Commission directs staff to reissue banking-services RFP after split votes

The Fernandina Beach City Commission on Feb. 3 declined to award its management-banking contract and directed staff to reissue RFP 25-04 after a lengthy debate over scoring criteria, interest formulas and incumbent advantage.

Susan Carlos, the city comptroller, summarized the evaluators' scoring and the two leading proposals. "1st Federal would be 2.73, and 1st Port would be 2.75%," she said, explaining the numbers were derived from each proposal's index and recent-rate history. Carlos also described how evaluators weighted financial strength and conversion planning alongside the interest formula.

Commissioners pressed staff on the relative weight given to 'scope of conversion' and the qualifications of personnel assigned to the account, arguing those categories advantaged the incumbent. A conflict-disclosure issue and debate over whether the RFP should require a standard interest index added to the contention. After multiple motions to award individual banks failed, the commission voted to deny the current proposals and ask staff to return with a reissued RFP that clarifies an apples-to-apples interest comparison and other factors.

Jim Weaver, a representative of 1st Federal, urged the commission not to re-run the process without careful consideration, saying, "I appreciate the opportunity to bid on the RFP. And to be honest with you, I think we won the RFP, quite frankly." Commissioners replied that the contract expires in May and that clarity on interest-floor language and conversion costs was necessary before final award.

Staff will draft the revised RFP language to address the commission's direction and return it for future consideration.