DB&T Pays City Over $2 Million in Interest

Dubuque Historic Federal Building

The City of Dubuque and Dubuque Bank and Trust (DB&T) have collaborated to successfully resolve issues related to interest earnings owed to the City.

DB&T recently paid the City just over $2 million dollars in interest earnings following a review of a banking services agreement between the City and DB&T from 2007 to present and the City’s accounts covered by that agreement.

Following a competitive selection process that included eight different banking proposals, the City recently awarded a new banking services agreement to DB&T.  It was during the preparation of the new banking services recommendation at a City Council meeting in November City staff identified the discrepancy from the agreement in place.  It was brought to DB&T’s attention and quickly resolved.

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