Banking Services

Caroline County, Maryland, through its Department of Finance, is soliciting proposals for comprehensive banking services via Request for Proposal (RFP# CCDF2026-01). The procurement seeks a Federal or Maryland-chartered bank to manage five existing county accounts, providing services including Remote Deposit Capture, ACH transactions, wire transfers, online information services, and positive pay service. Potential vendors must offer a dedicated banking officer as a primary liaison, develop a contingency service plan, and demonstrate capacity to handle significant financial volumes with an estimated monthly interest amount of $25,000,000. The county will evaluate proposals based on multiple factors beyond price, including understanding of services, bank capacity, professional competence, experience with similar banking services, cost structure, and local branch presence. Key procurement dates include a pre-bid meeting on September 25, 2025, at 10:00 am, a question submission deadline of October 1, 2025, by noon, a Q&A addendum release on October 7, 2025, and a final bid submission deadline of October 16, 2025, at 10:00 am, with bids to be publicly opened and read aloud at the County Courthouse.

The county explicitly encourages Certified Minority Business Enterprises to respond to this invitation and requires bidders to be federally insured financial institutions with either a local branch presence or capability to provide daily pickup service to the Tax Office. The initial contract term will be three years, with potential renewal options for two additional years, subject to annual funding availability through a non-appropriations clause. While no specific incumbent vendor is mentioned, the county currently maintains accounts with balances ranging from $32,000 to $53,000,000, primarily as business checking accounts with interest. The procurement includes comprehensive contract requirements mandating specific insurance coverage, including $2,000,000 in general liability insurance, and requires vendors to comply with local ethics provisions. Bidders must submit detailed affidavits and declarations regarding business practices, tax payments, potential conflicts, and legal compliance. The County Commissioners reserve the right to reject any or all submitted bids, maintaining flexibility in the selection process.