HomeMy WebLinkAbout20123037.tiff 8�61 OFFICE OF THE WELD COUNTY TREASURER
IX11 www.co.weld.co.us
1400 N
r �1 1400 N 17 AVE
GREELEY CO 80631
a T 970-353-3845 x3290
U N John R. Lefebvre, Jr.
co__
November 13, 2012
Monica Mika
Director of Finance and Administrative Services
1150 "O" Street,
Greeley CO 80631
Dear Monica:
I, along with Barb Connolly, the controller and Renee Fielder, the assistant treasurer, have reviewed
the Weld County Banking Bids for 2013 through 2015, with two one year extensions.
I respectfully request that the county choose Wells Fargo Bank for the counties banking services.
Wells Fargo is the lowest bidder, and is our current vendor for general banking services and is able to
fulfill Weld County's requirements for service.
I have no recommendation for the bond trust account services. US Bank is the current vendor and has
many advantages over Firstbank which we did not specify in the bid but is illustrated in the table
below. As you can see Wells Fargo is the highest bidder and offers services more comparable to US
Bank. The pricing option can be had by other services for an additional $1,200 per year but US Bank
offers this as part of their service currently.
VENDORS FOR BANKING TOTAL BID
Wells Fargo $60,809.46
JP Morgan Chase $104,335.49
First Bank $84,601.54
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VENDORS FOR BOND TRUST ACCOUNT TOTAL BID
Wells Fargo $20,000.00
US Bank $5,270.00
First Bank $2,200.00
Bond Trust Account Service Comparison
US Bank Firstbank
Daily Online Statements V
Real Time Asset Pricing V
Able to export to Excel ✓
Anticipated Cash ✓
Monthly paper statements V V
Please consider these requests for approval.
Sincerely,
John R. Lefebvre
Weld County Treasurer
Esther Gesick
From: Marcia Walters
Sent: Thursday, November 15, 2012 4:16 PM
To: Esther Gesick
Subject: FW: RFP - FirstBank Bond Account
Here is the email from First Bank the Banking Services bid. (#B1200150) Thanks!
From: Galindo, Lindsey [mailto:Lindsev.Galindo@efirstbank.com]
Sent: Wednesday, November 14, 2012 6:12 PM
To: John Lefebvre
Cc: Brady, Patrick; Williams, Monica; Helmerick, Gregory
Subject: RFP - FirstBank Bond Account
Good evening John—
I tried to call you this evening, but was unavailable to leave you a voice message; probably because your office was
already closed. I wanted to inform you sooner than later, that unfortunately FirstBank will have to withdraw our bid for
the bond account services. We were under the impression that the RFP for the Core Banking Services included the
Investment Safekeeping Services and were not two separate RFP's. Without your Core Banking Relationship, we are
unable to provide the Weld County Treasurer's Officer with our Investment Safekeeping Services.
We apologize for the misunderstanding, but want to thank-you for your consideration and opportunity to expand upon
your existing banking relationship. You and your staff have been a pleasure to work with throughout this process. If
your schedule permits, I would like to sit down with you in the coming days to discuss this matter further and some
other aspects of the RFP. Maybe a cup of coffee next door at StarBucks? Just let me know.
Additionally, we will put together an official letter regarding our intentions to decline the Bond Account Services and I
will send over that letter over to you on Friday.
Thank you and have a great night!
Lindsey Galindo
Vice President—Northern CO Market
s FirstBank
4322 W. 9th Street Road
Greeley, CO 80634
T 970.506.4488 I F 970.506.4480
NMLS ID#: 566204
www.efirstbank.com
The information contained in this electronic communication and any document attached hereto or transmitted
herewith is confidential and intended for the exclusive use of the individual or entity named above. If the reader of
this message is not the intended recipient or the employee or agent responsible for delivering it to the intended
1
1861 OFFICE OF THE WELD COUNTY TREASURER
www.co.weld.co.us
1400N17AVE
,�1 .
� �� GREELEY CO 80631
G 0 r �1�, 970-353-3845 x3290
GOUT John R. Lefebvre, Jr.
November 2, 2012
Monica Mika
Director of Finance and Administrative Services
1150"O" Street,
Greeley CO 8063 I
Dear Monica:
I, along with Barb Connolly, the controller and Renee Fielder, the assistant treasurer, have reviewed
the Weld County Banking Bids for 2013 through 2015, with two (2) one year extensions. I
respectfully request that the county choose Wells Fargo Bank for the counties banking services. I
also respect-fully request that the county choose US Bank for the bond trust account services. Wells
Fargo is the lowest bidder, and is our current vendor for general banking services and is able to fulfill
Weld County's requirements for service.
US Bank is the current vendor and has many advantages over Firstbank which we did not specify in
the bid but is illustrated in the table below. As you can see Wells Fargo is the highest bidder and
offers services more comparable to US Bank. The pricing option can be had by other services for an
additional $1,200 per year but US Bank offers this as part of their service currently. The biggest
disadvantage to Firstbank is the fact that we can only see the account balance on the monthly paper
statements.
I realize that these service disadvantages that Firstbank offers do not invalidate their bid but rather
that due to the service differential between US Bank and Firstbank the county receives better value
from US Bank than from Firstbank.
VENDORS FOR BANKING TOTAL BID
Wells Fargo $60,809.46
JP Morgan Chase $104,335.49
First Bank $84,601.54
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TOTAL BID
VENDORS FOR BOND TRUST ACCOUNT
Wells Fargo $20,000.00
US Bank $5,270.00
First Bank $2,200.00
Bond Trust Account Service Comparison
US Bank Firstbank
Daily Online Statements V
Real Time Asset Pricing V
Able to export to Excel V
Anticipated Cash ✓
Monthly paper statements ✓ ✓
Please consider these requests for approval.
Sincerely,
John R. Lefebvre
Weld County Treasurer
WELD COUNTY PURCHASING
p 1150 O Street Room 107, Greeley CO 80631
;WPC E-Mail: mwalters(a�co.weld.co.us
f 9 r,: — E-mail: reverett(a�co.weld.co.us
r� r '. Phone: (970) 356-4000, Ext 4222 or 4223
Fax: (970) 336-7226
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DATE OF BID: OCTOBER 23rd, 2012
REQUEST FOR: BANKING SERVICES
DEPARTMENT: TREASURER'S OFFICE
BID NO: #B1200150
PRESENT DATE: OCTOBER 24TH, 2012
APPROVAL DATE: NOVEMBER 7111, 2012
VENDORS
WELLS FARGO
1700 Lincoln Street 81h Floor
Denver CO 80203
JP MORGAN
1125 17th Street 3rd Floor
Denver CO 80202
FIRST BANK
4322 W 9th Street Road
Greeley CO 80634
U.S. BANK
950 17th Street 5'h Floor
Denver CO 80202
***THE BIDS ARE BEING REVEIWED BY THE TREASURER'S OFFICE AT THIS TIME***
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