Convenience of Working with One Bank
Our bank is the only bank you will need to deal with for all CDARS and ICS related services, including deposits, reinvestments, withdrawals, and statements.
No need to manage multiple banking relationships since your statements and account details will all be in one place.
Choose from a variety of terms while enjoying flexible liquidity.
Your information and accounts stay safe, protected, and confidential.
Includes FDIC Insurance with CDARS and ICS. Your large deposits are automatically divided into amounts below the FDIC insurance limit and placed at multiple network banks. This gives you full FDIC coverage while you continue to work directly with D.L. Evans Bank.
In addition to your monthly statements, you will receive a single year-end 1099 that reports your taxable income (certain investors).
Ability to Earn CD-Level Returns
Features & Benefits
Multi-million-dollar peace of mind.
Enjoy the freedom to choose the service or combination of services that offer returns and access to the funds you seek.
How do CDARS & ICS work?
Institutions like ours that offer CDARS and ICS are members of a special network. When we place your deposit through the CDARS or ICS service, that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000. The amounts are then placed in CDs (using CDARS) or money market deposit accounts (using ICS) at multiple banks. As a result, you can access coverage from many institutions while working directly with just one. You receive one monthly statement from our bank for each service in which you participate. As always, your confidential information is protected.
Is it easy to deposit funds through CDARS?
Yes, it is as easy as 1,2,3.
Step 1: Set up your account with us and sign a CDARS Deposit Placement Agreement and custodial agreement.
Step 2: Agree to an interest rate with us for the CD maturity selected. We will ask you how you would like your interest to be paid––month-end, quarter-end, semi-annually, year-end, or at maturity––as well as interest proceeds placed into your D.L. Evans Bank account.
Step 3: Make your deposit. We will place your funds through CDARS or ICS into multiple CDs, each in an amount under the standard FDIC insurance maximum ($250,000), at other CDARS or ICS network institutions so that both principal and interest are eligible for FDIC coverage. When your CDs are issued, you will receive notification from us confirming your deposits.
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