Raleigh City Council Minutes 2026-04-21
Raleigh extends PNC Bank banking services contract
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Description
Raleigh extended its banking services contract with PNC Bank, N.A. through April 30, 2031, with an option for month-to-month renewals through April 30, 2032, under Amendment No. 1 capped at $1,650,000. The amendment maintains existing rates subject to annual budget appropriations.
Contract Details
Contract Amount
Not-to-exceed amendment amount of $1,650,000
Vendor
PNC BANK N.A.
Agency
Raleigh Water, NC
Contract Type
FINANCIAL_SERVICES
Document Date
April 21, 2026
Contract Term
Extension through April 30, 2031 with option for month-to-month renewals up to one year through April 30, 2032
Renewal Date
2032-04-30
Renewal Info
Final five-year renewal option exercised through April 30, 2031, plus added authority for month-to-month extensions up to one year through April 30, 2032 at the same rates.
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