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Maverick Bank wins Brewster County depository bid after presentations and scoring
Summary
After presentations from three banks and scoring by court members and finance staff, the court awarded the county depository contract to Maverick Bank based on pledging of securities, competitive interest on deposits and treasury management services including positive‑pay fraud protections.
The court heard formal pitches from three banks seeking the county depository contract. West Texas National presented an 85% of the 13‑week treasury bill option and pledged securities approach; Maverick Bank offered 90% of the 182‑day treasury bill (adjusted quarterly), large pledged collateral capacity and a non‑fee positive‑pay fraud product; TransPecos Bank (Transfeca) described multiple collateralization approaches including pledging bonds, FHLB letters of credit and IntraFi/CDARS alternatives.
Michael Eisenwine, Maverick Bank's Big Bend regional president, explained the bank's collateral monitoring and reporting, the availability of pledged securities to secure deposits, and a positive‑pay fraud tool the bank provides at no cost to contract customers. "If you issue checks, I recommend you get positive pay," Eisenwine said, adding Maverick would provide local treasury management support and electronic statements with truncated check images.
After a short recess to tabulate scores from seven reviewers (five commissioners plus two members of finance staff), the court announced Maverick Bank as the winning bid based on the scoring criteria (ability to pledge securities, interest rates, service requirements, cost of services and cash‑management products). The judge thanked the banks for their proposals and noted staff will complete contract documents and onboarding steps.
