Disclosures

The Electronic Services Agreement is an Online Banking Agreement and Disclosure “Agreement” describing your rights and obligations as a user of the Online Banking, the Stifel Bank Mobile Application, or Cash Management “Services.” It also describes the rights and obligations of Stifel Bank. Please read the Agreement carefully. By requesting and using one of the Services named, you agree to comply with the terms and conditions of this Agreement.

This agreement is revised periodically, and it may include changes from earlier versions. A user must accept the agreement when enrolling in these services, and when the agreement is updated, users are asked again to review and accept the agreement. By using the Services, you agree to the most recent version of this Agreement, which is always available to you here and within the Stifel Bank Mobile App.

Deposit insurance coverage is provided by the Federal Deposit Insurance Company (FDIC). The insured amount per depositor is $250,000 per depository institution. For example, if two people are titled on an account at Stifel Bank the account has $500,000 in FDIC coverage. If the cash in that account is swept to three additional banks, the account is covered for up to $2 million. For more information on FDIC insurance, please visit www.fdic.gov.

Understanding the potential risks of a Stifel Pledged Asset (SPA) Line of Credit
Speak with your Financial Advisor about your risk tolerance level, market fluctuations, and specifically the potential risks associated with a Stifel SPA Line of Credit.

Securities-based lines of credit involve risk and are not appropriate for all borrowers. The SPA Line of Credit is a full recourse, demand loan using the assets in a brokerage account as collateral and can be called at any time. An increase in interest rates will affect the overall cost of borrowing. The return on your securities must be higher than your financing cost in order for you to generate a positive return in your securities account. The market value of your securities may decline, which may result in the value of that collateral no longer covering the outstanding loan amount. In either event, the borrower may be required to post additional collateral and/or repay part or all of any outstanding loan, and Stifel Bank & Trust may call the loan and sell or force the sale of the assets in the collateral account, or any other collateral, without contacting the borrower. The borrower can lose more assets than the borrower is required to deposit in the collateral account. The borrower is responsible for satisfying any amount not covered by the collateral.

Stifel Bank & Trust can increase its collateral maintenance requirements at any time. Stifel Bank & Trust may, in its sole and absolute discretion, demand full or partial payment of the SPA Line of Credit at any time, without notice to cover the loan balance and any interest. The borrower is not entitled to an extension of time to meet a collateral maintenance call.

If pledged securities need to be sold, they may be sold without notice, the borrower may not be offered a chance to deposit cash or additional collateral, and the borrower may not be able to pick which securities will be sold, which can interrupt the borrower’s long-term investment strategy. If pledged securities are sold, this could trigger an unfavorable taxable event for the borrower. Neither Stifel Bank & Trust nor our affiliates provide tax or legal advice. Borrower should consult with a tax professional.

The borrower is entitled to draw against their SPA Line of Credit only if loan terms and collateral requirements are met and the draw request is approved by Stifel Bank & Trust.

There may be alternative ways of borrowing funds that are less expensive and involve less risk. Your Financial Advisor may receive compensation for balances on SPA loans. Your Financial Advisor benefits when the borrower uses the available balance on his or her loan to meet liquidity needs in lieu of selling securities or other investments.

Stifel’s banking and lending services are provided by Stifel Bank, Member FDIC, and Stifel Bank & Trust, Member FDIC, Equal Housing Lender, NMLS# 375103 (collectively, “Stifel Banks”). Trust and fiduciary services are provided by Stifel Trust Company, N.A., Member FDIC, and Stifel Trust Company Delaware, N.A., Member FDIC (collectively, “Stifel Trust Companies”). Stifel Banks and Stifel Trust Companies are affiliated with Stifel, Nicolaus & Company, Incorporated, Member SIPC & NYSE, each a wholly owned subsidiary of Stifel Financial Corp. Unless otherwise specified, references to “Stifel” may mean Stifel Financial Corp. and/or any of its subsidiaries. Unless otherwise specified, products purchased from or held by Stifel, Stifel Banks, and/or Stifel Trust Companies are not deposits or other obligations of Stifel, Stifel Banks, or Stifel Trust Companies, are not guaranteed by Stifel, Stifel Banks, and/or Stifel Trust Companies, and are subject to investment risks, including possible loss of the principal invested. None of Stifel, Stifel Banks, or Stifel Trust Companies provide legal or tax advice.

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Any opinions, commentary, views or statements (“posts”) posted on social media sites or pages maintained by us or the employees or agents of Stifel Bank & Trust are solely those of such employee or agent and do not necessarily reflect the views of Stifel Bank & Trust. No post should be considered as an offer to extend credit or any other service.

Stifel Bank & Trust does not provide customer service, conduct financial transactions, or accept customer complaints through its social media profiles and/or pages. Never disclose account or other personal financial information on any social media profiles or pages maintained by us or employees or agents of Stifel Bank & Trust.

The fact that a third party creates a link to our social media sites or pages does not constitute an endorsement by Stifel Bank & Trust of those third party sites or the products and services sold there. Likewise, the inclusion of a link to a third party site by Stifel Bank & Trust should not be seen as an endorsement of that site or of the party owning that side. Stifel Bank & Trust is not responsible for the content of any third party website, including those of its employees and agents.Stifel Bank & Trust is not responsible for the terms of use or policies of any of the social media sites on which it maintains a profile or page or any third-party sites to which they are linked, and you use these sites at your own risk. Stifel Bank & Trust is not responsible for and does not endorse any content, advertising, products, advice, opinions, recommendations, terms of use or privacy policies, or other materials on or available from third parties.

Stifel is not responsible for any defamatory statements and/or statements made by its employees on their social media pages that infringe on copyright or other legal rights. Any such statement is outside the scope of that person’s scope of employment and such actions can result in disciplinary action, including termination.

Customer Identification Requirements

In accordance with Section 326 of the USA Patriot Act, applicants for new accounts are requested to provide current picture identification that verifies identity including name, address and other identifying information.

In some cases, identification will be requested for current account holders if original documentation was not obtained with the opening of the account. In all cases, protection of our customers’ identity and confidentiality is our pledge to you.

We proudly support all efforts to protect and maintain the security of our customers and our country.