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 | |
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 | Benchmark |
Bank of Oak Ridge | x | Prime Partner |
Bank OZK | x | |
Benchmark Community Bank | x | |
Blue Ridge Bank | x | Prime Partner |
BlueHarbor Bank | x | |
Carolina Alliance Bank (AKA Park National Bank) | ||
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 | Benchmark |
Roanoke Rapids Savings Bank | x | |
Roxboro Savings Bank | x | Prime Partner |
ServisFirst Bank | x | |
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 | |
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.