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Board told local bank branch will close; staff to review options with First Harrison Bank
Summary
A board member reported the local bank branch will close between now and May; staff said it contacted First Harrison Bank to explore moving or opening municipal accounts and the board will review options at a future meeting.
A board member informed the group that the local bank branch is slated to close between now and May and that staff contacted First Harrison Bank to explore moving accounts or establishing a secondary banking option.
Staff said they were not recommending an immediate, wholesale transfer of municipality funds but suggested having a second option available. Members agreed to review First Harrison Bank's proposal and discuss next steps at a later meeting; no transfers or formal banking actions were taken at the meeting.
Staff noted the possibility that Lville branch staff might be reassigned to another branch and emphasized that the board should advertise and deliberate any change in banking arrangements before acting.
