Philadelphia Regional Port Authority Awards Financial Services Contract to First Trust Bank (August 2026)

The Philadelphia Regional Port Authority approved up to $18 million in financing with First Trust Bank to fund acquisition of its new Headquarters and Maritime Complex at 5101 and 5115R South Broad Street. The Board authorized selection between two balloon loan structures and use of $5 million in equity toward the purchase.

Scope & details

The full contract record, as filed.

Contract amount

$18MM

Contract type

FINANCIAL_SERVICES

Contract term

Either 5-year balloon / 25-year amortization at 5.90% or 7-year balloon / 25-year amortization at 6.50%

Renewal

Loan structures include balloon payments with 25-year amortization; future refinancing or renewal not specified and will depend on market conditions at balloon maturity.

Document type

AgendaPacket

Source document

Philadelphia Regional Port Authority AgendaPacket 2026-08-19

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Philadelphia Regional Port Authority?

First Trust Bank was awarded this financial services contract by Philadelphia Regional Port Authority, as recorded on August 19, 2026. The contract value is $18MM.

How much is the First Trust Bank contract with Philadelphia Regional Port Authority worth?

The First Trust Bank contract with Philadelphia Regional Port Authority is valued at $18MM, 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 Philadelphia Regional Port Authority AgendaPacket 2026-08-19 (AgendaPacket), dated August 19, 2026 from Philadelphia Regional Port Authority. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does First Trust Bank hold?

First Trust 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 Trust Bank's profile

What is Philadelphia Regional Port Authority currently buying?

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