Settlement Agent Accounts

In addition to the banks on the Eligible Bank List, settlement agents may maintain accounts at banks that do not have a branch in North Carolina. Settlement Agent Accounts are defined as accounts maintained by settlement agents that are not associated with an attorney licensed in North Carolina.

This allowance is only for settlement agents.

Prime Partner Banks

Pay the higher of 75% of the Federal Funds Rate or 0.75%.

About the Eligible Banks List

Prime Partner Banks

Prime Partner Banks are those that go above and beyond the eligibility requirements of the IOLTA rule to support the NC IOLTA program in its mission to ensure that low-income North Carolinians have access to critically needed legal aid. The Prime Partner rate is a net yield of 75% of the Federal Funds target rate or 0.75%, whichever is higher.
Benchmark Banks
Service Charges
Compliance

Neither the North Carolina State Bar nor NC IOLTA has made any determination regarding the practices of the financial institutions on this list, other than the criteria established in .1316 and .1317. It remains the responsibility of every North Carolina attorney that holds funds on behalf of their clients to ensure their compliance with the provisions set forth in Rule of Professional Conduct 1.15. By creating and posting this list, neither the North Carolina State Bar nor NC IOLTA expresses any opinion on the selection of a financial institution from this list for the deposit of funds held in trust.

Prime Partner Banks

Forbright Bank

Other Eligible Banks

Bank of Georgetown

BankUnited

Capital Bank (MD)

Citibank

First American Trust

Integrity Bank for Business

MVB Bank

Sandy Spring Bank