# Evolve Bank & Trust

Evolve Bank & Trust is an other based in Memphis, United States.

## Overview

- **Organization type:** other
- **Headquarters:** Memphis, United States
- **Region:** North America
- **Address:** Memphis, Tennessee, United States
- **Founded:** 1925
- **Assets under management:** Undisclosed
- **Website:** evolvebankandtrust.com

## Regulatory record

- **Reports private funds:** No

## About

Evolve Bank & Trust offers personal and business banking, lending, and banking-as-a-service. The company provides personal banking solutions and business banking services. Founded in 1925 in Memphis, Tennessee, it was previously known as First State Bank.

## Sectors

- FinTech
- Banking
- Financial Services

## Offices

- Menlo Park, California, United States

## People

- Scott Stafford — President and CEO
- Scott Gordon — Chief Financial Officer

## Questions

### What is Evolve Bank & Trust's role in the FinTech ecosystem?

Evolve operates as a bank-as-a-service (BaaS) provider — a regulated, FDIC-insured institution that issues debit cards, holds deposits, and provides banking infrastructure for FinTech companies. Key partners include Stripe, Aspiration, Betterment, and others. The bank essentially provides the regulated back-end that allows these digital firms to offer banking products without becoming banks themselves.

### How does Evolve make money?

Evolve generates revenue from net interest income on its loan portfolio, as well as fee income from its BaaS partnerships. These partnerships include deposit servicing, debit card interchange fees, and lending-as-a-service arrangements. The bank also originates traditional commercial real estate and consumer loans on its own balance sheet.

### Which FinTech companies does Evolve partner with?

Publicly disclosed partners include Stripe (through Stripe Issuing), Aspiration, Betterment, and a range of smaller FinTech firms. Evolve also provides banking services to several neobanks and wealth-management platforms. The full list is not public.

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Last updated: 2026-06-03T20:00:00.000Z

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