Over $3 Million of FDIC Deposit Insurance Available on Individual Accounts and Over $6 Million of Coverage on Joint Accounts
MEMPHIS, Tenn. Sept. 22, 2008 — Evolve Bank and Trust is pleased to announce that it is making available the Deutsche Bank Insured Deposit Program which provides accountholders expanded FDIC-insured money market deposit accounts with protection up to $3 million per individual account, $6 million for joint accounts, daily liquidity and free online access. The Insured Deposit Program offers maximum safety of principal, flexibility, no minimum investment requirements, diversification of assets and a competitive money market interest rate. W. Scott Stafford, President and CEO of Evolve Bank and Trust, noted, "As the marketplace perseveres through times of unprecedented uncertainty and volatility, safety of investment is paramount. In its 75 years of existence, the FDIC has never defaulted on one penny of the deposits it protects, and it is this security that helps America sleep at night." The Insured Deposit Program is ideal for individuals, corporations, partnerships, IRAs, trust accounts, custodial accounts and non-profit organizations.
Through one consolidated statement, the Insured Deposit Program allocates accountholders' deposits to multiple well-capitalized banks. These fully disclosed banks are selected using key financial indicators for safety and soundness and are monitored at least quarterly. Key indicators include the asset sizes of the banks, leverage ratios, risk weighted capital ratios and gross revenue ratios. In addition to expanded FDIC insurance coverage, Evolve Bank and Trust, as custodian, maintains an insurance policy that includes coverage for fidelity, transit loss, check and securities forgery as well as policies for loss of contents.
In an environment in which the 3 Month U.S. Treasury is yielding a modest .96%, the Insured Deposit Program is an ideal solution which provides investors not only safety, liquidity and ease of access – but a competitive money market rate of return. Ronda Feldman, Chief Operating Officer and Co-Founder of Total Bank Solutions, stated, "The influx of dollars moving into the expanded FDIC-insured account sector is staggering, but the reason for this is quite simple. People want to know their money is safe."
For more information about the Insured Deposit Program, go to or call 866-367-4903.
CONTACT:
W. Scott Stafford
901.624.5500
Email
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