City of Castlewood AgendaPacket Meeting Agenda 2026-06-08
City Reviews First PREMIER Bank CD Renewal Option
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Description
The City of Castlewood’s $500,000 CD with First PREMIER Bank matures June 10, 2026, with an option to renew for another seven months. Renewal details will be determined upon maturity.
Contract Details
Contract Amount
$500,000.00 (original issue); $511,339.04 (current balance)
Vendor
FIRST PREMIER BANK
Agency
Town of Castlewood, SD
Contract Type
FINANCIAL_SERVICES
Document Date
June 8, 2026
Contract Term
7 months (Original: 11/10/25 – 6/10/26); may renew for another 7 months (to 1/10/27)
Renewal Date
2026-06-10
Renewal Info
If renewed, CD will mature on 1/10/27; interest rate to be determined at renewal.
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