FINANCIAL_SERVICESAPPROVED

Town of Madison Awards Financial Services Contract to First Bank (June 2026)

Madison Board of Aldermen approved First Bank as the Town's new official depository, with all checking and money market funds to be moved per staff recommendation. Approval followed a comparison of proposals from First Bank and First Citizens.

Status
APPROVED
Document date
June 11, 2026
Contract type
FINANCIAL_SERVICES
Vendor
First Bank
Agency
Town of Madison · NC

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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 date
2026-12-31
Renewal
Banking services and rates subject to periodic review and renewal; 3.20% rate effective through December 31, 2026. Rate will adjust with market after that date.
Document type
AgendaPacket
Source document
Madison Board of Aldermen Agenda Packet 2026-06-11

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Town of Madison?

First Bank was awarded this financial services contract by Town of Madison, as recorded on June 11, 2026.

What type of contract is this?

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

Where was this contract approved?

This contract appears in Madison Board of Aldermen Agenda Packet 2026-06-11 (AgendaPacket), dated June 11, 2026 from Town of Madison. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does First Bank hold?

First 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.

View First Bank's profile

What is Town of Madison currently buying?

Explore Town of Madison's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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