The Anderson-Cottonwood Irrigation District considered a proposal to move its banking, investment and treasury-management services to Five Star Bank, according to the district’s Oct. 8 board packet.
Resolution 2026-10 would authorize Five Star services including banking, investment management, treasury management, credit cards and remote-deposit capture. It would transfer accounts, funds and services from Tri Counties Bank, which holds the district’s checking account, and RBC Wealth Management, which holds its investment accounts.
The resolution names General Manager and Secretary Daniel Ruiz, Office Manager Shawna Bell and Vice President Garrett Wallis as authorized signers on Five Star deposit accounts. Ruiz, Finance Manager Andromeda Herlihy and Board President Ivar Amen would be authorized to manage investment and treasury accounts. The resolution also lists Ruiz, Herlihy and Operations Manager Ben Duncan as potential district credit-card holders.
The proposal followed a Sept. 25 presentation by Five Star representatives. The presentation described keeping about $250,000 in an operating account and automatically sweeping excess funds into interest-bearing accounts tied to the Local Agency Investment Fund rate. It also highlighted Positive Pay, ACH Positive Pay and monitoring of suspicious transactions as fraud-prevention tools.
The district reported about $17.64 million in active operating cash on Sept. 30, including roughly $14.87 million in RBC investments and $2.38 million in LAIF. The board discussion included questions about FDIC coverage, interest rates, fees, account security and implementation timing.
The Oct. 8 resolution contains blank fields for ayes, noes, absences and abstentions, and the packet does not establish whether the board adopted it. It also does not specify transition timing, final fees or whether the district ultimately ended its Tri Counties and RBC services.
