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SPECIALTY PRODUCTS
| Interest
on Lawyers Trust Accounts (IOLTA) |
Midtown Bank has been approved by the State
Bar Association of Georgia to offer the IOLTA program.
| • |
$100 minimum opening balance. |
| • |
Earnings credit less total analyzed charges will
be forwarded to the State Bar Association. |
| • |
Items processed over 250 per statement cycle will
be assessed $.25 per item. |
| • |
Minimum daily balance of $2,500 required to avoid maintenance fee of $12 per statement cycle |
| Corporate
Cash Management |
A commercial “sweep account” can
be established to better help you utilize
excess cash balances based upon either
a “zero balance” or a predetermined
threshold. You may automatically transfer
excess funds to an insured commercial
money market, or an uninsured investment
account. You may also utilize a revolving
line of credit within your sweep account
to help meet short-term or cyclical cash
needs automatically. If necessary, sweep balances may be secured by US Treasury or Agency Securities pledged to your firm, when insurance above FDIC limits is required. |
