West Virginia Term Deposit Program

Dear Banking Community,

I am pleased to welcome you to the WV Term Deposit Program, the Board of Treasury Investments electronic bidding auction for term deposits. This program was designed by the Treasurer’s Office as an initiative to invest the state’s money back into West Virginia financial institutions and the West Virginia economy. The WV Term Deposit Program will ensure fairness, improve competitiveness in the placement of state funds and assist in our efforts to work jointly with the banking community to help West Virginia thrive. My office strives to be on the cutting edge of public finance and to find innovative ways to use limited resources to best serve our State. I look forward to your participation in this program and am confident it will have a meaningful impact in the communities we serve.

Sincerely,

West Virginia State Treasurer
and Chairman of the Board

Auction Results – March 31, 2025

Financial Institution

Winning Bids

EFFR

Spread

Total Rate

WesBanco Bank, Inc.

10,000,000.00

4.33%

-0.30%

4.03%

United Bank

9,800,000.00

4.33%

-0.35%

3.98%

Citizens Bank of WV

7,500,000.00

4.33%

-0.33%

4.00%

Citizens Bank of WV

2,500,000.00

4.33%

-0.33%

4.00%

The Citizens Bank of Weston

100,000.00

4.33%

-0.20%

4.13%

The Citizens Bank of Weston

100,000.00

4.33%

-0.20%

4.13%

CNB Bank, Inc.

2,500,000.00

4.33%

-0.34%

3.99%

CNB Bank, Inc.

2,500,000.00

4.33%

-0.32%

4.01%

CNB Bank, Inc.

2,500,000.00

4.33%

-0.30%

4.03%

CNB Bank, Inc.

2,500,000.00

4.33%

-0.28%

4.05%

See results of Inaugural Auction – March 29, 2024 here

Program Benefits

Rules & Instructions

Application Form

Collateral Requirements

Frequently Asked Questions

Tutorial

Term Deposit Program
Contact Information

Karl Shanholtzer

Chief Financial Officer

304-340-1590

Karl.Shanholtzer@wvbti.org

Holly Garner

Senior Investment Accountant

304-341-0733

Holly.Garner@wvbti.org

WV Board of Treasury Investments

Attn: Chief Financial Officer
315 70th Street SE
Charleston, WV 25304

304-340-1590

304-341-7095

tdprogram@wvbti.org

What is the WV Term Deposit Program?

The WV Term Deposit Program was created by the WV Board of Treasury Investments at the request of the State Treasurer to place deposits in approved West Virginia state depositories. Under this program, the BTI will offer state funds to state depositories through a competitive bidding process. All deposits placed through the auction must be fully collateralized.

Additional requirements:

All interested financial institutions must apply via the Application Form by March 26, 2025
$40 Million Available in total; One Year Term
Limited to a maximum of $10M per bank ($100k minimum bid)
Interest paid on a monthly basis

Who is Eligible?

To participate in the WV Term Deposit Program, a financial institution must be:

An approved Designated State Depository
Must be a financial institution registered, operating and doing business in the State of West Virginia
Be insured by an agency of the federal government and post collateral
Meet all other requirements of West Virginia Code and State Rules

Please contact the Banking Services Division of the WV State Treasurer’s Office for eligibility:
Angela Truman: Angela.Truman@wvsto.gov -- (304) 340-5035
Julie Hefner-Ferrell: Julie.Hefner-Ferrell@wvsto.gov -- (304) 340-2718

Why is investment in West Virginia important?

The State Treasurer places a strong focus on community investment that helps local businesses and residents thrive. Every effort is made to ensure access to the WV Term Deposit Program for institutions that rely on public and private deposits to lend and invest within their communities.