Capital Financing Recommended with First Community Bank

Scope & details

The full contract record, as filed.

Contract amount

$1,000,000 (principal) at 4.299% interest with $500 loan origination fee

Contract type

FINANCIAL_SERVICES

Contract term

60-month amortization; first semi-annual payment in FY 2026-2027; may be prepaid at any time without penalty

Renewal

Single 60‑month financing arrangement with semi-annual payments and no prepayment penalty; no renewals specified.

Document type

Agenda

Source document

city-of-galena-regular-city-council-meeting-agenda-october-27-2025_a54.pdf

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City of Galena Council Meeting Minutes April 2026

AWARDED

City of Galena, IllinoisInterest rate 4.29%, $1,500 loan origination fee, total payments $2,024,448Apr 13, 2026

Guilford Township Board Meeting Minutes November 2025

RENEWED

Town of Guilford, Illinois$676,490.83 in principal across three CDsNov 10, 2025

city_council_minutes_october_27_2025.pdf

approved

City of Galena, IllinoisNAOct 27, 2025

City of Galena Council Agenda October 2025

pending

City of Galena, IllinoisNAOct 27, 2025

Guilford Township Board Meeting Minutes April 2025

RENEWED

Town of Guilford, Illinois$643,000 principal, 4.23% APYApr 8, 2025

Frequently asked questions

Common questions about this contract, answered from the record.

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

First Community Bank of Galena was awarded this financial services contract by City of Galena, as recorded on October 27, 2025. The contract value is $1,000,000 (principal) at 4.299% interest with $500 loan origination fee.

How much is the First Community Bank of Galena contract with City of Galena worth?

The First Community Bank of Galena contract with City of Galena is valued at $1,000,000 (principal) at 4.299% interest with $500 loan origination fee, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agenda record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in city-of-galena-regular-city-council-meeting-agenda-october-27-2025_a54.pdf (Agenda), dated October 27, 2025 from City of Galena. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does First Community Bank of Galena hold?

First Community Bank of Galena may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View First Community Bank of Galena's profile

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