NOTICE from the ARDC

August 29, 2011

If your bank does not yet appear on the List of Financial Institutions Eligible to Hold Trust Accounts as of September 1, 2011, do not panic.

There are now more than 300 financial institutions included on the List of Financial Institutions Eligible to Hold Trust Accounts. To date, only one small bank has refused to be included on that list. However, a significant number of banks have not yet submitted an agreement to provide overdraft notification, which is a prerequisite to being included on the list.

The ARDC and the Lawyers Trust Fund of Illinois are working with banks and other financial institutions to make compliance with the new provisions of Rule 1.15 as easy as possible. Some banking institutions have informed the ARDC that they want to comply with the new trust account rules, cannot meet the deadline, but are hoping to accommodate depositors as soon after September 1, 2011 as is possible. We believe that most of the banks that have not yet submitted an agreement intend to do so, but require additional time. There is no immediate need to change banks.

If your bank does not yet appear on the List, there is no need to move your account to a different bank until you know, for a fact, that your bank does not intend to agree to Trust Account Overdraft Notification.

New Trust Account Overdraft Notification Agreements are coming in every day. Please continue to monitor this page and the ARDC website for updates to the list of eligible financial institutions.

Please note that, in light of the problems caused in the wake of Hurricane Irene, certain banks headquartered on the East Coast may not be in compliance with the Rule by the effective date.

New Requirements for Eligible Financial Institutions Effective September 1, 2011

The amendments to Rule 1.15 recently announced by the Illinois Supreme Court have changed the definition of eligible financial institutions. As of September 1, 2011 an eligible financial institution is one that:

  • Agrees to provide trust account overdraft notification to the ARDC under Rule 1.15(h), and
  • Offers IOLTA accounts within the requirements of Rule 1.15(f) (if it holds IOLTA deposits).

More information about this change is available from the Attorney Registration & Disciplinary Commission.

Using the Eligible Financial Institution List

Lawyers should confirm that their financial institution will be eligible under the amended rule when it takes effect September 1. The list on this page shows the financial institutions that are eligible under both criteria in Rule 1.15:

  • IOLTA eligibility: Every financial institution listed on this page is an eligible financial institution for the purpose of holding IOLTA deposits under the current rule.
  • Trust account notification agreement eligibility: Financial institutions that are in italics and underlined have agreed to provide overdraft notification to the ARDC effective September 1.

Note: This list will be updated frequently until September 1 to show financial institutions that submit overdraft notification agreements during August. Please visit this page again soon to see updates.

 

Eligible Financial Institutions as of: January 24 , 2012

(Financial institutions that are in italics and underlined are eligible under both criteria. Other financial institutions that are listed are eligible under IOLTA criteria only.)
1st Community Bank (Sherrard)
1st Equity Bank
Albany Bank and Trust Co.
Algonquin State Bank
Allied First Bank
Alpine Bank & Trust
Amalgamated Bank of Chicago
American Bank & Trust Company N.A.
American Chartered Bank
American Community Bank & Trust
American Eagle Bank
American Eagle Bank of Chicago
American Enterprise Bank
American National Bank of DeKalb County
AmericaUnited Bank & Trust Co. USA
Anna State Bank
Anna-Jonesboro National Bank
Apple River State Bank
Archer Bank
Archer Heights Credit Union
Arcola First Bank
Arthur Community Bank, a Division of Arcola First Bank
Associated Bank
Austin Bank of Chicago
Banco Popular
Bank & Trust Company
Bank Leumi
Bank of America
Bank of Belleville
Bank of Calhoun County
Bank of Carbondale (The)
Bank of Edwardsville
Bank of Farmington
Bank of Herrin (The)
Bank of Kampsville
Bank of Marion
Bank of O'Fallon
Bank of Pontiac
Bank of Quincy
Bank of Rantoul
Bank of Springfield
Bank of Stronghurst
BankChampaign
BankFinancial
BankORION
Banterra Bank
Barrington Bank & Trust Co. NA
Baytree National Bank
Belmont Bank & Trust
Better Banks
Beverly Bank & Trust
Blackhawk Bank (Beloit, WI)
Blackhawk Bank & Trust (Milan)
Bluestem National Bank
BMO Harris Bank N.A.
Bradford National Bank of Greenville (The)
Bridgeview Bank Group
Buena Vista National Bank
Builders Bank
Burling Bank
Burr Ridge Bank and Trust
Busey Bank
Business Bank of St. Louis (The)
Capaha Bank
Carrollton Bank
Casey State Bank
Cass Commercial Bank
Castle Bank, a division of First National Bank of Omaha
Catholic & Community Credit Union
Center Bank
Central Bank Illinois
Central Illinois Bank
Centrue Bank
Charter National Bank & Trust Co.
Charter One Bank (a division of Citizens Financial Bank)
Chase
Chicago Community Bank
CIBM Bank
Citibank NA
Citizens Bank of Chatsworth
Citizens Community Bank
Citizens Financial Bank
Citizens First National Bank
Citizens First State Bank
Citizens National Bank of Albion
Citizens National Bank of Paris
Citizens State Bank
City National Bank of Metropolis (The)
Clay City Banking Company
Cole Taylor Bank
CNB Bank & Trust NA
Commerce Bank
Community Bank - Wheaton/Glen Ellyn
Community Bank (Hoopestown)
Community Bank of DuPage
Community Bank of Elmhurst
Community Bank of Oak Park River Forest
Community Bank of Trenton
Community First Bank of the Heartland
Community National Bank in Monmouth
Community Southern Bank
Community State Bank (Galva)
Community State Bank of Rock Falls
Community Trust Bank
Cornerstone National Bank & Trust Co.
Country Bank
Crossroads Bank
Crystal Lake Bank & Trust
Delaware Place Bank
Devon Bank
Dewitt Savings Bank
Diamond Bank
Du Quoin State Bank
DuPage National Bank
East Dubuque Savings Bank
Edens Bank (a division of North Community Bank)
Edgar County Bank & Trust
Edgebrook Bank
Elgin State Bank
Elkville State Bank
Enterprise Bank & Trust
Erie State Bank (a division of First State Bank of Forrest)
Esquire Bank (New York)
Eureka Savings Bank
Evergreen Community Bank
Exchange State Bank
Fairfield National Bank
Farmer City State Bank
Farmers & Mechanics Bank
Farmers & Merchants National Bank of Nashville
Farmers and Merchants State Bank of Bushnell
Farmers National Bank of Griggsville
Farmers National Bank of Prophetstown
Farmers State Bank
Farmers State Bank & Trust Company
Farmers State Bank of Alto Pass
Farmers State Bank of Danforth
Farmers State Bank of Fulton County
Farmers State Bank of Hoffman
Farmers State Bank of Western Illinois
Farmers-Merchants National Bank of Paxton
Fayette County Bank
Fifth Third Bank
First American Bank
First Bank & Trust Evanston
First Bank and Trust Co. of Murphysboro
First Bank & Trust S.B. (Paris)
First Bank of Highland Park
First Bank of Manhattan
First Banks, Inc.
First Banks, Inc. - Wealth Management
First Chicago Bank & Trust (a division of Northbrook Bank & Trust)
First Clover Leaf Bank
First Collinsville Bank
First Commercial Bank
First Community Bank (Elgin)
First Community Bank (Plainfield)
First Community Bank & Trust
First Community Bank of Hillsboro
First Community Bank of Homer Glen & Lockport
First Community Bank of Joliet
First Country Bank
First Eagle Bank
First Federal Bank of Tuscola, a Division of Arcola First Bank
First Federal Savings & Loan of Kewanee
First Federal Savings Bank
First Financial Bank
First Financial Bank (Cincinnati)
First Mid-Illinois Bank & Trust N.A.
First Midwest Bank
First National Bank (Mattoon)
First National Bank (Vandalia)
First National Bank & Trust Co. (Wisconsin)
First National Bank & Trust Company (Clinton)
First National Bank & Trust Company of Rochelle
First National Bank in Amboy
First National Bank in Carlyle
First National Bank in Olney
First National Bank in Paxton
First National Bank in Pickneyville
First National Bank in Staunton
First National Bank in Taylorville
First National Bank in Tremont
First National Bank of Allendale
First National Bank of Arcola (The)
First National Bank of Barry
First National Bank of Brookfield
First National Bank of Carmi
First National Bank of Catlin
First National Bank of Chillicothe
First National Bank of Dieterich
First National Bank of Dwight
First National Bank of Illinois
First National Bank of LaGrange
First National Bank of Lacon
First National Bank of Litchfield
First National Bank of McHenry
First National Bank of Ottawa
First National Bank of Pana
First National Bank of Raymond
First National Bank of St. Louis
First National Bank of Sullivan
First National Bank of Waterloo
First Nations Bank
First Neighbor Bank N.A.
First Personal Bank
First Robinson Savings Bank NA
First Savings Bank of Hegewisch
First Security Bank
First Southern Bank
First State Bank (Mendota)
First State Bank (Monticello)
First State Bank of Bloomington
First State Bank of Forrest
First State Bank of Illinois
First State Bank Shannon-Polo
First Trust & Savings Bank (Wateska)
First Trust Bank of Illinois
First United Bank
FirstMerit Bank
Flora Bank & Trust
Forest Park National Bank & Trust
Foster Bank
Freedom Bank
Freestar Bank NA
Galena State Bank & Trust Company
Gateway Community Bank
Germantown Trust & Savings Bank
Glasford State Bank
Glenview State Bank
Gold Coast Bank
Golden Eagle Community Bank
Grand Ridge National Bank
Great Lakes Bank, N.A.
Grundy Bank
Guaranty Bank
Harvard State Bank
Havana National Bank
Heartland Bank & Trust Company
Heights Bank (The), a division of First State Bank of Forrest
Henry State Bank
Herget Bank, N.A.
Heritage Bank of Central Illinois
Heritage Bank of Schaumburg
Herrin Security Bank
Hickory Point Bank & Trust FSB
Hinsdale Bank & Trust
Home State Bank, N.A.
Homestar Bank
Hometown National Bank
HSBC
Hyde Park Bank & Trust Co.
Illini Bank
Illini State Bank
Illinois National Bank
Illinois State Bank, a Division of North Shore Bank
Inland Bank & Trust
International Bank of Chicago
Ipava State Bank
Iroquois Federal Savings & Loan Assn.
Itasca Bank & Trust Co.
Jersey State Bank
JPMorgan Chase
Lake Forest Bank & Trust
Lakeside Bank
LaSalle State Bank
Laura State Bank
Leaders Bank
Legence Bank
Liberty Bank
Liberty Bank for Savings
Libertyville Bank & Trust Co.
Lincoln State Bank, SB
LincolnWay Community Bank
Lisle Savings Bank
Litchfield National Bank
Logan County Bank
MainSource Bank
Marine Bank
Marine Bank & Trust
Marion County Savings Bank
Marquette Bank
Marseilles Bank
Mason City National Bank
MB Financial Bank
McHenry Savings Bank
Mercantile Bank
Merchants & Manufacturers Bank
Metropolitan Bank & Trust
Metropolitan Capital Bank
MidAmerica National Bank
Midcountry Bank
Midland Federal Savings & Loan Association
Midland States Bank
Midwest Bank of Western Illinois
Midwest Community Bank
Millenium Bank
Morton Community Bank
Municipal Trust & Savings Bank
Murphy-Wall State Bank & Trust Co.
National Bank & Trust Company of Sycamore
National Bank (Hillsboro)
National Bank of Earlville
National Bank of Petersburg
National Republic Bank of Chicago (The)
New City Bank
Norstates Bank
North Adams State Bank
North Bank
North Community Bank
North County Savings Bank
North Shore Community Bank & Trust
Northbrook Bank & Trust Co.
Northern Trust
Northside Community Bank & Trust
Northwest Bank of Rockford
NuMark Credit Union
Oak Bank
Old Exchange National Bank
Old National Bank
Old Plank Trail Community Bank
Old Second National Bank
Old Second National Bank (Kane County)
Old Second National Bank (Yorkville)
Oswego Community Bank
Oxford Bank & Trust
Pacific Global Bank
Pan American Bank
Park Ridge Community Bank
Parkway Bank & Trust Co.
PeopleFirst Bank
Peoples Bank & Trust
Peoples Bank of Kankakee County
Peoples National Bank, N.A.
Peoples National Bank of Kewanee
Peoples State Bank
Peru Federal Savings
Petefish Skiles & Co. Bank
Plaza Bank
PNC Bank NA
Port Byron State Bank
Prairie Community Bank
Prairie State Bank & Trust
Premier Bank of Jacksonville
Princeville State Bank
Providence Bank LLC
Quad City Bank & Trust Company
Regions Bank
Reliance Bank
Republic Bank of Chicago
Resource Bank, N.A.
Riverside Community Bank
Rockford Bank & Trust
Rushville State Bank
Schaumburg Bank & Trust
Schuyler State Bank
Scott State Bank
Seaway Bank & Trust Company
Security Bank, SB
Security Savings Bank
Self Reliance Ukranian American Federal Credit Union
Shelby County State Bank
Signature Bank
South Central Bank
South Side Trust & Savings Bank
Southeast National Bank
SouthernTrust Bank
Southwest Chicago Chapter Credit Union
Soy Capital Bank & Trust
Spring Valley City Bank
St. Charles Bank & Trust
Standard Bank & Trust Company
State Bank (Freeport)
State Bank of Cerro Gordo
State Bank of Countryside
State Bank of Geneva
State Bank of Graymont
State Bank of Herscher
State Bank of Illinois
State Bank of Lincoln
State Bank of Speer
State Bank of the Lakes
State Bank of Toulon
State Bank of Waterloo
State Bank of Whittington
State Central Bank
State Street Bank & Trust Co.
STC Capital Bank
Stillman BancCorp NA
Suburban Bank & Trust Co.
Sumner National Bank of Sheldon
TCF National Bank
Tempo Bank
Teutopolis State Bank
The Bank of Lawrence County
THE National Bank
The National Bank & Trust Company
The PrivateBank
TheEDGEBANK, a branch of Premier Bank of Jacksonville
Tompkins State Bank
Town & Country Bank
Town & Country Bank (Quincy)
Town & Country Bank (Springfield)
Town Center Bank
Trustbank
Tuscola National Bank
UMB Bank
Union National Bank
Union Savings Bank
United Community Bank
United Trust Bank
Urban Partnership Bank
U.S. Bank
Valley Bank
Village Bank & Trust
Wachovia (a Wells Fargo Co.)
Washington Savings Bank
Washington State Bank
Waukegan Savings Bank
Wells Fargo Bank NA
West Central Bank
West Suburban Bank
Wheaton Bank & Trust
Williamsville State Bank & Trust
Winfield Community Bank
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