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Flatonia ISD to seek bank bids after local bank acquisitions
Summary
Business manager told trustees Flatonia National Bank was taken over by Cadence Bank, which is being acquired by Huntington; the board approved soliciting depository bids via RFP and sealed bid processes to determine the best banking partner.
The Flatonia ISD board voted Feb. 12 to solicit bids for a depository contract after administration reported ongoing bank ownership changes. Business Manager Rodney Stryk told trustees that Flatonia National Bank was taken over by Cadence Bank and that Cadence is being acquired by Huntington; he said the bank "is offering to let the district out of our current contract," and recommended the district request competitive bids.
Trustees approved using an RFP and sealed-bid process to evaluate depository offers so the district can select the best option for banking services. Blanca Villanueva made the motion to solicit bids, Christina Manzano seconded, and the motion passed 5–0.
