First State Bank of the Florida Keys has been awarded the Monroe County School District banking services contract.

Competing with four other banks through both a bid and cost negotiation process, First State Bank first earned the most points in the bid review process, then beat its closest competitor in a head to head price for services negotiation process, to earn the right to continue its 15 year banking business relationship with the School District.

“As the only community bank headquartered in Monroe County, we are proud to have earned the right to continue our long term banking relationship with the School District,” said Doria Goodrich, Executive Vice President, Personal Banking Executive & Corporate Secretary. “We’re proud to say that the real winner is our School District who received an excellent value for banking services based on their thorough bid review and negotiation process.”

The School District informed 225 prospective banking suppliers of the bid, seven suppliers actually obtained bid documents, but only four suppliers submitted bid offers by the due date.

First State Bank of the Florida Keys won the bid for banking services with the best products, services and pricing to meet the needs of the School District.

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