-
August 2023 by Bat M.
Attempted to get a $440,000 business loan...everything seemed to go smoothly until I began asking questions. There seems to be a lack of knowledge or lack of transparency or communication between borrowers and the bank.Number one, we paid for the appraisal it came back with some inaccuracies in my opinion, so the loan officer reached out to the appraiser to address my concerns. Bottom line the appraiser did not explain or justify his opinion regarding the lower value even though his own forecasted future value chart in his own report showed a much higher value per square foot. He was purely speculating and did not want to justify the inconsistencies in his own report. I digress, because this has nothing to do with the bank but sets up the unethical actions that the bank took in responding back to me. I was told on the phone by the loan officer that the appraiser was protecting the bank in his assessment of the property. I do not know if that was the banks opinion or the appraiser did actually tell the loan officer this. All I know is what I was told by the loan officer. And no matter who it came from it gives the appearance that the appraisal was not non-biased. I paid for the appraisal and if indeed the value was lowered to protect the bank, why did I pay for the appraisal and better yet, why is the appraiser protecting the bank and not me? In my opinion the appraisal must be non-biased, no matter who pays for it. On a side note I attempted to reach out to the appraiser to get more explanation to justify the perceived lower value value but got no response.Number two, they indicated that the title company required an ALTA survey. I tried to get an estimate from a surveyor to get one done and the surveyor was confused because the table A was not filled out correctly for the items that the title company were concerned with. many back and forths with the loan officer and never got a clear answer bout what was actually needed and it seemed like more was asked for than actually was needed. The loan officer was playing go between and could not communicate clearly to me what the title company was requiring. They should have just given me the contact info for the title company and moved out of the way. Come to find out, it was not the title company that required the survey....it was the bank. After a complete wasted week trying to jump thru the moving hoop, I decided to give up and tell the bank if they need the survey, they can pay the $10,000 to have it done. They declined.And for those reasons...I'm out
-
August 2020 by Keith P.
I have been banking with Community Bank of Santa Maria for well over 15 years. This is by far the best bank anywhere on the Central Coast. I have never had a single issue on any of my accounts in that entire time. Recently I applied for a PPP Loan. Applied on Monday and by Wednesday the same week, the money was in my account. I know people that took over 4 weeks to complete the same process they did in 48 hours. This was above and beyond service. If your tired of what little the big banks have to offer, open up your accounts with a locally owned and operated bank.
-
August 2020 by Mark B.
Small banks are being swallowed up by bigger banks. I wouldn't be surprised if this bank gets acquired by next year. Especially when nearly all board members are old (no offense) and would stand to make money from acquisition.
-
July 2020 by Blue M.
Horrible horror movie type of attitude these "women" treat there customers. So unprofessional, so rude, so belittling. A warning to new costumes please don't waste your time, or any money please don't put your money in this place. They make you feel you committed murder and look at you and judge you horribly. Thank god for the new bank I went to. Please people once again please watch your money with this so called bankers. This is the worst banking experience you will have.
