CITY OF CHICAGO
DEPARTMENT OF FINANCE
MEMORANDUM
To: City Council of the City of Chicago
From: Reshma Soni, City Comptroller
Date: December 12, 2019
RE: 2020 Municipal Depositary RFP
As required by Section 2-32-400 of the Municipal Code of Chicago, my office advertised in the Chicago Tribune and the Chicago Sun-Times on October 7, 2019 and October 8, 2019, inviting financial institutions to apply for status as municipal depositaries for the City of Chicago and for the Board of Education for the year 2020. My office also sent the 2020 Municipal Depositary Request For Proposals to certain banks.
Banks that responded to the Municipal Depositary Request For Proposals are as follows:
Amalgamated Bank of Chicago
Associated Bank, N.A.
Bank of America, National Association
BMO Harris Bank N.A.
Citibank, N.A.
Fifth Third Bank, National Association
JPMorgan Chase Bank N.A.
MUFG Union Bank, N.A.
PNC Bank, National Association
The Huntington National Bank
Wells Fargo Bank, N.A.
Zions Bancorporation, National Association
121 NORTH LASALLE STREET, ROOM 700, CHICAGO, ILLINOIS 60602
Banks that were sent the Municipal Depositary Request For Proposals by my office but which did not respond are as follows:
First Eagle Bank GN Bank Lakeside Bank
U.S. Bank National Association
American Eagle Bank
Bank of New York Mellon Trust
Beverly Bank and Trust Company N.A.
Byline Bank
Cathay Bank
Central Federal Savings and Loan Association
Community Savings Bank
Countryside Bank
Devon Bank
First American Bank
First Nations Bank
First Savings Bank of Hegewisch
Hanmi Bank
Liberty Bank for Savings
Marquette Bank
Midland Federal Savings and Loan Association
Mutual Federal Bank
Old Second National Bank
Pan American Bank and Trust
Peoples Bank
Pulaski Savings Bank
Royal Savings Bank
Signature Bank
South Central Bank
TCF Bank
Wintrust Bank, N.A.
The bids are available for review upon request. The list of banks that responded to the Municipal Depositary Request For Proposals is anticipated to be presented at the December 18, 2019 City Council meeting for subsequent consideration by the City Council. This memorandum serves as notice per Section 2-32-400 of the Municipal Code of Chicago.