FINANCIAL_SERVICESAPPROVED

Southampton County Awards Financial Services Contract to Farmer's Bank (April 2023)

Southampton County Board of Supervisors approved a $1,540,000 land acquisition financing contract with Farmer’s Bank at a 4.2% fixed rate for 10 years, following a competitive bid process. The resolution passed unanimously.

Status
APPROVED
Document date
April 25, 2023
Contract type
FINANCIAL_SERVICES
Vendor
Farmer's Bank
Agency
Southampton County · VA

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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
$1,540,000 at 4.2%, plus bank fees not to exceed $5,000
Contract type
FINANCIAL_SERVICES
Contract term
10-year maturity (Option B)
Renewal date
2033-05-19
Renewal
Loan can be prepaid without penalty after 180 days. Bank now acquired by Towne Bank. Option B (10-year maturity) chosen over five-year alternative. Competitive RFP used.
Document type
Minutes
Source document
Southampton County Board of Supervisors Meeting Minutes April 2023

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Southampton County?

Farmer's Bank was awarded this financial services contract by Southampton County, as recorded on April 25, 2023. The contract value is $1,540,000 at 4.2%, plus bank fees not to exceed $5,000.

How much is the Farmer's Bank contract with Southampton County worth?

The Farmer's Bank contract with Southampton County is valued at $1,540,000 at 4.2%, plus bank fees not to exceed $5,000, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in Southampton County Board of Supervisors Meeting Minutes April 2023 (Minutes), dated April 25, 2023 from Southampton County. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Farmer's Bank hold?

Farmer's Bank 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 Farmer's Bank's profile

What is Southampton County currently buying?

Explore Southampton County's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View Southampton County's profile

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