Project Information

Bid Title

Banking Services

Issuing Agency

Irmo town

Location

South Carolina

Published Date

Apr 14, 2026

Closing Date

May 22, 2026

Government Level

State & Local

Status

Closed

Original Source

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Bid Documents

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Project Description

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

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