Eligible Bank 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
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 | |
American Bank of the Carolinas | x | Benchmark |
Ameris Bank | x | |
Atlantic Union Bank | x | |
Bank of America | x | Benchmark |
Bank of Oak Ridge | x | Prime Partner |
Bank OZK | x | |
Benchmark Community Bank | x | |
Blue Ridge Bank | x | Benchmark |
BlueHarbor Bank | x | Benchmark |
Carter Bank & Trust | x | |
Commercial Bank | x | |
Dogwood State Bank | x | |
Encore Bank | x | Benchmark |
Farmers & Merchants Bank | x | |
Fidelity Bank | ||
Fifth Third Bank | x | |
First Bank & Trust Co. of Virginia | x | |
First Bank | x | |
First Capital 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 | |
Huntington National Bank | X | Benchmark |
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 Republic Bank | x | Benchmark |
North State Bank | x | |
Oakworth Capital Bank | ||
Paragon Bank | x | |
Park National Bank | ||
Peoples Bank | x | |
Piedmont Federal Bank | x | |
Pinnacle Bank | x | Benchmark |
PNC Bank | x | Benchmark |
Providence Bank | x | |
Regions Bank | x | Benchmark |
Riverside Savings Bank | x | |
Roxboro Savings Bank | x | Prime Partner |
ServisFirst Bank | x | |
Skyline National Bank | x | |
SouthState Bank | x | |
Southern Bank | ||
Southern First Bank | x | |
Taylorsville Savings Bank | x | |
TD Bank | x | |
Touchstone Bank | x | |
TowneBank | ||
Triad Business Bank | x | Benchmark |
Truist Bank | ||
TruPoint Bank | x | |
United Bank | x | |
United Community Bank | x | |
US Bank | x | |
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.