HomeMy WebLinkAbout2025-04-21 I01F_04 Banking Services ProposalAGENDA ITEM:
CITY OF WAUKEE, IOWA
CITY COUNCIL MEETING COMMUNICATION
MEETING DATE: April 21, 2025
AGENDA ITEM:Consideration of approval on acceptance of the 3 year proposal from
West Bank for banking services for years beginning
July 1, 2025, 2026 and 2027.
FORMAT:Resolution
SYNOPSIS INCLUDING PRO & CON: On February 7, 2025 staff mailed RFP’s for general
banking services, to 21 banks, including those who have a physical
presence in the City of Waukee, as well as current members of the
Waukee Chamber of Commerce. We received eight full proposals from
the following:
Bankers Trust Community State Bank
Farmers State Bank First Interstate Bank
Iowa Trust MidWest One
Security National Bank West Bank
The top two front runners were Community State Bank and West Bank.
If anyone is interested in reviewing the individual proposals in their
entirety, please let me know and we can arrange a time for your review.
It is our recommendation that we continue banking services with West
Bank as their proposal is still competitive with all fees waived, provides
the most competitive interest rate calculation, and they have provided
excellent customer service the past 15 years.
FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS:NA
COMMISSION/BOARD/COMMITTEE COMMENT:
STAFF REVIEW AND COMMENT: Staff recommends awarding the 3 year banking services
to West Bank, with an optional 3 year extension.
RECOMMENDATION: Approve the resolution.
PREPARED BY:Linda Burkhart
REVIEWED BY:
PUBLIC NOTICE INFORMATION –
NAME OF PUBLICATION: NA
DATE OF PUBLICATION:
I1F4
THE CITY OF WAUKEE, IOWA
RESOLUTION 2025-
APPROVING AND ACCEPTING WEST BANK’S BANKING SERVICES
PROPOSAL FOR 3 YEARS BEGINNING JULY 1, 2025, 2026 AND 2027
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE, IOWA
WHEREAS, the City of Waukee mailed Requests For Proposals to 21 local financial
institutions; AND,
WHEREAS, the City received 8 written proposals for consideration and review; AND,
WHEREAS, the City’s Finance Director and Accounting Manager has reviewed the
proposals and discussed each proposal with the City Administrator and recommends
acceptance and approval of the West Bank proposal; AND,
NOW THEREFORE BE IT RESOLVED by the City of Waukee City Council in
session this 21st day of April 2025 that it hereby approves and accepts the proposal from
West Bank for banking services to be provided to the City of Waukee for the years
beginning July 1, 2025, 2026 and 2027.
____________________________
Courtney Clarke, Mayor
Attest:
___________________________________
Rebecca D. Schuett, City Clerk
RESULTS OF VOTE: AYE NAY ABSENT ABSTAIN
R. Charles Bottenberg
Chris Crone
Rob Grove
Anna Bergman Pierce
Ben Sinclair