BOCC July 14, 2025 Meeting - Item #4 🏦 When Home Field Advantage Isn’t Just for Football — Ameris Scores the County’s Trust, Again

The boardroom may not have bleachers, but Ameris Bank just made the most of its home turf. Already holding Wakulla County’s general operating account, Ameris slid into this RFP like a seasoned quarterback reading a predictable defense: they knew the plays, anticipated the moves, and were already warming up on the field.

Zero transition costs? ✅
No learning curve? ✅
A proposal built around metrics they already knew they’d crush? Big ✅.

But let’s not pretend this was mere coincidence. The Clerk’s scoring criteria gave Ameris a cozy cushion with a 20-point Rate of Return weight — double the value of any other metric. That’s like awarding bonus points for bringing your own calculator to a math test… when you're the one who wrote the exam.

Meanwhile, other contenders had flashier offers on the surface:

• Centennial Bank dropped its mic with no fees and decent returns.

• Capital City Bank tried the hybrid hustle, blending rates like they were crafting a civic cocktail.

Yet Ameris locked down the win with a simple but powerful combo:

• Higher net interest earnings

• A system already in place

• And just enough tech flair to keep up appearances

Is it sketchy? Not exactly. Is it shrewd? Absolutely. The county didn’t just choose stability — they chose familiarity wrapped in fiscal prudence.

💡 What’s changing?

• The general operating account will shift from a fee-neutral model (offset by earned credits) to a hybrid interest-earning one.

• Estimated annual interest: a sweet $163K (based on $4.5M average daily balance).

• Transition cost? Zero. Ameris already holds the account.

📊 Proposal Rundown:

• Four banks competed. Ameris scored highest in rate of return and net earnings.

• Others offered lower service costs, but Ameris crushed the interest earnings category and had enough credits to cancel out their fees.

• Every bank promised the five constitutional officers equal cost/rate access if they jump on board—like a fiscal group rate.

🧐 Points of Weirdness (or Curiosity):

• Centennial Bank had a $0 fee proposal with solid interest returns… but still ranked lower than Ameris. Curious how much weight was put on familiarity versus fresh opportunity.

• The evaluation criteria were weighted heavily toward financial return rather than actual banking service innovations. So much for “Service Enhancements.”

• The proposal mentions employee checking options and document shredding services. Shredding: underrated perk or ominous flex?

🎤 In Summary: Ameris Bank wins the crown, continuing their reign as Wakulla’s fiscal caretaker. The county leans toward continuity and net interest gain over bargain-bin fees—and perhaps a sprinkle of comfort with the familiar.