TRE26202-LOCKBANKSATM_rfp.pdf

REQUEST FOR PROPOSAL FOR

LOCAL BANKING SERVICE &

STATEWIDE AUTOMATED TELLER

MACHINE SERVICES

ISSUED BY THE OFFICE OF THE STATE TREASURER

CONTRACT NUMBER: TRE26202-LOCBANKSATM

Overview

By this request for proposal (the “RFP”), the Office of the State Treasurer (“OST”), on behalf of the Cash Management Policy Board (the “Board”), is seeking proposals from qualified financial institutions and other qualified service providers (“Vendors”) interested in providing Local Banking

Services and/or Statewide Automated Teller Machine (“ATM”) Services to the State of Delaware

(“State”) as detailed in Appendix B.

The services contemplated under this RFP are organized into two service categories:

1. Local Banking Services- selected Vendor(s) will provide local banking services to State agencies, local school districts, and other eligible State entities in accordance with the requirements established by OST and the Board, including applicable collateralization requirements and the Cash Management Policy Board Guidelines (the “Guidelines”).

2. ATM Services- selected Vendor(s) will provide ATM services at designated State facilities, which may include ATM equipment, transaction processing, cash management and replenishment, monitoring, maintenance and repair, settlement and reconciliation, reporting, implementation and transition support, and other related services as applicable.

The State intends to select one Vendor with multiple local branches in all three counties to serve as the State’s primary, but not exclusive, over-the-counter (“OTC”) collection bank. The State reserves the right to issue multiple awards to ensure sufficient geographic coverage and service availability for the State’s local banking needs.

Statewide ATM Services may be awarded separately from Local Banking Services. Vendors may submit proposals for Local Banking Services, Statewide ATM Services, or both, subject to the requirements applicable to each service category. The State reserves the right to award the two service categories to the same Vendor or to separate Vendors, as determined to be in the best interests of the

State.

Individual State entities may utilize awarded Local Banking Vendor(s) in accordance with OST-established banking procedures and applicable contract requirements. OST will maintain centralized oversight and administration of the resulting local banking and ATM Services relationships.

This RFP is issued pursuant to 29 Del. C. §§ 6981, 6982(b), and 6986.

STATE OF DELAWARE TRE26202-LOCBANKSATM

Timetable

The tentative timetable for this RFP process is as follows:

EVENT DATE

RFP Published October 30, 2026

Deadline for Vendor Questions November 16, 2026 at 4:00pm

Deadline for State Responses – Q&A Closed & Published December 4, 2026 at 4:00pm

Deadline for Vendor Proposal Submission December 23, 2026 at 4:00pm

Estimated Finalist Presentations (In Person) January 25–29, 2027

Estimated Board Approval February 24, 2027

Estimated Contract Negotiation Begin March 5, 2027

Target Contract Execution September 28, 2027.

Target Award Posting October 15, 2027

Target Implementation and Transition to Begin October 15, 2027, or promptly following Award

Target Service Commencement December 22, 2027

There will be no pre-bid meeting associated with this RFP.

This RFP is not an offer. The State reserves the right to cancel this RFP or modify the above RFP dates at any time, and for any reason.

Vendors are expected to fully inform themselves of, and by submitting a proposal shall be deemed to have read, understood and unconditionally and irrevocably accepted, all conditions, requirements, and specifications of this RFP and all attachments and exhibits, subject only to the exception process provided for herein.

Proposal to Remain Open

Vendors that submit a proposal in response to this RFP shall be deemed automatically to have consented and irrevocably agreed to keep any such proposal open for nine (9) months after the deadline for Vendor proposal submissions, or for such additional period as the State and any

Vendor may agree upon. Rates and fees quoted in a proposal shall remain fixed and binding on the Vendor.

Contract Term

The original term of the contract between each successful Vendor and the State shall be five (5) years, with the option for two (2) additional two-year extension periods.

Designated Contact:

This RFP process will be managed primarily by the Director of Operations and Fund Management

(the “Designated Contact”):

Name: Brennon A. Fountain

Title: Deputy State Treasurer

Address: 820 Silver Lake Boulevard, Suite 100

City / State: Dover, DE

Zip code: 19904

Email: Treasury_RFP@delaware.gov

Phone: (302) 672-6703

Submission of Written Questions

All questions about the RFP shall be submitted through the State’s Bonfire procurement portal ton or before 4:00 p.m., prevailing Eastern time, on November 16, 2026.

Questions should be directly tied to the RFP and asked in consecutive order from beginning to end, following the organization of the RFP. Each question should begin by referencing the RFP title, page number and section in question, and subject number to which it relates.

The State will provide written responses to questions from prospective Vendors no later than 4:00 p.m. Eastern time on December 4, 2026. The final question-and-answer document will be posted through Bonfire and will be placed on https://mmp.delaware.gov/Bids.

Background

The Cash Management Policy Board

The Board has statutory authority over the investment and deposit of State funds, including the selection of financial institutions that provide banking and investment services to the State. The Board consists of nine (9) members, including five (5) Delaware citizens appointed by the Governor. The remaining four (4) members serve ex officio and include the State Treasurer, the Secretary of Finance, the Secretary of State, and the Controller General.

The Board maintains two standing committees: the Investment Subcommittee and the Banking

Subcommittee (“BSC”). The BSC is authorized to review, address, and make recommendations to the full Board regarding banking services and related matters.

The Board meets at least four times annually, and each standing committee also meets at least four times per year.

The Board establishes policies governing the investment and deposit of State funds through the

Guidelines, attached as Appendix C. The Guidelines govern, among other matters, the State’s bank accounts, collection and disbursement accounts, collateralization requirements, and the financial institutions authorized to hold State funds.

STATE OF DELAWARE TRE26202-LOCBANKSATM

mailto:Treasury_RFP@delaware.gov https://mmp.delaware.gov/Bids https://mmp.delaware.gov/Bids mailto:Treasury_RFP@delaware.gov

OST serves as the administrative arm of the Board and coordinates all meetings of the Board and its committees. OST also has primary responsibility for providing transaction and cash management services that ensure sound fiscal stewardship over the State’s financial assets, systems, and processes.

OST is responsible for the design, implementation, management, and continuous improvement of the

State’s banking structure and manages the State’s relationships with Board-approved financial institutions and other service providers supporting State banking and related financial services.

Generally, OST-procured banking and related financial services are made available to departments, agencies, local school districts, and other entities within the executive, legislative, and judicial branches of State government. Other State entities responsible for State funds may also utilize OST-procured banking services, including public and charter schools and State colleges.

Scope of Services

OST seeks to enter into agreements with qualified financial institutions and other qualified service providers to provide Local Banking Services and/or ATM Services to the State.

State agencies and other eligible State entities utilize local banking accounts to support operational banking needs, including the deposit of coin, currency, and checks, as well as disbursement and other treasury management services, as applicable. OST also oversees ATM services at designated State facilities to support access to cash and related transaction services.

The State’s current local banking structure includes multiple Board-approved financial institutions that provide local branch banking services throughout Delaware. M&T Bank currently serves as the

State’s primary OTC collection bank, with TD Bank and Citizens Bank serving as additional financial institutions providing OTC and related local banking services under the State’s existing contracts.

Through this RFP, the State intends to select a Vendor to serve as the State’s primary, but not exclusive, OTC collection bank and may issue additional awards to ensure sufficient geographic coverage and access to local banking services throughout New Castle, Kent, and Sussex Counties.

State entities requiring local banking services may select from the financial institutions awarded contracts through this procurement, subject to applicable OST policies and procedures.

ATM Services may be awarded separately from Local Banking Services. Vendors may submit proposals for

Local Banking Services, ATM Services, or both, subject to the requirements applicable to each service category.

OST maintains centralized oversight and administration of the State’s local banking and ATM service relationships. Within OST, the Reconciliation and Transaction Management Division facilitates the establishment and administration of local banking accounts, while the Operations and Fund

Management Division oversees the implementation and administration of additional treasury management services and related service relationships available under the resulting contracts.

The overarching goal of this RFP is to engage Vendors that can provide reliable, secure, responsive, and cost-effective Local Banking and ATM Services, while supporting sufficient branch access, consistent service standards, transparent pricing, and compliance with applicable State requirements.

Selected Vendors will also be required to provide appropriate reporting, participate in periodic meetings with OST and/or the Board, and perform other related banking services as reasonably requested.

Detailed requirements for the Scope of Services requested under this RFP are outlined in Appendix

B.

Minimum Requirements to Apply

Proposals that do not meet the following minimum requirements, or that do not comply with the specifications or material terms and conditions of this RFP, may be considered non-responsive and rejected. Vendors must clearly demonstrate in their proposals how they meet the minimum qualifications applicable to the service category or categories for which they are submitting a proposal:

1. Minimum Requirements Certification. The Vendor must affirmatively certify in the

Transmittal Letter (Tab A) that it meets each of the minimum requirements identified in this section applicable to the service category or categories for which it is submitting a proposal.

The Vendor must identify the applicable section(s) of its proposal containing supporting information for each minimum requirement.

2. Timely Submission. The Vendor must timely submit a complete proposal in accordance with the proposal deadline and submission requirements set forth in this RFP.

3. Relevant Experience. The Vendor submitting a proposal for Local Banking Services must have at least (5) five years’ experience providing banking services to governmental or other public-sector entities. Vendors submitting a proposal for ATM Services must have at least five (5) years’ experience providing ATM, transaction-processing, cash-management, or related services to governmental, institutional, commercial, or similarly complex organizations.

4. Local Branch Presence. The Vendor must maintain a physical branch presence within the State sufficiently to support the local banking needs contemplated by this RFP. Vendors seeking consideration as the State’s primary OTC collection bank must demonstrate branch coverage in New Castle, Kent, and Sussex Counties. Vendors seeking consideration for additional local banking awards must identify the counties and geographic areas in which they maintain branch locations and can provide the required services.

5. ATM Service Capability – ATM Services Only. Vendors submitting a proposal for ATM

Services must demonstrate the operational capability and resources necessary to support the

State’s ATM program, including, as applicable, ATM equipment, transaction processing, cash management and replenishment, monitoring, maintenance and repair, settlement and reconciliation, reporting, implementation and transition support, and related services.

6. Compliance with RFP Requirements. The Vendor must substantially comply with the proposal submission requirements and other material terms and conditions of this RFP applicable to the service category or categories for which it is submitting a proposal.

OST does not wish to dissuade an otherwise qualified Vendor from submitting a proposal based on the foregoing minimum requirements if legitimate business reasons or industry practices mitigate or eliminate the need for any such requirement. A Vendor who fails to meet a minimum requirement must explain in detail in its response the reason or reasons why OST should excuse non-compliance. OST shall have absolute discretion to accept or reject any such explanation and waive any minimum qualification requirement.

RFP Issuance and Submission of Proposals

A. RFP Issuance

1. Public Notice

Public notice has been provided in accordance with 29 Del. C. § 6981.

2. Obtaining Copies of the RFP

This RFP is available in electronic form only and as a courtesy, may be found at the following websites:

https://treasurer-delaware.bonfirehub.com/projects http://treasurer.delaware.gov/requests-proposals/ https://nast.org/state-careers-and-rfps/ https://mmp.delaware.gov/Bids

Assistance to Vendors with a Disability

Vendors with a disability may receive accommodation regarding the means of communicating this RFP or participating in the procurement process. For more information, contact the Designated Contacts no later than ten days prior to the deadline for receipt of proposals.

3. RFP Designated Contact

All requests, other than Vendor questions submitted through the RFP question-and-answer process described below, questions, or other communications about this RFP shall be made in writing to the Designated Contacts. Communications must be submitted electronically to the following email address: Treasury_RFP@delaware.gov.

4. Vendors and Legal Counsel

OST may retain professional services or legal counsel to assist in the review and evaluation of this RFP and the Vendors’ responses. Vendors shall not contact OST’s professionals or legal counsel on any matter related to the RFP unless so instructed in writing by the Designated Contacts. Vendors who make contact in violation of this provision may be disqualified from participation in the RFP process. Exceptions exist only for Vendors currently doing business with the State who require contact with such professionals or legal counsel in the ordinary course of business.

5. Contact with Other State Employees

STATE OF DELAWARE TRE26202-LOCBANKSATM

http://delcode.delaware.gov/title29/c069/sc06/index.shtml#6981 https://treasurer-delaware.bonfirehub.com/projects http://treasurer.delaware.gov/requests-proposals/ https://nast.org/state-careers-and-rfps/ mailto:Treasury_RFP@delaware.gov

Direct contact with State employees other than the Designated Contacts regarding this

RFP is expressly prohibited without prior written consent from the primary Designated

Contact. Vendors who directly contact a State employee in violation of this provision may be disqualified from participation in the RFP process. Exceptions exist only for Vendors currently doing business with the State who require contact with State employees in the ordinary course of business.

6. Organizations Ineligible to Bid

Any individual, business, organization, corporation, consortium, partnership, joint venture, or any other entity currently debarred or suspended from conducting business in the State or any other jurisdiction for any reason may be deemed ineligible to respond to this RFP.

7. Exclusions

The State reserves the right to refuse to consider any proposal from a Vendor who itself or its officers or staff:

a) Has been convicted for commission of a criminal offense as an incident to obtaining or attempting to obtain a public or private contract or subcontract, or in the performance of the contract or subcontract;

b) Has been convicted under state or federal statutes of embezzlement, theft, forgery, bribery, falsification or destruction of records, receiving stolen property, or other offense indicating a lack of integrity or honesty;

c) Has been convicted or has had a civil judgment entered for a violation of any state or federal antitrust statute;

d) Has failed:

i. Without good cause to perform under a consulting contract; or

ii. To perform satisfactorily in accordance with terms of any consulting contract;

e) Has violated ethical standards set out in law or regulation; and

f) Any other cause determined by OST or the Board to be serious and compelling, and which undermines confidence in the Contractor’s ability to perform independently under any resulting consulting contract.

8. No Press Releases or Public Disclosure

OST reserves the right to pre-approve any news or broadcast advertising releases concerning this RFP, the resulting contract, the work performed, or any reference to the

State with regard to any project or contract performance. Any such news or advertising releases pertaining to this RFP or resulting contract shall require the prior express written permission of OST.

9. RFP Not an Offer

This RFP does not constitute an offer by OST, the Board or the State.

B. Submission of Proposals

1. Proposal Content

Each proposal must be submitted in writing and respond to the items outlined in this RFP.

OST reserves the right to reject any non-responsive or non-conforming proposals.

Each Vendor must clearly identify whether its proposal is for Local Banking Services, ATM Services, or both service categories. Vendors submitting proposals for both service categories must clearly distinguish the services, pricing, qualifications, and other information applicable to each category.

The State discourages overly lengthy and costly proposals and prefers that they be prepared in a straightforward and concise manner. Unnecessarily elaborate brochures or other promotional materials beyond those sufficient to present a fully responsive proposal are not desired.

Proposals must be realistic and must represent the best estimate of time, materials and other costs, including the impact of inflation and any economic or other factors that are reasonably predictable. The State shall have no responsibility or liability for a Vendor’s failure to accurately estimate the costs or resources required to meet the obligations defined in the proposal.

A Vendor should describe in detail on Attachment 3 any areas where it will be unable to provide services as requested or required herein. In addition, if a Vendor is able to provide the services exactly as requested or required but believes that there would be benefits (such as cost savings or improved service) to making adjustments to the services outlined, the

Vendor should describe the adjustments and the benefits on Attachment 3. Acceptance or rejection of any or all exceptions is within OST’s sole discretion.

Vendor must respond to all mandatory requirements presented in this RFP. The words

“shall,” “will,” and “must” are used herein to designate mandatory requirements. Failure to respond to a mandatory requirement may, in OST’s sole discretion, result in the disqualification of a Vendor from the RFP process.

2. Proposal Delivery

All proposals must be received no later than 4:00 p.m., prevailing Eastern Time, on

December 28, 2026 (the “Proposal Deadline”). Responses received after the Proposal Deadline will not be considered. Vendors must upload their proposals to the State’s Bonfire procurement portal prior to the Proposal Deadline and submit one (1) paper copy to OST, also to be received by the Proposal Deadline. The paper copy must be placed in a spiral-bound book or three-ring binder.

The proposal package delivery address is:

Client: State of Delaware

Name: Brennon A. Fountain

Title: Deputy State Treasurer

Address: 820 Silver Lake Boulevard, Suite 100

City/State: Dover, DE

ZIP: 19904

Email: Treasury_RFP@delaware.gov

Upload your proposal at: https://treasurer-delaware.bonfirehub.com/projects

Important Notes:

Logging in and/or uploading the file(s) does not mean the response is submitted.

Vendors must successfully upload all the file(s) and must click the submit button before the proposal due date and time.

Vendors will receive an email confirmation receipt with a unique confirmation number once the submission has been finalized. This will confirm that the proposal has been submitted successfully.

Each submitted item of requested information will only become visible to the State after the proposal due date and time.

If the file is mandatory, you will not be able to complete your submission until the requirement is met.

Uploading large documents may take significant time depending on the size of the file(s) and your internet connection speed. The maximum upload file size is 1000 MB.

Minimum system requirements: Internet Explorer 11, Microsoft Edge, Google

Chrome, or Mozilla Firefox (Windows & Mac). Java Script must be enabled.

Please contact Bonfire directly at Support@GoBonfire.com for technical questions or issues related to your submission.

Any proposal received after the Proposal Deadline shall not be considered.

Vendors are directed to clearly print “PROPOSAL ENCLOSED” and “CONTRACT NO. TRE26202-LOCBANKSATM on the outside of the bid submission package.

Any proposal received after the Proposal Deadline shall not be considered and shall be returned unopened. Vendor will bear the risk of delays in delivery.

3. Proposal Modifications

Any changes, amendments or modifications to a proposal must be made in writing, submitted in the same manner as the original response and conspicuously labeled as a change, amendment or modification to a previously submitted proposal. Changes, STATE OF DELAWARE TRE26202-LOCBANKSATM mailto:Treasury_RFP@delaware.gov https://treasurer-delaware.bonfirehub.com/projects mailto:Support@GoBonfire.com amendments, or modifications to proposals shall not be accepted or considered after the

Proposal Deadline.

4. Proposal Costs and Expenses

The State is not responsible for and will not pay any costs incurred by any Vendor in responding to this RFP, including, but not limited to, costs associated with proposal preparation, printing, and delivery, the interview/presentation process and contract negotiations.

5. Late Proposals

Proposals will be date and time stamped upon receipt. Proposals received after the

Proposal Deadline will not be opened or considered.

6. Proposal Opening

Proposals will be opened only in the presence of OST personnel. Any unopened proposals will be returned to the proposing firm. OST staff will create a public log containing the names of all Vendors that submitted proposals and the dates and times of OST’s receipt of each proposal. Unless required by applicable law, the contents of any proposal shall not be disclosed prior to contract award.

7. Rejection of Individual Proposals

Pursuant to 29 Del. C. § 6981(m), an individual proposal may be rejected if (a) the proposal is deemed non-responsive because it fails to meet the material requirements of this RFP, (b) the Vendor or the proposal is deemed not responsible under the factors listed in § 6981(n)(2), or if the proposal is deemed not advantageous to the State.

OST shall have the authority and discretion to determine whether an RFP requirement is material, or a mere formality or non-substantive requirement, whether a particular firm is responsible, and whether a proposal is advantageous to the State. If OST rejects an individual proposal, the determination shall be in writing and will set forth the basis for the determination. A copy of the determination shall be promptly sent to the proposing

Vendor. The final determination shall be made part of the procurement file.

8. Confidentiality of Documents

Subject to applicable law or the order of a court of competent jurisdiction to the contrary, all documents submitted as part of a Vendor’s proposal will be treated as confidential during the evaluation process and will not be available for review by anyone other than

OST, the Board, the Evaluation Team and their counsel. There shall be no disclosure of any Vendor’s information to a competing Vendor prior to award of the contract unless such disclosure is required by law or by order of a court of competent jurisdiction.

The State and its constituent organizations are required to comply with the State of

Delaware Freedom of Information Act, 29 Del. C. § 10001, et seq. (“FOIA”). FOIA requires that the State’s records are public records (unless otherwise declared by FOIA or other law to be exempt from disclosure) and are subject to inspection and copying by any person upon written request. Once a proposal is received by the State and a decision on a contract award is made, the content of selected and non-selected Vendor proposals will likely become subject to FOIA’s public disclosure obligations.

The State wishes to create a business-friendly environment and procurement process. As such, the State respects that Vendors desire to protect intellectual property, trade secrets and other confidential business information (collectively referred to herein as

“confidential business information”). If a Vendor feels that it cannot submit a proposal without including confidential business information, it must adhere to the following procedure or such proposal may be deemed unresponsive, may not be recommended for selection, and any applicable protection for the Vendor’s confidential business information may be lost.

In order to allow the State to assess its ability to protect confidential business information, Vendors will be permitted to designate appropriate portions of their proposal as confidential business information.

Vendors may submit portions of a proposal considered to be confidential business information in a separate, sealed envelope labeled “Confidential Business Information” and include the specific RFP number. The envelope must contain a letter from the submitting Vendor’s legal counsel describing the information contained in the documents, representing in good faith that the information is protected from disclosure under FOIA, and briefly stating the reasons that such information is exempt under FOIA.

Upon receipt of a proposal accompanied by such a separate, sealed envelope, the State will open the envelope to determine whether the procedure described above has been followed. A Vendor’s allegation as to its confidential business information shall not be binding on the State; rather, the State shall independently determine the validity of any

Vendor designation as set forth in this section. Any Vendor submitting a proposal or using the procedures discussed herein expressly accepts the State’s absolute right and duty to independently assess the legal and factual validity of any information designated as confidential business information. Accordingly, Vendors assume the risk that confidential business information included within a proposal may enter the public domain.

9. Sub-Contracting

Subcontracting is not permitted without OST’s prior written consent. Any Vendor that submits a proposal contemplating the use of independent contractors or a subcontractor shall identify the purpose for such use, as well as the scope of work and other terms for any such arrangement. All independent contractors and subcontractors must agree in writing to be bound by the terms of the Professional Service Agreement (the “PSA”).

10. Discrepancies and Omissions

Vendors are fully responsible for the completeness and accuracy of their proposals, and for examining this RFP and all attachments, exhibits and addenda. Failure to do so will be at the sole risk of Vendors. Should a Vendor find discrepancies, omissions, or unclear or ambiguous language in this RFP, Vendor should seek clarification from OST pursuant to the question-and-answer process detailed below. Protests based on any discrepancies, omissions, or unclear or ambiguous language will be disallowed if the same have not been timely raised in and preserved through the question-and-answer process below.

11. RFP Question and Answer Process

OST will allow written requests for clarification of the RFP. Vendors must submit written questions through OST’s Bonfire procurement portal by 4:00 p.m., prevailing Eastern time, on November 16, 2026. Questions submitted by email will not constitute a submission through the RFP question-and-answer process.

All questions will be consolidated and answered in a single response that will be posted through the OST’s Bonfire procurement portal and on the State’s websites at https://mmp.delaware.gov/Bids by 4:00 p.m., prevailing Eastern time, on December 4, 2026, or such other date and time as may be prescribed by OST. Vendor names will not be attributed to questions in OST’s response.

Vendors shall identify the applicable RFP section, page number, and subject matter when submitting each question through Bonfire. Questions should be sufficiently specific to allow the OST to identify the provision for which clarification is requested.

12. State’s Right to Reject Proposals

OST and the Board reserve the right to accept or reject any or all proposals or any part of any proposal, to waive defects, technicalities or any specifications (whether they be RFP specifications or contained in a Vendor’s response), to assess the merits and qualifications of each proposal and Vendor, to solicit new or modified proposals on the same project, as

OST and the Board may deem necessary or appropriate or in the best interest of the State.

The State may award Local Banking Services and ATM Services separately and may issue one or more awards within a service category, as permitted by this RFP and applicable law.

13. State’s Right to Cancel Solicitation

The State reserves the right to cancel this solicitation at any time during the procurement process, for any reason, or for no reason at all. The State makes no commitments, expressed or implied, that this process will result in a contract with any Vendor.

A Vendor’s participation in this RFP process may result in the State selecting the Vendor to engage in discussions and negotiations of a formal contract. The commencement of such negotiations does not signify, and may not be interpreted as, a commitment by the

State to execute a contract or continue negotiations. The State may terminate negotiations at any time and for any reason, or for no reason at all.

14. State’s Right to Award Multiple Source Contracting

Pursuant to 29 Del. C. § 6986, the State may award multiple contracts to two or more

Vendors if the Board makes a determination that such action is necessary or appropriate or in the best interest of the State.

15. Notification of Withdrawal of Proposal

Vendor may modify or withdraw its proposal by written request, provided that both the proposal and subsequent request is received by the Designated Contacts prior to the

Proposal Deadline. A withdrawn proposal may be revised and re-submitted and will be considered timely as long as the revised proposal is received by the Proposal Deadline.

All proposals received prior to, and which have not been withdrawn by, the Proposal

Deadline shall become firm offers and shall not be revocable after that time.

16. Revisions to the RFP

If it becomes necessary to revise any part of the RFP, an addendum will be posted through

Bonfire and https://mmp.delaware.gov/Bids.

17. Exceptions to the RFP

Any exceptions to the RFP or any attachments, exhibits or addenda, along with corresponding explanations and alternatives, must be noted and explained on Attachment

3 and submitted with a proposal by the Proposal Deadline. Vendors that fail to timely and otherwise adequately preserve and assert exceptions shall be deemed to have waived all such exceptions and related arguments. The State has absolute discretion with respect to the acceptance or rejection of exceptions.

18. Exceptions to the PSA

Attached hereto as Appendix A is OST standard form of PSA and related exhibits. The terms of the PSA will govern the contractual relationship between a Vendor and the State.

Any exceptions to the PSA, along with corresponding explanations and alternatives, must be noted and explained on Attachment 3. Vendors shall provide a redlined version of the

PSA redline version reflecting all requested changes and copies of all form documents that they want OST to consider. Vendors that fail to timely and otherwise adequately preserve and assert exceptions to the PSA shall be deemed to have waived all such exceptions and related arguments. The State has absolute discretion with respect to the acceptance or rejection of PSA exceptions.

19. Award of Contract

The issuance of a contract award (“Award”) is subject to approval by OST and the Board.

OST and the Board have the sole right to select the successful Vendor and approve the issuance of any Award and the terms of any PSA. OST and the Board may (a) approve the issuance of an Award to a Vendor other than the Vendor who submitted the lowest priced proposal, (b) issue multiple Awards, or (c) withdraw the RFP and issue no Award.

No Award or contract resulting from this RFP process shall be effective unless and until authorized by OST and the Board.

STATE OF DELAWARE TRE26202-LOCBANKSATM

http://delcode.delaware.gov/title29/c069/sc06/index.shtml

An Award, if any, will be communicated to the successful Vendor and published only after

(a) OST and the Board authorize the issuance of an Award, and (b) OST and each such

Vendor execute a formal PSA on terms acceptable to OST and the Board. No Vendor will acquire any legal or equitable rights or privileges until the occurrence of both events.

The Award, the PSA and all attachments and exhibits, including all pricing information, and amounts and other details concerning any payments made to a successful Vendor shall be matters of public record subject to disclosure under FOIA.

Proposal Requirements and Evaluation

A. Required Information

1. Vendors shall provide the following information with their proposals in the order listed below. Failure to respond to any request for information within this RFP may result in rejection of the proposal. The proposal will be presented in a spiral-bound book or 3-ring binder, with each completed attachment identified in its own tab.

Tab A: Transmittal Letter. Provide a transmittal letter certifying the Vendor’s compliance with each of the Minimum Requirements identified in this RFP applicable to the service category or categories for which the Vendor is submitting a proposal and identifying where supporting information is located within the proposal. Any exception to a Minimum Requirement must be explained as provided in the Minimum

Requirements to Apply section.

Tab B: Questionnaire(s). Provide a detailed set of responses to the questions posed in

Attachment 1. All Vendors must respond to Attachment 1 and shall respond to the questions applicable to the service category or categories for which they are submitting a proposal. Questions that are not applicable shall be identified as “Not Applicable,” with a brief explanation where requested. Responses should be both complete and concise.

Tab C: Confidential Information Form. Vendors should identify any material information that is considered confidential using the form of Attachment 2. Any information not within this form is automatically subject to FOIA.

Tab D: Exception Form. Provide a detailed listing of any exceptions to the RFP, including all attachments and appendices, including the PSA and its exhibits, using the form included as Attachment 3. Successful Vendors who do not take exceptions as required are deemed to have consented and irrevocably agreed to the terms of the RFP.

Tab E: Business References. Provide at least three business references using the form provided in Attachment 4.

2. Prior to Award, the successful Vendor shall furnish OST with proof of (i) all necessary business licenses, including a valid State business license, (ii) certification(s) necessary to perform services identified herein, and (iii) proof of insurance required under the PSA attached hereto as Appendix A.

B. Proposal Evaluation

1. Initial Screening

The Designated Contacts and/or designated OST staff shall perform an initial screening of all proposals submitted by qualified Vendors and evaluate them for timeliness and compliance with the minimum qualifications and other requirements set forth herein. The initial screening shall include written determination of each proposal’s responsiveness under 29 Del. C. §

6981(n)(1). OST shall have discretion with respect to any such determination. Proposals that pass the initial screening shall be forwarded to the Evaluation Team (as defined below) for scoring and evaluation as provided herein applicable to the service category or categories proposed.

2. The Evaluation Team

An evaluation team (“Evaluation Team”) that may be composed of representatives from OST, the Board and other State entities will evaluate qualified Vendor proposals meeting all RFP requirements based on the quantitative and qualitative criteria set forth below. Neither the lowest price nor highest scoring proposal will necessarily be selected. OST may, in its discretion remove or add members of the Evaluation Team.

3. Evaluation Criteria

Vendors must review the evaluation criteria below and provide responses that address the criteria. The Evaluation Team will not be able to make assumptions about the Vendors’ capabilities; therefore, responses should be detailed and concise within the proposal.

The State has outlined the services it will require in the Scope of Services above and Appendix

B. In formulating responses, Vendors are encouraged to suggest additional or modified services in their proposals if such additional or modified services will provide a benefit to the

State.

Proposals that are responsive and otherwise meet submission requirements of the RFP will be evaluated and scored based on the criteria and points system set forth in the table below. The results of scoring shall be documented by each member of the Evaluation Team.

Local Banking Services and ATM Services will be evaluated as separate service categories.

A Vendor submitting proposals for both categories will receive a separate evaluation and score for each category. Vendors will be evaluated only against the criteria applicable to the service category for which they are being considered.

Evaluation Criteria – Local Banking Services

Evaluation Criteria for Proposals Point Value

Operational & Service Requirements including ability to fulfill the Scope of Services, bank and branch locations, deposit and disbursement services, treasury management capabilities, reconciliation, and overall service delivery

Technical, Security & Reporting Requirements including online reporting and access, data security, DTI requirements, system capabilities, internal controls, and technical infrastructure

Experience, Qualifications & Customer Service including relevant governmental and institutional banking experience, relationship management approach, references, financial strength, controls, and qualifications of personnel

Implementation Plan including quality and scope of the implementation approach, experience and qualifications of the implementation team, transition planning, and identified efficiencies or opportunities

Pricing including overall pricing structure, service and rate schedules, earnings credit or interest arrangements, and applicable discounts

TOTAL POINTS 100

Evaluation Criteria – ATM Services

Evaluation Criteria for Proposals Point Value

Operational & ATM Service Requirements, including ATM equipment, cash-management and replenishment capabilities, transaction processing, monitoring, maintenance, settlement and reconciliation, service levels, and overall service delivery

Technical, Security & Reporting Requirements, including system capabilities, transaction security, monitoring, reporting, cybersecurity, DTI requirements, internal controls, and technical infrastructure

Experience, Qualifications & Customer Service, including relevant ATM program experience, relationship management, references, financial and operational capacity, controls, and qualifications of personnel.

Implementation Plan, including transition approach, equipment/site implementation, testing, cash-management setup, implementation team, continuity planning, and stabilization support

Pricing, including recurring fees, transaction fees, equipment costs, cash-management/replenishment costs, maintenance, implementation charges, pass-through costs, and other applicable fees

TOTAL POINTS 100

4. Proposal Clarification

Prior to scoring, the Evaluation Team may communicate with a Vendor in order to clarify uncertainties or gain better understanding of a proposal. The Evaluation Team may require or permit Vendors to modify or supplement their proposals as a result of such communication.

Vendors must provide all requested information in a timely manner, which shall mean on or before any deadline established by the Evaluation Team.

5. Communication with References and Past or Present Clients

The Evaluation Team may communicate with all references provided by a Vendor on

Attachment 4 and may use information gained thereby in the evaluation process. In addition, the Evaluation Team may communicate with any known past or present client of a Vendor outside of the reference list, and any information gained may be used in the evaluation process.

Vendors that submit a proposal in response to this RFP shall be deemed to have (a) waived any confidentially or other restrictions that may limit in any way a reference or client’s ability to convey information relevant to the evaluation process and (b) to all such communications with references or clients.

6. Oral Presentations

The Evaluation Team, after initial scoring and consultation with OST and/or the Board, may invite selected Vendors to make virtual or in-person oral presentations for one or both service categories, as applicable, to the Evaluation Team. Presentations are tentatively scheduled for the week of January 25-29, 2027. Any costs associated with oral presentations will be borne by the Vendor. The State requests that all individuals who are expected to be assigned to this engagement be in attendance.

The Evaluation Team may request that finalists submit best and final pricing proposals as part of oral presentations and revise scoring based on such pricing or other information received in connection with oral presentations. The reasons for and results of any such re-scoring shall be documented in writing and made part of the procurement file.

7. Formal Contract

A Vendor selected as a finalist and invited via written notification from OST (the

“Invitations”) to enter into negotiations will be expected to enter into a formal contract with

OST in the form of the PSA attached here to as Appendix A (the “Contract”). The PSA shall control over any Vendor forms submitted for consideration. Vendor’s attempt to negotiate pricing or other material Contract terms that were not disclosed and detailed in the Vendor’s response or in connection with an oral presentation may result in the termination of negotiations with, and/or the disqualification of, such Vendor.

OST may require the Vendor with whom the agency is negotiating to execute a truth-in-negotiation certificate stating that the rates and other costs supporting the compensation are accurate, complete and current at the time of contracting. Pursuant to 29 Del. C. § 6982(b)(3), the Contract must provide that the original Contract price and any additions thereto shall be adjusted to exclude significant sums where OST determines that the contract price was increased due to inaccurate, incomplete or noncurrent rates or costs. All such Contract adjustments shall be made within 1 year following the end of the Contract.

A. Modification of PSA

OST, in its discretion, may consider and accept proposed modifications or additions to the PSA, whether or not raised in an exception, subject to necessary Board approval.

B. Time Frame

A Vendor who receives an Invitation must execute a Contract within twenty (20) business days from the date of the Invitation, unless such period is extended by OST, in its discretion. If no Contract has been executed by the applicable deadline, OST may in its discretion cancel the Invitation and enter negotiations with another Vendor.

C. Inception of Services

Absent OST’s prior written request or approval, no Vendor is to begin providing services prior to the issuance of an Award.

D. Cancelation of Award

If a Vendor that receives an Award fails to commence providing consulting services when due under the Contract, OST, without liability, may cancel and annul the Award and terminate any Contract. In such event, an Award under this RFP may be made to another Vendor.

E. Collusion or Fraud

Vendors may not restrain competition by agreement to offer a fixed price, or otherwise.

By responding to this RFP, each Vendor shall be deemed to have represented and warranted that: (i) its proposal is not made in connection with any competing Vendor submitting a separate response to this RFP; (ii) its approval is in all respects fair and without collusion or fraud; (iii) the Vendor did not participate in the RFP development process and had no knowledge of the specific contents of the RFP prior to its issuance;

and (iv) no employee or official of the State, the Board or OST participated directly or indirectly in the Vendor’s proposal preparation.

If at any time, whether prior to or after the issuance of an Award, OST determines that any of the foregoing representations was untrue when made or subsequently became untrue, OST may, without liability, cancel and annul the Award and terminate any

Contract. In such event, an Award under this RFP may be made to another Vendor.

F. Lobbying and Gratuities and Contingency Fees

As required by 29 Del. C. § 6903(b), the successful Vendor is deemed to have sworn under oath that the Vendor has not employed or retained any company or person to solicit or secure a Contract by improperly influencing OST or the Board in this procurement process. In addition, the Vendor represents and warrants that it has not directly or indirectly paid or agreed to pay any person, company, corporation, individual or firm, other than a bona fide employee working primarily for Vendor, any fee, commission, percentage, gift or any other consideration contingent upon or resulting from an Award or Contract.

For breach or violation of the foregoing oath, representation or warranty, OST, in its discretion and without liability, shall have the right to cancel and annul any Award and terminate any Contract, or deduct from the Contract price or otherwise recover the full amount of such commission, percentage, brokerage or contingent fee.

G. Solicitation of State Employees

During the RFP process and for the term of the Contract, Vendor shall not, directly or indirectly, solicit any employee of OST to leave OST’s employ in order to accept employment with the Vendor, its affiliates, or any person acting in concert with

Vendor, without prior written approval of OST. VIII. Attachments and Appendices

The following items are provided for use in your response. Attachments are required forms to be submitted with your proposal as described in this RFP. Appendices are provided as additional detail or information to assist in your proposal response.

Attachments

Attachment 1 Vendor Questionnaire

Attachment 2 Confidential Information Form

Attachment 3 Exception Form

Attachment 4 Business References

Attachment 5 Requirements Matrix (Attached excel file)

Attachment 6 Schedule of Fees (Attached excel file)

Appendices

Appendix A Form of Professional Services Agreement

Appendix B Scope of Services

Appendix C Cash Management Policy Board Guidelines

State of Delaware 20 TRE26202-LOCBANKSATM

Attachment 1: Vendor Questionnaire

CONTRACT NUMBER: TRE26202-LOCBANKSATM Vendors shall respond to each question in the order presented below. Responses should be clear, concise, and sufficiently detailed to allow the State to evaluate the Vendor’s capabilities. Where applicable, Vendors should identify any limitations, additional costs, dependencies, or requirements associated with the proposed service.

If a question is not applicable to the Vendor’s proposed services, the Vendor shall indicate “Not Applicable” and provide a brief explanation.

SERVICE CATEGORY

Vendor shall indicate the service category or categories for which it is submitting a proposal:

☐ Local Banking Services

☐ ATM Services

☐ Both Local Banking Services and ATM Services

Vendors shall respond to all questions applicable to the selected service category or categories. Where a question is not applicable, the Vendor shall indicate “Not Applicable” and provide a brief explanation, as appropriate.

A. VENDOR BACKGROUND, EXPERIENCE AND FINANCIAL STRENGTH

1. Firm Background

• Provide a brief history of the Vendor, including the year established, ownership structure, and primary lines of business.

• Identify any pending or announced mergers, acquisitions, divestitures, ownership changes, or other material organizational changes that may affect the Vendor’s ability to provide the services contemplated by this RFP.

2. Government and Public-Sector Experience

• Describe the Vendor’s experience providing the service category or categories…