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EXHIBIT 10.26
BOATMEN'S FUNDS MANAGEMENT DIVISION
FIRST NATIONAL BANK OF KANSAS CITY 10th and Baltimore
X.X. Xxx 000000
Xxxxxx Xxxx, XX 00000
FEDERAL FUNDS
AGENCY AGREEMENT
This agreement between Boatmen's First National Bank of Kansas City (Agent) and
Vectra Bank (Bank) is to be in effect until canceled or amended, and
establishes the procedures and conditions by which the Agent will arrange for
the sale of Federal Funds for the Bank.
1. The funds of the Bank will be sold to one or more of the banks
on the attached list as it may be amended from time to time.
All banks on the list will be rated B/C or better by Xxxxx
Bankwatch. The Agent is functioning only in an agency
capacity, and shall not be liable to the Bank if the funds or
interest are not repaid at maturity; that is to say the Agent
assumes no credit risk regarding repayment of funds upon
maturity.
2. The trade will be for one business day, observing the same
holidays observed by the Federal Reserve Bank of Kansas City.
3. The principal (on settlement date) and the principal and
interest (on maturity date) will be debited or credited as
appropriate to the Bank's demand deposit account at Boatmen's
First National Bank of Kansas City. The Agent will confirm
the Bank's order daily with a trade confirmation mailed to the
Bank with a list of specific banks to which the Bank's funds
were sold. Each business day, the Agent will sell the same
amount of the Bank's Federal Funds as was sold the previous
day unless the Agent receives notice from the Bank by 2:30
P.M. to change the total Federal Funds order.
4. Under normal circumstances, no sale to any one bank will
exceed the Bank's concentration of funds limit as set forth
below.
Agreed this 28th day of June, 1996.
BOATMEN'S FIRST NATIONAL BANK
OF KANSAS CITY (AGENT)
By /s/ Xxxx X. Xxxxxxxx
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Xxxx X. Xxxxxxxx, Vice President
VECTRA BANK
By /s/ Xxx X. Xxxx
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Xxx X. Xxxx, Chief Financial Officer
and Secretary
Concentration of funds limit___________________________
(Minimum of $100,000, additional increments of $50,000)
10.26-1
