Gulf Coast Bank is headquartered in Abbeville and is the 34th largest bank in the state of Louisiana. It is also the 1,778th largest bank in the nation. It was established in 1971 and as of September of 2013, it had grown to 151 employees at 15 locations. Gulf Coast Bank has a B+ health rating.
I cannot even believe the banks online system. It's a common problem for their system to be full of "Glitches". Glitches which cause me to be hit with invalid nsf fees. Ridiculous! It seems to me that this is a very convient way for the bank to make extra money. Example: I made a deposit on Friday afternoon & did some shopping over the weekend-- my deposit is showing online as being made on Monday with my shopping before the weekend. Which has caused a $80 NSF charge on my acct. This is not the first time, but it will be the last.. I wouldn't recommend this bank to anyone!!
THIS IS REVIEW IS NOT DIRECTED TOWARD ANYONE NOR WILL IT BE RUDE. I JUST WOULD LIKE TO KNOW THAT AFTER DOING BUSINESS w/h GCB FOR MORE THAN 20 YEARS NOW HOW IT IS POSSIBLE THAT WE WERE DENIED THE RIGHT TO CASH A CHECK LOWER THAN 1400.00 b/c OUR ACCOUNT HAD BEEN OVERDRAWN EVEN THOUGH WE HAVE OVERDRAFT PROTECTION PLAN IN PLACE NOW FOR AS LONG AS I CAN REMEMBER. IT SEEMS TO ME AS THOUGH THIS DENIAL WAS PUT IN PLACE FOR OVERDRAFT CHARGES TO KEEP PROCESSING. SINCERELY DISAPPOINTED
This institution was THE most unorginized Banking Institution I have ever dealt with in my 35 years of banking. Their online banking is the worst and the bill pay system is a disaster.
When I walk up to a teller I do not want to hear anyone talking in "Slang" to me. I do not want a "HUG" from any Gulf Coast Employees. I get my hugs from my wife. Coping with the different rules from location to location is exausting. You never know what to expect if you go to a different location other than the one you most commomly use.
A few months back, one day I was in Wallmart in Abbeville, the Bank was closed, people were lined up in a row. There was this woman cussing out the line of people. Everyone in Wallmart could hear everything she was saying. Evidently she was some sort of Manager. She was very degrating. After all I had already been through with this Bank, upon witnessing that, it was the final straw. I would rather have "Professionals" handle my Money.
1) Had an escrow account but the bank did not pay my home owners and flood insurance. 2) Instead put expensive force placed insurance. 3) Back dated force placed insurance policy. 4)2 collateral properties I used to buy this property(my primary residence) had very good coverage but the bank put force placed insurance on those 2 as well.5) Did not apply any money towards the principal for 1 year.6)excessive late charges applied(MORE THAN $100.00) when they should not have charged more than $15.00. 7) The initial escrow deposit of $3,549.13 missing from the escrow account. 8) $3000.00 paid towards the loan is missing from the account 9) Permanent financing was done in September of 2010, @ my house that was still under construction without any witness or a notary present. 10) Did not give copies of my loan document for me to keep. In fact I didn't get them till October 2012. 11) A credit report was not given at the time of refinancing (after repeated requests) 12) The interest was calculated using 360/365 method & we were never informed or it (we were given the impression it was fixed) 13) The amortization schedule, initial escrow account disclosure and all other loan documents suggests I borrowed $410,000.00 but I only borrowed $404,073.15 in total. This makes a huge difference in calculating interest, principal and total payment amount.14) If they followed their amortization schedule: interest + principal = $2,826.19.It was never that amount. Amortization schedule suggests interest and principal is what changes not the total amount due.15) some months there was an accrued interest adjustment. I have no clue what it was or what happened to that money.16) The bank stopped sending statements for 2012 claiming they were sent to my old address. The address change was notified to the post office and has proof my mail was directed to my new address by the post office. The first statement I received from the bank for 2012 was dated, 10/15/2012.17) last nail on my coffin; Gulf Coast sold my loan to another fraudulent bank in Texas that is specialized in repo of mortgages. PLEASE BEAWARE OF THIS BANK!
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2013 Gulf Coast Bank had $6.07 million in non-current loans and owned real-estate with $45.83 million in equity and loan loss allowances on hand to cover it. This gives Gulf Coast Bank a Texas Ratio of 13.25% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Gulf Coast Bank held steady from 9.51% as of September 30, 2012 to 13.25% as of September 30, 2013, resulting in a negative change of 39.35%. This indicates that the balance sheet and financial strength for Gulf Coast Bank has held steady in recent periods.
In the past year, Gulf Coast Bank has increased its total deposits by $34.94 million, resulting in 12.09% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Gulf Coast Bank has shown is excellent.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Gulf Coast Bank has $369.62 million in assets with $45.83 million in equity, resulting in a capitalization level of 12.40%, which is excellent.
|FDIC Certificate #||20353|
|Assets and Liabilities|
|Equity Capital||$43.70 million|
|Loan Loss Allowance||$2.13 million|
|Unbacked Noncurrent Loans||$4.63 million|
|Real Estate Owned||$1.45 million|
|Historic Data - September 2012|
|Equity Capital||$43.68 million|
|Loan Loss Allowance||$2.61 million|
|Unbacked Noncurrent Loans||$4.63 million|
|Real Estate Owned||$188,000|
|Profit Margin - Quarterly|
|Net Interest Margin||4.38%|
|Return on Assets||1.08%|
|Return on Equity||9.12%|
|Interest Income||$11.82 million|
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