R2017-160 2017-09-18 RESOLUTION NO. R2017-160
A Resolution of the City Council of the City of Pearland, Texas, awarding a
contract for Bank Depository Services to Wells Fargo Bank for two(2) years,
beginning October 1, 2017 and ending September 30, 2019, with the option of
three (3) additional one-year terms.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS:
Section 1. That the City has received Requests for Proposals (RFP's) for Bank
Depository Services, and such RFP's have been reviewed.
Section 2. That the City Council hereby awards a contract for Bank Depository Services
to Wells Fargo Bank for two (2) years, with the option of three (3) additional one-year terms.
Section 3. The City Manager or his designee is hereby authorized to execute a contract
for Bank Depository Services.
PASSED, APPROVED and ADOPTED this the 18th day of September, A.D., 2017.
TOM REID
MAYOR
ATTEST:
N O..
"Ffsi It*:1 4 .\%s
if NG Y S' 'ETARY '
APPROVED AS TO FORM:
DARRIN M. COKER
CITY ATTORNEY
WELLS
FARGO
September 29, 2017
Rick Overgaard
City of Pearland
3519 Liberty Dr.
Pearland, TX 77581
RE: Depository Contract
Dear Rick,
Please find enclosed the Depository Contract for the City's execution. It is effective
October 1, 2017. We can internally set any contract changes to be effective the ls`.
Should the City choose to make the effective date November 1st that too can be
accommodated.
I would like to schedule a review in the next few weeks, if your schedules allow.
Please let me know if you have any questions.
I look forward to continuing our partnership.
Thank you,
Michelle Valencia, VP
Wells Fargo Bank
14200 Gulf Freeway, Suite 110
Houston, TX 77034
Together we'll go far
DEPOSITORY BANK SERVICES AGREEMENT
THIS DEPOSITORY BANK SERVICES AGREEMENT hereinafter called the "Agreement", is made
and entered into on the date last herein written by and between the City of Pearland, Texas, hereinafter
called the "City", and Wells Fargo Bank, NA, a banking association, organized under the law of the
United States and authorized by law to do banking business in the State of Texas, hereinafter called the
"Bank", and provides as follows:
1. Designation of Depository. The City, through action of the City Council, on September 18,
2017, hereby designates Bank as a primary depository bank for the period beginning October 1, 2017, and
continuing through September 30, 2019, with the option for three (3) one-year extensions under the same
terms and conditions.
2. General. All services rendered to City by Bank under this Agreement shall be performed in
accordance with accepted commercial banking standards for public fund organizations and under the
overall direction and instructions of City pursuant to Bank's standard operations, policies, and procedures.
3. Scope of Services. Bank agrees to provide those services as described in the City of
Pearland, Texas Request for Application for Depository Bank Services released on June 7, 2017
hereinafter referred to as the "RFA". The RFA and Bank's response to the RFA, hereinafter referred to as
the "Application", are incorporated herein by reference. Bank acknowledges that all services performed
by Bank are subject to the approval of City.
4. City Representatives. During the term of this Agreement, City will, through appropriate
action of its City Council, designate the officer, or officers, who singly or jointly will be authorized to
represent and act on behalf of City in any and all matters of every kind arising under this Agreement and
to (a) appoint and designate, from time to time, a person or persons who may request withdrawals, orders
for payment or transfer on behalf of City in accordance with the electronic funds or funds transfer
agreement and addenda, and (b) make withdrawals or transfer by written instrument.
5. Custodian. City and Bank, by execution of this Agreement, hereby designate Bank of New
York Mellon Trust Company, NA as custodian, hereinafter called "Custodian", to hold in trust, according
to the terms and conditions of this Agreement, the collateral described and pledged by Bank in
accordance with the provisions of this Agreement.
6. Custodian Fees. Any and all fees associated with Custodian's holding of collateral for the
benefit of City will be paid by Bank and City will have no liability therefore.
7. Entire Agreement. The entire agreement between Bank and City shall consist of this
Agreement, City's RFA (except to the extent Bank took specific exceptions in the Bank's Application),
Bank's Application, the Custodial Agreement with Custodian, and other such bank service agreements,
policies and documents as may be required and approved by the parties (together, the "Banking
Agreements"), each incorporated by reference as they presently exist and each listed in governing order of
precedence in the event of conflict among the documents. This Agreement supersedes any and all prior
representations, statements, and agreements, whether written or oral. The terms and provisions of this
Agreement may not be amended, altered, or waived except by mutual agreement evidenced by a written
instrument signed by duly authorized representatives of both parties.
8. Collateralization. All funds on deposit with Bank to the credit of City shall be secured by
collateral as provided for in the Public Funds Investment Act (Chapter 2256 of the Texas Government
Code as amended), the Public Funds Collateral Act (Chapter 2257 of the Texas Government Code),
City's Investment Policy, and Bank's Application.
4
If marketable securities are pledged, the total market value of the securities securing such
deposits will be in an amount at least equal to the minimum required amount as per City's Investment
Policy. The market value of any pledged securities (collateral) will be obtained from non -Bank -affiliated
sources. Bank will monitor and maintain the required collateral margins and levels at all times.
Bank has heretofore, or will immediately hereafter, deliver to Custodian collateral of the kind and
character above mentioned of sufficient amount and market value to provide adequate collateral for the
funds of City deposited with Bank. Custodian will accept said collateral and hold the same in trust for the
purposes herein stated. Said collateral or substitute collateral, as hereinafter provided for, shall be kept
and retained by Custodian in trust so long as deposits of City remain with Bank. Bank hereby grants a
security interest in such collateral to City.
If at any time the collateral in the hands of Custodian shall have a market value in excess of the
required balances, City may authorize the withdrawal of a specified amount of collateral, and Custodian
shall deliver this amount of collateral (and no more) to Bank.
If surety bonds or letters of credit are utilized, City shall agree as to the issuer and form of
contract prior to the pledge. The amount of surety bonds or letters of credit will be at least equal to the
minimum required amount as per City's Investment Policy. The termination or expiration of any surety
bond or letter of credit shall be a minimum of two (2) business days after City anticipates withdrawing the
secured deposit.
9. Successors. This Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns. Whenever a reference is made herein to either party,
such reference shall include the parry's successors and assigns.
10. Compensation. City and Bank agree that any compensation for the performance of all
duties and services is set forth in the Application accepted by City. Except as may otherwise be provided
in the Banking Agreements, said compensation shall constitute full payment for all services, liaison,
products, materials, and equipment required to provide the professional banking services, including
services, materials, training, equipment, travel, overhead, and expenses. Fees shall be fixed for the term
of the Banking Agreements, including all extensions.
11. Consideration. The Banking Agreements are executed by the parties hereto without
coercion or duress and for substantial consideration, the sufficiency of which is forever confessed.
12. Counterparts. The Banking Agreements may be executed in a number of identical
counterparts, each of which shall be deemed an original for all purposes. A facsimile signature will also
be deemed to constitute an original if properly executed.
13. Authority to Execute. The individuals executing the Banking Agreements on behalf of the
respective parties below represent to each other and to others that all appropriate and necessary action has
been taken to authorize the individual who is executing the Banking Agreements to do so for and on
behalf of the party for which his or her signature appears, that there are no other parties or entities
required to execute the Banking Agreements in order for the same to be an authorized and binding on the
party for whom the individual is signing and that each individual affixing his or her signature hereto is
authorized to do so.
14. Governing Law and Venue. This Agreement shall be governed by the laws of the State of
Texas. Brazoria County will be the venue for any lawsuit arising out of this Agreement.
15. Notices. Except as may otherwise be specified in the applicable service -level agreements
and/or set-up forms, any demand, notice, request, instruction, designation, or other communication(s)
5
required in writing under this Agreement shall be personally delivered or sent certified mail, return receipt
requested, to the other party as follows:
Bank:
City:
Michelle Valencia, VP
Relationship Manager
Wells Fargo Bank, N.A.
14200 Gulf Freeway, Suite 110
Houston, TX 77034
Cynthia Pearson
Director of Finance
City of Pearland
3519 Liberty Drive
Pearland, Texas 77581
Changes to notice information may be made by either party with written notification to the other
party.
16. Severability. If any provision of this Agreement is held to be illegal, invalid, or
unenforceable by a court of competent jurisdiction, the parties, shall, if possible, agree on a legal, valid,
and enforceable substitute provision that is as similar in effect to the illegal, invalid, or unenforceable
provision as possible. The remaining portion of the Agreement not declared illegal, invalid, or
unenforceable shall remain valid and in full force and effect for the term remaining.
17. Binding Commitment. Bank hereby acknowledges itself duly and firmly bound for the
faithful performance of all the duties and obligations required by applicable law, including the
Government Code and Local Government Code, such that all funds deposited with it as depository shall
be faithfully kept by it and accounted for according to law.
18. Continuation. Unless this Agreement is terminated sooner, Bank's designation as the
primary City Depository will remain continuously in effect through September 30, 2019 subject to
execution of the extension options if applicable.
Executed by the undersigned duly authorized officers of the parties hereto:
CITY OF ' ARLAND, TEXAS BANK
By:
Name:
Title:
Date:
luyc..� By:
I. n'ltt-d
111^ec. l' e F
/
ATTEST:
By:
Name:
Title: A4ST
cAALtaQa.Z�
aaLt )11--1
Name: Michelle Valencia
Title: VP, Relationship Manager
Date: September 29, 2017
ATT
C./
Name: Re a Conde
Title: Relationship Associate
6
RESOLUTION NO. R2017-160
Va{Iec View Consulting, L.L.C.
August 1,2017
Ms. Cynthia Pearson
Director of Finance
City of Pearland
3519 Liberty Drive
Pearland, Texas 77581
Dear Ms. Pearson:
We sincerely appreciated and welcomed the opportunity to assist the City of Pearland(the"City")with
this Primary Depository Bank Services Request for Applications (the"RFA")project.
The objective of this engagement was to select a primary depository bank following the expiration of
the current contract which ends September 30, 2017. This agreement, when approved, will commence
on October 1, 2017 and terminate on September 30, 2019. The contract may be extended for three(3)
additional one-year periods under the same terms and conditions.
Procedure
The project began with the establishment of a calendar of events to ensure that the required project
steps were performed in a timely and sequential manner.
The process for selecting a Primary Depository Bank is governed by the State of Texas Local
Government Codes: Chapter 105 Municipal Depository Act; Chapter 176 Conflict of Interest Act;
Chapter 2256 Public Funds Investment Act; and Chapter 2257 Public Funds Collateral Act.
In addition to complying with these State statutory requirements, it was necessary to understand and
comply with the City's financial and purchasing policies and Investment Policy.
The RFA project was conducted as follows:
1. Analyzed historical bank service usage and balance records.
2. Reviewed the minimum banking services and potential additional services.
3. Developed a list of eligible financial institutions within the City's municipal area:
a. Amegy Bank,a division of ZB,N.A.
b. Bank of America
c. BBVA Compass Bank
d. Capital Bank
e. Capital One Bank
2428 Carters Mill Road,Huddleston,VA 24104-4003
540.297.3419
Valley View Consulting,LL(
•
Page 2 of 4
f. Comerica Bank
g. Frost Bank
h. Heritage Bank
i. HomeTown Bank
j. Independent Bank
k. JPMorgan Chase Bank
1. Moody National Bank
m. Pearland State Bank
n. Prosperity Bank
o. Regions Bank
p. Texas Advantage Community Bank
q. Texas First Bank
r. Wells Fargo Bank(incumbent)
s. Woodforest National Bank
4. Contacted the financial,institutions to confirm distribution information, describe the process,
and identify the designated recipient.
5. Drafted the RFA for City review and approval.
6. Posted the notice and advertised as required.
7. Distributed RFAs to the identified and receptive financial institutions.
8. Held a non-mandatory pre-application conference that was attended by representatives of:
a. JPMorgan Chase Bank
b. Wells Fargo Bank(incumbent)
9. No additional RFA requests were received as a result of the advertisement.
10. By the closing deadline, applications were received from:
a. Capital One Bank
b. Frost Bank
c. JPMorgan Chase Bank
d. Prosperity Bank
e. Wells Fargo Bank(incumbent)
The evaluation of the applications was based on, but not limited to, the following criteria, in no
particular order of priority:
1. Ability to perform and provide the required and requested services;
• 2. References provided and quality of services;
3. Cost of services; •
4. Transition cost,retention and transition offers and incentives;
5. Funds availability;
6. Interest paid on interest bearing accounts and deposits;
7. Earnings credit calculation on compensating balances;
8. Completeness of application and agreement to points outlined in the RFA;
9. Convenience of location(s);
10. Previous service relationship with the City;
2428 Carters Mill Road,Huddleston,VA 24104-4003
540.297.3419
Valley Mew Consulting,L.L.C.
Page 3 of 4
11. Physical location within the City's municipal boundaries;and
12. Financial strength and stability of the institution.
Application Analysis
The Application Analysis began with an overall review of each financial institution's general financial
strength and ability to provide the services necessary to meet the City's current and future service
needs. Each of the responding financial institutions exhibited acceptable financial strength and the
ability to provide services the City requested.
The analysis of proposed fees, earnings credit, and investment income potential is summarized below.
Net Income/(Cost)
Each financial institution's fee schedule was analyzed based on the City's banking service needs and
estimated activity levels. Where quantifiable and appropriate, the estimated service fees were adjusted
for any incentives(including waived fees and transition allowances).
With the recent shift in interest rates and market conditions, it is projected the City will maintain +/-
$20,000,000 in operating balances. Each financial institution's potential earnings credit rates were
considered as "soft-dollar" earnings credit to be netted against the estimated service charges. If any
remained, non-compensating balances were invested in a more advantageous "hard" interest deposit
option.
Five-Year Term Capital One Frost JPMorgan Prosperity Wells Fargo
Proposed Fees(net (681,580) (516,758) (401,573) (510,102) (602,311)
of incentives)
Earnings Credit and 630,000 742,907 643,149 250,000 759,846
Hard-Interest
Estimated Third- (88,620) (88,620) (105 264 (105,264) 0
Party Fees ) ( )
Net Income/(Cost) (140,200) 137,529 136,312 (365,366) 157,535
Recommendation
As the incumbent, Wells Fargo Bank, N.A. has been a good business partner over the course of the
current contract, and they have provided the City a very competitive offer to maintain the relationship.
Frost Bank and JPMorgan Chase Bank also offered competitive responses, however each of the
proposals would require the City to engage and compensate a third-party provider for services
currently utilized. Frost Bank would require a third-party for armored car services, and JPMorgan
Chase Bank would require third-party providers for armored car and safekeeping services.
2428 Carters Mill Road,Huddleston,VA 24104-4003
540.297.3419
balky\iew Consulting,L.L.C.
Page 4 of 4
Wells Fargo Bank's proposal continues to provide current services and technology features, a monthly
allowance for armored car services, securities clearance and safekeeping at no additional cost, and
offers the City the most favorable option at this time.
Therefore, we concur with the staff recommendation that the City Council award the Primary
Depository Bank services contract to Wells Fargo Bank, N.A, and authorize the Mayor/City Manager
to execute the agreements necessary to continue the banking relationship with Wells Fargo Bank,N.A.
Upon approval,the new contract will commence on Sunday, October 1,2017.
Please contact Emily Upshaw, Bill Koch, Dick Long, or me to discuss any questions or additional
information needs.
Thank you for this opportunity to serve the City of Pearland,Texas.
Sincerely,
.2. ifs
E. K. Hufste 1r, III
Valley View Consulting, L.L.C.
Attachment
2428 Carters Mill Road,Huddleston,VA 24104-4003
540.297.3419
City of Pearland,Texas Bank RFA Analysis
\alleyv.Crmvknq L.LC
August 1,2017 Wells Fargo Bank Frost Bank(Smoothed JPMor an Chase Bank
(incumbent) Capital Ono Bank 9 Prosperity Bank
Comp Balance) (Smoothed Comp Balance) P y
FEE ANALYSIS OF BANK DEPOSITORY SERVICES
Proposed Fees-Banking Services
Monthly Fee Estimate (12,046) (11.360) (9.1271 (7,874) (8,502)
Monthly Estimated Assessment Fee 2,048 Waived 1,050 985 Waived
Fees for Two Year Tenn (289.109) (272.632) (219,056) (188,975) (204,041)
Fees for Five Year Tenn (722,773) (681,5801 (547,640) (472,438) (510.102)
Contract Incentives
Estimated Waived Fees Two morons Per contract year
for life of contract 27,382 70,866
Transition Allowance - 3.500 -
Total Fees for Two Year Term less Incentives (240,924) (272,632) (168,174) (118,110) (204,041)
Total Fees for Five Year Tenn less Incentives (602,311) (681,580) (816,768) (401,573) (510,102)
Cost of Services provided by 3rd Party Vendor
Mcothly Safekeeping Fees Included Above Included Above Included Above (277) (277)
Monthly Armored Car Fees Included Above (1,477) (1,477) (1,477) (1,477)
Total 1rd Party Vendor Fees for Two Year Term 0 (35,449) (35,448) (42,106) (42,106)
Total 3rd Party Vendor Foos for Five Year Term 0 (65,920) (88620) (105,264) (105,264)
Total Fees for Two Year Tenn (240,624) (308,050) (223,622 (160,215) (246,146)
Total Fees for Five Year Tenn (602,311) (770,200) (606,375) (506,837) (615,366)
Earnings Credit
Earnings Credit Rate 0.75% 0.70% 1.23% 0.75% 025'S
Rate Beals Managed rate Managed rate(floor 0.70%) Prior month average o113 Managed rale 010.35%.
9 9 ( ) week T-Bill•0.25% 0.40% Managed rate
Target DOA Compensating Balance 16,081,500 20,000.000 8,402,530 10.708,600 20,000,000_
Monthly Eamings Credit less Reserve 10,038 10,500 8.613 6.693 4,167
Eamings Credit for Two Year Tenn 240,923 252,000 206,702 160,629 100.000
Earnings Credit for Five Year Term 602,306 630,000 516,756 401.573 250.000
Reserve Requirement 0% 10% 0% 0% 0%
Net Fees for Two Year Term (2) (20.632) 0 0 (104,041)
Net Fees for Five Year Tans (5) (51,568) (2) O 0
(260,102)
Interest Income Estimate
Blended Checking Option Sweep Account•Invest* Interest beanng NOW or
Investment Option 1 Rate Basis Stagecoach Sweep Account Government and Agency en end DDA(Hard Interest
(floor 0.60%) A9 earned over ECR Peg) Premier Money Market
Portfofo Fund Account
Interest Rale 0.80% 0.60% 0.39% 0.52% 0.85%
Investment Balance 3,938,500 - 11,597,470 9,291,400
Monthly Investment Income 2,626 - 3,789 4,026 -
Two Year Investment Income 63.016 - 90,460 96,631 •
Free Year Investment Income 157.540 - 228,151 241,576 -
Two Year Incomet(Cost) 63,014 (20,632) 90,460 96.631 (104,041)
Five Year Income/(Cost) 157,535 (51,580) 226,149 241,578 (260,102
Net Fees for Two Years including 3rd Party Services 63,014 55,012 - 54,525
Net Fees for Five Years including 3rd Party Services 157,535 }
> .. _s>.-447,629 118.312 _ _
July 5,2017 Submission Date
Historical Bank Balance 520.000.000
91-Day 7-Bill Discount Rate 1.03%
Fed Funds Rate Actual 1.16%
Fed Funds Rate Target 1.00%-1.25%%
Local Government Investment Pool 0.96%
Valley View Consulting,L.L.C.
2428 Carters Mill Road,Huddleston,VA 24104
540.297.3419 1
City of Pearland,Texas Bank RFA Analysis
%gi 9,4ewCOroulerg,L1.0
August 1,2017 Wells Fargo Bank Frost Bank(Smoothed JPMor an Chase Bank
(incumbent) Capital One Bank Comp alance 9 Prosperity Bank
P ) (Smoothed Comp Balance)
DETAIL RESPONSE ANALYSIS OF BANK DEPOSITORY SERVICES .
Best Value"Criteria
1 Aga ly to perform and provide the required and requested services
2 References provided and quality 01 services
3 Cost of services
4 Transition cost,retention and transition offers and incentives
5 Funds availability
6 Interest paid on merest beanng accounts and deposits
7 Earnings credit calculation on compensating balances
8 Completeness of application and agreement to points in the RFA
9 Convenience of locations
10 Previous service relationship with the City
11 Physical location within the City's boundaries
12 Financial strength and stability of the institution
Required Bank Services
1 Online Banking Services Yes Yes Yes Yes Yes
2 ACH Yes Yes Yes Yos Yes
3 ACH Debit Blocking Yes Yes Yes Yes Yes
4 Electronic Data Interchange Yes Yes Yes Yes Yes
5 Remote Deposit Capture Yes Yes Yes Yes Yes
6 Wire Transfers Yes Yes Yes Yes Yes/No in error
7 Post No Checks Yes Yes Yes Yes Yes
8 Zero Balance Accounts Yes Yes Yes Yes Yes
9 Positive Pay and Account Reconciliation Service Yes Yes-exceptions 3:30 p.m. Yes Yes-exceptions 4:00 p.m. Yes-exceptions noon
deadline deadline deadline
10 Retail and Wholesale Lockbox Services Yes Yes Yes Yes Yes-refer to pricing
11 Consumer Bill Pay Processing Yes Yes Yes Yes Yes
12 Cash Vault Services Yes Yes Yes Yes Yes
' 13 Armored Car Services Waived up to$1400/month Passed in full to the City Cannot provide Cannot provide Cannot provide
14 Tamperproof Bank Bags Yes Yes Yes Yes Yes/No-bags not required by
bank
15 Funds Availability Yes Yes Yes Yes Yes
16 Employee Check Cashing Yes-with use of Positive Pay Yes-with Payroll debit card Yes Yes Yes-with use of Positive Pay
17 Retuned Check Reprocessing Yes Yes Yes Yes Yes
18 Account Analysis Yes Yes Yes Yes Yes
19 Bank Statements Yes Yes Yes Yes Yes
20 Payment For Services Yes Yes Yes Yes Yes
21 Account Settlement Yes-annual Yos Yes Yes YesMo-monthly
22 Research Yes Yes Yes Yes Yes
23 Bank Errors Yes Yes Yes Yes Yea
24 Investment Account Yes Yes Yes Yes Yes
25 Audit Confirmations Yes Yes Yes Yes Yes
26 Balance Assessment Passed in full to the City Waived Passed In full to the City Passed in M le the City Waived
27 Reserve Requirement No Yes-10% No No No
28 Earnings Credit Rate 0.75% _ 0.70% 1.23% 0.75% _ 025%
•
Services That May Be Considered
I Online Payments Acceptance Yes Yes Yes Yes Yes
2 Controlled Disbursement Account Yes Yes Yes Yes No
3 Payroll Cards Yes Yos Yes No Yes
4 Armored Car Services Waived up to 61.500/month Passed in full to the City _ Cannot provide Cannot provide Cannot provide
Collateral Requirements
1 Cotaterefration NoNes Yes Yes Yes Yes
2 Collateral Amount Yes Yes Yes Yes Yes
3 Pledged Collateral Custody and Safekeeping Yes-BONY Yes-BONY Yes-BONY Yes-FRB Yes-FHLB Dallas
4 Collateral Substitution No Yes Yes/NO-Standing Release Yes Yes
Yes/No-agree that bank shalt
5 Collateral Report Yes Yes Yes provide report,but excludes Yes
custodial bank
6 FIRREA Compliant Board Resolution Yes Yes Yes Yes Yes
Investment Activities
1 Direct Investment Atomatrve Yes Yes Yes Yes Nolfes
2 Certificates of Deposit Yes No Yes YB6 Yes-premium of 0.15°.6 to
posted rates
3 Securities Clearing,Safekeepirag and Custody Services Yes Yes Yes Not PFIA eligible No
4 Separate Securities Clearing,Safekeeping and Custody Services Yes Yes Yes Not PFIA eligible No
5 Cost Sharing or Croon for Third Party Safekeeping Services Yes Yes No Not PFIA eligible No
Valley View Consulting,L.L.G.
2428 Carters Mill Road,Huddleston,VA 24104
540.297.3419 2
City of Pearland,Texas Bank RFA Analysis =� \
August 1,2017 Wells Fargo Bank Frost Bank(Smoothed JPMorgan Chase Bank
(incumbent) Capital One Bank 9 Pros Comp Balance) (Smoothed Comp Balance) Prosperity Bank
)
Overdraft Provisions -
1 Net Overdraft Defined Yes Yes No Yes Yes
2 Notification Yes Yes No/Yes Yes Yes
3 Stipulations Case by Case Case by Case 2 day/STBD I Frost
_ prlmeii3.0% Case by Case Case by Case
Other Stipulations
1 Regulation Notifications No:Yes Yes Yes Yes Yes
2 Incoming Wire Transfers Yes Yes Yes Yes Yes
3 Right to Cancel Under Federal or State Law Rukngs Yes Yes Yes Yes Yes
4 Access to Bank Records Yes Yes Yes Yes Yes
5 Right to Open and Maintain Other Accounts Yes Yes Yes Yes Yes
6 Secondary Bank Depository Yes
7 Right to Terminate Yes Yes Yes No
Yes-coal rights Yes Yes-dual nights Yes Yes
8 Terms Fixed Yes Yes Yes Yes Yes
Ms.Michelle Valencia, Ms.Kelly Coons.Banking
9 One Relationship Officer Relationship Manager Mr.Michael D.Bradford,SVP Ms.Traci Arellano,VP Ms.Joanna Caudillo,VP
(281)652x302 (214)855.2601 (713)388-1362 (713)216-4087 Center Pros dent
(713)340-C652
Miscellaneous
1 Semi-Annual Meeting Yes Yes Yes Yes Yes
2 Formal Agreement Required Yes Yes Yes Yes Yes
Application Submission
I I Received I Received I Received .I Received I Received
Fee Schedules
I Bank Services I Received I Received
Received I Received I Received
Response Attachments
1 Account Analysis NIA-Incumbent Provided Provided sample only Provided Provided sample only
2 Rate Basis Provided Provided Provided Provided Provided
3 Sample Collateral Agreement Provided Provided Provided Provided Provided
4 Security Measures Provided Provided Provided
Provided Provided
5 Technology Specifications Provided Provided Provided Provided Provided
6 Sample Safekeeping Report Provided Provided Provided Provided NIA
7 Securities Safekeeping Fees Provided Provided Provided Provided N/A
8 Investment Account Information Provided Provided Provided Provided N/A
9 Summary Business Continuity Plan Provided Provided Provided Provided Provided
City o(Friendswood;City of Dallas Housing Authority:City City of Galveston:City of
10 References of Port Arthur;City of Corpus Christi;Harris County City of Lancaster;City of
Sugar Land:and City of y Pasadena;and City of Gafceston County;Katy ISO;
Richmond
Dickinson:and Harris County CAD;City of Shawano Park; and Victoria County
Uptown Houston District and City of Cowell �°A^
11 Sample FIRREA Compliant Document Provided Not provided Not provided Provide upon award Provide upon award
Other Considerations
1 Bankrate.com Rating 4 out of 5 Stars 5 out of 5 Stars 4 out of 5 Stars 4 out of 5 Stars 4 out of 5 Stars
51,000 annual supply
allowance:$1500 monmy Deposit bags and initial order
2 Bank Checks,Stamps other Supplies armored can 81Ibv2nce;free Bank bags at no tort of endorsement stamps Bank supplies provided at no Standard bank bags at no
tamper-evident deposit bags through Frost vendor at no charge cost
for life of contract charge for contract term
Treasury 9 months or 580,000 of
management/account setup waived service lees:three(3)
fees waived;continued print 53.500 to offset conversion fns desktop scanners;wave
3 Incentives Offered services;two(2)months related charges within first six
one-tine set up fees for
waived service charges None eL -lost,.ACH fire and Host None
ro (6)months,and three(3) to Host and waive custom
annualy for Me of contract: months waived analysis fees
and waiver of safekeeping lees ociatemmirhg charges
•
for life of contract associated with new lockbox
setup
4 Specific exceptions noted to terms in RFA Yes-page 187 of scanned None Yes-page 221 of scanned
response None response None
5 Safekeeping Services Yes Yes Yes _ Not PFIA etighle No
Valley View Consulting,L.L.C.
2428 Carters Mill Road.Huddleston.VA 24104
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