Trust and Custody Fee Summary - Annual Minimum Fee

The Department of Treasury of Virginia awarded contract PO05445333 to Principal Bank on August 20, 2026, for trust and custody fee services. The contract carries a cumulative value of $230,000.00 and encompasses the delivery of annual minimum fees associated with trust and custody account management. The line item specifies a quantity of five units at $46,000 per unit, with deliverables directed to Raymonde Charles.

Principal Bank serves as the prime contractor responsible for providing trust and custody fee services under this agreement with the Virginia Department of Treasury. The contract structure indicates an annual minimum fee arrangement, suggesting an ongoing service relationship for fiduciary account management and custodial activities. The specific performance period and detailed scope of services are not explicitly detailed in the available contract documentation; however, the award date of August 20, 2026, establishes the contract commencement timeline.