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The scoring for the proposed fees and compensation category was based on both the actual fees <br />proposed and the earnings credit rate and interest rate on available balances. Scope of services <br />scoring included evaluating the bank's ability to perform the numerous services utilized by staff <br />for maintaining and securing the County's funds. The selection committee evaluated the <br />resources, locations and experience of the proposing banks in handling the various complexities <br />of the County's banking needs. Proposals were thoroughly reviewed and the committee's <br />rankings for banking and lockbox services are below. Final ranking tabulation sheets are <br />attached. <br />Ranking — Banking Services <br />Rank <br />Appr4ved <br />1 <br />Wells Fargo Bank <br />2 <br />TD Bank <br />3 <br />Bank United <br />3 <br />Florida Community Bank <br />5 <br />SunTrust <br />6 <br />Oculina Bank <br />7 <br />CenterState Bank <br />Ranking — Lockbox Services <br />Rank <br />Appr4ved <br />1 <br />Regions Bank <br />2 <br />SunTrust <br />3 <br />Oculina Bank <br />4 <br />Florida Community Bank <br />5 <br />CenterState Bank <br />6 <br />Intuition Systems <br />6 <br />Wells Fargo <br />8 <br />Bank United <br />9 <br />TD Bank <br />Recommendations: <br />Selection committee recommends awarding the banking services contract to Wells Fargo Bank <br />and awarding the lockbox services contract to Regions Bank, with each contract to have an initial <br />term of three years and an option to renew for two additional terms of two years each. Upon <br />Board approval of the recommendations, we will work with the County Attorney's office and <br />bring back the contracts for approval by the Board at a later date. <br />APPROVED AGENDA ITEM: <br />FOR: 10/11/2016 <br />Indian River County <br />Appr4ved <br />at <br />Administrator <br />is <br />13 I <br />County Attorney{� <br />Budget <br />A/b <br />L4 <br />Department <br />Risk Management <br />22 <br />