Evergreen Bank Group is headquartered in OAK BROOK and is the 45th largest bank in the state of Illinois. It is also the 786th largest bank in the nation. It was established in 1999 and as of March of 2025, it had grown to 188 employees at 3 locations. Evergreen Bank Group has a B+ health rating.
High Rate Fast ACH Transfers
Evergreen ACH limits are low, however... "Transfers initiated EXTERNALLY are subjected to the EXTERNAL bank's limits." I use my brokerage Money Market for ALL transfers, since it has no limits, and like Evergreen my transaction are posted on the same day if placed early in the AM.
NO monthly fees; however there is a 50.00 fee if account is closed within 90 days of opening.
Evergreen Bank sports an "A" safety rating on DA, and "5 Star" rating on Bauer Financial.
HYSA Application Denied
I had tried to apply for the Evergreen Bank Group High Yield Saving Account on Friday, August 9, 2024 and received an email the account could not be open. I than applied to another bank that have HYSA and was approved. Both banks had the same identical questions when applying for the HYSA. I have sent an email with a cut and paste of the approval of the other bank and question the reason why I was denied. I did not receive an email respond.
I than called Evergreen Bank Group to inquire the reason of why the application was denied and was told my account could have been frozen. All three credit bureau accounts are not frozen. I have mentioned if my account was frozen than the other bank would not have approved my application. I was told the other bank criteria could be different from Evergreen Bank Group in what they look for.
I than pulled my Chexsystem report and both banks was listed on the report that ran a check on me. My Chexsystem score is 0614 out of 899 and stated that I was low risk, credit score from the 3 credit bureau is over 800 each. My report did not mention any fraud, no freeze account, no bounce checks, no overdraft, no late bill payment, etc . The only item on the report was social security card in 1986 in which I did request as I had misplaced my original social security in 1986.
I was told by Evergreen Bank Group to apply again in which I did this week and was denied again. I had double checked my name, birthdate, address, social security are identical to what is stated on my Chexsystem account as Evergreen Bank Group uses Chexsystem to run the report.
I was disappointed as the bank in located in the area that I live and I would have felt comfortable in transferring my large sum of money of over $30k from my Citibank account and continue to deposit monthly to increase my emergency funds.
Overall the customer service was nice and tried to help but really don't know the reason why the application was denied and I was approved at the other bank when both bank used Chexsystem to run the report.
Can't Deposit Serious Cash Into This Bank.
I wanted to open a new savings account with Evergreen Bank, but it seems the bank will NOT let me deposit anything other than a few thousand dollars. I just got off the phone with Jonathan a little while ago who had been very pleasant & courteous with me while also being very transparent with the info he provided. I let Jonathan know that it was my intent to maintain a savings account with a large sum of cash from the start. I would open the account initially with the minimal required $100 to first make sure all went smooth and I was comfortable with this bank. I then intended to set up the test-deposits to establish an external link both ways between Evergreen Bank and the other bank I have savings at that I will call "Bank C". I told Jonathan that once I had the external links set up between Evergreen Bank and Bank C, I would then initiate an ACH transfer from Evergreen to PULL at least $100K into my new Evergreen account from the external Bank C. If that went well, in the coming week or two I would then proceed with 2 more ACH transfers totaling another $150K combined, being PULLED out of external linked Bank C. I intended to keep the final balance at or near the $250K FDIC limit. Jonathan suggested that I could do an ACH PUSH (ie; not a pull) at Bank C to deposit the cash into Evergreen Bank. I replied that I will NEVER attempt to PUSH cash out of ANY of the accounts that I hold because this often results in an account being frozen under the guise of “fraud” concerns. Then I would have to spend hours and days on the phone jumping through hoops to get my account opened back up. Chase, Purepoint Bank, and Live Oak Bank did this to me when I didn't know better and had initiated a PUSH, even though I was with these banks for years. However, PULLS from out of these same banks was never a problem, and the PULLS always go smooth.
Jonathan told me Evergreen Bank will not allow me to initiate an ACH external PULL to have Evergreen Bank transfer the $100K out of the external Bank C. He told me the monthly limit to initiate a PULL is $10K. I explained to him that it would take me 2 years to deposit my $250K into an Evergreen savings account at that rate. I thanked him for his time and told him I will not be opening an account with this bank under these conditions. You would think when banks like Evergreen have the safeguards to check the credentials of my SS#, name, my same home address of 33 years, and other info that I must provide in the opening application process, that it would be enough info for them to assess that I'm legit. Especially since it is customary to place long holds onto newly deposited funds before they are available for withdrawal. But, what do I know?..... I’m just a simple retired guy looking for higher paying savings banks instead of the current 4.5%APY rate that I’m receiving. I guess old guys like me that clearly hold established accounts with large sums of cash at Bank C and other banks must largely be fraudsters. By the way, if anyone cares to know, Chase, Live Oak, NASB, Customers Bank, Barclay, CIT, and American Express are just some of the banks that I have had experience with initiating PULLS from. The PULLS I initiated worked smoothly, and there was never an issue at either bank on both ends. The majority of most banks have no issue about allowing you to transfer cash into their own bank via a pull. Most banks are in the business of finding new clients and only too happy to accept your cash.
Closed The Account Out Of The Blue!
Closed the account out of the blue with money going in and out without telling me! Horrible bank!
Data as of Q1 2025
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 35230 |
| Year Established | 1999 |
| Employees | 188 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.82% |
| Return on Equity - YTD | 7.43% |
| Annual Interest Income | $26.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $1.4B$1.49B |
| Loans | Q1 2025vs Q1 2024 | $1.17B$1.19B |
| Deposits | Q1 2025vs Q1 2024 | $1.21B$1.29B |
| Equity Capital | Q1 2025vs Q1 2024 | $155.8MM$153.1MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $20.1MM$21.3MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $3.9MM$3.8MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$0 |