Professional Services
A Financial Partner for Firms
that Provide Expertise
Whether you run a law firm, accounting practice, consulting agency, or other professional service business, you understand the value of expertise and trust. That’s exactly what Thomaston Savings Bank delivers as your banking partner. We know professional service firms often deal with unique financial needs – lawyers must manage client trust accounts, CPAs juggle seasonal cash flows, and consultants require flexibility for project-based revenue. With our 150-year legacy of prudent, local banking, we’ve guided generations of professionals through changing economic and industry landscapes. And while many regional and national banks have merged or moved on, we remain an independent, community-focused bank that prioritizes your success. We tailor our treasury management and commercial lending solutions to fit the way you do business, so you can focus on serving your clients while we take care of your financial needs.
Specialized Deposit & Treasury Services
Professional service firms often handle other people’s money – and we make that responsibility easier.
IOLTA
For our legal clients, Thomaston Savings Bank is proud to be a Connecticut Bar Foundation-designated Leadership Bank for IOLTA (Interest on Lawyers’ Trust Accounts), offering one of the highest interest rates on IOLTA balances and discounted service fees.
IOREBTA
We also provide Interest on Real Estate Brokers Trust Accounts (IOREBTA), so real estate and property management firms can securely hold escrow funds while earning interest for housing programs.
Business Checking
All of our business checking accounts come with essential features like Online Banking, Mobile Deposit, Business Visa® Debit Cards, and no or low monthly fees, keeping your day-to-day transactions convenient and cost-effective.
Treasury Management
Through our Treasury Management suite, you can further streamline financial operations – from automated billing and collection (ACH Origination for recurring client fees) to Payables & Payroll services that save you time and improve cash flow. And with our advanced fraud prevention tools like Check and ACH Positive Pay, you can safeguard client funds and your firm’s assets with confidence.
Tailored Credit & Financing
As your practice grows, count on our commercial lending solutions to support your evolving needs.
We offer Business Loans and Lines of Credit that give you ready capital for hiring new talent, investing in technology, or bridging gaps between client payments.
Considering expansion, renovation, or acquiring another practice? Our team can structure competitive term loans or even SBA Loans with favorable terms to fuel your long-term growth.
For immediate cash needs or short-term projects, our Business Express Loan Program provides quick access to up to $50,000 in funding with a simplified application process – perfect for a fast infusion of capital, whether you’re upgrading office equipment or covering unexpected expenses.
We understand the cyclical nature of many professional firms and can craft repayment plans with flexible options to match your cash flow. At every step, you’ll have direct access to experienced commercial bankers who offer expert guidance and prompt decisions, never leaving you waiting when time is money.
Unmatched Convenience
and Support
Just as you provide personal service to your clients, TSB provides personal service to you.
Our Online & Mobile Banking platform, with features like mobile approvals for wire transfers and ACH payments, ensures you can manage your firm’s finances even when you’re in court, at a client site, or on the go.
Set up custom user permissions for your staff and get real-time account alerts so you always know what’s happening with your accounts.
Ready to Elevate Your Firm’s Financial Strategy?
Experience banking that works as diligently as you do. Get in touch with our team to discuss how our customized treasury management and lending solutions can support your firm’s growth and simplify your operations. Together, let’s craft a banking strategy that empowers your practice to thrive, year after year.
