City of Alma Commission Meeting Agenda Packet February 2026
$518,948 CDARS Investment Ratified with Mercantile Bank
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Description
Alma Commission ratified a $518,948, 6-month CDARS investment at Mercantile Bank, at 3.45% interest.
Contract Details
Contract Amount
$518,948
Vendor
MERCANTILE BANK
Agency
City of Alma, MI
Contract Type
FINANCIAL_SERVICES
Document Date
February 24, 2026
Contract Term
2/18/2026 – 8/19/2026 (CDARS, 6 months)
Renewal Date
2026-08-19
Renewal Info
Investment subject to renewal or reinvestment at maturity per city policy.
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