City of South Gate Agenda Item No. 19 2026-05-26
South Gate Legacy Banking Contract with Bank of the West Extended
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Description
The City of South Gate previously held Contract No. 3218 with Bank of the West for primary banking services, approved in 2016 for a five-year term with renewal options. Following acquisition by BMO Bank, N.A., the contract was amended multiple times to exercise renewal options and extend service through June 30, 2026, bridging operations until completion of a new banking RFP.
Contract Details
Vendor
BANK OF THE WEST
Agency
City of South Gate, CA
Contract Type
FINANCIAL_SERVICES
Document Date
May 26, 2026
Contract Term
Initial five (5) years from May 24, 2016, with up to five (5) one-year renewal options; ultimately extended through June 30, 2026 via Amendments Nos. 1-3 and a subsequent six-month extension
Renewal Date
2026-06-30
Renewal Info
Initial term began May 24, 2016, with up to five one-year renewal options. Amendments Nos. 1–3 exercised available renewals, extending the term through December 31, 2025. A subsequent six-month extension further extended the term through June 30, 2026, to align with the new procurement. The contract is expected to end when the new BMO Bank, N.A. agreement is fully implemented.
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