The Demand Deposit Marketplace
®
Program
Terms and Conditions
As of August 28, 2023
I. Introduction
The Demand Deposit Marketplace
®
Program (“Program") is offered by Bridges Trust Company
and or Bridges Trust Company of South Dakota ("Bridges") as an option to place your cash
balances into insured accounts at FDIC member banks. Your funds will be deposited in money
market deposit accounts (“MMDAs”) and demand deposit accounts (“DDAs”; MMDAs together
with DDAs, are referred to as “Deposit Accounts”) at participating or receiving banks
(“Receiving Banks” or “banks”), subject to the limitations described herein. Your funds that
are deposited through the Program into the Receiving Banks are hereinafter referred to as
“Program Deposits.” By selecting the Program, you appoint Bridges as your authorized agent
pursuant to the Terms and Conditions set forth herein. Bridges will open an account on your
behalf at an FDIC-insured depository institution (“Intermediary Bank”) to enable you to
access the Program.
Stable Custody Group II LLC sponsors the Program (“Administrator”) and acts as agent of
Bridges. Stable delegates certain administrative duties to its affiliate, Reich & Tang Deposit
Solutions, LLC.
By participating in this Program, you can increase the FDIC protection on your cash balances.
The amount of cash balances covered under FDIC protection will depend on the deposit limits
imposed by the FDIC, funds held temporarily at the Intermediary Banks, the number of Receiving
Banks in the Program, and the number of Receiving Banks excluded from holding your Program
Deposits. The total amount of FDIC protection will change from time to time. Please contact
Bridges to identify the current limits in place at any given time.
YOU ACKNOWLEDGE THAT YOU HAVE RECEIVED AND CAREFULLY READ THESE TERMS AND
CONDITIONS IN CONNECTION WITH CHOOSING TO ENROLL IN THE PROGRAM. IF YOU HAVE
ANY QUESTIONS OR DO NOT WISH TO HAVE YOUR CASH BALANCES PARTICIPATE IN THE
PROGRAM, PLEASE CONTACT YOUR RELATIONSHIP MANAGER AT BRIDGES.
BY APPOINTING BRIDGES TO SERVE AS YOUR AGENT FOR PARTICIPATION IN THE PROGRAM,
THESE TERMS & CONDITIONS BECOME A BINDING CONTRACT BETWEEN YOU AND BRIDGES.
II. Summary of Terms and Conditions
This section of the Terms and Conditions is a summary of certain features of the Program. It is
prepared for your convenience, and must be read in conjunction with the more detailed
disclosure below.
Summary of the Program: Administrator operates the Program. If you choose to participate,
Bridges will act as your agent and place your cash balances into the Program. Your Program
Deposits will be deposited into Deposit Accounts at multiple Receiving Banks in a manner
designed to remain within the FDIC insurance limit at each Receiving Bank, which in the
aggregate increases the amount of FDIC protection available to you. FDIC insurance coverage is
available up to its standard maximum deposit insurance amount (“SMDIA”), which is
$250,000, per legal category of account ownership at each bank.
Your Program Deposits are allocated among the Receiving Banks to maximize FDIC coverage.
The amount of FDIC insurance coverage available through the Program is based, generally, on
the number of Receiving Banks. The level of insurance may change from time-to-time. You
should ask Bridges if you want to know the current level of FDIC insurance coverage available
to you under the Program.
Access to Funds: You will access Program Deposits through your relationship with Bridges. As
required by federal banking regulations, each Program Bank has reserved the right to require seven
(7) calendar days prior notice before permitting a withdrawal of any Program Deposits from a
Deposit Account that is an MMDA. So long as this right is not exercised, your ability to access funds,
including the ability to withdraw funds from the Program, should not be impacted.
Notwithstanding the foregoing, you will remain obligated for all obligations arising from your
account, including, but not limited to, settlement of transactions, checks, and wires.
Determination of Interest Rates: Your interest rate on Program Deposits is based on rates
payable by Receiving Banks. Contact Bridges with any questions about your rate. See Section
III.J, Interest.
Fees: Bridges does not charge fees for account balances participating in the Program and does
not receive Program compensation for non-taxable account (i.e., IRA and ERISA accounts) cash
balances within the Program. Administrator earns fees based on the amount of money in the
Program, including your Program Deposits. The deduction of these fees generally reduces the
amount of funds available from Receiving Banks to pay you interest and Bridges does not
participate or receive fees earned by the Administrator. See Section III.K, Fees.
Bridges will, however, receive compensation in connection with the Demand Deposit
Marketplace Program for taxable accounts (i.e., accounts not covered under ERISA, IRA or
other restrictions). Such compensation, which is based on client cash balances from taxable
accounts in the Program, is determined from time to time by Bridges. Bridges’
compensation is determined by calculating the difference between rates paid by the
Program and the Customer Daily Accrual Standard Rate paid to Customers from taxable
accounts. Currently, taxable accounts are paid up to 5.00% annual percentage rate
of aggregate client balances swept into Program Deposit Accounts originating from
taxable accounts. Please note that this amount is subject to change as interest rates paid
in the marketplace change as well as the difference between the Customer Daily Accrual
Rate paid to customers changes.
This compensation arrangement represents a conflict of interest in that it gives Bridges a
financial incentive to have clients participate and maintain cash balances in the Program.
Clients with accounts that are charged an investment management fee will pay a fee on all
assets in those accounts, including cash balances in the Program, which means that Bridges
receives both the asset-based investment management fees and compensation under the
Program on such cash balances.
Cash balances swept into the Program will earn a rate of interest that has been established for,
and in light of, the features of the Program. The interest rate paid on taxable account cash
balances will be determined by Bridges and based on its determination of comparable deposit
accounts and alternatives. The interest rate paid on non-taxable account cash balances such
as cash balances swept from Individual Retirement Accounts, ERISA accounts and other accounts
in which Bridges does not receive compensation in connection with the Program, will be based
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on the interest paid by the Program and passed through. Generally, the rate you will earn
through the Program will be lower than yields on other cash alternatives that are available to
you for investment outside of the Program.
Risks of the Program:
If you have funds at a Receiving Bank outside the Program, this may negatively impact the
availability of FDIC insurance at such Receiving Bank. If your deposits in a Receiving Bank exceed
the then current SMDIA of such bank, the excess funds are not covered by the FDIC deposit
insurance. You are solely responsible for monitoring your deposits in Receiving Banks outside of
the Program.
As such, you should review the list of Receiving Banks carefully. The list of
Receiving Banks may change from time to time, and you may contact Bridges directly to obtain
the most recent Demand Deposit Marketplace Participating Institution List or by visiting
www.bridgestrust.com and clicking Disclosures. You are responsible for instructing Bridges to
exclude your account(s) from the Program if you do not want your Program Deposits deposited
at any of the Receiving Banks. See Sections III.D, Deposits and FDIC Insurance, and III.G, Ability
to Exclude Receiving Banks.
In the event of a failure (i.e., the closing of a bank by a federal or state banking regulatory
agency) of a Receiving Bank, there may be a time period during which you may not be able to
access your money. Where your funds are held in MMDAs, the return of your funds may be
delayed. Receiving Banks are permitted to, but rarely do, impose a delay of up to seven days
on any withdrawal request from an MMDA.
In the event Administrator, Intermediary Banks and/or Receiving Banks refuse deposits or
identify maximum deposit limitations in which Bridges determines could be exceeded, Bridges
may sweep your cash balances to other available sweep options or purchase US Government
backed securities deemed to be in your best interest by Bridges’ Chief Investment Officer.
A Money Market Fund (non-FDIC Insured Sweep) alternative will be made available to sweep
cash balances if needed or anticipated in the event that deposit limitations are anticipated or
imposed by Intermediary or Receiving Banks. Cash allocations invested in a money market fund
are subject to money market fund’s management, distribution, transfer agent and other
expenses for which Bridges does not participate, limitations and risks identified within a fund’s
prospectus including but not limited to redemption limitations, valuation changes that could
result in redemptions at less than the original investment amount, differing returns than those
earned on other sweep alternatives, and are not FDIC insured.
III. Detailed Terms and Conditions
A. Account Eligibility
This Program is available to individuals and all other entities, including corporations, public
entities and not-for-profit entities, eligible to maintain a bank deposit. It is your responsibility
to ensure that the Program satisfies your particular objectives or guidelines and/or applicable
law. In order to obtain FDIC insurance in the Program, you must provide proper tax and other
identification information to Bridges.
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B. Agency Relationships
Bridges is acting as your agent in establishing and maintaining bank deposit accounts at
Receiving Banks. Bridges appoints the Intermediary Banks as custodial agent. Intermediary
Banks appoint Administrator to allocate your funds and provide certain other services with
respect to the Program. When you enroll in the Program, you appoint Bridges as your custodial
agent to effect deposits to and withdrawals from the Deposit Accounts. The allocation process
administered by Administrator determines into which Receiving Bank(s) your money will be
deposited to maximize the amount of FDIC insurance available to you. See Section III.I,
Allocations to Receiving Banks. The custodian bank for the overall Program (currently Huntington
National Bank) (“Custodian Bank”) is solely responsible for the actual movement of funds within
the Program to and from Receiving Banks. All Program funds remain under the custodial control
of Bridges, Intermediary Bank, or the Custodian Bank at all times.
C. Information about Administrator
Administrator is a Delaware limited liability company. Administrator is not a bank, credit union,
broker-dealer, or investment adviser. None of the Receiving Banks are an affiliate of the
Administrator. The Administrator administers the Program.
D. Deposits and FDIC Insurance
Your funds intended for deposit into the Program must be placed through an account at Bridges
and cannot be placed directly by you with any of the Receiving Banks.
Cash balances in your Bridges account(s) will be automatically deposited into the Program by
the applicable sweep cutoff time established by the Administrator and Bridges on business days
in which Administrator, Bridges and Intermediary Banks are open for business. Cash balances
resulting from deposits posted to your Bridges account after the cutoff time will be deposited
into the Program the following business day. Cash balances waiting to be deposited into the
Program will not begin earning interest and will not be eligible for FDIC insurance until
deposited into the Program the following business day.
Once in the Program, your Program Deposits will be allocated to one or more omnibus Deposit
Accounts maintained at the Receiving Banks held in the name of "Stable Custody Group II LLC,
as Agent, for the Exclusive Benefit of its DDM Participating Institutions, as Agent, for the
Exclusive Benefit of its DDM Customers, Acting for Themselves and/or Acting in a Fiduciary
Capacity for Others” or a similar name that preserves the eligibility of Program Deposits for
pass-through FDIC insurance. See Section III.I, Allocations to Receiving Banks.
Your Program Deposits are allocated to accounts at the Receiving Banks to provide you with up
to $250,000 of FDIC insurance per Receiving Bank, subject to certain exceptions described
herein. The $250,000 limit (i.e., the SMDIA) includes your principal and accrued interest, when
aggregated with all other deposits held by you directly, or through others, in the same
recognized legal category of ownership at the same Receiving Bank. FDIC deposit insurance
protects you against the loss of your insured deposits in the event a Receiving Bank fails. FDIC
deposit insurance is backed by the full faith and credit of the United States.
If you have money at a Receiving Bank outside the Program, this may negatively impact the
availability of FDIC insurance for the total amount of your funds held at that bank. If your
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deposits at a Receiving Bank, in aggregate, exceed the then current SMDIA, the excess funds
are not covered by the FDIC deposit insurance. Bridges, the Receiving Banks and Administrator
are unaware of your funds outside of the Program. As a result, these funds will not be taken
into account when allocating your funds to a particular Receiving Bank. You are solely
responsible for monitoring your deposits in Receiving Banks outside of the Program and for
notifying Bridges to exclude your account from the program if you wish to exclude any particular
Receiving Bank from receiving your funds. You should review the attached list of Receiving
Banks carefully on EXHIBIT A. The list of Receiving Banks may change from time to time, and
you may contact Bridges directly to obtain the most recent Demand Deposit Marketplace
Participating Institution List or by visiting www.bridgestrust.com and clicking Disclosures.
For example, if the then current SMDIA is $250,000 and you have a non-Program deposit account
at Bank A of $200,000 and you also have $60,000 in the Program Deposits account at the same
bank in the same legal category of ownership, only $250,000 of your $260,000 is insured by the
FDIC.
In the event that a Receiving Bank that holds your Program Deposits fails, payments of principal
plus unpaid and accrued interest up to the then current SMDIA per legal category of account
ownership will be made to you. Although the FDIC normally makes these payments within a few
days of taking possession of a bank as receiver, there is no specific time period during which
the FDIC must make insurance payments available. Furthermore, you may be required
to provide certain documentation to the FDIC before insurance payments are made.
Your account ownership will be evidenced by an entry on records maintained by Administrator
acting on behalf of Bridges for each of the Receiving Banks at which your funds are on deposit.
You will not be issued any evidence of ownership of a Program Deposit account, such as a
passbook or certificate.
E. FDIC Deposit Insurance for FDIC-Recognized Categories of Account Ownership; Multi- Tiered
Fiduciary Relationships
To ensure that your Program Deposits are protected by FDIC insurance to the fullest extent
possible under the Program, you should understand how FDIC insurance applies to each FDIC-
recognized category of account ownership.
In general, the FDIC-recognized categories of account ownership include single ownership
accounts; accounts held by an agent, escrow agent, nominee, guardian, custodian, or
conservator; annuity contract accounts; certain joint ownership accounts; certain revocable
trust accounts; accounts of a corporation, partnership, or unincorporated association; accounts
held by a depository institution as the trustee of an irrevocable trust; certain irrevocable trust
accounts; certain retirement and other employee benefit plan accounts; and certain accounts
held by government depositors.
The rules that govern these categories of account ownership are very detailed and very
complex, and there are many nuances and exceptions. Complete information can be found at
the FDIC’s regulations set forth at 12 C.F.R. Part 330.
The FDIC’s regulations impose special requirements for obtaining pass-through FDIC insurance
coverage, up to the SMDIA (currently $250,000 for each FDIC-recognized category of account
ownership), for multiple levels of fiduciary relationships. In these situations, in order for FDIC
insurance coverage to pass through to the true beneficial owners of the funds, it is necessary
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(i) to expressly indicate, on the records of the insured depository institution that there are
multiple levels of fiduciary relationships, (ii) to disclose the existence of additional levels of
fiduciary relationships in records, maintained in good faith and in the regular course of business,
by parties at subsequent levels, and (iii) to disclose, at each of the level(s), the name(s) and
the interest(s) of the person(s) on whose behalf the party at the level is acting. No person or
entity in the chain of parties will be permitted to claim that they are acting in a fiduciary
capacity for others unless the possible existence of such a relationship is revealed at some
previous level in the chain. If your Program Deposits are beneficially owned through multiple
levels of fiduciary relationship, you must take steps to comply with these special requirements.
Please note the Program is NOT, itself, an FDIC-insured product. Rather, under the Program,
customer funds are swept to and from deposit accounts at participating banks or institutions
that are insured by the FDIC up to the SMDIA (currently $250,000 for each FDIC-recognized
category of account ownership), for multiple levels of fiduciary relationships.
For questions about FDIC insurance coverage, you may call the FDIC at 877-275-3342 or visit the
FDIC’s web site at www.fdic.gov.
You also may wish to utilize “EDIE The Estimator,” the FDIC’s electronic insurance calculation
program, which is found at https://www.fdic.gov/edie/index.html. Other information
regarding FDIC insurance coverage may be found at the FDIC’s Consumer Resource Center
section of the FDIC’s website at https://www.fdic.gov/resources/ consumers/index.html.
F. Withdrawals
Withdrawals from your Program Deposits are made through Bridges and cannot be made directly
by you through any of the Receiving Banks. Funds from the Program Deposits will generally be
available to you on the same day you make the withdrawal request provided it is placed prior
to the “Cut-Off Time” for the Program. In the event that Bridges does not receive enough funds
to cover your entire withdrawal request (if, for example, Receiving Banks fail to send funds as
instructed by Administrator or Receiving Banks are closed due to holidays or other events), the
funding of all or a portion of your withdrawal requests could be delayed.
G. Ability to Exclude Receiving Banks
You will have access to the list of Receiving Banks that hold your deposits upon request. You
may contact Bridges directly to obtain the most recent Demand Deposit Marketplace
Participating Institution List or by visiting www.bridgestrust.com and clicking Disclosures. You
may not exclude a specific Receiving Bank from receiving funds from you under the Program but
you may opt out of participation in the Program by notifying Bridges to assist you with identifying
alternatives. You can obtain publicly available financial information concerning any of the
Receiving Banks at http://www.ffiec.gov/nicpubweb/nicweb/nichome.aspx or by contacting
the FDIC Public Information Center by mail at 3501 North Fairfax Drive, Room E-1005, Arlington,
VA 22226 or by phone at 877-ASK-FDIC (877-275-3342). Neither Administrator nor Bridges is
responsible for any insured or uninsured portion of any deposits at any Receiving Bank or
guarantees the financial condition of any Receiving Bank or the accuracy of any publicly
available financial information concerning a Receiving Bank.
If, on a Business Day, you have outstanding deposits that Bridges has placed for you using the
Certificate of Deposit Marketplace
SM
program (“CDM program”) also administered by
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Administrator, and you have provided the same taxpayer or other identification number for
purposes of the Program and the CDM program, the allocation of your funds for that Business
Day in the Program will not cause the balance in your Deposit Accounts at a Receiving
Bank, together with the outstanding deposits, if any, that we placed for you at that Receiving
Bank in the same FDIC category of ownership through the CDM program, to exceed the SMDIA.
H. Monitoring Your Deposit or Investment Options
For certain accounts, Bridges has discretionary authority and/or acts as a fiduciary with respect
For other accounts, where Bridges does not have discretionary authority or act as a fiduciary,
Bridges does not have any obligation to monitor your account or make recommendations about,
or changes to, the Program that might be beneficial to you.
As interest rates and other factors change, it may be in your financial interest to change your
deposit instructions. In any situation, please contact Bridges to learn about other options.
I. Allocations to Receiving Banks
Administrator establishes Deposit Accounts at Receiving Banks. You authorize Bridges to act as
your agent to place funds into the Program through Intermediary Bank. Intermediary Bank
appoints Administrator to act as agent with respect to allocation of funds and the establishment
of Deposit Accounts at each Receiving Bank. The Deposit Account constitutes a direct obligation
of the Receiving Bank and is not directly or indirectly an obligation of Administrator, Bridges,
Intermediary Bank or the Custodian Bank. You authorize Bridges to place your funds into the
Program through Intermediary Bank. Your funds are then allocated each Business Day by
Administrator to Receiving Banks based on an objective allocation algorithm that takes into
consideration any Receiving Banks excluded by you as described in Section III. G above. Any
movements of funds within the Program among Receiving Banks are executed by the Custodian
Bank pursuant to instructions from Administrator. Administrator’s instructions are based on an
objective allocation algorithm that takes into consideration various factors, including the target
level of Program deposits for each Receiving Bank. Administrator may include additional
Receiving Banks to expand the capacity available to underlying customers of the Sending
Institutions. Receiving Banks may decide to discontinue their participation in the Program, or
may be removed by Administrator for no longer satisfying Program requirements.
You can contact Bridges at any time for the current list of Receiving Banks and Intermediary
Banks or you can view the most recent Demand Deposit Marketplace Participating Institution
List online by visiting www.bridgestrust.com and clicking Disclosures. It is possible that Bridges
may use multiple Intermediary Banks to access the Program for the benefit of its customers.
You cannot specify an amount of funds to be allocated to specific Receiving Banks, but you can
exclude your account from the program if you wish to exclude any particular Receiving Bank
from receiving your funds. All of the allocations of funds in the Program are made on a non-
discretionary basis.
J. Interest
The interest rate paid to you is based on rates payable by banks in the Program that act as
Receiving Banks, but not as Sending Banks (“Receive Only Banks”). Rates are reset and
announced periodically based on market changes in the underlying rates paid by Receive Only
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Banks. Contact Bridges to obtain the current interest rate being paid to customers and other
account information. The rate you earn on your Program Deposits may be higher or lower than
the rates available to depositors making deposits directly with Receiving Banks or with other
depository institutions in comparable accounts. In the event of the failure of a Receiving Bank,
no interest is earned on Program Deposits from the time such a Receiving Bank closes until
insurance payments are received. You should compare the terms, rates of return, required
minimum amounts, charges and other features of a Program Deposit with other accounts and
investment alternatives. There is generally no minimum period that your money must remain
on deposit, and there is no penalty for withdrawal of your entire balance, or any part thereof,
at any time. Payment of the full amount of all accrued interest with respect to your Program
Deposit at a Receiving Bank will be solely the responsibility of, and solely enforceable against,
that Receiving Bank. Bridges will have no indebtedness to you for any such amount.
K. Fees
Bridges does not charge Program fees for account balances participating in the Program and
does not receive Program compensation for non-taxable account (i.e., IRA and ERISA accounts)
cash balances within the Program. Administrator earns fees based on the amount of money in
the Program, including your Program Deposits. The deduction of these fees generally reduces
the amount of funds available from Receiving Banks to pay you interest and Bridges does not
participate or receive fees earned by the Administrator.
Bridges will, however, receive compensation in connection with the Program for taxable
accounts (i.e., accounts not covered under ERISA, IRA or other restrictions). Such
compensation, which is based on client cash balances from taxable accounts in the Program, is
determined from time to time by Bridges. Bridges compensation is determined by calculating the
difference between rates paid by the Program and the Customer Daily Accrual Rate paid to
Customers. Please note that this amount is subject to change and will increase as the difference
increases between the interest rates paid in the marketplace (which affects the amounts paid
by the Program) and the Customer Daily Accrual Rate paid to customers.
This compensation arrangement represents a conflict of interest in that it gives Bridges a
financial incentive to have clients participate and maintain cash balances in the Program.
Clients with accounts that are charged an investment management fee will pay a fee on all
assets in those accounts, including cash balances in the Program, which means that Bridges
receives both the asset-based investment management fee and compensation under the
Program on such cash balances.
L. Account Statements
All activity with respect to your Program Deposits, including interest earned for the period
covered will appear on your Bridges statement, including the total of your opening and closing
Program Deposit balances. You will not receive a separate statement from the Receiving Banks.
Your periodic account statement will be provided to you periodically in accordance with
Bridges’ policies. You should retain all account statements. Bridges will provide you with the
name of each Receiving Bank that holds your funds upon request.
You must notify Bridges immediately of any discrepancies noted in your account statement and
in no event later than thirty (30) days after the date of the account statement in which the
problem or error first appeared.
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M. Tax Reporting
The interest that you receive from your Program Deposits is generally fully subject to state and
federal tax. To the extent required, interest and income will be reported on the IRS Form 1099
sent to you by Bridges each year, showing the amount of interest income you have earned from
your Program Deposits. You will not receive a Form 1099 if you are not a citizen or resident of
the United States.
N. Business Continuity
In the event you are unable to contact Bridges due to a business interruption event, such as a
natural disaster, you may contact Administrator or its agent at 866-237-2752 for account
information.
O. Other Terms
Limits on Transfers from MMDAs under Regulation D: Federal banking regulations limit the
transfers from MMDAs to a total of six (6) during a monthly statement cycle, and certain
aggregation rules may apply to transfers from such accounts at the Receiving Banks. These limits
on transfers will not limit the number of withdrawals you can make from your Program Deposits.
Inactive Accounts: Bridges and the Receiving Banks may be required by law to turn over
(escheat) your Program Deposits to a state, typically your state of residence, based on account
inactivity for a certain time period established by applicable state law. If Program Deposits are
remitted to the state, you may file a claim with the state to recover the funds.
Transferability: Your Program Deposits may not be transferred by you. A transfer that occurs
due to death, incompetence, marriage, divorce, attachment or otherwise by operation of law
shall not be binding unless and until sufficient, acceptable documentation has been received.
Termination: Bridges may, at its sole discretion, and without any prior notice, terminate your
participation in the Program. If you close your account at Bridges, your associated Program
Deposit account will also be closed and your funds will be distributed out to you.
Ordinary Care: Any failure by Administrator or any Receiving Bank to act or any delay by such
party beyond time limits prescribed by law or permitted by these Terms and Conditions is
excused if caused by your negligence, interruption of communication facilities, suspension of
payments by another financial institution, war, emergency conditions or other circumstances
beyond the control of such party, provided such party exercised such diligence as such
circumstances would normally require. You agree that any act or omission made by
Administrator or any Receiving Bank in reliance upon or in accordance with any provision of the
Uniform Commercial Code as adopted in New York, any rule or regulation of the State of New
York, the Federal Reserve or FDIC, or a federal agency having jurisdiction over such party shall
constitute ordinary care.
Personal Information: The use of your information is governed by the privacy policy of Bridges.
With respect to the Program, you understand and agree that Administrator, including its
affiliates, the Receiving Banks, Bridges and their service providers may obtain such information
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as may be necessary for legitimate business needs in connection with the operation of the
Program. Such information will be shared among the parties only for use in providing the
services hereunder and as otherwise legally required. For information regarding the collection,
processing and use of your personal information and your rights to limit the use and disclosure
of such information, you should contact Bridges. Administrator will never use your personal
information for any purpose other than to perform its role as administrator of the Program.
Administrator’s privacy policy is available online at www.ReichandTang.com.
Alternatives to the Program: By enrolling in the Program, you agree to the terms and conditions
provided herein. You understand that, at any time, you may terminate your participation in the
Program. If you terminate, the funds held through the Program will be sent back to your account
at Bridges.
Days of Operation: The Program will operate on all days when the Federal Reserve Bank of New
York is open for business.
Mutual Institution and Subscription Rights: Your funds may be placed in a Deposit Account at
a Receiving Bank that is in the mutual form of organization. Such a Deposit Account will be
identified on the books of the mutual institution as described in Section III. D, Deposits and FDIC
Insurance, and not in your name. Bridges and Administrator will not attend or vote at any
meeting of the depositor members of a mutual institution or exercise any subscription rights in
a mutual institution’s mutual-to-stock conversion, either on its own or on your behalf. You
hereby waive any right you may have to vote at any meeting of the depositor members, or to
receive or exercise any subscription rights you may have in the event that the mutual institution
converts from mutual to stock form, even if you held a Deposit Account as of an applicable
record date.
Limitation of Liability. TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT SHALL
BRIDGES, INTERMEDIARY BANK, ADMINISTRATOR OR THEIR AFFILIATES BE LIABLE FOR ANY
INDIRECT, CONSEQUENTIAL, EXEMPLARY, SPECIAL, INCIDENTAL OR PUNITIVE DAMAGES OF ANY
NATURE, WHETHER SUCH LIABILITY IS ASSERTED ON THE BASIS OF CONTRACT, TORT (INCLUDING
NEGLIGENCE OR STRICT LIABILITY) OR OTHERWISE, INCLUDING WITHOUT LIMITATION, LOSS OF
PROFITS, GOODWILL OR BUSINESS INTERRUPTION.
Legal Process: Administrator, Intermediary Bank, Bridges, and the Receiving Banks may comply
with any writ of attachment, execution, garnishment, tax, levy, restraining order, subpoena,
warrant or other legal process, which such party reasonably and in good faith believes to be
valid. Bridges may notify you of such process by telephone, electronically or in writing. You
agree to indemnify, defend and hold Administrator, Bridges, Intermediary Bank and the
Receiving Banks harmless from all actions, claims, liabilities, losses, costs, attorneys’ fees, and
damages associated with their compliance with any process that such party believes reasonably
and in good faith to be valid. You further agree that Administrator, Bridges, Intermediary Bank,
and the Receiving Banks may honor legal process that is served personally, by mail, or by
facsimile transmission at any of their respective offices (including locations other than where
the funds, records or property sought is held), even if the law requires personal delivery at the
office where your Program Deposit records are maintained.
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P. General
Amendment: Bridges may modify these Terms and Conditions at any time, upon notice to you.
Waiver: Any provision of these Terms and Conditions may be waived if, but only if, such waiver
is in writing and is signed by the party against whom the waiver is to be effective. No failure or
delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver
thereof nor shall any single or partial exercise thereof preclude any other or further exercise
thereof or the exercise of any other right, power or privilege.
Severability: If any term, provision, covenant or restriction of these Terms and Conditions is
held by a court of competent jurisdiction or other authority to be invalid, void or
unenforceable, the remainder of the terms, provisions, covenants and restrictions of these
Terms and Conditions shall remain in full force and effect and shall in no way be affected,
impaired or invalidated.
Entire Agreement: These Terms and Conditions and any other documents provided by Bridges
to you in connection with the Program constitute the entire agreement between Bridges and
you, and supersede all prior and contemporaneous agreements and understandings, both oral
and written, between Bridges and you with respect to the subject matter hereof. EXCEPT AS
EXPRESSLY SET FORTH IN THESE TERMS AND CONDITIONS, BRIDGES MAKES NO REPRESENTATIONS
OR WARRANTIES (ORAL OR WRITTEN, STATUTORY, EXPRESS, IMPLIED OR OTHERWISE)
INCLUDING, WITHOUT LIMITATION, AS TO MERCHANTABILITY, FITNESS FOR PURPOSE,
CONFORMITY TO ANY DESCRIPTION OR REPRESENTATION, NON-INTERFERENCE OR NON-
INFRINGEMENT.
Binding Effect: These Terms and Conditions shall inure to the benefit of and be binding upon
the parties hereto and their respective permitted heirs, successors, legal representatives and
assigns. Nothing in these Terms and Conditions, expressed or implied, is intended to confer on
any person other than the parties hereto, and their respective permitted heirs, successors,
legal representatives and assigns, any rights, remedies, obligations or liabilities under or by
reason of these Terms and Conditions; provided that Administrator shall be a third party
beneficiary hereof.
Governing Law: These Terms and Conditions are to be construed in accordance with and
governed by the internal laws of the State of New York and the United States of America without
giving effect to any choice of law rule that would cause the application of the laws of any other
jurisdiction to the rights and duties of the parties. Unless otherwise provided herein, Bridges,
Intermediary Bank, and Administrator may comply with applicable clearinghouse, Federal
Reserve and correspondent bank rules in processing transactions for your Program Deposits. You
agree that Bridges and Administrator are not required to notify you of a change in those rules,
except to the extent required by applicable law.
Disputes: EXCEPT TO THE EXTENT OTHERWISE PROVIDED BY APPLICABLE LAW, ANY DISPUTES
ARISING OUT OF OR IN CONNECTION WITH THESE TERMS AND CONDITIONS WILL BE GOVERNED
BY THE TERMS OF THE AGREEMENT THAT GOVERN THE DEPOSIT ACCOUNT AT BRIDGES THAT IS
LINKED TO THE PROGRAM, INCLUDING THE DISPUTE RESOLUTION TERMS, ARBITRATION TERMS,
CHOICE OF LAW, VENUE, WAIVER OF JURY TRIAL, AND COSTS RELATED TO DISPUTE
RESOLUTIONS, IF ANY.
BRIDGES | TRUST 12
Interpretative Provisions: The headings herein are included for convenience of reference only
and shall be ignored in the construction or interpretation hereof. All Exhibits annexed hereto
or referred to herein are hereby incorporated in and made a part of these Terms and Conditions
as if set forth in full herein. Any singular term in these Terms and Conditions shall be deemed
to include the plural, and any plural term the singular. Whenever the words “include”,
“includes” or “including” are used in these Terms and Conditions, they shall be deemed to be
followed by the words “without limitation”, whether or not they are in fact followed by those
words or words of like import. References to any document provided by Bridges to you or to any
agreement or contract are to that document, agreement or contract as amended, modified or
supplemented from time to time in accordance with the terms hereof or thereof. In any
construction of the terms of these Terms and Conditions, the same shall not be construed
against either party on the basis of that party being the drafter of such terms.
All Receiving Banks
1ST SECURITY BANK OF WA
LYNWOOD
WA
57633
AMERICAN BANK & TRUST
WESSINGTON SPRINGS
SD
1117
American Heritage National Bank
Long Prairie
MN
8843
AMERICAN NATIONAL BANK OF MINNESOTA
Baxter
MN
26499
ARCADIAN BANK
HARTLAND
MN
10561
AUTO CLUB TRUST, FSB
DEARBORN
MI
35115
BANC OF CALIFORNIA
SANTA ANA
CA
35498
BANK OF HOPE
LOS ANGELES
CA
26610
BANK OF PRAIRIE VILLAGE
PRAIRIE VILLAGE
KS
17671
BANK RHODE ISLAND
PROVIDENCE
RI
34147
BARRINGTON BANK & TRUST CO.
BARRINGTON
IL
34395
BEAL BANK USA
LAS VEGAS
NV
57833
BLUFF VIEW BANK
GALESVILLE
WI
8693
BROOKLINE BANK
BROOKLINE
MA
17798
CATHAY BANK
LOS ANGELES
CA
18503
CEDAR RAPIDS STATE BANK
CEDAR RAPIDS
NE
18820
CENTRAL BANK ILLINOIS
GENESEO
IL
11670
CHOICE FINANCIAL GROUP
Walhalla
ND
9423
CITIZENS ALLIANCE BANK
CLARA CITY
MN
1402
CITIZENS STATE BANK
HUDSON
WI
6194
CITY NATIONAL BANK OF FL
MIAMI
FL
20234
CLIMATE FIRST BANK
ST. PETERSBURG
FL
59257
Coffee County Bank
Manchester
TN
22090
COMENITY CAPITAL BANK
SALT LAKE CITY
UT
57570
COMMERCEWEST BANK N.A.
IRVINE
CA
57176
COMMUNITY NATIONAL BANK
MIDLAND
TX
24897
CORNERSTONE COMMUNITY BANK
REDDING
CA
58411
CrossFirst Bank
Leawood
KS
58648
CUSTOMERS BANK
PHOENIXVILLE
PA
34444
DEDHAM INST. OF SAVINGS
DEDHAM
MA
23620
Dream First Bank, National Association
Syracuse
KS
4779
EASTERN MICHIGAN BANK
CROSWELL
MI
982
ENCORE BANK
LITTLE ROCK
AR
34562
ENTERPRISE BANK AND TRUST COMPANY
LOWELL
MA
27408
FALCON NATIONAL BANK
FOLEY
MN
57603
FIDELITY BANK
EDINA
MN
20268
FINEMARK NATIONAL BANK & TRUST
FORT MYERS
FL
58486
FIRST BANK HAMPTON
HAMPTON
IA
4464
FIRST CREDIT BANK
WEST HOLLYWOOD
CA
24332
FIRST FARMERS BANK & TRUST
Converse
IN
12839
Altra Credit Union
Onalaska
WI
C24077
AMERICAN BANK, N.A.
CORPUS CHRISTI
TX
20241
AMERICAN NATIONAL BANK
OMAHA
NE
19300
AMERICAN PLUS BANK, N.A.
ARCADIA
CA
58469
Arvest Bank
Fayetteville
AR
8728
AXOS BANK
SAN DIEGO
CA
35546
Bank of Baroda
New York
NY
33681
BANK OF MARIN
NOVATO
CA
32779
BANK OF TAMPA
TAMPA
FL
21031
BANK STAR
PACIFIC
MO
21897
BARWICK BANKING COMPANY
BARWICK
GA
22205
BELL BANK
FARGO
ND
19581
BOK FINANCIAL
TULSA
OK
4214
BUSEY BANK
CHAMPAIGN
IL
16450
CBC Federal Credit Union
OXNARD
CA
C7608
CENTENNIAL BANK
CONWAY
AR
11241
CENTREVILLE BANK
WEST WARWICK
RI
17764
CIBM BANK
CHAMPAIGN
IL
11729
CITIZENS BANK, N.A.
PROVIDENCE
RI
57957
CITY BANK TEXAS
LUBBOCK
TX
25103
CLAREMONT SAVINGS BANK
CLAREMONT
NH
18038
CNB BANK
BERKELEY SPRINGS
WV
14507
Cogent Bank
Orlando
FL
34908
COMERICA BANK
DALLAS
TX
983
Commercial Bank
Nelson
NE
12246
CONNECTONE BANK
ENGLEWOOD CLIFFS
NJ
57919
County National Bank
Hillsdale
MI
14073
CRYSTAL LAKE BANK & TRUST
CRYSTAL LAKE
IL
34681
DAKOTA WESTERN BANK
BOWMAN
ND
8637
DIME COMMUNITY BANK
HAUPPAUGE
NY
6976
Dundee Bank
Omaha
NE
10643
ECLIPSE BANK
LOUISVILLE
KY
58049
ENDEAVOR BANK
SAN DIEGO
CA
59099
EPHRATA NATIONAL BANK
EPHRATA
PA
7493
Farmers & Merchants Bank
Milford
NE
16810
FIELDPOINT PRIVATE BANK & TRUST
GREENWICH
CT
58741
First Bank
Hamilton
NJ
58481
FIRST BUSINESS BANK
MADISON
WI
15229
FIRST DAKOTA NATIONAL BANK
YANKTON
SD
4028
FIRST FEDERAL BANK
LAKE CITY
FL
31313
AMERANT BANK
CORAL GABLES
FL
22953
AMERICAN COMMERCE BANK
BREMEN
GA
57686
AMERICAN NATIONAL BANK & TRUST
Wichita Falls
TX
22373
Androscoggin Savings Bank
Lewiston
ME
17751
ASSOCIATED BANK N.A.
GREEN BAY
WI
5296
BAC COMMUNITY BANK
STOCKTON
CA
19434
BANK OF CENTRAL FLORIDA
LAKELAND
FL
58479
BANK OF NEW ENGLAND
SALEM
NH
24540
BANK OZK
LITTLE ROCK
AR
110
BANKIOWA OF CEDAR RAPIDS
CEDAR RAPIDS
IA
17282
BEAL BANK
PLANO
TX
32574
BEVERLY BANK & TRUST CO.
CHICAGO
IL
57701
BRAVERA BANK
DICKINSON
ND
22559
CALIFORNIA BANK OF COMMERCE
WALNUT CREEK
CA
58583
CCB COMMUNITY BANK
ANDALUSIA
AL
16595
CENTRAL BANK
TAMPA
FL
58377
CENTURY BANK & TRUST
COLDWATER
MI
5015
CITIBANK N.A
SIOUX FALLS
SD
7213
Citizens First Bank
Clinton
IA
35477
CITY NATIONAL BANK
LOS ANGELES
CA
17281
Clarity Credit Union
Meridian
ID
C68295
CNB BANK
CLEARFIELD
PA
13876
COMENITY BANK
WILMINGTON
DE
27499
COMMENCEMENT BANK
TACOMA
WA
58446
COMMUNITY BANK & TRUST
WACO
TX
17108
CONTINENTAL BANK
SALT LAKE CITY
UT
57571
CROSS RIVER BANK
FORT LEE
NJ
58410
CUSB BANK
CRESCO
IA
18443
DAYSPRING BANK
GOTHENBURG
NE
13622
DMB COMMUNITY BANK
DeForest
WI
14769
EAGLEBANK
BETHESDA
MD
34742
EMPIRE STATE BANK
STATEN ISLAND
NY
57672
ENTERPRISE BANK AND TRUST (MO)
ST. LOUIS
MO
27237
Fairwinds Credit Union
Orlando
FL
C68417
FARMERS & MERCHANTS STATE BANK
PLANKINTON
SD
501
FINANCIAL PARTNERS CREDIT UNION
DOWNEY
CA
C68457
FIRST BANK & TR - BROOKINGS
BROOKINGS
SD
3973
FIRST CAROLINA BANK
ROCKY MOUNT
NC
35530
FIRST ELECTRONIC BANK
SALT LAKE CITY
UT
35533
FIRST FIDELITY BANK N.A.
OKLAHOMA CITY
OK
23473
Fairwinds Credit Union
Orlando
FL
C68417
Southwest National Bank
Wichita
KS
4801
New banks added within the last 31 and 60 days
Androscoggin Savings Bank
Lewiston
ME
17751
First Foundation Bank
Irvine
CA
58647
Smackover State Bank
Smackover
AR
5623
CBC Federal Credit Union
OXNARD
CA
C7608
First Peoples Bank
Pine Mountain
GA
33010
Texas Bank and Trust Company
LONGVIEW
TX
17842
CROSS RIVER BANK
FORT LEE
NJ
58410
Preferred Bank
Los Angeles
CA
33539
The Central Trust Bank
Jefferson City
MO
12633
New banks added within the last 61 and 90 days
American Heritage National Bank
Long Prairie
MN
8843
Dundee Bank
Omaha
NE
10643
Platte Valley Bank
Scottsbluff
NE
34211
Vystar Credit Union
Jacksonville
FL
C68490
Commercial Bank
Nelson
NE
12246
First Security Bank - Sleepy Eye
SLEEPY EYE
MN
5252
Rio Bank
McAllen
TX
25886
Winchester Savings Bank
Winchester
MA
90308
Dream First Bank, National Association
Syracuse
KS
4779
Northwest Bank PA
Warren
PA
28178
State Bank IN
BROWNSBURG
IN
1833
New banks added within the last 30 days
Clarity Credit Union
Meridian
ID
C68295
West Bank
West Des Moines
IA
15614
Stable Custody Group II LLC, a subsidiary of
Reich & Tang Deposit Solutions, LLC
All Rights Reserved.
Page 1 of 3
EXHIBIT A
The Demand Deposit Marketplace® Program
sponsored by Stable Custody Group II LLC
Participating Institution List
(as of Monday, August 28, 2023)
Confidential. For Client Use Only.
All Receiving Banks
First Financial Northwest Bank
Renton
WA
29058
FIRST HORIZON BANK
MEMPHIS
TN
4977
FIRST NATIONAL COMMUNITY BANK
NEW RICHMOND
WI
5357
First Security Bank - Sleepy Eye
SLEEPY EYE
MN
5252
First Sound Bank
Seattle
WA
57799
FIRST STATE COMMUNITY BANK
FARMINGTON
MO
17323
FIRST WESTERN TRUST BANK
DENVER
CO
57607
FNB BANK, INC.
ROMNEY
WV
6794
FRANKLIN BANK & TRUST COMPANY
FRANKLIN
KY
17937
German American State Bank
German Valley
IL
5749
GRAND BANK
TULSA
OK
22065
GREEN BELT BANK & TRUST
IOWA FALLS
IA
26760
HATCH BANK
SAN MARCOS
CA
25803
Herring Bank
AMARILLO
TX
5568
HOMESTREET BANK
Seattle
WA
32489
HSBC BANK USA, NATIONAL ASSOCIATION
MCLEAN
VA
57890
INDEPENDENT BANK
MCKINNEY
TX
3076
INVESTAR BANK, NATIONAL ASSOCIATION
BATON ROUGE
LA
58316
KEARNY BANK
FAIRFIELD
NJ
28765
KS STATEBANK
MANHATTAN
KS
19899
LAMAR BANK & TRUST CO.
LAMAR
MO
1964
LIBERTY BANK
MIDDLETOWN
CT
17943
LIVE OAK BANKING COMPANY
WILMINGTON
NC
58665
M&T BANK
BUFFALO
NY
588
MAGYAR BANK
NEW BRUNSWICK
NJ
30704
MERIDIAN BANK
MALVERN
PA
57777
Midland States Bank
Effingham
IL
1040
MONTGOMERY BANK
SIKESTON
MO
8255
MORGAN STANLEY PVT BANK
PURCHASE
NY
34221
NICOLET NATIONAL BANK
GREEN BAY
WI
57038
NORTHEAST BANK
PORTLAND
ME
19690
NORTHWEST BANK
BOISE
ID
58752
NORTHWEST COMMUNITY BANK
Winstead,
CT
18229
ONE AMERICAN BANK
CENTERVILLE
SD
6078
Osgood Bank
Osgood
OH
9137
PATHFINDER BANK
OSWEGO
NY
57497
PEAPACK GLADSTONE BANK
BEDMINSTER
NJ
11035
PIERMONT BANK
NEW YORK
NY
59154
Platte Valley Bank
Scottsbluff
NE
34211
PREMIER BANK
YOUNGSTOWN
OH
29845
Providence Bank
Rocky Mount
NC
58239
REGIONAL MISSOURI BANK
MARCELINE
MI
18385
Republic Bank of Arizona
PHOENIX
AZ
58271
Rio Bank
McAllen
TX
25886
Rondout Savings Bank
Kingston
NY
15969
SAUK VALLEY BANK & TRUST COMPANY
STERLING
IL
35131
SECURITY BANK
TULSA
OK
4178
SECURITY STATE BANK
SUTHERLAND
IA
235
SETTLERS BANK
WINDSOR
WI
58651
SOFI BANK, NATIONAL ASSOCIATION
COTTONWOOD
UT
26881
SOUTHERN BANCORP BANK
ARKADELPHIA
AR
1528
SPIRIT BANK
TULSA
OK
4048
First Foundation Bank
Irvine
CA
58647
FIRST INDEPENDENCE BANK
DETROIT
MI
20179
First Peoples Bank
Pine Mountain
GA
33010
First Security Bank-Hendricks
HENDRICKS
MN
15767
FIRST STATE BANK NEBRASKA
LINCOLN
NE
13868
FIRST UNITED BANK & TRUST
OAKLAND
MD
4857
FLORIDA CAPITAL BANK
JACKSONVILLE
FL
26323
FORBRIGHT BANK
CHEVY CHASE
MD
57614
FRONTIER BANK
OMAHA
NE
15545
Gesa Credit Union
Richland
WA
C68278
Great Lakes Credit Union
Bannockburn
Il
C60238
Green Dot Bank
PROVO
UT
22653
HAWAII NATIONAL BANK
HONOLULU
HI
18296
HILLS BANK & TRUST COMPANY
CEDAR RAPIDS
IA
14650
HORICON BANK
HORICON
WI
11236
HUNTINGTON NATIONAL BANK
COLUMBUS
OH
6560
INDUSTRIAL BANK
WASHINGTON
DC
14679
ION BANK
NAUGATUCK
CT
18198
KeyBank National Association
Cleveland
OH
17534
LAKE FOREST BANK & TRUST CO, N.A.
LAKE FOREST
IL
27589
LEA COUNTY STATE BANK
HOBBS
NM
12259
LIBERTY NATIONAL BANK
LAWTON
OK
11522
LOCAL BANK
HULBERT
OK
2327
M.Y. SAFRA BANK, FSB
NEW YORK
NY
35154
MANUFACTURERS BANK
LOS ANGELES
CA
18618
MERRICK BANK
S JORDAN
UT
34519
MIDWEST REGIONAL BANK
FESTUS
MO
8889
MOODY NATIONAL BANK
GALVESTON
TX
3210
NBKC BANK
LEAWOOD
KS
35014
NORTH STATE BANK
RALEIGH
NC
35519
NORTHERN BANK & TRUST CO
WOBURN
MA
18266
NORTHWEST BANK & TRUST CO.
DAVENPORT
IA
15830
OAKWOOD BANK
DALLAS
TX
10334
OREGON COMMUNITY CREDIT UNION
EUGENE
OR
C65856
PACIFIC NATIONAL BANK
MIAMI
FL
26299
PATHWARD, N.A
SIOUX FALLS
SD
30776
PENNIAN BANK
MIFFLINTOWN
PA
7613
Pine River State Bank
PINE RIVER
MN
10194
PONY EXPRESS BANK
BRAYMER
MO
4526
PREMIER BANK - DUBUQUE IA
Dubuque
IA
34849
Raccoon Valley Bank
Perry
IA
245
RENASANT BANK
TUPELO
MS
12437
REPUBLIC BANK OF CHICAGO
OAK BROOK
IL
19333
RIVER CITY BANK
SACRAMENTO
CA
18983
SALLIE MAE BANK
SALT LAKE CITY
UT
58177
SCHAUMBURG BANK & TRUST CO
BLOOMINGDALE
IL
57103
SECURITY BANK MIDWEST
TYNDALL
SD
485
SECURITY STATE BANK OF OKLAHOMA
WEWOKA
OK
8980
SIMMONS BANK
PINE BLUFF
AR
3890
Solarity Credit Union
Yakima
WA
C68061
Southern Bank
SARDIS
GA
16288
SSB Bank
Pittsburgh
PA
30431
FIRST GUARANTY BANK
Hammond
LA
14028
FIRST NATIONAL BANK OF HUTCHINSON
Hutchinson
KS
4697
FIRST PREMIER BANK
SIOUX FALLS
SD
6085
FIRST SERVICE BANK
GREENBRIER
AR
18519
FIRST STATE BANK, AR
RUSSELLVILLE
AR
13632
FIRST WESTERN BANK & TRUST
MINOT
ND
19123
FLUSHING BANK
UNIONDALE
NY
58564
FORESIGHT BANK
PLAINVIEW
MN
5229
GEORGIA BANKING COMPANY
ATLANTA
GA
57071
GORHAM SAVINGS BANK
GORHAM
ME
17748
GREAT MIDWEST BANK, STATE SAVINGS BANK
BROOKFIELD
WI
29657
GREENSTATE CREDIT UNION
North Liberty
IA
C60269
HERITAGE BANK, MN
SPICER
MN
19254
HINSDALE BANK & TRUST COMPANY, N.A.
HINSDALE
IL
33849
HORIZON COMMUNITY BANK
LAKE HAVASU CITY
AZ
57411
INBANK
RATON
NM
11492
INTERNATIONAL BANK OF CHICAGO
CHICAGO
IL
33708
ISRAEL DISCOUNT BANK OF NY
NEW YORK
NY
19977
KIRKWOOD BANK & TRUST
BISMARCK
ND
21928
LAKE RIDGE BANK
CROSS PLAINS
WI
15091
Legacy Bank & Trust
Mountain Grove
MO
22319
LIBERTYVILLE BANK & TRUST CO, N.A.
LIBERTYVILLE
IL
34073
LUTHER BURBANK SAVINGS
SANTA ROSA
CA
32178
MACHIAS SAVINGS BANK
MACHIAS
ME
19531
MapleMark Bank
Dallas
TX
3182
METROPOLITAN COMMERCIAL BANK
NEW YORK
NY
34699
MINNESOTA NATIONAL BANK
SAUK CENTRE
MN
5249
MORGAN STANLEY BANK NA
SALT LAKE CITY
UT
32992
NEXBANK SSB
DALLAS
TX
29209
NORTHBROOK BANK & TRUST CO., N.A.
Northbrook
IL
57082
NORTHERN INTERSTATE BANK
Norway
MI
13784
Northwest Bank PA
Warren
PA
28178
OLD PLANK TRAIL CMNY BANK
MOKENA
IL
58314
ORRSTOWN BANK
SHIPPENSBURG
PA
713
PACIFIC WEST BANK
WEST LINN
OR
57872
PCSB BANK
Brewster
NY
15995
PEOPLESBANK
HOLYOKE
MA
90213
PINNACLE BANK
LINCOLN
NE
10634
Preferred Bank
Los Angeles
CA
33539
PREMIER BANK - ROCK VALLEY, IA
ROCK VALLEY
IA
34384
REDWOOD CAPITAL BANK
EUREKA
CA
57610
REPUBLIC BANK
PHILADELPHIA
PA
27332
REV Credit Union
Summerville
SC
C9986
ROCKY MOUNTAIN BANK & TRUST
FLORENCE
CO
3019
SANIBEL CAPTIVA COMMUNITY BANK
SANIBEL
FL
57425
SEACOAST NATIONAL BANK
STUART
FL
131
SECURITY BANK USA
BEMIDJI
MN
1604
SECURITY STATE BANK WA
CENTRALIA
WA
13232
Smackover State Bank
Smackover
AR
5623
SOUTH CENTRAL BANK
GLASGOW
KY
5854
Southwest National Bank
Wichita
KS
4801
ST. CHARLES BANK & TRUST CO, N.A.
ST. CHARLES
IL
27052
Stable Custody Group II LLC, a subsidiary of
Reich & Tang Deposit Solutions, LLC
All Rights Reserved.
Page 2 of 3
sponsored by Stable Custody Group II LLC
Participating Institution List
(as of Monday, August 28, 2023)
The Demand Deposit Marketplace® Program
Confidential. For Client Use Only.
All Receiving Banks
STAR BANK
MAPLE LAKE
MN
5095
STATE BANK OF INDIA (CA)
LOS ANGELES
CA
23998
STEARNS BANK N.A.
SAINT CLOUD
MN
10988
Superior Choice Credit Union
Superior
WI
C67173
TEXAS CAPITAL BANK
Dallas
TX
34383
THE BANK OF MISSOURI
PERRYVILLE
MO
1617
THE NATIONAL BANK OF MALVERN
MALVERN
PA
7590
THE WASHINGTON TRUST CO.
WESTERLY
RI
23623
TOWN BANK, N.A.
HARTLAND
WI
34717
True Sky Federal Credit Union
Oklahoma City
OK
C24934
UNION BANK
LAKE ODESSA
MI
14722
UNITED COMMUNITY BANK OF NORTH DAKOTA
LEEDS
ND
10249
UNIVERSITY FIRST FEDERAL CREDIT UNION
Salt Lake City
Ut
C24710
Vast Bank
Tulsa
OK
23737
VIKING BANK
ALEXANDRIA
MN
32082
Vystar Credit Union
Jacksonville
FL
C68490
WEBBANK
SALT LAKE CITY
UT
34404
WEX BANK
Midvale
UT
34697
WINTRUST BANK, N.A.
WILMETTE
IL
33935
State Bank IN
BROWNSBURG
IN
1833
STATE BANK OF THE LAKES, N.A.
ANTIOCH
IL
5744
SUMMIT BANK
EUGENE
OR
57706
SUPERIOR NATIONAL BANK
HANCOCK
MI
5058
TexasBank
BROWNWOOD
TX
19559
The Central Trust Bank
Jefferson City
MO
12633
THE PADUCAH BANK AND TRUST COMPANY
PADUCAH
KY
16664
THIRD COAST BANK
HUMBLE
TX
58716
Tradition Capital Bank
Wayzata
MN
58057
UMPQUA BANK
PORTLAND
OR
17266
UNION BANK & TRUST CO.
LINCOLN
NE
13421
UNITED STATE BANK
LEWISTOWN
MO
12214
VALLEY STATE BANK
SYRACUSE
KS
14345
VCC BANK
RICHMOND
VA
58658
VILLAGE BANK & TRUST, N.A.
ARLINGTON HEIGHTS
IL
34011
WASHINGTON FINANCIAL BANK
WASHINGTON
PA
29520
West Bank
West Des Moines
IA
15614
WHEATON BANK & TRUST CO., N.A.
WHEATON
IL
33803
State Bank of Cold Spring
Cold Spring
MN
12444
State Bank, Freeport Illinois
Freeport
Il
35169
SUNRISE BANK
ORLANDO
FL
58029
Texas Bank and Trust Company
LONGVIEW
TX
17842
THE BANCORP BANK
WILMINGTON
DE
35444
THE NATIONAL BANK OF INDIANAPOLIS
INDIANAPOLIS
IN
33860
THE PEOPLES BANK
MAGNOLIA
AR
12531
TITAN BANK, N.A.
MINERAL WELLS
TX
3225
TRISTATE CAPITAL BANK
PITTSBURGH
PA
58457
UNIBANK
LYNNWOOD
WA
58407
UNITED COMMUNITY BANK
GREENVILLE
SC
16889
UNITED TRUST BANK
PALO HEIGHTS
IL
35393
Valley Strong Credit Union
Bakersfield
CA
C68712
VERITEX COMMUNITY BANK
DALLAS
TX
57665
VISTA BANK
DALLAS
TX
1210
Washington State Bank
Washington
IA
214
WESTERN ALLIANCE BANK
PHOENIX
AZ
57512
Winchester Savings Bank
Winchester
MA
90308
Intermediary Bank
The Demand Deposit Marketplace® (DDM®) program is administered by Stable Custody Group II LLC, a Delaware limited liability company ("Stable"). Stable provides administrative and/or recordkeeping services to banks, credit unions, trust
companies and other financial institutions that wish to participate in the DDM program ("DDM Participating Institutions"). Stable's services are provided subject to the terms and conditions of its written agreements entered into between Stable
and the DDM Participating Institution, and no representations or warranties, express or implied, are provided by Stable or any of its affiliates, except as expressly set forth in those written agreements.
This Participating Institution List sets forth a list of the banks and savings associations with which Stable has a business relationship for the placement of deposits under the DDM program and into which a DDM Participating Institution may
place deposits (subject to the terms of the DDM program and any opt-outs by the DDM Participating Institution and/or their customers). Stable is not a depository, bank or credit union and the DDM program is NOT, itself, an FDIC-insured or
NCUSIF-insured product. Rather, under the DDM program, a DDM Participating Institution can sweep or place its (and/or its customers') funds into deposit accounts at other DDM Participating Institutions that are insured by the Federal Deposit
Insurance Corporation ("FDIC") and/or National Credit Union Share Insurance Fund ("NCUSIF"), for up to the current standard maximum deposit insurance amount ("SMDIA") of $250,000 per eligible depositor, per DDM Participating Institution,
for each ownership capacity or category, including any other balances the depositor may hold at that DDM Participating Institution directly or indirectly through other intermediaries, including broker-dealers. If a depositor holds any funds at a
DDM Participating Institution outside the DDM program, when combined with their deposits held at that DDM Participating Institution through the DDM program, the total amount of deposits of that depositor at that DDM Participating
Institution could exceed the SMDIA for an ownership capacity or category, and those excess funds will not be FDIC insured. Under the DDM program, a DDM Participating Institution (or its customer) can opt-out of sweeping or placing funds
into a particular institution. FDIC and NCUSIF insurance coverage is only available to protect a depositor against the failure of a participating FDIC or NCUSIF insured institution, respectively, that holds the depositor’s funds (and not to protect
against the failure of any other party, including Stable). The services Stable provides with respect to the DDM program are primarily designed to provide administrative convenience for DDM Participating Institutions to offer expanded FDIC or
NCUSIF insurance on customer funds, and are not designed to provide customers with investment enhancements, higher rates of returns or profits on their funds.
A DDM Participating Institutions' customer should contact their DDM Participating Institution to receive the list of banks and institutions into which the customers' funds may be placed pursuant to the particular program offered to them by their
DDM Participating Institution. Such customers should regularly review their DDM Participating Institution's list of banks and institutions and immediately notify their participating DDM Participating Institution if they do not want to allocate funds
to any particular bank or institution. Access to FDIC or NCUSIF insurance on a customer's deposits through the DDM program is generally based on the number of DDM Participating Institutions participating in the particular DDM program
offered by their DDM Participating Institution. If the customer excludes banks or institutions from receiving their funds, the level of FDIC or NCUSIF insurance coverage available under the program offered by their DDM Participating Institution
may decrease to a new maximum lower amount, in which case, the customer should contact their DDM Participating Institution to confirm that new maximum lower amount. Before a customer deposits any money into a sweep or other program
offered to them by their DDM Participating Institution, the customer should carefully read their DDM Participating Institution’s Demand Deposit Marketplace® Terms and Conditions for important customer disclosures, terms, risks, limitations
and information relating thereto. If a DDM Participating Institution (or its customer) is subject to any restrictions or requirements on the placement or deposit of its funds, that depositor is solely responsible for determining whether its use of
the DDM program satisfies those restrictions and requirements.
Demand Deposit Marketplace®, DDM®, Reich & Tang® and R&T® are registered marks of Reich & Tang Deposit Networks, LLC. Copyright © 2022 Reich & Tang Deposit Networks, LLC. All rights reserved.
Stable Custody Group II LLC, a subsidiary of
Reich & Tang Deposit Solutions, LLC
All Rights Reserved.
Page 3 of 3
sponsored by Stable Custody Group II LLC
Participating Institution List
(as of Monday, August 28, 2023)
The Demand Deposit Marketplace® Program
Confidential. For Client Use Only.
The Demand Deposit Marketplace
®
Program
List of Intermediary Banks
Under the Demand Deposit Marketplace Program, customer funds are placed into deposit accounts
at FDIC-insured participating banks or other institutions. Bridges facilitates the placement of deposits
at participating institutions under the Program through the following Intermediary Banks:
v04202023
EXHIBIT B
As of August 28, 2023 and subject to change without notice.
Please visit www.bridgestrust.com and click Disclosures to obtain the most recent Demand
Deposit Marketplace Program List of Intermediary Banks.
Please note that securities offered through Bridges Trust Company and its affiliates are:
NOT FDIC INSURED | NOT BANK GUARANTEED | MAY LOSE VALUE | NOT A BANK DEPOSIT |
NOT INSURED BY ANY GOVERNMENT AGENCY
www.bridgestrust.com | p: (402) 393-8300 | PO Box 542021 | Omaha, NE | 68154