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

Benchmark Bank are those that meet eligibility requirements by paying the higher of 65% of the Federal Funds Rate or 0.65% to support the NC IOLTA program in its mission.

Service Charges

Many banks waive service charges on IOLTA accounts that could be assessed against the IOLTA interest.

	Waives Service Charges	Prime Partner and                      Benchmark Banks
Allegacy Federal Credit Union	x
Alliance Bank & Trust	x
American Bank of the Carolinas	x	Benchmark
American National Bank	x
Ameris Bank	x
Atlantic Union Bank	x
Bank Of America	x
Bank of Oak Ridge	x	Prime Partner
Bank OZK	x
Benchmark Community Bank	x
BlueHarbor Bank	x
Carolina Alliance Bank (AKA Park National Bank)
Carolina State Bank (Blue Ridge Bank)	x	Prime Partner
Carolina Trust Bank (AKA United Bank)	x
Carter Bank & Trust	x
Citibank	x
Coastal Bank & Trust	x
Coastal Federal Credit Union	x
CresCom Bank (AKA United Bank)	x
Dogwood State Bank	x
Farmers & Merchants Bank	x
Fidelity Bank
Fifth Third Bank	x
First Bank	x
First Carolina Bank	x
First Citizens Bank	x
First Community Bank	x
First Federal Bank	x
First Federal Savings Bank of Lincolnton	x
First Horizon Bank
First National Bank of PA	x
First Reliance Bank	x
HomeTrust Bank	x
IBERIABANK	x
JP Morgan Chase	x	Benchmark
KS Bank	x
LifeStore Bank	x
Lumbee Guaranty Bank	x
Mechanics and Farmers Bank
Morganton Savings Bank	x
Nantahala Bank	x
New Dominion Bank (AKA Park National Bank)
North State Bank	x
Park National Bank (DBA Carolina Alliance Bank)
Park National Bank (DBA New Dominion Bank)
Peoples Bank	x
Piedmont Federal Savings Bank	x
Pinnacle Bank	x	Benchmark
PNC Bank	x	Benchmark
Premier Federal Credit Union	x
Providence Bank	x	Prime Partner
Regions Bank	x
Roanoke Rapids Savings Bank	x
Roxboro Savings Bank	x	Prime Partner
Skyline National Bank	x
South State	x
Southern Bank
Southern First Bank	x
Surrey Bank
Taylorsville Savings Bank	x
TD Bank	x
Touchstone Bank	x
TowneBank
Triad Business Bank	x	Benchmark
Truist Bank
TruPoint Bank	x
Union Bank & Trust Co.	x
United Bank (AKA CarolinaTrust and CresCom Bank)	x
United Community Bank	x
US Bank	x	Prime Partner
Uwharrie Bank	x
Wells Fargo	x	Prime Partner

Settlement Agent Accounts

For the list of out-of-state banks approved for settlement agent accounts only, click here.

Notice Regarding the Eligible Bank List

NC IOLTA is required to maintain a list of Eligible Banks approved to hold IOLTA accounts for all members of the State Bar and for settlement agents. The institutions on this list have agreed to comply with the rules governing NC IOLTA at 27 NCAC 1D, Sections .1316 and .1317 and have been approved by NC IOLTA. 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.