Why Partner with a Community Bank
Law firms manage operational accounts, client funds, and complex transactions under strict regulatory standards. First County Bank combines specialized products with attentive service and local decision-making, delivering swift, informed responses that align with your firm’s timelines and client commitments.
Solutions Built for Law Firms
IOLTA Accounts
Maintain client funds in compliance with Connecticut requirements while supporting legal aid through pooled interest. Our team guides you in setting up and managing IOLTA accounts with accuracy and efficiency.
Escrow Management Services
Manage real estate transactions, settlement funds, and escrow requirements with confidence. Our team sets up and oversees escrow accounts securely and efficiently so every detail is handled properly.
Streamline daily operations with solutions for law firms: Remote Deposit Capture, Online Wire Transfers, and Positive Pay fraud protection. Access secure online and mobile banking to monitor and manage accounts quickly and efficiently.
Customized Credit Solutions
Support firm operations and growth with flexible financing: working capital lines of credit, equipment loans, and term financing. Our team structures credit around your firm’s unique cash-flow cycles, delivering support that is timely and efficient.
Local Decisions. Trusted Partnership.
At First County Bank, your law firm benefits from more than just specialized products—we provide the responsiveness and trust your practice demands. With loan approvals and financial decisions made right here in Connecticut, you receive timely answers without delays from distant corporate offices. That local advantage is paired with our steadfast commitment to security, confidentiality, and compliance, ensuring every transaction aligns with the highest professional standards.
By choosing a community bank that values both speed and integrity, your firm can move forward confidently—protecting client relationships while strengthening your own reputation for reliable financial management.
Frequently Asked Questions
1. Why do law firms need specialized banking services?
Law firms benefit from specialized banking to manage client funds compliantly, oversee sizable trust accounts, and ensure transactions are secure and meet regulatory requirements. These services streamline day-to-day legal operations and preserve the integrity expected when handling client assets.
2. What is an IOLTA account and why is it important?
IOLTA (Interest on Lawyers Trust Accounts) are designated accounts where firms hold client funds that are nominal in amount or kept for a short period, making individual interest payments impractical. The interest earned is pooled to support legal aid programs. IOLTAs help firms meet legal standards while contributing to public service initiatives.
3. What should a firm look for in a banking partner?
Law firms should seek a banking partner with expertise in compliant handling of legal funds, strong security and fraud controls to safeguard client money, specialized offerings such as IOLTA and escrow services, and responsive customer support to address urgent financial needs promptly.
Talk to a Business Banker About Your Law Firm’s Needs
For a customized credit solution for your law firm, connect with John Dowling at jdowling@firstcountybank.com or 203-462-4361.
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