Village of Gambier Agenda Packet 2026-05-04
Village Evaluates Park National CDARS Maturity Options
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Description
Park National Bank manages the Village of Gambier’s CDARS deposit, projected to pay out $344,569.26 at its May 7, 2026 maturity. Village staff are considering transferring the proceeds into the bank’s wealth management account to seek higher net returns despite advisory fees.
Contract Details
Contract Amount
$344,569.26 (projected CDARS payout)
Vendor
PARK NATIONAL BANK
Agency
Gambier village, OH
Contract Type
FINANCIAL_SERVICES
Document Date
May 4, 2026
Contract Term
CDARS CD maturing May 7, 2026; Wealth management account ongoing
Renewal Date
2026-05-07
Renewal Info
Options include reinvesting CDARS at new terms (4–156 weeks at 1.75–2.25% APY) or transferring to the existing wealth management account; no decision recorded yet.
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