FDIC SweepMercury Extended

How does it work?

Subject to the terms of the Mercury Deposit Program, Program Banks are Federal Deposit Insurance Corporation, FDIC, insured bank partners of Evolve Bank & Trust that may hold funds as part of the Mercury Deposit Program. Cash deposited to these Program Banks will be covered by FDIC insurance up to a total maximum of $5,000,000 in the aggregate. The end user is able to opt out of available Program Banks however, FDIC insurance may be reduced or forfeited. Funds held at Program Banks may be held at such Program Banks in a non-insured capacity as Excess Banks. Please see the  Mercury Deposit Program Custodial Agreement for the terms and conditions and additional information.

What is a Program Bank?

Program Banks are FDIC insured bank partners of Evolve that may hold funds as part of the Mercury Deposit Program. Cash deposited to these Program Banks will be covered by FDIC insurance up to a total maximum of $5,000,000. The end user is able to opt out of available Program Banks however, FDIC insurance may be reduced or forfeited.

What is an Excess Bank?

Funds over $5,000,000 will be had at such Program Banks in a non-insured capacity as Excess Banks.

The following are Evolve’s FDIC-Insured Program Banks as of September 7, 2023. Please note: Evolve may change the network of Program Banks at any time. Notice of material changes to Bank List will be communicated to customers in accordance with the applicable terms.

Mercury Extended Deposit Program Banks

    • Bank of Houston, N.A.

    • Bank of New England

    • Bank United

    • Bankwell Bank

    • Bell Bank

    • Bridgewater Bank

    • Byline Bank

    • Cadence Bank

    • Capital One Bank (USA), N.A.

    • CF Bank

    • City National Bank

    • City National Bank of Florida

    • Cornerstone Bank (KS)

    • CrossFirst Bank

    • Dogwood State Bank

    • Enterprise Bank

    • Evolve Bank & Trust

    • First Bank (NJ)

    • First Foundation Bank

    • First Horizon

    • First United Bank and Trust Company (OK)

    • Flagstar Bank, N.A.

    • Fortis Private Bank

    • Forbright Bank

    • Gateway First Bank

    • Hiawatha Bank

    • IDB Bank

    • Luther Burbank Savings

    • Manufacturers and Traders Trust

    • Maplemark Bank

    • NexBank

    • Oakwood Bank

    • Old National Bank

    • Quaint Oak Bank

    • ServisFirst Bank

    • State Bank of Texas

    • Stearns Bank

    • Susser Bank

    • Texas Bank

    • Texas Capital Bank

    • Third Coast Bank

    • TIAA Bank

    • Tradition Capital

    • TriState Capital Bank

    • Truxton Trust Company

    • UBank

    • United Texas Bank

    • Webster Bank

How do I access my funds?

The Mercury Expanded Deposit Program offers customers convenience to be able to access their money all in one place. Even though, some of your funds have been swept to other banks, you can access everything through Evolve Bank & Trust. No extra logins, no extra emails, or paper statements. Everything you need is with Evolve.

That convenience should make it easier to keep track of your funds and make transactions whenever you need to.

If you have questions about Evolve’s FDIC Sweep program, please click the button below to get in touch!

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