FINANCIAL_SERVICESONGOING

City Holds $4.7 Million CD at Malaga Bank

The City reported $4.7 million invested with Malaga Bank in July 2026. The funds were held in a non-negotiable certificate of deposit with a 36-month term and a maturity date in August 2027.

Document date · September 1, 2026

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WithersRavenel logo
Derivita logo
Comcate logo
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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
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Scope & details

The full contract record, as filed.

Contract amount
$4.7 million
Contract type
FINANCIAL_SERVICES
Contract term
36 Mos (CD)
Renewal date
2027-08-31
Renewal
Non-negotiable CD investment with Malaga Bank. Acquisition term is 36 months and maturity is listed as 08/31/27.
Document type
StaffReport
Source document
City of Rancho Palos Verdes StaffReport July 2026 Cash Balances and Monthly Treasurer's Report 2026-09-01

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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 Rancho Palos Verdes?

Malaga Bank was awarded this financial services contract by City of Rancho Palos Verdes, as recorded on September 1, 2026. The contract value is $4.7 million.

How much is the Malaga Bank contract with City of Rancho Palos Verdes worth?

The Malaga Bank contract with City of Rancho Palos Verdes is valued at $4.7 million, covering financial services work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in City of Rancho Palos Verdes StaffReport July 2026 Cash Balances and Monthly Treasurer's Report 2026-09-01 (StaffReport), dated September 1, 2026 from City of Rancho Palos Verdes. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Malaga Bank hold?

Malaga 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.

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What is City of Rancho Palos Verdes currently buying?

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