First Commercial Bank Is The Worst Bank Ever! This is a commercial lending bank with vast funding ability.
However, it has a few devastating shortcomings that is making it the worst lending choice for a small business owner:
1. Constant staff changes in its loan department. Loan officers come and go, but this bank changes its staff almost every year!
You pretty much have to start over your relationship just as soon as you’ve established one.
You end up with lost time and energy spent trying to get your account serviced correctly and efficiently.
2. Finicky and skittish loan review process. Being an institution on the list for constant review by the FDIC audit department, this bank is always asking the borrower to provide updated financial information, and it changes the borrower’s loan amount and payoff date on a whim.
I guess their less than stellar past records with the FDIC has put them in a much more disadvantaged position.
They certainly do not enjoy the confidence and leeway the FDIC exhibits for its better members.
3. Rude and unprofessional services. Changing employees at an alarming rate gives the new staff little or no incentive to forge long term relationship with their customers.
The employees are only interested in covering their banking policy and enforcing their constituent’s orders.
There’s little to no communication with their client and little regard to each client’s particular financial needs.
There are much better lenders out there. If you are an asian business, stay away from this particular bank.