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July 9, 2024 <br />City of Sunny Isles Beach, FL <br />RE: Request for ProposalGeneral Banking Services <br />We are pleased to offerthe City of Sunny Isles Beach, FL, the following proposed banking solutions that <br />will allow for a smooth transition, cost savings and interest income: <br />Dedicated Government Solutions Team and SeniorTreasury Management Consultant <br />Earnings Credit Rate (ECR)will start at0%but this rate will be managed for the life of the <br />contract, meaning Synovus will adjust the rate depending on the rate environment so the City <br />will always be maximizing their funds. With the rates where they are currently,we feel the <br />earnmore if the full collected balances are applied tothe Interest Rate of <br />(Target Federal Funds Rate -.75%). The City will pay thefullamount of the fees on a monthly <br />basis, but the interest earned will outweighthose fees and then some. <br />The Interest Rate on excess balances will be based on the Target Federal Funds Rate -.75% <br />(current interest rate at this time would be 4.75%). <br />Waiver of all fees for 6months, so interest would be earned on dollar one. <br />$1,000annual supply credit for bank supplies (deposit slips, stamps, tamper evident bags etc.). <br />Proposed line-item pricing guaranteed for the life of the contract. <br />Customized conversion and implementation plan with tailored training on Synovus services. <br />All online services are providedthrough a single sign-on encrypted log-in process. <br />Synovus Bank appreciates the opportunity to submit this proposal and looks forward to your favorable <br />response. Ifyou should have any questions or need additional information, please do not hesitate to <br />contact us. <br />July 12, 2024Page 5 <br />City of Sunny Isles Beach RFP 24-06-01 <br />Banking Services - Synovus Bank Submission <br /> <br />