MEMPHIS, TN / ACCESSWIRE / July 8, 2024 / As recently announced on the Evolve Bank & Trust ("Evolve" or "we") website, Evolve was recently subject to a cybersecurity incident. Today, Evolve is beginning the process of notifying individuals whose personal information was affected. We deeply regret any inconvenience or concern this incident may cause. The security of our customers', partners' and employees' information is a priority, and we are committed to supporting them through this process.
In late May 2024, Evolve identified that some of its systems were not working properly. While it initially appeared to be a hardware failure, we subsequently learned it was unauthorized activity. We promptly initiated our incident response processes and stopped the attack. The Bank has seen no new unauthorized activity since May 31, 2024. We engaged outside specialists to investigate what happened and what data was affected, as well as a firm to help us restore our services. Law enforcement was notified of the incident.