FINANCIAL_SERVICESONGOING

City holds $11M in fixed deposits at People’s Bank

Newton’s June 30, 2026 portfolio includes $11 million in 365-day fixed-rate deposits with People’s Bank and Trust at 3.90%, with staggered maturities in late 2026 and mid-2027. These investments support the City’s laddered fixed-income strategy.

Status
ONGOING
Document date
July 28, 2026
Contract type
FINANCIAL_SERVICES
Vendor
People's Bank and Trust
Agency
Town of Newton · KS

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
$11,000,000.00
Contract type
FINANCIAL_SERVICES
Contract term
Two 365-day fixed-rate positions maturing 2026-09-18 and two maturing 2027-06-15
Renewal date
2027-06-15
Renewal
Upon their respective 365-day maturities, the City may roll over, redeem, or reallocate these fixed-rate deposits under its investment policy.
Document type
AgendaPacket
Source document
City of Newton AgendaPacket Regular Commission Meeting 2026-07-28

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Town of Newton?

People's Bank and Trust was awarded this financial services contract by Town of Newton, as recorded on July 28, 2026. The contract value is $11,000,000.00.

How much is the People's Bank and Trust contract with Town of Newton worth?

The People's Bank and Trust contract with Town of Newton is valued at $11,000,000.00, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in City of Newton AgendaPacket Regular Commission Meeting 2026-07-28 (AgendaPacket), dated July 28, 2026 from Town of Newton. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does People's Bank and Trust hold?

People's Bank and Trust may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View People's Bank and Trust's profile

What is Town of Newton currently buying?

Explore Town of Newton's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View Town of Newton's profile

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