Banking Services
| Location: | South Carolina |
|---|---|
| Posted: | Apr 14, 2026 |
| Due: | May 22, 2026 |
| Agency: | Irmo town |
| Type of Government: | State & Local |
| Category: |
|
| Publication URL: | To access bid details, please log in. |
Banking Services
The Town of Irmo invites qualified financial institutions to submit proposals to provide banking services to the Town based upon the scope of work contained in this Request for Proposals.
The Town seeks to obtain a financial institution to administer the Town’s general banking, deposit and custody operations in order to further the following objectives: streamline cash handling, enhance funds availability, increase use of technology to reduce costs and become more efficient at treasury management.
The Town’s intent is to select a financial institution to provide the requested services listed within the following scope of work. Our goal is to consolidate all services into one institution. The scope of work may include, but is not limited to, general account services, information reporting, reconciliation, electronic fund transfers, positive pay, controlled disbursement, returned items processing, image capture, investment services, electronic receipt and payment platforms and credit cards for Town purchases. The Town expects the successful financial institution to review interest rates and Earnings Credit Rates available to the Town at least once per quarter.
The Town of Irmo invites proposals until 4:00 pm EST, May 22, 2026, from qualified banks.
Please click HERE for the RFP
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Town of Irmo, South Carolina
Request for Proposal
Banking Services RFP
RFP Issue Date:
RFP Contact:
(for any questions or
requests for clarification)
Send Proposals to:
RFP Closing Date and Time:
Number of Proposal Copies Requested:
April 13, 2026
Lisa Hancock
Finance Director
lhancock@townofirmosc.com
Town of Irmo
Banking Services RFP
Lisa Hancock, Finance Director
7300 Woodrow Street
Irmo, SC 29063
May 22, 2026 by 4:00pm
3 Individually Sealed and Labeled #1, #2 and #3
or submitted electronically
RFP Evaluation Committee:
Jim Crosland
Town Administrator
Doug Polen
Deputy Town Administrator
Lisa Hancock
Finance Director
1|Page Town of Irmo | RFP for Banking Services
Table of Contents
General Information.......................................................................................................................................... 4
Introduction ................................................................................................................................................... 4
Background and Overview ............................................................................................................................ 4
Questions and Answers................................................................................................................................. 4
Requirements for Selection........................................................................................................................... 5
General Proposal Requirements ................................................................................................................... 5
Collateralization of Public Funds................................................................................................................... 5
Contract Award.............................................................................................................................................. 6
Term of Award ............................................................................................................................................... 6
Termination ................................................................................................................................................... 7
Freedom of Information Act ......................................................................................................................... 7
RFP Submission Information ............................................................................................................................. 7
Schedule......................................................................................................................................................... 7
Intent to Propose........................................................................................................................................... 7
Submission Instructions ................................................................................................................................ 8
Criteria for Evaluation ................................................................................................................................... 8
Competency of Proposer............................................................................................................................... 8
Withdrawal of Proposal ................................................................................................................................ 8
Proposal Errors .............................................................................................................................................. 8
Late Proposals; Misrepresentations ............................................................................................................. 9
Incurred Cost.................................................................................................................................................. 9
Return of Proposals ....................................................................................................................................... 9
Reserved Rights ............................................................................................................................................. 9
Scope of Work.................................................................................................................................................... 9
Minimum Bank Qualifications ...................................................................................................................... 9
Overview of Required Services ................................................................................................................... 10
Form I (Required): Qualifications and Experience...................................................................................... 12
Form II (Required): Key Proposed Personnel and Team ............................................................................ 12
2|Page Town of Irmo | RFP for Banking Services
Form III (Required): Subcontractors ........................................................................................................... 13
Form V (Required): Employee Banking....................................................................................................... 13
Attachment 1 (Not Required): Notice of Intent to Respond...................................................................... 14
Cost Proposal 1: General Banking Services Only ........................................................................................ 15
3|Page Town of Irmo | RFP for Banking Services
General Information
Introduction
The Town of Irmo invites qualified financial institutions to submit proposals to provide banking services to
the Town based upon the scope of work contained in this Request for Proposals.
The Town seeks to obtain a financial institution to administer the Town’s general banking, deposit and
custody operations in order to further the following objectives: streamline cash handling, enhance funds
availability, increase use of technology to reduce costs and become more efficient at treasury management.
The Town’s intent is to select a financial institution to provide the requested services listed within the
following scope of work. Our goal is to consolidate all services into one institution. The scope of work may
include, but is not limited to, general account services, information reporting, reconciliation, electronic fund
transfers, positive pay, controlled disbursement, returned items processing, image capture, investment
services, electronic receipt and payment platforms and credit cards for Town purchases. The Town expects
the successful financial institution to review interest rates and Earnings Credit Rates available to the Town
at least once per quarter.
The Town of Irmo invites proposals until 4:00 pm EST, May 22, 2026, from qualified banks.
Point of Contact:
Lisa Hancock
lhancock@townofirmosc.com
7300 Woodrow Street
Irmo, SC 29063
The Town reserves the right to reject any and all proposals, to waive any informalities or irregularities and
to make the selection among the proposals as are deemed in the best interest of the Town. The Town is not
liable for any costs incurred to prepare or present a response to this Request for Proposal (RFP).
Background and Overview
The Town of Irmo is a premier suburban municipality located in the South Carolina Midlands, approximately
10 miles northwest of the state capital, Columbia. Established in 1890 at the intersection of the Columbia,
Newberry, and Laurens Railroad, the town’s name is a portmanteau honoring railroad officials Iredell and
Moseley. Deeply rooted in the historic "Dutch Fork" region—an area settled by German and Swiss-German
immigrants in the 18th century—Irmo has evolved from a quiet railroad stop into a thriving community
known as the "Gateway to Lake Murray."
Geographically, the town spans approximately 7 square miles and is uniquely situated across both
Lexington and Richland Counties. This strategic position along the I-26 corridor provides unparalleled
regional connectivity, linking the town to major economic hubs while maintaining a distinct community
character.
Culturally, Irmo is defined by a "small-town" spirit that belies its sophisticated growth. It is home to the
world-renowned Irmo Okra Strut, a festival that has celebrated the town's heritage for over 50 years and
4|Page Town of Irmo | RFP for Banking Services
draws nearly 25,000 visitors annually. This blend of historic preservation and modern suburban appeal
makes Irmo a focal point for residential stability and commercial innovation in the Midlands
Questions and Answers
Questions must be submitted by 4:00 pm on May 1, 2026. Questions submitted later will not be answered.
Any correction, revision, answer, or clarification of the RFP documents will be made only by a written
addendum (if something in the RFP is changed) or a Clarifications / Answers document (if nothing in the RFP
is changed) issued by the Finance Director or her designee.
Requirements for Selection
The Town seeks proposals from qualified providers interested in providing comprehensive banking services
for the Town. The objective of the Town is to secure the most efficient and effective banking services while
maintaining sufficient liquidity and protection of all the funds entrusted to the Town.
The Town may award a contract to the best service provider(s) with innovative ideas, which may not be the
lowest price proposal. The Town reserves the right not to award some or all of the services contemplated
herein.
General Proposal Requirements
It is requested that proposals be prepared in a comprehensive manner as to content. Although permissible,
there is no necessity for expensive binders, color displays or other promotional material. The proposal
should be prepared in a format that will permit ready identification of your response to each component of
this RFP in a concise manner.
The proposal must be signed by the duly authorized partner or officer who will have overall responsibility
for work under the proposal.
All pricing proposals must remain in effect for at least one hundred twenty (120) days beginning the next
business day after the proposals are due to the Town. The Town is not responsible for any costs incurred in
the preparations and presentation of your proposal.
The selected proposer will be expected to enter into a contract or engagement letter with the Town in a
form acceptable to the Town.
The Town reserves the right to negotiate interest rates and yields for any type of investment alternative
with any other institution at any time.
Collateralization of Public Funds
All deposited funds beyond the limits of FDIC coverage must be one hundred percent (100%) collateralized
by federal, state, or municipal securities consistent with the South Carolina State Code of Laws governing
municipalities.
5|Page Town of Irmo | RFP for Banking Services
This is the opportunity summary page. It provides an overview of this opportunity and a preview of the attached documentation.
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