Bloomsdale Bank will handle the banking of the Ste. Genevieve County Ambulance District for the next five years.
The ambulance board voted last Thursday to award its banking business — bid out five years at a time — to Bloomsdale Bank.
All local banking institutions were invited to bid. Only First Bank, the district’s current service provider, and Bloomsdale Bank submitted bids.
Vice chair Don Kuehn had reviewed the bids and recommended Bloomsdale Bank on the basis of the bid package and the fact that it is locally owned.
“With First Bank changing this fall [to First State Community Bank], we’d have to be redoing a bunch of our routing numbers, our automatic withdrawals, deposits and all, anyway,” district director Kendall Shrum said.
The motion to accept Bloomsdale Bank’s bid passed unanimously.
“It’s going to take several months to get our direct deposits and withdrawals changed over,” Shrum said, “but we’re going to pull the chunk of change over and we’ll put it in there.”
The district has $234,196 in its checking account, $200,000 in a reserve account, $50,000 in the capital fund, and certificates of deposit (CDs) of $102,561 and $103,289.
See complete story in the May 27 edition of the Herald.