Full FDIC Insurance on Large Deposits
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What is the Insured Deposits Program?

How competitive are the interest rates under the IDP?

What is the amount of FDIC coverage with the IDP?

Am I charged any fees for participating in the Program?

What account types can participate in the Program?

Is there a minimum balance requirement?

How are funds accessed?

How do I access the rate?

How is information reported on the statement?

How is the interest earned in the Insured Deposit Program account treated for tax purposes?

Do I receive a passbook or other evidence of participation in the Insured Deposit Program

What banks are in the Program?

Will the Program Banks change?

Can a Program Bank be eliminated from receiving deposits in the Program?

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What is the Insured Deposit Program (IDP)?
The Insured Deposit Program is a result of a unique strategic alliance between Evolve Bank & Trust and Institutional Deposits Corp. (manager)

How competitive is the interest rate in the Insured Deposit Program?
The interest rate in the Insured Deposit Program is very competitive when compared to other investments offering similar liquidity and safety.

What is the amount of FDIC coverage with the Insured Deposit Program
The program currently offers placement of funds up to $10 million per each tax identification number of an account. Multiple accounts for one tax ID is also available for entities who would like to open accounts for different operational functions. FDIC covers both the principal and accrued interest in each account for any bank that fails. Importantly, each account type is calculated separately (individual versus joint versus trust versus business) — so a joint account and an individual account can each have up to, for example, $1 million (for a total of $2 million) and each would be fully covered by the applicable FDIC insurance under the Insured Deposit Program. For a more detailed explanation, please consult the FDIC website (www.fdic.gov) or the FDIC, Office of Consumer Affairs, by letter (55017th Street, N.W., Washington, DC 20429), by phone (877-275-3342), or by email ( ).

Are there fees for participating in the Program?
No. There are no fees for participating in the Program. However, we do make money from the Program based on the difference in the full rates paid by the Program Banks on cash invested in the Program and the amount that is paid to you.

What account types can participate in the Program?
There are a multitude of eligible accounts types, i.e. individual, corporate, non-profit, public, trust, etc.

Is there a minimum balance requirement
No. There is no minimum balance required.

How are funds accessed?
All clients may access funds by providing instructions to Evolve trust operations. Withdrawal requests may be subject to cut-off times (11:30 AM CST) during any given business day after which requests will not be honored until the following business day.

How do I access the rate?
Current rate information can be provided by contacting Andrew Cook, See Contact Us.

How is information reported on the statement?
You will receive a monthly statement that details your account balance, all activity, and a "deposit balance report" showing participating banks that are holding the deposits.

How is the interest earned in the Insured Deposit Program account treated for tax purposes?
Interest earned in the Insured Deposit Program is treated as ordinary income. Each account will be paid a rate of interest, which may fluctuate from time-to-time depending on market conditions. Call Evolve for a current prevailing rate. Interest will accrue daily from the date of deposit to the last full day before the date of withdrawal and will be credited to your Accounts monthly on the last day of the month and be paid on the first business day of the following month. There is no minimum period that money must remain on deposit and, consequently, there is no penalty for withdrawals of your entire balance or any part thereof at any time without notice.

Do I receive a passbook or other evidence of participation in the Insured Deposit Program?
No. A passbook or certificate of deposit is not issued. Evidence of ownership is reflected in our books and records as the custodian agent and, therefore, on the statement provided monthly.

What banks are in the Program?
Funds are only deposited in banks rated by the FDIC as “well-capitalized”. The status of participating banks is carefully monitored and if a bank falls under the “well capitalized” category, the bank is removed from the program.

Will the Program Banks change?
Yes. The Program Banks will change as more banks are added to the Insured Deposit Program. At various times a Program Bank may be removed from the Program as well. Not all participating banks may be receiving deposits at all times.

Can a client prohibit a Program Bank from receiving deposits in the Program?
Yes. A client may instruct that deposits not be placed with a specific participating bank, especially if there is already an existing relationship which would exceed $250,000 in FDIC deposit insurance. All clients are responsible for monitoring this activity and instructing Evolve to eliminate a specific bank by providing instructions to trust operations.

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