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Escrow Agency Accounts

Trust Services of First Financial Bank serves as a third party custodian of funds/assets for clients entering into a contract with another party.

We provide the following types of escrow services:

Contract Escrows
The deed/title to an asset or assets is held in safekeeping until the terms of the contract are satisfied.

  • Contract payments may, but are not required to, be deposited to the escrow agency. The escrow agent then releases the funds to the seller that provides accurate recordkeeping.
  • If a default occurs, we notify the responsible parties to resolve the matter as outlined in the escrow agreement.

Retainage Escrows

  • Funds required to be held as retainage between a contractor and an owner are held in a money market fund for safekeeping.
  • When the project is completed satisfactorily, the owner authorizes the release of the retainage funds plus any interest earned on the investment of the monies to the contractor.
  • If the contractor defaults on the completion of the project, pursuant to the terms of the escrow agreement, the monies are refunded to the owner.

We want you to know that investment products provided by Trust Services of First Financial Bank:

• Are not a deposit
• Are not FDIC insured
• Are not insured by any federal government agency or the bank
• May lose value

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