manager to execute the contract.

Valley View Consulting presented the required five‑year depository selection process and the evaluation criteria the city used, citing Chapter 105 (governing the process), the Public Funds Investment Act and collateral requirements. Consultant Kenan Pena told the council the evaluation expanded the search outside city limits to increase competition, received five responses, and ranked bidders by overall return once fees and indexed rates were accounted for.

Pena said TFNB’s proposal offered a competitive indexed (TexPool‑linked) rate and waived fees, which produced the highest net return in the firm’s five‑year comparison. Pena told the council TFNB had “proven themselves” as an attentive banking partner to city staff and recommended renewing with an initial two‑year term with up to three one‑year renewals to preserve an exit option.

After the presentation, a council member moved to act on the resolution (referred to in the meeting as resolution 2025‑13‑11 award). The motion was seconded and the council voted in favor. The contract will begin an initial term starting 2026‑03‑01, per the consultant’s schedule.

Next steps: the city manager is authorized to execute the depository contract; staff will monitor service levels and the city retains a contractual opt‑out process in the recommended term structure in case of bank ownership or service changes.

The Valley View summary and scoring were provided to council members; a fuller written report is available in the meeting packet for those seeking detailed rate and fee comparisons.