Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Council to move funds to First Bank; accepts May 2026 financial report
Summary
Councilmember James Richard said the town will move funds from Truist to First Bank to receive interest; the council unanimously accepted the May 2026 Financial Report.
Councilmember James Richard told the council that the Town of Reidville will move funds from Truist to First Bank, saying First Bank will offer an interest percentage the town considered preferable while fees remain comparable.
Following the update, Mayor Josh Simpson moved and Councilmember James Richard seconded a motion to accept the May 2026 Financial Report; the council approved the report unanimously.
No specific interest rate or dollar amounts were disclosed in the meeting minutes.
