Management and Financial Services

04/13/2010
Fund: _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Department: ~F-"in~a!'.'n~ce'_=__:____:__=-__:::_:___c_------
Revenue: Contact: leanne Deloach, Finance Director
Expense: Phone: _ _ _ _ _ _ _ _ _ _ _ _ _ _ __
Line Code(s):
Motion: Second: D Consent [KJ Debate D Accept as Information D Executive Session D Presentation

ITEM: RFP for Banking Services

leanne Deloach, Director of Financial Services, will present the information and analysis associated with the
RFP for Banking Services. The recommendation for this RFP was initially planned to be presented at the March
th
9 MFS Committee meeting. However, the committee requested additional information associated with the
analysis of interest earnings. Please see attached information.

STAFF RECOMMENDATION: Staff recommends approval of item as presented.

COMMITTEE COMMENTS: Committee forwarded item to the April 20th debate agenda.

COMMITTEE RECOMMENDATION I MOTION: I make a motion to approve the information and analysis
associated with the RFP for Banking Services.
 FINANCIAL SERVICES
MEMO
To: Management & Financial Services Committee
From: Leanne C. DeLoach, Director of Financial Services~
SubJect: RFP for Banking Services
Date: April 13,2010

Attached please find information and analysis associated with the RFP for Banking Services.
The recommendation for this RFP was initially planned to be presented at the March 9th MFS
Committee meeting. However, the committee requested additional information associated with
the analysis of interest earnings. Attached please find the following:

1. An "Investment SUIIlIlIlUY"listing excess County funds placed with various financial

institutions outside of the requirements for the banking services contract.
2. Summary of rankings by proposer.
3. Presentation questions.
4. Evaluation Committee Ranking Fonn: Option 1
S. Evaluation Committee Ranking Fonn: Option 2

Option 1 is based on interest rates ~vided in the proposals based on today's economic
environment. Using these rates, 1 Citizens is the top ranked provider and GB&T is the 2'"
ranked provider.

Option 2 is based on forecasted interest rates provided provided by Jefferies over the initial term
of the contract. Using these rates, GB&T is the top ranked provider and I" Citizens is the 2'"
ranked provider.

Because of the volatility in the market, the forecast provided by Jefferies, and the proximity of
the banks to the County offices, staff recommends awarding the contract for banking services to
Georgia Bank & Trust for a 3 year period, with the option to renew for 2 additional 1 year
periods.
INVESTMENT SUMMARY
FEBRUARY 2010 Original MATURING NEXT
Financial Issue Maturity Interest
Institution Security Date Date Rate Amount

GENERAL FUND Wachovia Merrick Bank 12/1/2008 12/9/2010 3.50% $ 50,000

101 (cds) Capital One 12/1/2008 12/10/2010 3.75% $ 100,000
Greg Massey Sovereign Bank 12/1/2008 12/17/2010 3.75% $ 100,000
Alliance Bank 2/1/2009 2/27/2012 2.75% $ 100,000
Five Star Bank 12/1/2008 12/12/2012 3.75% $ 100,000
Sallie Mae Bank 12/1/2008 12/17/2012 4.10% $ 100,000
Capmark Bank 2/1/2009 2/19/2013 3.15% $ 100,000
Goldman Sachs 12/1/2008 12/10/2013 4.75% $ 50,000
GE Money Bk 12/1/2008 12/11/2013 4.75% $ 100,000
Goldman Sachs 12/1/2008 12/17/2013 4.75% $ 50,000
Amer Express Bk 12/1/2008 12/17/2013 4.75% $ 100,000
Morgan Stanley 12/1/2008 12/19/2013 4.75% $ 100,000
money market $ - (Mar 2010)
$ 1,050,000

SunTrust CD 04/02/2009 04/02/2010 1.49% $ 15,000,000

2004 GO Bond US Bank MM Goldman Sachs 5.03% $ 3,072,635 (Mar 2010)

341

SPLOST 06/10 GBT CD 9/28/2008 09/28/2010 2.05% $ 6,596,460

351 SunTrust CD 04/02/2009 04/02/2010 1.49% $ 10,000,000

2004 Water Bond US Bank MM Goldman Sachs 5.03% $ 1,863,982 (Mar 2010)
511

2007B GO Bond Queensborough CD 10/1/2007 04/01/2010 2.25% $ 10,674,167 <-- appears on US Bank statement
361

Water & Sewer GBT CD 07/28/2008 07/28/2011 2.48% $ 2,651,827

511 GBT CD 07/28/2008 07/28/2010 4.16% $ 2,500,000
GBT CD 07/28/2008 07/28/2010 1.50% $ 2,074,967
First Citizens Bank CD 04/07/2009 10/07/2010 2.05% $ 5,000,000

2009 GO Bond SunTrust Bank CD 03/20/2010 $ 15,000,000 <-- appears on US Bank statement
381 Regions Bank CD 09/27/2010 $ 11,000,000 <-- appears on US Bank statement
First Bank of GA CD 09/27/2010 $ 4,000,000 <-- appears on US Bank statement

SWM (Landfill) First Citizens Alliance Bank 04/13/2009 04/16/2010 1.25% $ 98,000
531 (cds) Amcore Bank 04/13/2009 04/20/2011 2.35% $ 98,000
Pat Fair Anchor Bank 04/14/2009 10/22/2010 1.85% $ 98,000
Appalachian Bk 04/13/2009 12/27/2010 1.50% $ 98,000
BMW Bank 04/15/2009 04/25/2011 2.30% $ 98,000
Bank Belleville 04/14/2009 10/15/2010 1.35% $ 98,000
Banner Bank 04/13/2009 10/22/2010 2.00% $ 98,000
Capital Pac Bk 04/13/2009 04/15/2011 1.75% $ 98,000
Capitol Natl Bk 04/13/2009 05/20/2010 1.05% $ 98,000
Capmark Bank 04/14/2009 04/25/2011 2.40% $ 98,000
Cit Bank Salt Lk 04/13/2009 04/14/2010 1.00% $ 98,000
Citizens St Bk 04/15/2009 10/25/2010 1.40% $ 99,000
Community Bk 04/13/2009 06/21/2010 1.10% $ 98,000
Comm South Bk 04/13/2009 10/21/2010 1.85% $ 98,000
Coronado First 04/13/2009 10/21/2010 1.35% $ 98,000
Decatur St Bk 04/13/2009 04/20/2011 1.90% $ 98,000
Discover Bk 04/13/2009 04/15/2011 2.30% $ 98,000
Evergreen Bank 04/13/2009 04/23/2010 0.90% $ 98,000
Far East Natl Bk 04/13/2009 04/16/2010 1.05% $ 98,000
First Cherokee 04/13/2009 04/15/2011 2.10% $ 98,000
First Finl Bank 04/13/2009 04/22/2011 1.75% $ 98,000
First Natl Bank 04/13/2009 04/22/2011 2.40% $ 98,000
First Peoples Bk 04/13/2009 12/22/2010 2.00% $ 98,000
First South Bk 04/15/2009 10/25/2010 1.50% $ 98,000
Five Star Bank 04/13/2009 10/22/2010 1.45% $ 98,000
Freedom Bank 04/13/2009 04/18/2011 2.10% $ 98,000
GE Capital Finl 04/13/2009 04/18/2011 2.35% $ 98,000
Greystone Bank 04/14/2009 04/20/2011 2.00% $ 98,000
Hillcrest Bank 04/14/2009 02/24/2011 1.95% $ 98,000
Key Bank 04/14/2009 04/25/2011 2.05% $ 98,000
Metrobank 04/15/2009 04/25/2011 2.00% $ 98,000
Minnwest Bank 04/13/2009 04/17/2011 1.90% $ 98,000
Monroe Bank 04/14/2009 04/18/2011 1.90% $ 98,000
Mutual Svgs 04/15/2009 04/29/2011 2.00% $ 98,000
Park Sterling Bk 04/13/2009 04/18/2011 1.85% $ 98,000
Parke Bank 04/13/2009 04/21/2011 1.90% $ 98,000
Premier Bank 04/13/2009 07/15/2010 1.25% $ 98,000
Proficio Bank 04/13/2009 07/23/2010 1.00% $ 98,000
R G Premier Bk 04/13/2009 08/16/2010 1.85% $ 98,000
R G Premier Bk 01/07/2010 04/15/2011 1.40% $ 104,000
Republic Bank 04/13/2009 04/18/2011 2.15% $ 98,000
Royal Bank 04/13/2009 07/22/2010 1.30% $ 98,000
Savings Bank 04/13/2009 04/22/2010 1.00% $ 98,000
Shorebank 04/13/2009 04/15/2011 2.10% $ 98,000
Sterling Svgs 04/13/2009 07/16/2010 1.25% $ 98,000
Washington Tr 04/15/2009 10/25/2010 1.45% $ 99,000
Westernbank 04/13/2009 04/15/2010 1.65% $ 98,000
$ 4,614,000
 RFP Proeess Data, Evaluation & Recommendation
Procurement Department
Dept requesting RFP: FJn.nce Dept Head: Le8llDe DeLoach Date: 01113/10
RFP#: 101Q..90S RFP Quantity: N/A RFP ltem(s): B"kIp,!!eryIm (or the County &: Water UtIHty
Advertised: Legal Organ (Columbia County News Times), Date(s): J",m 14 &: 31. 1010
Vendors invited: Opllne + 16 Loeal ,."""" Jmt!tntioDs With:!Z Responding
RFP Opening: Time 1:00 PM Date: PI1110 Location: Prngmmmt o.!!!!hwt Attendees: n
Verified RFP RaultI· .
FINAL FINAL INITIAL RANKING
VENDOR RANKING RANIaNG SO POINTS MAX COMMENTS
Dation 1 0aticJD 2
1. First CldzeD, B..corporation- TbiD or 1% Interest Rate
88.33 83.04 36.83 MlDlmum of 1%
Martinez, GA
FF'RfI'IdJl + .75% IDterelt Rate
2. GA Buk 8. Trait - Augutta, GA 73.45 92.00 39.so Mfabnam of 0.75%
MoJltllly IeI'Yiee waived
3. Wachovis - A......... GA 35.38 41.89 37.67 .4% InUnst Rate
4. SunTrust - Augusta, GA N/A N/A 27.00 Not Shortlistcd
Did not offer a local Jepteaentativc.
5. Bank of America - Atlanta, GA N/A N/A 26.33
Not Shortlisted
Issues with past customer service.
6. Regions - Evans, GA N/A N/A 25.33
Not Shortlisted.
Proposed on Water Utility
7. First Tennessee Alpharetta, GA N/A N/A N/A Accounts Receivables ONLY.
Not Shortlistcd.

Evaluation Panel Recommendation: Award to the Welt r!J!W nroyJder. Flnt

Cit!zeD! (or the County', !!!!!!Inp y d Geonda
Benk yd Tmt for the Wet,. Utility DOJ1:Iop.
Departmentallnltruetlon, - Approval of Award 1 Expense Threshold Process

$20,000 8iid greata' Division Manager

Oversight Committee
Board of Commissioners

Agree with Procurement recommendation:

*Proceed with approval process noted above.

Disagree with Procurement recommendation:

* NotifY Procurement in writing as to reason(s)

* Document position and make it a part of the agenda item

Note: lbis document is to be made a part of the agenda item submitted to any oversight
committee and Board of Commissioners.

Glenn O'Steen, MBA

Procurement Manager
Discussion questions/topics for Banking Services RFP:

1. Please thoroughly explain and IlIustrMe your method used for calculating service charges and
Interest earned. For comparative purposes, use the following balances for the month of March:

General accounts:

Average ledger balance· $23,415,263

Average collected balance = $23,349,583

Water accounts:

Average ledger balance = $7,511,013

Average collected balance = $7,433,109

2. I would like to thoroughly discuss the conversion process.

3. Please explain your fraud protection services.
4. Be prepared to demonstrate your on-line banking services.

®
 COLUMBIA COUNTY BOARD OF COMMISSIONERS
RFP # 2010-005: BANKING SERVICES
Ranking Form
Option 1
EVALUATORS:
Leanne DeLoach - Finance
Debra North - Finance
Billy Clayton - Water Utility
Phyllis Swain - Commissioners Office

VENDORS

POSSIBLE FIRST GA BANK

QUESTIONS POINTS WACHOVIA
CITIZENS & TRUST

Methodology, Approach & Technique 20 16.67 16.67 12.00

Qualifications & Experience 15 10.50 13.50 12.00

Company Stability 10 7.00 7.67 6.67

Responsiveness to RFP 5 4.17 4.17 3.67

BASE SCORE - Prior to factoring in price 38.33 42.00 34.33

LUMP SUM COST - Total Interest Earned $298,097.00 $230,870.00 $73,236.00

(See attached Cost Comparison for more detail)

POINTS ATTRIBUTED TO COST 50.00 38.72 12.28

(Proposed interest earned / by highest interest earned X 50 pts)

TOTAL POINTS (Max 100 possible) 88.33 80.72 46.62

Highest Score Recommended
 Colambia Couaty Board of Co.........o.en
RFP# 2010..5: a.aldall SenIces
COlt ComparlsoD

FlntOdzeal GA Baak" Trult Wao""

Couty
A"I CoIlec:tod Balance $23,349,583 $23,349,583 $23,349,583
Moathly Service Cbatxe SSOO VIlli""" $1,962
~ating BaImc:e* $502,000 54,000,000 54,620,196
ADDIII1_ Rate 91-Dty rr-ay Bill Rate greater of90-Dty Thill .. Fed Funds Rate + 0.25% Bonk IlIIIIIIgOd _ subject to chaDge
FIocndRate 1.00% .75% .4%
Fonnula (avg coli bal-camp bal)*nId365"1# of days in paiod _vg coil bIl*nld36S"I# of days in paiod (avg coil bIl...... bal)*nId36S"I# of days in paiod
.u.dlb_ _
5118,476 S175,1ll 5'...,11

Water
Avg COUec:tod Balance $7,433,109 57,433,109 $7,433,109
MOIIIhIy Service Charge $777 Vlllivod $3,335
0_.. I' _"tina Balance
Rate $471,000 $2,000,000 $7,853,391
91-Dty TRIII8UrY Bill Rate greaterof90-Day Thill .. Fed Funds Kale + 0.25% Bank IlIIIIIIgOd _ subject to chaDge
FlocndRate 1.00% .75% .4%
Fonnula (_vg coil bIl-camp bal)*nld36S"I# of days in paiod _vg coli bIl*nld365"1# of days in paiod (avg coil bIl-camp bal)"raII>'365"1# of days in paiod
AlulaalbfereIt Earaed S69,Q1 555,748 -S1,6l1

ToQl 111_ Earned $230,870 $73,136

• Balance thai must be maintained to _ oervice charll'"

Nolo: fur ~ _ Suotrust _-Ii>d fimds _ I... 0.25% wid! _ Door of 0.25%
 COLUMBIA COUNTY BOARD OF COMMISSIONERS
RFP # 2010-005: BANKING SERVICES
Ranking Form
Option 2
EVALUATORS:
Leanne DeLoach - Finance
Debra North - Finance
Billy Clayton - Water Utility
Phyllis Swain - Commissioners Office

VENDORS

POSSIBLE FIRST GA BANK

QUESTIONS POINTS WACHOVIA
CITIZENS & TRUST

Methodology, Approach & Technique 20 16.67 16.67 12.00

Qualifications & Experience 15 10.50 13.50 12.00

Company Stability 10 7.00 7.67 6.67

Responsiveness to RFP 5 4.17 4.17 3.67

BASE SCORE - Prior to factoring in price 38.33 42.00 34.33

LUMP SUM COST - Total Interest Earned $1,300,448.00 $1,454,482.00 $219,708.00

(See attached Cost Comparison for more detail)

POINTS ATTRIBUTED TO COST 44.70 50.00 7.55

(Proposed interest earned / by highest interest earned X 50 pts)

TOTAL POINTS (Max 100 possible) 83.04 92.00 41.89

Highest Score Recommended
 Jefferies Interest Rate Forecast
Jefferies Economic & Interest Rate Forecast

Q1, 2009 Q2, 2009 Q3, 2009 Q4, 2009 Q1, 2010 Q2, 2010 Q3, 2010 Q4, 2010 Q1, 2011 Q2, 2011 Q3, 2011 Q4, 2011 Q1, 2012 Q2, 2012 Q3, 2012 Q4, 2012
Economic Forecasts
Real GDP (qoq % saar) -6.4% -0.7% 2.2% 5.9% 2.5% 2.0% 3.0% 4.0% 3.5% 3.5% 4.0% 4.0% 3.5% 4.0% 3.5% 4.0%
Unemployment Rate 8.2% 9.3% 9.6% 10.0% 9.7% 9.6% 9.4% 8.9% 8.5% 8.0% 7.5% 7.0% 6.8% 6.5% 6.3% 6.0%
CPI (yoy %) -0.1% -1.1% -1.3% 2.7% 2.6% 2.2% 2.2% 2.5% 2.5% 2.8% 2.9% 3.0% 3.1% 3.3% 3.3% 3.3%
PCE Inflation (yoy %) 0.2% -0.4% -0.6% 2.1% 2.1% 2.2% 2.2% 2.2% 2.3% 2.4% 2.7% 2.9% 3.0% 3.2% 3.2% 3.3%
Core PCE (yoy %) 1.7% 1.5% 1.3% 1.5% 1.5% 1.5% 1.6% 1.6% 1.8% 2.0% 2.3% 2.4% 2.4% 2.5% 2.4% 2.5%

Interest Rates (Quarterly Average)

Fed Funds 0.19% 0.18% 0.16% 0.05% 0.15% 0.15% 0.15% 0.15% 0.50% 0.75% 1.00% 1.25% 1.75% 2.00% 2.25% 3.00%
3-month LIBOR 1.24% 0.84% 0.41% 0.27% 0.25% 0.25% 0.55% 0.70% 0.95% 1.20% 1.45% 1.70% 2.20% 2.45% 2.70% 3.45%
3-month bill 0.20% 0.16% 0.15% 0.05% 0.12% 0.30% 0.50% 0.60% 0.85% 1.10% 1.35% 1.60% 2.10% 2.35% 2.60% 3.35%
2-year note 0.89% 1.00% 1.01% 0.86% 0.88% 1.00% 1.10% 1.25% 1.40% 1.80% 2.05% 2.30% 2.80% 3.05% 3.30% 4.30%
10-year note 2.66% 3.53% 3.31% 3.84% 3.75% 4.15% 4.35% 4.75% 5.00% 4.65% 4.70% 4.75% 4.75% 4.75% 4.85% 4.95%
30-year bond 3.5% 4.33% 4.05% 4.64% 4.65% 5.13% 5.34% 5.73% 5.85% 5.50% 5.50% 5.55% 5.55% 5.55% 5.65% 5.75%

Spreads
FF v 3-mo LIBOR 1.05% 0.66% 0.25% 0.22% 0.10% 0.10% 0.40% 0.55% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45% 0.45%
FF v 3-mo bill 0.01% -0.02% -0.01% 0.00% -0.03% 0.15% 0.35% 0.45% 0.35% 0.35% 0.35% 0.35% 0.35% 0.35% 0.35% 0.35%
FF v 2-year 0.70% 0.82% 0.85% 0.81% 0.73% 0.85% 0.95% 1.10% 0.90% 1.05% 1.05% 1.05% 1.05% 1.05% 1.05% 1.30%
2yr v 10yr 1.77% 2.53% 2.30% 2.98% 2.87% 3.15% 3.25% 3.50% 3.60% 2.85% 2.65% 2.45% 1.95% 1.70% 1.55% 0.65%
10yr vs 30yr 0.88% 0.80% 0.74% 0.80% 0.90% 0.98% 0.99% 0.98% 0.85% 0.85% 0.80% 0.80% 0.80% 0.80% 0.80% 0.80%
2yr vs 30yr 2.65% 3.33% 3.04% 3.78% 3.77% 4.13% 4.24% 4.48% 4.45% 3.70% 3.45% 3.25% 2.75% 2.50% 2.35% 1.45%

18
 .....
INTEREST RATE FORECAST

'
fed,.. ..•
FfII+O.D!I
lII.JIII
0.15"
D._ o._
llUIWI
0.15"
lII.JW.
0.50!1
0.75"
IlUIIl
0.75!I
l.D011
lIL&l
1.DOII
1.25"
QUIll
1.25"
15O!1
IIIJIIIZ.
1.75"
2.DOII
lILBJl
2.D011
2.25"
IIUIIl
2.25!I
25O!1
IIUIIl
3.D011
3.25"
IHIyT.' O.SOII 0.6O!I 0.85" 1.1OK 1.35" 1.6O!I 2.101' 2.35" 2.60!1 3.35"
1l1li +D.25!I 0.75" 0.85" 1.1OK 1.35" 1.6O!I 1.BS" 2.35" 2.60!1 2.BS" 3.60!1

- _ (1IIIIM1M!II l.D011 UX)" 1.DOII 1.1OK 1.35" 1.6O!I 2.101' 2.35" 2.60!1 3.35"
GlaT I>FfII or 1l1li +.- or.75lII

p_
0.75" 0.85" 1.1011 1.35" 1.6O!I 1.85" 2.35" 2.60!1 2.8S!I 3.60!1

'_It bv Jefferies

--
,_ftmlm
",,~-.QounIy

GlaT
$
$
$
lILlIIIII
23,349,583
57,119
43,711) $
llUIWI
$ 23,349,583
$ 57,119
49.618
$
$
lII.JW.
$ 23,349,583
57.119
64.211
$
$
IlUIIl
$ 23,349,583
62,831
78,8OS
$
$
lIL&l
$ 23,349,583
n,l11
93,398
$
QUIll
$ 23,349,583
91,390
$ 107,992
IIIJIIIZ.

$ 137.179 $ 151,m
IlUIIl
$ 23,349,583 $ 23,349,583
$ 119,950 $ 134,230
IILDIl
$ 23,349,583
$ 148,509
$ 166,366
IIUIIl
$ 23,349,583
$ 19l,349 $ ""m
$
IAIIl

210,146 $1,!01.2111

--
V_C1ltOtIlooGBJI $ 13,338 $ 7,501 $ 17,(192) $ 115,974) $ (16,288J $ (16,601) $ (17,229) $ (17,543) $ (17,856) $ 11a.7981 $ ( _

""~_·_r $ 7.433,109 $ 7,433,109 $ 7,433,109 $ 7,433,109 $ 7,433,109 $ 7,433,109 $ 7,433,109 $ 7,433,109 $ 7,433,109 $ 7,433.109
$ 17,40S $ 17,40S $ 17,40S $ 19,146 $ 23,497 $ 27,848 $ l6,5S1 $ 40,902 $ 45,254 $ S8,308 $ 103,722
GlaT S 13,937 $ 15,795 S 20,441 S 25,1l87 S 29.732 S 34,378 S 43.670 $ 48,315 S 52.961 S 66.898 $ 151,124

--
V_(1ItOtIlooGBJI $ 3,468 $ 1,610 $ (3,Ol6, $ (5,941) $ 16,235) $ (6,530) $ (7,118) $ (7,413) $ 17,7071 $ (a.s9O) $ (47,411)

,....
$ 74,524 $ 74,524 $ 74,524 $ 8l,9n $ 100.608 $ 119,239 $ 156,501 $ 175,132 $ 193,763 $ 249,656 $~"'"
GlaT $ 57,718 $ 65,413 $ 84,652 $ 103,892 $ 123,131 $ 142,370 $ 18D.848 $ 2OO,Il87 $ 219,327 $ 2n,D44 $~
_(1ItOt .... GBJI $ 16,807 $ 9,111 $ (10,128) $ (21.915) $ (22.523) $ (23,131) $ (24,347) $ (24,956) $ (25.564) $ (27,388) $ (_)