BC3 trustees set to choose bank
BUTLER TWP — The finalists in Butler County Community College's search for a new bank are Northwest Savings Bank of Warren; Dollar Bank of Pittsburgh and Cleveland; and Farmers National Bank of Emlenton.
BC3's board of trustees will award the account today at its meeting at BC3@Lawrence Crossing in New Castle.
BC3 issued a request for proposals for banking services in early August after it was told that Northwest Savings would buy NexTier of Butler, where the college has $5 million.
The college issues a banking request for proposals periodically, said Jake Friel, BC3 controller. BC3 had planned to issue the request later this year to complete the process by the start of its fiscal year on July 1, 2011, but decided to move more quickly after learning of the banking change.
"If we were going to have some conversion of our accounts, we decided it was a good time to review our banking relationship," Friel said.
The request for proposals was sent to 10 banks and nine replied, he said.
"NexTier has been a fabulous partner, but there comes a time when you have to go to the marketplace and this was the time," Friel said.
In addition to its account at NexTier, BC3 has holdings at Citizens Bank of Pennsylvania, headquartered in Pittsburgh and Philadelphia, and First National Bank in Hermitage.
Friel said his overriding concern is that BC3 receives the maximum value from its banks.
"It's a very competitive environment for banking right now," Friel said.
