FINANCIAL_SERVICESAPPROVED

City of Madras Awards $2,400,000 Financial Services Contract to First Interstate Bank (September 2026)

The Madras Redevelopment Commission approved a line of credit extension with First Interstate Bank. The $2,400,000 loan was extended to December 30, 2026 with a variable interest rate of Prime minus 1%.

Document date · September 14, 2026

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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 amount
$2,400,000.00
Contract type
FINANCIAL_SERVICES
Contract term
Through December 30, 2026; prior extension history from 2015 through 2026
Renewal date
2026-12-30
Renewal
This is an extension of an existing loan originally secured under an intergovernmental agreement dated April 14, 2015, as amended. Prior extensions were approved in 2021, 2022, 2023, 2024, 2025, and again in 2026; the current action extends maturity from September 30, 2026 to December 30, 2026 and keeps the rate at Prime minus 1%.
Document type
AgendaPacket
Source document
Madras Redevelopment Commission AgendaPacket September 15 2026

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Frequently asked questions

Common questions about this contract, answered from the record.

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

First Interstate Bank was awarded this financial services contract by City of Madras, as recorded on September 14, 2026. The contract value is $2,400,000.00.

How much is the First Interstate Bank contract with City of Madras worth?

The First Interstate Bank contract with City of Madras is valued at $2,400,000.00, covering financial services work.

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 Madras Redevelopment Commission AgendaPacket September 15 2026 (AgendaPacket), dated September 14, 2026 from City of Madras. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does First Interstate Bank hold?

First Interstate 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 Interstate Bank's profile

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