Bank Services RFP

City of Newnan, Georgia RFP for Banking Services
1. Objectives and Bank Account Structure
In our capacity as Financial Advisor to the City of Newnan, Georgia (the "City"), Davenport & Company LLC
("Davenport") is issuing this Request for Proposals (the "RFP") on behalf of the City to solicit proposals from
qualified, experienced, financially sound and responsible financial institutions to provide banking services for
the City. The selected financial institution will assign the City's Master Depository Account, and other accounts
and requirements, to a specialized governmental unit with a dedicated team of experienced staff to service
these accounts. In addition to these accounts, the City also requires a dedicated customer service
representative to be assigned to the City to assist with the day-to-day activity on these accounts.
CITY OF NEWNAN FINANCIAL INFORMATION
Council employs a city manager to manage the daily operations of city government. The City Manager and his
administrative staff prepares the city's annual budget, negotiate intergovernmental agreements, implements
Council's policies, appoints department directors, serves as City liaison to other government agencies, citizens,
businesses and visitors, and supervises all city employees. Administrative staff is based at 25 LaGrange Street
in Newnan. The City currently employs 343 people - organized into five (5) functions: General Government, Public
Safety, Public Works, Community Development and Other Services. Total headcount includes 15 part-time
employees and 7 elected officials. Other city-wide positions appointed by Council include the municipal court
judge, city attorney and assistant municipal court judges. Detailed information regarding the operating budget
and audited financial statements for the City of Newnan may be found on the online website: https//
www.https://www. https://www.newnanga.gov/169/Finance following the link to the Finance Department.
Bank Account Structure:
Proposals are requested for banking services for the City's operating and money market accounts within the
scope of the following descriptions. The City proposes to operate utilizing the following eighteen (18) bank
accounts for the City. These accounts are from March 2026 Analyzed Statements. Please see Chart below:
Account Number 4174 2266 2255 2530 9901 5259 1609 9727 8446
Grant - NSP1 Fund 602 Main Acct -
Grant - Ins Fund - Group
Type Fund Impact Fee Grant - NSP Program Workers SPLOST - 2025 Master SPLOST - 2019
NSP3 Insurance
Income Comp Depository Acct
Interest Bearing YES YES NO YES YES YES YES YES YES
Public Fund Basic Public Basic Public Public Fund Public Fund Public Funds Public Fund
Public Fund Money Public Fund
Account Type - Current Money Rate Funds Funds Money Rate Money Rate Interest Checking Money Rate
Rate Savings Checking
Savings Checking Checking Savings Savings (Main Operating) Savings
*Acct Type Recommendation
Average Balance $ 1,572,668.32 $ 2,670.44 $ 2.10 $ 562,705.10 $ 879,615.59 $ 278,016.76 $ 6,461,882.71 $ 2,813,418.85 $ 5,840,068.62
Account Number 9425 5442 4549 2150 2371 1490 5450 0323 3614
Custodial
Grant - ARP Conf Assets- Grant - Fund
Sanitation - Fund - PD Grant -NSP3
Type Fund Grant - Chip 2021 Fiscal General Fund Other/Local 223 EDI CPF FLOST
Fund 540 Pending Program Inc
Recovery Seizures Grant
Seized
Interest Bearing YES NO YES YES YES YES NO YES YES
Basic Public Public Funds Public Funds Public Funds Public Fund Public Fund
Public Funds Public Fund Money Basic Public Fund
Account Type - Current Fund Interest Interest Interest Money Rate Money Rate
Interest Checking Rate Savings Checking
Checking Checking Checking Checking Savings Savings
*Acct Type Recommendation
Average Balance $ 1,526,613.47 $ - $ 18,413.31 $ 5 5,032.43 $ 1 3,701,153.06 $ 171,442.67 $ 1,456.00 $ 504,418.67 $ 1,816,280.59
*Note: The City is open to changing the designation of these accounts if it is advantageous to the City.
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City of Newnan, Georgia RFP for Banking Services
Description:
To enable the City to have maximum cash availability an account structure as outlined below. The structure will
be comprised of a Master Depository Account, interest bearing public funds checking account, interest bearing
money market accounts and non-interest-bearing accounts. The City is open to financial institutions
recommending different account types if it is advantageous to the City. The City reserves the right to open or
close additional non-interest-bearing public funds accounts, or interest-bearing public funds accounts during
the term of this agreement at no additional cost, should it be deemed necessary.
Depository Account:
The purpose of the concentration account is to concentrate on the City's cash balances for more effective cash
management and investment. All deposits under this agreement shall be made into these concentration
accounts. Funds deposited into these accounts shall be considered as collected as soon as funds are available
to the bank. Incoming and outgoing wire transfers will be made from this account principally for investment in
purchases and sales. This account will be titled Master Depository Account.
Interest - Bearing Public Funds Accounts:
The awarded financial institution will incorporate these new accounts into this system as if they were a part of
the original RFP and will not penalize the City for adding or deleting accounts which are a part of the original
proposal.
Non-Interest-Bearing Public Funds Accounts:
The awarded financial institution will incorporate these new accounts into this system as if they were a part of
the original RFP and will not penalize the City for adding or deleting accounts which are a part of the original
proposal.
Operation of the System:
It is the intent of the City of Newnan to operate the system so that the City's float is eliminated to the maximum
extent possible from all accounts. The accounts that are a part of the system shall be operated in accordance
with the following provisions:
Funds collected by the various departments will be deposited into the appropriate accounts. The City
shall receive credit for all funds when collected funds are available to the financial institution, but
no later than the next business day following receipt of the deposit.
All checks, warrants, and drafts drawn on the awarded Institution and all City checks (U.S., State,
and local) will be deposited into the appropriate account for credit as collected funds on the day of
deposit.
All incoming wire transfers shall be made available for immediate credit.
Transfers between the accounts will be charged to the City only as transfer, not also as items
deposited and checks paid.
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City of Newnan, Georgia RFP for Banking Services
2. Scope of Work
The services required to accommodate the City's current and future needs major service categories are
described below. In the Banking Services Proposal, please describe the financial institution's ability to perform
each Scope of Work. (Response Requirements included Banking Services Proposal Form)
A. Wire Transfers. The successful financial institution shall enter a wire transfer agreement with the City. The
terms of this agreement will be mutually negotiated and agreed upon. Transfers may be in the form of repetitive,
non-repetitive, internal, ACH, or EFT. The bank must be a member of the Federal Reserve System and have direct
wire capabilities. The bank must be a member of an automated clearinghouse association and be in compliance
with all rules and relations set by the National Automated Clearing House Association (NACHA), local ACH
associations, and ACH operators. The City shall have the ability to initiate all types and amounts of wire transfers
electronically. Confirmations of all incoming and outgoing wires will be made available daily by the bank.
The successful financial institution agrees to execute any orders for outgoing wire transfers on a timely basis.
Transfers ordered by noon local time and not received by the destination party by 5:00 p.m. local time that are
reported to the City will be traced by the successful financial institution from origin to destination to ascertain
the party responsible for the delay.
B. Direct Deposit and Payroll System. The City currently outsources payroll processes for approximately 343 full
and part-time/seasonal City employees on a bi-weekly basis City employee are paid on Friday.
C. Tax Payments. Currently the City outsources withholding of tax payments. However, it may in the future utilizes
the Electronic Federal Tax Payment System (EFTPS) for Federal/FICA/Medicare withholding payments and the
State of Georgia's Electronic Tax Payment System for State withholding payments.
D. Positive Pay. The City uses a positive pay system for disbursements and needs continued access to this
security system. Online banking must allow for import of a positive pay file. Positive Pay will need to apply to
both disbursement and sweep investment accounts.
E. Integrated payables services. The City currently does not use third-party check issuance ACH payments, and
virtual credit card payments integrated with the City accounting software Tyler Tech. The City processing ACH
payments via Nacha files uploaded in the online banking system. However, the City may be changing its
accounting software. Therefore, the City would like to know what accounting software the financial institution's
online platform is compatible with. In addition, the City would like to have this service from the selected financial
institution.
F. Collateralization. The financial institution will maintain a portfolio of investments, safe kept by a third party
(i.e., The Federal Reserve Bank) and pledged to the City, sufficient to collateralize all deposits of the City in
excess of FDIC coverage in accordance with applicable OCGA 45-8-11 through 45-8-15 and 50-17-59. The
successful financial institution will enter into a written collateral agreement with the City at the time such
collateral is pledged. When changes in deposited funds mandate a change in collateral, said collateral will be
pledged within three working days. The pledged collateral cannot be substituted without written consent of the
City. The collateral will be reviewed daily and priced by a third party on a monthly basis to ensure proper
collateralization of funds on deposit. The City will receive a monthly written report detailing all collateral pledged.
The successful financial institution, in lieu of the above collateralization requirements, may utilize the Georgia
Bankers Association (GBA) State of Georgia Pledging Pool, as allowed by the State of Georgia. However, if this
means of collateralization is used, the City will require a monthly report from GBA that lists the total public
deposits of the successful financial institution and the total securities pledged for those deposits. This report is
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City of Newnan, Georgia RFP for Banking Services
to be provided within three working days of the end of each month at no cost to the City and should the collateral
be less than 110 percent, the financial institution will have five working days from the end of the month to
ensure required collateralization. Failure to provide this report on a timely basis or failure to provide adequate
collateralization on a timely basis may result in termination of any contracts.
G. Reporting Services and Statements of Advice. All accounts will run on a calendar month basis. The financial
institution must provide monthly statements, account reconciliation reports, account analysis statements,
confirmation tickets, cancelled checks, and other report-related features normally associated with commercial
accounts. The City preference is that monthly statements and account analysis statements shall be received by
the 1st working day of the month. However, if the financial institution cannot meet this timeframe please provide
when monthly statements and accounts analysis statements will be received. Provide a sample bank statement
in your proposal to the City.
All advices affecting a debit or credit memo transaction must be provided daily and electronically. Confirmation
of all wires should be provided electronically on a daily basis. Bank coding errors should be corrected within 72
hours after notification by the City at no cost to the City. The financial institution will be expected to provide
custom, specialized reports from time to time.
A paid item file including check number, check amount, and date paid for all items paid in the preceding month
should be available for the City to download within five business days after month-end for the payroll and general
disbursement accounts. All paid item data for the City shall be maintained by the bank after download for a
period of one year. Unpaid items data would also be helpful.
H. Check Cashing. The successful financial institution shall honor all payroll, accounts payable, and petty cash
checks that are on the positive pay listing provided by the City and presented by payees at any of its offices when
accompanied by appropriate identification, without charge to the payee.
I. Online Banking Services. Online banking shall be compatible with the City's operating system Tyler
Technologies. Online banking shall include cash management support. The financial institution must be capable
of providing balance, float, and activity figures electronically on a daily basis. Online inquiry, transaction
initiation, and reporting systems shall be accessed via internet to include at a minimum:
1. Daily reporting of account balances, collected and available,
2. Account detail for current month and, at minimum, eleven prior months (Electronic Statements)
3. Wire transfer initiation and authorization,
4. City-originated stop payments of checks,
5. Returned items charged against accounts,
6. Bank reconciliation files,
7. Online check images (front and back) for all accounts, and,
8. Records of all account activity must be accessible (online). It is preferred these records be available
for eighteen months but required for twelve months for audit purposes.
9. Additional reports to be accessible on the online platform; ACH Controls, Positive Pay, Wire Reports,
Stop Payment, Account Transfer, Image Retrieval and ability to customize reports.
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City of Newnan, Georgia RFP for Banking Services
J. Deposit Processing.
1. Remote deposit. The City conducts remote deposit processing at Sanitation Department. A minimum
of two check scanners shall be required for City's administration building(s). Include a detailed
explanation of the financial institution's remote deposit services in the proposal.
2. Cash. On average, the City makes 6 cash deposits per month for $20,000 mostly bills, not coins. Of
that, the Finance Department at City Offices deposits $20,000 per month. The Finance Department
would like to consider SmartSafe technology for cash deposits for processing cash deposits. The
successful banking institution shall have SmartSafe capabilities in order to meet the cash deposit
requirements at the City.
K. City Purchasing Credit Cards. The City maintains credit card accounts as part of its current banking
relationship. Proposers shall provide information on its credit card services including any associated annual fees
and interest rates charged. Cards will be issued to approximately 60 employees for travel and business-related
expenses. Access and maintenance of maintenance of accounts must be available to administrators. Digital
submission of receipts and approvals must be enabled. Total transactions ranges from $35,000 - $55,000 per
month. The current line of credit is $100,000. However, the City request that the financial institution allow for
individual line of credit limits on temporary basis. In addition, the City would like the financial institution to
discuss the advantages of larger transaction size in the purchasing cards. The City currently does not use Virtual
Cards but would like the financial institution to explain the benefits and costs. See Section Interest Rate Rebate
Calculation.
L. Merchant Services & Payment Card Processing. The City uses the providers Government Portal, CivicPlus,
Courtware Solutions, Global/Pay, AMCS to accept credit card payments at separate locations; Finance
Department, Permits Department, Alcohol License Department, Police Department, Sanitation Department,
Municipal Court and Leisure Services where credit card payments are accepted. Proposers shall detail any
potential costs.
M. Interest Earning Accounts. Cumulative collected balances in all accounts will earn interest that will be credited
to the applicable account monthly. Explain the basis of the interest earnings rate in your response. In the
response, include the specific index used to calculate the rate and whether there is an interest rate floor. (Please
See Exhibit B)
O. Electronic Accelerated Payments. The City is interested in paying vendors electronically in order to expedite
the payment process leading to faster disbursements and improved cash flow. Please explain the banking
institution's ability to accomplish this by electronic payments, invoice automation and automated reconciliation.
Provide information indicating if this is a service your institution can provide and how the service would be
provided. Please include any file types you accept, any standards used, and if the City will have the capability to
create unique templates.
P. Supplies for City. Currently the City would like to explore having an annual supply credit for such services such
as, but not necessarily limited to deposit slips, check stock, bill straps and coin wrappers, locking night
depository bags, and non-locking depository bags. The bank will also provide the check and endorsement
stamps for all accounts at the invoice cost to the bank. The banking institution shall provide an explanation on
how the credit is received, any limitations on the types of supplies (i.e., smart safe bags), submit receipt for
supplies not provided
Q. Availability of Funds. Deposits will be couriered or submitted electronically with remote deposit capabilities
on a daily basis. The bank will guarantee immediate credit on all wire transfers and U.S. Treasury checks upon
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City of Newnan, Georgia RFP for Banking Services
receipt. All other checks shall be credited accordingly to the successful banking institution's availability
schedule. Banks are required to attach to the proposal a copy of their availability schedule.
R. Other. Please describe additional products/services offered by your financial institution that would assist the
City with their banking services needs which have not been covered in the RFP. For example, in what ways can
the City automate the AR/AP process to alleviate financial staff's hours devoted to the process. This AR/AP
automation is a critical factor to the City. In addition, the City would like to know of the services the financial
institution can provide its employees.
S. Bank Services Contact. The successful banking institution must designate one or more senior staff person(s)
who will serve as the City's principal contact for purposes of questions and problem resolution throughout the
life of the contact, for all accounts and services.
T. Training. The banking institution must provide on-site training in addition to making web-based training
available to City staff for all areas of service. Training, operating manuals, and ongoing support are to be supplied
for all services provided.
U. Relationship Reviews. The City will require the financial institution to conduct a banking process review every
12 months where the Treasury Team will observe and examine the City's accounts receivable process, accounts
payable process and financial account to ensure that workflows and procedures are efficient and noting where
a process is too labor intensive and be supplanted with automation.
V. Analytic Measurement. The banking institution will have the ability to measure product volume, service
resolution time, customer service inquires received volume and target completion date trend via analytics and
share with the City every 12 months.
3. Instructions to Financial Institutions
The City requests information and competitive price quotations from financial institutions for banking services
as specified herein. Late receipt of the proposal will result in the proposal being excluded from the process.
Please complete the Banking Services Proposal Form, Exhibits A and B, Attachments A and B. In addition, post
award forms to the winning bidder will include but not be limited to a W-9 and a Contractor Performance
Scorecard. The City expects to complete evaluation of the RFP's by the Week of July 13, 2026.
1. All questions concerning this RFP must be submitted via email to rhelton@newnanga.gov and
rcornejo@investdavenport.com by the due date in the schedule of events described in Section 6.
Only one email per Financial Institution will be allowed. The City may revise this RFP by issuing an
addendum. The addendum will be sent to the respondent banks. Addenda will become part of the
proposal documents and subsequent contract. Financial Institutions must sign and return any
addendum with their RFP response.
2. From the date this Request for Proposals (the "RFP") is issued until a Financial Institution is
selected, Financial Institutions are not allowed to communicate with any staff (other than designee
below) or elected officials of the City regarding this procurement. Any unauthorized contact will
disqualify the Financial Institution from further consideration. Contact information for a single point
of contact is as follows:
Ricardo Cornejo, rcornejo@investdavenport.com, 404-865-4040
4. Financial Institutions to Review City Operations
The City is offering all financial institutions an opportunity to review the City's cash management and treasury
operations onsite. The City believes this will give financial institutions ample opportunity to understand the
process and formulate questions prior to responding to the RFP.
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City of Newnan, Georgia RFP for Banking Services
5. Format of Proposal and Submittal
The proposal shall be prepared economically, and shall be straightforward, avoiding elaborate promotional
materials beyond those sufficient to provide a complete presentation. It shall adhere to the format shown in
Banking Services RFP Submittal Requirements on page 11. focusing on proven capabilities of the proposer to
meet the requirements of this RFP. The City is not responsible for any expenses incurred by the proposer in
preparing and submitting a response.
Please submitted one (1) original, two (2) copies and one (1) electronic copy on a thumb drive of the proposal
via sealed bid no later than June, 19, 2026 by 11:00AM to the City Manager's Office, 25 LaGrange Street,
Newnan, GA 30263 and the subject line containing the company name, address, telephone number, and TITLE
(CITY OF NEWNAN BANKING SERVICES RFP 2026) and include:
Completed, Responses to the Banking Service Submittal Requirements, Scope of Work, Exhibit A and B, and
Attachments A and B (limit of (45) forty-five pages) in PDF format.
No responsibility shall attach to the City for the premature opening of a proposal not properly addressed and
identified. Proposals received late will NOT be considered.
Information submitted in response to this RFP will not be released by the City prior to a contract award. If a
response includes trade secrets, the respondent is required to submit a non-redacted response and a redacted
copy excluding trade secrets. If the respondent identifies no trade secrets, it agrees that all sections shall be
made available upon public request after a contract award in accordance with Georgia open records laws.
6. RFP Estimated Timetable
The anticipated schedule for the RFP and contract approval is as follows:
Davenport Distributes Proposal Documents ........... April 27, 2026
Opportunity to Review Operations............................. Week of May 11, 2026 Time TBA
Deadline for submission of questions....................... May 26, 2026 4:00p.m.
Deadline for receipt of proposal ................................ June 19, 2026 11:00 a.m.
Interview of Shortlisted Financial Institutions............Week of July 20, 2026
Estimated Implementation Schedule Start Date....... Month of September 2026.
7. Selection Criteria
The following criteria will be used to evaluate information submitted in response to this RFP.
1. Compliance with the Bank RFP, Scope of Work and Cost Proposal set forth in this RFP.
2. Ability of respondents and its staff to meet the needs of the City.
3. Capacity to provide the highest quality and breadth of services at the most cost-effective price.
4. Cost.
The City may request an online demonstration from a respondent(s) as part of the evaluation and selection
process. It is the intent of the City to have a single Financial Institution provide all of the banking services
specified within this RFP.
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City of Newnan, Georgia RFP for Banking Services
Minimum Qualifications
Financial Institutions wishing to submit a response to this RFP must:
Be a state or federally chartered banking institution with a local presence within Coweta County
throughout the term of the contract.
Be insured by the Federal Deposit Insurance Corporation (FDIC).
Be a member of the Federal Reserve System and have access to all related services.
Have the ability to accept deposits at a City location or a processing center in Georgia for next day
deposit at the latest.
Have experts on staff to provide a full range of banking services to the City.
Have a secure, online, web-based reporting system.
Demonstrate appropriate experience servicing government customers with similar account
attributes and transaction volume as described herein.
Be able to accept deposits at a branch up to 4:00 p.m. local time and credit the City account on the
day of the deposit.
Be a qualified depository for public funds and have sufficient qualified collateral available to pledge
in accordance with banking regulations.
8. Terms and Conditions
1. The City reserves the right to accept or reject any and all proposals, cancel all or part of this RFP and
waive any irregularities. The award will be made to the Financial Institution who best complies with the
requirements of the RFP and who, in the opinion of the City, presents the services which best suits the
City's needs at a competitive price. Customer service and technology will be key factors.
2. The Financial Institution must certify that it has fully read and understood the RFP, by completing and
signing Exhibit A, and has full knowledge of the scope, nature, quantity and quality of work to be
performed, the detailed requirements of the services to be provided, and the conditions under which the
services are to be performed.
3. The City assumes no cost by the Financial Institution in preparation of the RFP response.
4. The City is seeking information for an initial contract for 12 months, with the option to renew for
additional 12-month periods with the consent and agreement of both the Financial Institution and the
City.
9. Additional Requirements
1. TERMINATION FOR CAUSE: The City reserves the right to terminate the resulting contract, in whole or
in part, for failure to comply with any provisions of the contract as outlined by providing a written notice
to the successful financial institution at least thirty (30) days before the effective date of termination.
The successful financial institution will not be relieved of any outstanding responsibilities or unfinished
obligations under this contract.
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City of Newnan, Georgia RFP for Banking Services
The successful financial institution has the right to terminate this contract for cause by providing a
written notice of intent to the City Manager or their designee to terminate at least thirty (30) days prior
to the effective date of the contract termination.
2. TERMINATION WITHOUT CAUSE: The City reserves the right to terminate the contract at any time
without cause, in whole or in part, by providing a written notice to the other party at least thirty (30) days
before the effective date of termination. The other party will not be relieved of any outstanding
responsibilities or unfinished obligations under this contract that were incurred prior to termination.
3. REPORTING DISPUTES: The Financial Institution shall report any contract disputes and/or problems
to the City Manager or their designee, in writing, within 48 hours of their occurrence.
4. INDEPENDENT CONTRACTOR: The Financial Institution shall be an independent contractor. Nothing
in this agreement shall be construed as authority for the Financial Institution to make commitments
which shall bind the City to otherwise act on its behalf, except as the City Government may expressly
authorize in writing.
5. INSURANCE: The Financial Institution shall, at its own expense, provide and maintain during the entire
performance of this contract, at least the kinds and minimum amounts of insurance specified such as
the insurer shall be in good standing within the state of Georgia through the Insurance Commissioner's
Office and must be rated "A" or better, with AM Best Company.
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