Strafford County to award three-year banking contract to Mnt Bank after unanimous vote
June 25, 2026 | Strafford County, New Hampshire
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Strafford County commissioners voted unanimously to award a three-year banking and cash-management contract to Mnt Bank after the county finance director and treasurer recommended the bank following a review of five proposals.
Diane, identified in the meeting as the finance director, told commissioners the county received proposals from Bangor Savings Bank, Camden National Bank, Habibok Savings Bank, JP Morgan Bank and Mnt Bank and that she, Ray and Treasurer Pam Arnold reviewed the submissions. Diane said the review focused on annual pricing for a three-year agreement, where banks maintain branches and hours, and banks’ willingness to bid on short-term county borrowing such as tax-anticipation notes.
"They are waving all of their fees for three years, no banking fees, and no cost for banking supplies," Diane said, describing Mnt Bank’s proposal. She said Mnt Bank also proposed that interest on balances would begin at $1, a lower compensating-balance threshold than some other bidders proposed. Diane said those features, plus the banks’ history of bidding on financing, led the finance team to recommend selecting Mnt Bank.
The commission moved to adopt the recommendation and, after the chair called the question, voted to award the contract. The chair announced the award would go to Mnt Bank of banking services for the next three years. Meeting minutes and staff records provided after the meeting will document the formal motion and vote; the transcript does not record a named mover, seconder or a numerical roll-call tally in the public portion of the discussion.
A staff member said the county consulted the attorney general’s office about right-to-know rules for sealed bids and asked that certain bid documents be collected back from meeting attendees because they are not public records. During public comment a resident, Susan, asked to receive the agreement paperwork; staff agreed to provide a separate sheet with that information.
Next steps include finalizing contract details and notifying the awarded bank. Commissioners also planned to leave for a short executive session and then attend a 4 p.m. ribbon-cutting at a public safety training facility.
Diane, identified in the meeting as the finance director, told commissioners the county received proposals from Bangor Savings Bank, Camden National Bank, Habibok Savings Bank, JP Morgan Bank and Mnt Bank and that she, Ray and Treasurer Pam Arnold reviewed the submissions. Diane said the review focused on annual pricing for a three-year agreement, where banks maintain branches and hours, and banks’ willingness to bid on short-term county borrowing such as tax-anticipation notes.
"They are waving all of their fees for three years, no banking fees, and no cost for banking supplies," Diane said, describing Mnt Bank’s proposal. She said Mnt Bank also proposed that interest on balances would begin at $1, a lower compensating-balance threshold than some other bidders proposed. Diane said those features, plus the banks’ history of bidding on financing, led the finance team to recommend selecting Mnt Bank.
The commission moved to adopt the recommendation and, after the chair called the question, voted to award the contract. The chair announced the award would go to Mnt Bank of banking services for the next three years. Meeting minutes and staff records provided after the meeting will document the formal motion and vote; the transcript does not record a named mover, seconder or a numerical roll-call tally in the public portion of the discussion.
A staff member said the county consulted the attorney general’s office about right-to-know rules for sealed bids and asked that certain bid documents be collected back from meeting attendees because they are not public records. During public comment a resident, Susan, asked to receive the agreement paperwork; staff agreed to provide a separate sheet with that information.
Next steps include finalizing contract details and notifying the awarded bank. Commissioners also planned to leave for a short executive session and then attend a 4 p.m. ribbon-cutting at a public safety training facility.
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