Banking Services

The City of Pasadena (City or Pasadena) is seeking professional Banking Services from qualified firms as outlined in this RFP. The scope of this solicitation will encompass all general and payroll accounts.

The financial institution must be a federal or state-chartered banking entity as defined in the State of California Government Code and be a qualified depository of public funds pursuant to California Government Code Section 53648. The institution must collateralize the City's deposits pursuant to all applicable sections of the California Government Code as well as enter into a collateralization agreement for public funds. The institution must have at least a "satisfactory" Community Reinvestment Act (CRA) rating and have at least a satisfactory rating from a nationally recognized bank rating service. The proposing financial institution must also have a full-service branch location within the limits of the City of Pasadena and provide a dedicated governmental services unit.

Background

Pasadena is a Charter City, incorporated in 1886, and operates under a Council-Manager form of government. Pasadena is an ethnically diverse community that is home to approximately 140,631 people making it the 183rd -largest city in the United States. Pasadena is the ninth-largest city in Los Angels County. It is one of the primary cultural centers of the San Gabriel Valley. The City covers approximately 22.5 square miles, with an average of ten residents per acre. The median age of its residents is approximately 36.9 years. There are over 100,000 jobs in a wide variety of industries in the City of Pasadena.

The City of Pasadena currently maintains is primary commercial banking Relationship with one depository institution. In Fiscal Year 2025 (July 1 2024-June 30, 2025) the City total spending budget was $1.5 billion. The City averaged approximately $1 million per day in credit transactions and an approximate equal amount of total debit transactions.

The intent of this competitive selection process is to provide qualified financial institutions an equal opportunity to submit a proposal to provide services for the City's extensive banking operation.

Project Details

• Reference ID: 2026-RFP-0051
• Department: Finance Department
• Department Head: Matthew E. Hawkesworth (Director)

Important Dates

• Questions Due: 2026-06-29T19:00:00.000Z

Addenda

• Addendum #1 (released 2026-06-22T20:43:05.419Z) —

  Please use the See What Changed link to view all the changes made by this addendum.

Evaluation Criteria

• System Requirements (10 pts) —

  Points will be assigned based on Ease of Use; Mobile Capability/Support; Data Queries and Reporting; Support and Maintenance; Integration with existing systems; Training and Documentation; Software and Workflow Requirements.

• Product Demonstration (10 pts) —

  Points will be assigned based on how effectively and efficiently the product can fulfill the requirements in the SCOPE OF WORK. The demonstration will be scored based on it's ability to successfully demo a Script of agreed upon items including but not limited to: System overview; Menus; Features; System navigation; Customization capabilities; Reports; Security features; and Support.

• Proposed Solution (40 pts) —

  Points will be assigned for “Functional and Technical Merit” based on the capability of the proposer to satisfy the City requirements identified in the SCOPE OF WORK and as delineated. Points will be assigned for “Completeness of Proposed Solution” based on the vendor submitting a proposal that follows the guidelines specified in the SCOPE OF WORK.

  Service/Products and Ability to Meet Operational Requirements.

  • Vendor’s ability to meet and satisfy the City’s banking requirements and the Vendor’s ability to enhance the City’s treasury operations through additional services.
  • Secured Online Portal-Vendor’s demonstrated level of robustness, quality, ease to use and security control of its bank portal.
  • Customer Support-Vendor ability to provide a relationship management team with experienced customer support agents and online service and support capabilities.
• Experience and References (20 pts) —

  Points will be assigned for “Experience with Projects of this Size and Scope in an Agency of Similar Size” based on a vendor’s previous experience with municipal agencies, as delineated in the SCOPE OF WORK, and CLIENT REFERENCES. Relevant experience, and technical expertise of the Proposer and service providers (if allowed) to perform the work. Points will be assigned based on references that named professionals are responsive to requests for analyses and information, have met or exceeded all performance expectations, and would be contracted with again. Nature and quality of completed work for other governmental agencies.

  • Vendor Experience and Reference-Vendor’s reference checks and experience in banking with government agencies.
  • Financial Strength- Points awarded based on an evaluation of vendor’s financial strength and condition to serve as a depository agent for the City.
• Company Staffing Assigned to the Project (10 pts) —

  Points will be assigned based on an implementation timeline and milestone plan in the form of a Gantt chart that includes but is not limited to dates for installation, training, project rollout, and payment milestones.

• Proposed Schedule (10 pts) —

  Points will be assigned for the proposed schedule to complete the project. .

• Cost Proposal (30 pts) —

  Points will be assigned based on a “Ratio Method.” The proposer’s cost must include the delivery of the proposed solutions, as well as any recurring costs (if any) as delineated in the Scope of Work and the PRICE PROPOSAL.

  With this method, the proposal with the lowest cost receives the maximum points allowed. All other proposals receive a percentage of the points available based on their cost relationship to the lowest price. This is determined by applying the following formula:

  Lowest Price / Evaluated Price X maximum points available = Awarded Points

  Example: The cost for the lowest proposal is $100,000. The next lowest proposal has a cost of $125,000. The total points available for cost = 30 points.

  ( $100,000 / $125,000 ) X 30 = 24 points

• Local Pasadena Business (5 pts) —

  To be awarded a 5 point preference for this category, the proposer must have an official business address within the City of Pasadena at the time that this RFP is posted on the City’s Website.

• Small or Micro-Business (5 pts) —

  To be awarded a 5 point preference for this category, the proposer must be certified by the State of California as a small or micro-business. Refer to the State of California Department of General Services Division for further information. https://caleprocure.ca.gov/pages/sbdvbe-index.aspx

Submission Requirements

• Acknowledgements
• Proposer Certification (required) —

  By submitting this bid the proposer hereby certifies under penalty of perjury of the laws of the State of California that all representations made in the documents that comprise the proposal for Banking Services due on Thursday, July 9, 2026 are true and correct to the best of my knowledge at the time of the proposal’s submission.

  By confirming, the vendor is acknowledges the following:

  • We have reviewed and agreed to all of the documents contained in this solicitation and understands that the City will not be responsible for any errors or omissions on the part of the vendor in making up this bid or proposal.
  • The representations herein are made under penalty of perjury.
  • We hereby offer to sell the City of Pasadena the materials, products, and/or services at the prices shown and under the terms and conditions included hereon or attached or referenced.
• CONTENTS OF PROPOSAL —

  The entire proposal must be formatted on standard-size 8½”x11” pages; 12 point font only. The "Technical Proposal," "Additional Data," and "Statement of Qualifications" can be no more than 100 grand total pages.

• Mandatory Content (required) —
  • Cover letter 
  • Table of Contents, Statement of Qualifications and/or Experience including Technical Proposal
  • Relevant Experience Form
  • Price Proposal
  • Required Forms 
  • Additional Data (if applicable)

  Subsequent to the closing of this solicitation, the selected vendor will be required to provide the following documents within 10 calendar days of being notified, otherwise the submitted proposal may be deemed non-responsive.

  • Request for Tax Payer Identification Number and Certification (IRS Form W-9)
  • Pasadena Business License (if required)
  • Any Required Licenses or Certifications
  • All Insurance Required by this Solicitation (If Required) #Insurance Requirements
• Cover Letter (required) —

  Upload your Cover Letter:

  “Cover Letter” shall be a maximum one-page letter including the name and address of the organization submitting the proposal; whether the proposing firm is an individual, partnership, corporation or joint venture; and the name, mailing/e-mail addresses, and telephone/fax numbers the contact person who will be authorized to make representations for the organization.

• Technical Proposal & Statement of Qualifications (required) —

  Please include the Table of Contents, Technical Proposal & Statement of Qualifications in this section.

  TECHNICAL PROPOSAL” should demonstrate the PROPOSER’S full understanding of the SCOPE OF WORK and the effort needed to complete the Project on time and within the budget through the submittal of a proposed work plan including project deliverables (identify specifically and thoroughly for each portion of and phase). No pricing shall be included in this section.

  The TECHNICAL PROPOSAL shall include a proposed work schedule to indicate duration and completion dates, including the dates of Deliverables/Milestones and estimates of the amount of time to be spent with City Staff for the services outlined in the Scope of Work. 

  The TECHNICAL PROPOSAL shall also include the Statement of Qualifications which highlight your company’s most applicable products, services, and experience. 

  Proposer's Background 

  Each proposer shall be skilled and regularly engaged in the general class or type of work called for in this RFP. The proposer's background and experience shall be set forth and submitted as follows:

  •  Company ownership. If incorporated, cite the state in which the company is incorporated and the date of incorporation.
  •  Name, address, email address and telephone number of the proposer's point of contact for this project.
  • Provide an organizational chart and list of key personnel dedicated to the relationship, including name, position and location. Provide a description of their experience and qualifications.
  • Describe the financial institution's experience in providing the requested services to the public sector, including the length of time.

  The entire proposal must be formatted on standard-size 8½”x11” pages; 12 point font only. The "Technical Proposal," "Additional Data," and "Statement of Qualifications" can be no more than a grand total of 100 combined.

• Relevant Experience Form (required) —

  Complete and submit the attached Relevant Experience Form with your bid to demonstrate experience with projects of similar scope and size to that which is to be performed.

  Client References

  Proposer shall provide a minimum of three references from California public sector entities for which the proposer has provided similar services within the last three years. Information provided shall include:

  •    Client name, contact, address, telephone number and email address.
  •    Type of service provided to the client.
  •    Start and end dates of service.
  •    Bank staff assigned to the project.

• Separate Price Proposal Submittal: —

  PRICE PROPOSAL shall be submitted in this upload apart from the proposal.  Reference PRICE PROPOSAL.

  Each Proposer must submit a Price proposal containing all costs associated with the technical proposal. Using the Price Proposal tables in this RFP, provide Proposer’s unit pricing for performing all services and work called for in the SCOPE OF WORK.

• Additional Data (if necessary) —

  “Additional Data” shall include any other data the PROPOSER deems essential to the evaluation of the proposal, i.e., letter of reference, other related projects, etc., or other required documents.

  The entire proposal must be formatted on standard-size 8½”x11” pages; 12 point font only. The "Technical Proposal," "Additional Data," and "Statement of Qualifications" can be no more than a grand total of 100 combined.

• Preferences (if applied)
• Is your company currently certified with the State of California Department of General Services (DGS) as a Small or Micro Business? (required) —

  If this preference is applied to the solicitation, and your company is seeking this preference, you must provide a copy of the certification from DGS.

• Please upload a copy of your Current California DGS Certification (required)
• Is your company currently located within the boundary of the City of Pasadena? (required)
• Please upload a copy of your Company's Pasadena Business License (required)
• Copy of License or Certification (required) —

  Please upload a copy of your: TBD

• California Department of Industrial Relations Registration Verification (required) —

  Solely for the purpose of verification. Please enter your Public Works Contractor Registration Number. This will be verified against the state database for the Department of Industrial Relations Registration.

• REQUIRED CERTIFICATIONS (FORMS) —

  Please download, complete and submit any required forms below.

• Disclosure of Contracts with the U.S. Department of Homeland Security (DHS) (required) —

  Disclosures:
  Respondents are invited to disclose any current contracts, subcontracts, or agreements with DHS, including any related data-sharing arrangements.  If provided, respondents may include:

  • DHS agency or sub-agency (if applicable)
  • General description of services
  • Whether data-sharing with third parties is involved

  If no such relationships exist, respondents may indicate “No.”
  
  Questions related to the disclosure shall be asked and answered through the solicitation Question and Answer process. The completed disclosure form will be reviewed by and shared with the City Manager’s office.  Please upload this form as part of the submittal checklist and email a copy to CMOContractsAssessement@cityofpasadena.net.

• AA1; AA2; AA3; SIGNATURE & LEGAL STATUS; AND DECLARATION OF NON-Collusion (required) —

  If your proposal does not include all of the below items, it may be deemed non-responsive.

  • Each PROPOSER must submit a completed Form AA-1. Failure to submit this form will result in automatic disqualification with no exceptions unless PROPOSER has an approved form on file with the City.
  • Form AA-2 is required to be submitted for projects involving labor or services in excess of $25,000.
  • Form AA-3 is Optional. (Copies attached)
  • A completed and signed "Declaration of Non-Collusion." (Copy attached)
  • SIGNATURE & LEGAL STATUS (Copy attached)

  • Evidence of certification by State of California as a small or micro-business, if claiming such preference – https://caleprocure.ca.gov/pages/PublicSearch/supplier-search.aspx

• Conflict of Interest (required) —

  Please download the below documents, complete, and upload.

• Taxpayer Protection Amendment Disclosure (required) —

  Please download the below documents, complete, and upload.

  ADDITIONAL REQUIREMENT

  For RFP/RFQ where the selected vendor/contract will require City Council approval (check with City project manager for clarification), the following requirement applies:

  • TAX PAYER PROTECTION ACT – PROPOSER SUBMITS A COPY OF THE COMPLETED TPA FORM TO THE CITY CLERK’S OFFICE

  E-MAIL: OfficialRecords-CityClerk@Cityofpasadena.net

• Designated Representative (required) —

  Please download the below documents, complete, and upload.

• Consultant Listing —

  Please download the below documents, complete, and upload.

• Technical Questionnaire Form —

  This form is only required for the purchases of technology. If selected, proposers will be required to complete the Pasadena Department of Information Technology Technical Questionnaire. The questionnaire is included in the #Attachments. When completing the questionnaire, please note:

  • Section 4.0 must be completed for externally hosted/SAAS applications; and
  • Section 5.0 must be completed for City hosted/on-premises software
• Data Security for Printers/Copiers/Scanners (required) —

  In order to comply with the section named “Data Security for Printers/Copiers/Scanners,” My company will:

• Federal Forms
• Federal Required Certification (required) —

  Please download the below documents, complete, and upload.

• Unique Entity Identifier (required) —

  Please download the below documents, complete, and upload.

• PROOF OF AUTHORITY
• Proof of Authority - Identity Confirmation (required) —

  Please download the below documents, complete, and upload.

• Proof of Authority - Incumbency Certificate (required) —

  Please download the below documents, complete, and upload.

• Proof of Authority - Certificate of Secretary —

  Please download the below documents, complete, and upload.

• Proof of Authority - Resolution (required) —

  Please download the below documents, complete, and upload.

• HUD REQUIREMENTS
• HUD Federal Forms (under $200k) (required) —

  In addition to the items listed above, the following list is provided for the convenience of both you and the City and to help eliminate errors and omissions which may render your bid unacceptable. The following forms are required to be submitted with your bid: https://www.cityofpasadena.net/finance/wp-content/uploads/sites/27/HUD-Federal-Forms-under-200k.pdf?v=1674593673378

  HUD Federal Forms (under $200k)

  • Worker’s Compensation Certification
  • Federal Lobbyist Certification
  • Non-Segregated Facilities Certification
  • Past Performance Certification
  • Notice of Equal Employment Opportunity
  • List of Proposed Subcontractors
• HUD Federal Forms (Over $200k) (required) —

  In addition to the items listed above, the following list is provided for the convenience of both you and the City and to help eliminate errors and omissions which may render your bid unacceptable. The following forms are required to be submitted with your bid: https://www.cityofpasadena.net/finance/wp-content/uploads/sites/27/HUD-Federal-Forms-over-200k.pdf?v=1674593673378

  HUD Federal Forms (Over $200k)

  • Worker’s Compensation Certification
  • Federal Lobbyist Certification
  • Non-Segregated Facilities Certification
  • Past Performance Certification
  • Notice of Equal Employment Opportunity
  • List of Proposed Subcontractors
  • Section 3 Business Concern
  • Business Concern Affirmation
  • Notice of Section 3 Commitment
  • Section 3 Economic Opportunity Plan
• Active SAM Registration (required) —

  All vendors responding to this solicitation must provide a copy of their Active SAM Registration with their proposal.

• Funding
• How is this Procurement Funded? (required) —

  Select a general funding source

• Confirm requirements from the Grantor are Satisfied (required)
• Please include the full name of the funding agency (not the program): (required) —

  For Example: "Homeland Security"

• Amount of Award from HUD was: (required) —

  This amount is the dollar value of the award from HUD. Contact Housing if you have questions.

• Setup
• Include a Sample Price Proposal? (required)
• Does this procurement include any of the following (check all that apply)
• Has DoIT approved your specifications? (required)
• Has BSFMD approved your specifications?
• Type of Technology Included (required) —

  Goods/Equipment, Services, SAAS, Printers, Copiers/Scanners)

• How many grand total pages should be included in the "Technical Proposal," the "Additional Data," and the "Statement of Qualifications" combined? (required)
• Are there any License or Certification Requirement? (required) —

  This particular question is to be answered for the company (or their subcontractors) not their employees.

• License or Certification Type: (required) —

  Please enter the specific License or Certification required to be eligible to compete on this solicitation. For example, "CPA - Certified Public Accountant."

• Is this a License from the State of California Licensing Board? (required)
• Does this procurement include buying a public work? (required) —

  State of California Definition: Construction, alteration, demolition, installation, or repair work done under contract and paid in whole or in part out of public funds. It can include preconstruction and post-construction activities related to a public works project.

• Is experience required to be eligible to compete on this solicitation? (required)
• Evaluation Criteria
• Select Evaluation Criteria to Include —

  Choose your evaluation factors. Below are example factors you can consider for your Evaluation Criteria. It is important that your actual evaluation of proposals is consistent with the factors and criteria you include in the RFP document. You will be able to add or edit any custom criteria along with the point values (using a 100-point-scale) while you are editing the Evaluation Section of this project.

• Contract Terms
• Base Contract Duration: How many years will be included for the base contract? (required)
• Optional Renewals: How many one-year optional contract renewals will be included with the contract? (required)
• Award Method? (required) —

  General definitions and parameters of each approach.

  • Award to the Winner: This is a traditional public procurement where the winning bid or proposal is selected based on the Lowest, Responsive and Responsible Bidder when using a Competitive Bid process; or the Highest Scored Proposal when using the Competitive Selection process.
  • Split Award: A “Split-Award” is designed to specify and distinguish separate Groups of awards based on separate specifications or Scopes of Work. A vendor can respond to any combination of the Groups provided they are responsive and responsible. Each Group is evaluated and awarded independently. Effectively, there could be a separate winner for each Group.
  • Back Up Vendor (RFPs Only): This method is intended to contract with a back up vendor in the event the winner is unable to fulfill the contract.
• FOR PUBLIC WORKS ENGINEERING ONLY
• Is this procurement required to comply with AIA requirements?* (required)