FINANCIAL_SERVICESDISCUSSED

Council Reviews Alerus Banking Relationship After Audit Finding

The City Council discussed its existing banking relationship with Alerus Bank after a lapse in collateral coverage triggered a material audit finding. While no financial loss occurred, Alerus will be evaluated alongside other institutions in a forthcoming municipal banking RFP.

Status
DISCUSSED
Document date
April 6, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Alerus Bank
Agency
City of Deephaven · MN

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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 type
FINANCIAL_SERVICES
Renewal
Existing banking relationship will be competitively evaluated through an upcoming municipal banking RFP; Alerus Bank will be allowed to submit a proposal.
Document type
Minutes
Source document
Deephaven City Council Workshop Minutes April 2026

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Deephaven?

Alerus Bank was awarded this financial services contract by City of Deephaven, as recorded on April 6, 2026.

What type of contract is this?

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

Where was this contract approved?

This contract appears in Deephaven City Council Workshop Minutes April 2026 (Minutes), dated April 6, 2026 from City of Deephaven. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Alerus Bank hold?

Alerus 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.

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