Winfield council moves to 12-month Citizens Bank CD after sealed bids

Winfield City Council reviewed sealed bids for certificate of deposit number 59859 and moved to accept Citizens Bank's 12‑month offer at a reported 4.35% interest rate.

The presiding speaker summarized bids received from local banks and the recommended option, noting State Bank & Trust offered a 6‑month fixed rate of 4.06% and a 12‑month fixed rate of 4.01%; Citizens Bank offered 4.25% for six months and 4.35% for 12 months. The presenter recommended accepting the 12‑month term. "My recommendation to do the 12 month," the presiding speaker said during the discussion.

Councilor Chris made the motion to proceed with Citizens Bank for a 12‑month CD; the motion was seconded and the council approved the motion by voice. The presenter identified the principal amount associated with the bid as $2,100,446.27. No detailed roll-call tally was recorded on the agenda text.

The council did not record additional conditions on the acceptance; staff will proceed with the administrative steps necessary to finalize the CD placement. The action concluded the sealed‑bid agenda item and the council moved on to other business.