CONTRACTONGOING

City Invests in First Source Bank CD

Disclosed value: $249,000.00 par value; From report
Document date: Jun 30, 2025

What it covers

The City of Palo Alto invested in a $249,000 negotiable certificate of deposit with First Source Bank at 5.050% as of June 16, 2025. The CD is safekept by U.S. Bank within the City's diversified investment portfolio.

Who holds it

First Source Bank holds this financial services contract with City of Palo Alto. Its other public contracts on record include work for Town of Hebron and City of Elkhart.

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Contract details

Contract type: Financial Services
Amount: $249,000.00 par value
Document date: June 30, 2025
Vendor: First Source Bank
Agency: City of Palo Alto
Source document: city_of_palo_alto_monthly_investment_activity_repo.pdf (Report)

First Source Bank's other public contracts

Town of Hebron, IndianaHRC Approves First Source Bank Fire Station Payment · Jul 6, 2026$16.8K City of Elkhart, IndianaTravel and Training Card Expenses via First Source Bank · Apr 28, 2026Undisclosed Town of Galien, MichiganFirst Source Bank Added as Township Depository · Apr 9, 2026Undisclosed City of Valparaiso, IndianaCity Pursues Amphitheater Naming Rights Deal · Mar 23, 2026Undisclosed Town of Pavilion, MichiganFirst Source Bank Approved as Township Depository · Mar 9, 2026Undisclosed All First Source Bank contractsVendor profile

More City of Palo Alto contracts

Palo Alto Community Child CareChild Care Partnership Letter of Intent Proposed with Palo Alto · Oct 22, 2026Undisclosed Packet FusionPacket Fusion Zoom Government Purchase Orders Proposed · Oct 22, 2026 Palo Alto Community Child CarePalo Alto Approves Child Care Partnership Letter of Intent · Oct 22, 2026Undisclosed Packet FusionPalo Alto Approves $1.2 Million Zoom Government Procurement · Oct 22, 2026 Jones Hall LLPJones Hall Serves as Bond Counsel for Palo Alto Financing · Oct 20, 2026 All City of Palo Alto activityAgency profile

Questions about this contract

Who was awarded the financial services contract by City of Palo Alto?

First Source Bank was awarded this financial services contract by City of Palo Alto, as recorded on June 30, 2025. The contract value is $249,000.00 par value.

How much is the First Source Bank contract with City of Palo Alto worth?

The First Source Bank contract with City of Palo Alto is valued at $249,000.00 par value, covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in city_of_palo_alto_monthly_investment_activity_repo.pdf (Report), dated June 30, 2025 from City of Palo Alto. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does First Source Bank hold?

First Source 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.

What is City of Palo Alto currently buying?

Explore City of Palo Alto's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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