Current Arizona Banks with IOLTA Accounts
Interest on Lawyers Trust Accounts (IOLTA) - Information and Resources
In recent years, the Foundation and State Bar have worked with Arizona financial institutions to enhance the impact of Arizona's IOLTA program. During this time, we have successfully eliminated a majority of IOLTA account fees, reduced the impact of negative balances on IOLTA accounts, and brought nearly all financial institutions holding IOLTA accounts into 100% reporting compliance. It is due in large part to these advances that we can report the following information and offer you a greater understanding of how Arizona's IOLTA Rule helps equal access to justice for all Arizonans.
The Foundation has recently communicated with your financial institution to explain Arizona's implementation of IOLTA comparability rates. Simply put, this means that the IOLTA fiduciary account and any other interest checking account deposits are offered the same rate of return: equal treatment for like accounts. With any fiduciary account, it is critical that interest dollars garnered from pooled accounts are never regarded as a private revenue stream for financial institutions or diverted from the public good. Only when financial institutions do not take a percentage of the overnight interest float and are compensated only for normal charges, does the integrity of the IOLTA program remain intact and the resources for the purpose of the rule are maximized. When financial institutions are willing to offer a rate of return comparable to that of a savings account or higher, the community impact of the rule is even greater.
Financial Institutions Participating Interest On Lawyers Trust Accounts
The information presented is updated according to last report received and recorded. For the most current information, please contact the financial institution(s) directly. The information on this page lists a comparable rate status of either "Comparable rates verified" or "leadership" next to each financial institution. Comparable Rate Status - "COMPARABLE RATES VERIFIED" status is achieved when the financial institution pays the same rate of interest as any other interest-bearing account the financial institution offers to its "best customers." The "LEADERSHIP" status is achieved when the financial institution is willing to provide a rate of interest on IOLTA accounts that exceeds what is required for comparability. This status listing is provided to you so that you are able to stay informed about your IOLTA account.
| Click column heading to sort by column. | |||||||
| Bank Name (Last Updated) |
0-24K | 25-49K | 50-99K | 100-999K | >1M | Charges Per Account | Comparable Rate Status |
|---|---|---|---|---|---|---|---|
|
Mountain America Credit Union (07/10/08) |
0.250% | 2.280% | 2.570% | 3.110% | 3.350% | Waived | New |
|
Towne Bank () |
0.018% | N/A | N/A | N/A | 3.350% | Waived | Leadership |
|
First Bank (07/09/08) |
1.489% | 1.980% | 1.980% | 1.980% | 1.980% | Waived | New |
|
First National Bank of Arizona (05/31/08) |
1.340% | N/A | 1.690% | 1.690% | 1.690% | Waived | Comparable Rates Verified |
|
Northern Trust Bank (05/31/08) |
1.340% | 1.340% | 1.340% | 1.690% | 1.690% | Up to $5.00 Activity Charge Per Account | Leadership |
|
Bank of the West (07/10/08) |
0.100% | N/A | N/A | N/A | 1.500% | Waived | Pending Eligibility |
|
Bank First Corp. (06/27/08) |
1.250% | 1.250% | 1.250% | 1.250% | 1.250% | Waived | New |
|
National Bank of Arizona (05/31/08) |
0.950% | 0.950% | 1.250% | 1.250% | 1.250% | Waived | Leadership |
|
Community Bank of Arizona (05/31/08) |
N/A | N/A | N/A | N/A | 1.210% | Waived | Comparable Rates Verified |
|
Arizona Business Bank (05/31/08) |
1.200% | 1.200% | 1.200% | 1.200% | 1.200% | Waived | Leadership |
|
Bank of America (05/31/08) |
0.500% | 0.500% | 0.500% | 1.200% | 1.200% | Up to $2.00 Activity Charge Per Account | Leadership |
|
Esquire Bank (07/10/08) |
1.200% | 1.200% | 1.200% | 1.200% | 1.200% | Waived | New |
|
Harris Bank (05/31/08) |
0.590% | 0.740% | 0.990% | 1.090% | 1.090% | Up to $.59 Activity Charge Per Account | Leadership |
|
Silver State Bank (07/10/08) |
1.050% | 1.050% | 1.050% | 1.050% | 1.050% | Waived | Comparable Rates Verified |
|
UMB Bank (07/10/08) |
0.150% | N/A | N/A | N/A | 1.000% | Waived | Pending Eligibility |
|
Wells Fargo Bank (05/31/08) |
1.000% | 1.000% | 1.000% | 1.000% | 1.000% | Up to $2.00 Handling Charge Per Account | Pending Eligibility |
|
Asian Bank (07/24/08) |
0.500% | 0.500% | 0.500% | 0.500% | 0.500% | Waived | Comparable Rates Verified |
|
Camelback Community Bank (05/31/08) |
0.500% | 0.500% | 0.500% | 0.500% | 0.500% | Waived | Pending Eligibility |
|
Commerce Bank (06/24/08) |
0.500% | N/A | N/A | N/A | 0.500% | Waived | Comparable Rates Verified |
|
First Community Bank (07/10/08) |
0.500% | 0.500% | 0.500% | 0.500% | 0.500% | Waived | Comparable Rates Verified |
|
Johnson Bank (05/31/08) |
N/A | 0.500% | 0.500% | 0.500% | 0.500% | $5.00 Handling Charge Per Account | Pending Eligibility |
|
Summit Bank (05/31/08) |
0.500% | 0.500% | 0.500% | 0.500% | 0.500% | Waived | Comparable Rates Verified |
|
Sonoran Bank, N.A. () |
0.460% | N/A | N/A | N/A | 0.460% | Waived | Comparable Rates Verified |
|
Mission Bank (07/11/08) |
0.200% | 0.351% | 0.351% | 0.351% | 0.351% | Waived | Pending Eligibility |
|
Bank of Tucson (05/31/08) |
0.250% | 0.250% | 0.250% | 0.250% | 0.250% | Waived | Pending Eligibility |
|
M & I Bank (05/31/08) |
N/A | 0.250% | 0.250% | 0.250% | 0.250% | Waived | Pending Eligibility |
|
Meridian Bank (05/31/08) |
N/A | 0.250% | 0.250% | 0.250% | 0.250% | Waived | Comparable Rates Verified |
|
Metro Phoenix Bank (07/02/08) |
0.150% | N/A | N/A | N/A | 0.250% | Waived | Comparable Rates Verified |
|
Chase - JP Morgan (Bank One) (05/31/08) |
0.200% | 0.200% | 0.200% | 0.200% | 0.200% | Waived | Pending Eligibility |
|
Alliance Bank of Arizona (05/31/08) |
0.100% | 0.100% | 0.100% | 0.100% | 0.100% | Waived | Pending Eligibility |
|
Great Western Bank (07/10/08) |
0.100% | N/A | N/A | N/A | 0.100% | Waived | Pending Eligibility |
|
Bankers Trust (07/10/08) |
0.000% | N/A | N/A | N/A | 0.000% | Waived | New |
|
Goldwater Bank () |
0.000% | N/A | N/A | N/A | 0.000% | Waived | Inactive |
|
Marine Bank () |
0.000% | N/A | N/A | N/A | 0.000% | Waived | Not Yet Participating |
|
Valley Capital (07/10/08) |
0.000% | N/A | N/A | N/A | 0.000% | Waived | New |
|
1st Bank Yuma (05/31/08) |
0.000% | 0.250% | 0.250% | N/A | N/A | Waived | Comparable Rates Verified |
|
AmTrust Bank (05/31/08) |
N/A | N/A | 4.650% | 4.650% | N/A | Waived | Leadership |
|
Arizona Bank & Trust (05/31/08) |
0.400% | 0.400% | N/A | N/A | N/A | Waived | Pending Eligibility |
|
Arrowhead Community Bank (05/31/08) |
1.000% | 1.000% | 1.000% | N/A | N/A | Waived | Comparable Rates Verified |
|
Bank 1440 (05/31/08) |
N/A | N/A | N/A | N/A | N/A | Waived | New |
|
Bank of Oklahoma (05/31/08) |
1.500% | 1.500% | 1.500% | 1.500% | N/A | Waived | Pending Eligibility |
|
Bank USA (05/31/08) |
0.250% | N/A | N/A | N/A | N/A | Waived | Comparable Rates Verified |
|
Biltmore Bank of Arizona (05/31/08) |
N/A | N/A | 0.300% | N/A | N/A | Waived | Comparable Rates Verified |
|
BNC National Bank (05/31/08) |
0.100% | N/A | 0.100% | 0.100% | N/A | Waived | Pending Eligibility |
|
Canyon Community Bank (05/31/08) |
1.000% | N/A | N/A | 1.000% | N/A | Waived | Pending Eligibility |
|
Comerica Bank (05/31/08) |
0.250% | N/A | N/A | 0.500% | N/A | Waived | Leadership |
|
Compass Bank (05/31/08) |
1.000% | 1.000% | 1.000% | 1.000% | N/A | Waived | Pending Eligibility |
|
Copper Star (05/31/08) |
0.750% | N/A | 0.750% | 0.750% | N/A | Waived | Comparable Rates Verified |
|
Country Bank (05/31/08) |
1.500% | 1.500% | 1.500% | 1.500% | N/A | Waived | Comparable Rates Verified |
|
Desert Hills Bank (05/31/08) |
0.250% | N/A | 0.050% | 0.050% | N/A | Waived | Comparable Rates Verified |
|
First Arizona Savings (05/31/08) |
0.250% | N/A | N/A | 0.250% | N/A | Waived | Comparable Rates Verified |
|
First Fidelity (05/31/08) |
0.400% | 0.400% | 1.300% | 1.300% | N/A | Waived | Comparable Rates Verified |
|
First International Bank & Trust (05/31/08) |
0.400% | N/A | N/A | N/A | N/A | Waived | Pending Eligibility |
|
First State Bank (05/31/08) |
1.900% | N/A | N/A | 2.500% | N/A | Waived | Leadership |
|
First Western Trust Bank (07/24/08) |
N/A | N/A | N/A | N/A | N/A | Waived | New |
|
Foothills Bank () |
N/A | N/A | N/A | N/A | N/A | Waived | New |
|
Frontier Bank (07/02/08) |
N/A | N/A | N/A | N/A | N/A | Waived | New |
|
Gold Canyon Bank (05/31/08) |
1.060% | N/A | N/A | N/A | N/A | Waived | Comparable Rates Verified |
|
Heritage Bank (05/31/08) |
0.400% | 1.000% | 1.190% | 1.190% | N/A | Waived | Leadership |
|
Home National Bank (05/31/08) |
0.730% | N/A | N/A | 1.220% | N/A | Waived | Leadership |
|
Horizon Community Bank (05/31/08) |
0.350% | 0.400% | 0.400% | N/A | N/A | Waived | Pending Eligibility |
|
Ironstone Bank (05/31/08) |
0.250% | 0.250% | 0.250% | 0.250% | N/A | Waived | Comparable Rates Verified |
|
Irwin Union Bank (05/31/08) |
N/A | N/A | 0.100% | 0.100% | N/A | Waived | Pending Eligibility |
|
Legacy Bank (05/31/08) |
N/A | 0.500% | N/A | N/A | N/A | Waived | Comparable Rates Verified |
|
Los Padres Bank (05/31/08) |
1.240% | N/A | N/A | N/A | N/A | Waived | Comparable Rates Verified |
|
Mesa Bank (05/31/08) |
N/A | 0.990% | 0.990% | 0.990% | N/A | Waived | Pending Eligibility |
|
MidFirst Bank (05/31/08) |
N/A | 0.700% | N/A | N/A | N/A | Waived | Comparable Rates Verified |
|
Mohave State Bank (05/31/08) |
0.250% | N/A | 0.300% | 0.600% | N/A | Waived | Comparable Rates Verified |
|
Pinnacle Bank (05/31/08) |
0.150% | 0.150% | N/A | N/A | N/A | Waived | Comparable Rates Verified |
|
Southern Arizona Community Bank (05/31/08) |
0.650% | 0.650% | 0.650% | N/A | N/A | Waived | Pending Eligibility |
|
Stearns Bank (05/31/08) |
0.500% | N/A | N/A | N/A | N/A | Waived | Pending Eligibility |
|
Sunrise Bank of Arizona (05/31/08) |
0.500% | N/A | N/A | 0.500% | N/A | Waived | Pending Eligibility |
|
The Village Bank (05/31/08) |
N/A | 1.000% | N/A | N/A | N/A | Waived | Pending Eligibility |
|
US Bank (05/31/08) |
0.090% | 1.210% | 1.210% | 1.210% | N/A | Waived | Comparable Rates Verified |
|
Valley First Community Bank (05/31/08) |
0.150% | 0.150% | 0.150% | 0.150% | N/A | Waived | Comparable Rates Verified |
|
Washington Mutual Bank (05/31/08) |
0.500% | 0.500% | 0.500% | 1.200% | N/A | Waived | Comparable Rates Verified |
|
West Valley National Bank (05/31/08) |
N/A | 1.500% | N/A | 1.500% | N/A | Waived | Pending Eligibility |
|
Western National Bank (05/31/08) |
0.100% | N/A | 0.300% | 0.300% | N/A | Waived | New |
|
Yuma Community Bank (05/31/08) |
0.050% | 0.050% | 0.050% | 0.050% | N/A | Waived | Comparable Rates Verified |