Banking Services-Missoula Agencies

The State of Montana, through the Montana Acquisition & Contracting System (eMACS), issued an Invitation For Bid (IFB) for Banking Services for Missoula Agencies, identified by contract number DOA-IFB2016-0004V. The procurement sought a banking institution to process deposits for various state agencies located in Missoula, with a primary requirement to transfer deposits to the state's primary bank (US Bank) in Helena. Specific service requirements included processing various types of check deposits, including 7,200 local/clearing check deposits, 2,400 "on us" check deposits, 6,300 transit check deposits, and 1,440 total deposits. Additional services encompassed handling 36 return items, providing 60 night deposit books, 6 night deposit bags, and processing 240 debits. The bid was opened on October 5, 2015, at 5:00 PM MST and closed on October 15, 2015, at 2:00 PM MST, with a structured evaluation process focused on banking transaction services and fee structures. The bank was also required to provide earnings credit for daily collected funds, calculated at the previous month's average of the Effective Fed Funds Rate (less 25 basis points) or the 90-day T-Bill Rate, with credits to be applied against bank charges.

The solicitation did not explicitly mention specific set-aside designations or restrictions on respondent types. US Bank National Association was ultimately awarded the contract for $1,743.00, indicating a competitive bidding process with potentially limited restrictions on vendor participation. The procurement appeared to be structured to select a banking partner capable of efficiently managing deposit and transaction services for Missoula-based state agencies. While detailed budget ranges were not comprehensively outlined, the contract value of $1,743.00 suggests a relatively modest financial scope for the banking services. The requirement for earnings credit and specific transaction volume metrics indicates a sophisticated approach to managing banking services, with a focus on cost-effectiveness and comprehensive financial management for state agencies.