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Longview council opts for new contract for city’s bank account

Longview council opts for new contract for city’s bank account
Michael Cavazos
News
Wednesday, August 14, 2013 - 8:34am

Longview’s $43 million bank account will have a new home next year after the City Council unanimously chose last week to contract with Southside Bank instead of renewing a 10-year relationship with Capital One.

The bank, which will become the city’s primary depository, was one of three that vied for the business, along with Capital One and Chase Bank, for a five-year contract.

Factoring in fees and interest, the city will net about $760,000 during the five-year contract, according to city spokesman Shawn Hara. 

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