Christian County selects Guaranty Bank for depository contract, treasurer cites higher interest revenue
May 25, 2025 | Christian County, Missouri
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Christian County Commissioners voted to award the county's banking depository contract to Guaranty Bank, with the contract to take effect July 1 and run through June 20, 2029.
The decision followed a procurement process led by the county purchasing manager and an evaluation committee that scored bids on cost (70 percent) and non-cost factors (30 percent). Treasurer Blue told commissioners the committee found Guaranty Bank's interest formula would yield materially higher earnings for county funds than Ozark Bank's proposal.
"This came down to dollars," Treasurer Blue said during the meeting. She and other officeholders reported the likely yield difference at the time bids were received: about 4.45 percent under Guaranty's formula versus about 3.31 percent for Ozark's, producing a countywide interest difference the treasurer estimated at roughly $150,000 based on last year's balances.
The purchasing manager told the commission that six banks attended the pre-proposal conference and two formal proposals were received. The evaluation committee recommended Guaranty Bank after reference checks and scoring. Missouri statute 110.130 was cited at the meeting as the authority requiring the county to solicit proposals for depository services at periodic intervals; the transcript text referenced that statute by number.
Commissioners acknowledged the convenience loss of switching from the longtime local provider, Ozark Bank, which has served the county for more than 36 years. "Nothing's more convenient than walking across the street," one commissioner said, while Treasurer Blue and other officials said Guaranty offered a courier service as part of its proposal to handle daily deposits and reduce staff handling of cash.
Guaranty Bank representatives Whitney Morrow, executive vice president of treasury management, and Kelly Warren, assistant vice president of treasury management, attended the meeting and answered procedural questions. Commissioners and elected officeholders thanked Ozark Bank for its decades of service.
The commission approved RFP 2025-4 Banking Depository Services by motion and unanimous voice vote.
Officials said county offices will finalize operational details, including the courier schedule, before the July 1 transition.
The decision followed a procurement process led by the county purchasing manager and an evaluation committee that scored bids on cost (70 percent) and non-cost factors (30 percent). Treasurer Blue told commissioners the committee found Guaranty Bank's interest formula would yield materially higher earnings for county funds than Ozark Bank's proposal.
"This came down to dollars," Treasurer Blue said during the meeting. She and other officeholders reported the likely yield difference at the time bids were received: about 4.45 percent under Guaranty's formula versus about 3.31 percent for Ozark's, producing a countywide interest difference the treasurer estimated at roughly $150,000 based on last year's balances.
The purchasing manager told the commission that six banks attended the pre-proposal conference and two formal proposals were received. The evaluation committee recommended Guaranty Bank after reference checks and scoring. Missouri statute 110.130 was cited at the meeting as the authority requiring the county to solicit proposals for depository services at periodic intervals; the transcript text referenced that statute by number.
Commissioners acknowledged the convenience loss of switching from the longtime local provider, Ozark Bank, which has served the county for more than 36 years. "Nothing's more convenient than walking across the street," one commissioner said, while Treasurer Blue and other officials said Guaranty offered a courier service as part of its proposal to handle daily deposits and reduce staff handling of cash.
Guaranty Bank representatives Whitney Morrow, executive vice president of treasury management, and Kelly Warren, assistant vice president of treasury management, attended the meeting and answered procedural questions. Commissioners and elected officeholders thanked Ozark Bank for its decades of service.
The commission approved RFP 2025-4 Banking Depository Services by motion and unanimous voice vote.
Officials said county offices will finalize operational details, including the courier schedule, before the July 1 transition.
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