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Council approves TFNB as city depository after ValleyView review
Summary
After a presentation by ValleyView Consulting, the Robinson council voted to award the five‑year depository services contract to TFNB (First National Bank of MacGregor) and authorized the city manager to execute contracts; consultants recommended a 2‑year initial term with one‑year renewals and a March 1, 2026 start date.
The City of Robinson voted to award its depository services contract to TFNB (First National Bank of MacGregor) following a comprehensive selection process led by ValleyView Consulting.
ValleyView consultant Kenan Pena explained that state code (chapter 105) requires cities to conduct a depository selection process every five years. The firm expanded the search to banks within a 15‑mile radius, hosted a nonmandatory preproposal call attended by seven banks, and received five formal responses. Consulting analysis weighed fees, indexed interest rate offers and service, and factored in the city’s average balance (roughly $7.4 million over the previous 12 months).
Pena recommended TFNB because it offered a local government investment pool–indexed rate (text pool) with no fees, producing the highest net return in ValleyView’s five‑year comparison. "TFNB is the best return overall," Pena told the council, citing no-fee offers from some banks and the indexed-rate structure as favorable. Staff reported satisfaction with TFNB’s responsiveness and service.
City council then moved on a resolution to award the contract (resolution 2025‑13‑11). The council passed the resolution on a voice vote; staff said the initial agreement would begin March 1, 2026, with an initial two‑year term and three one‑year renewal options to protect the city if service levels change due to bank consolidations or acquisitions.
The report and the resolution were presented publicly to show transparency in a process that yielded multiple responses; the consultant and staff said the recommendation reflected both financial returns and service history rather than convenience alone.
