Gulf Coast Bank is headquartered in Abbeville and is the 37th largest bank in the state of Louisiana. It is also the 1,834th largest bank in the nation. It was established in 1971 and as of December of 2017, it had grown to 145 employees at 14 locations. Gulf Coast Bank has a B+ health rating.
We worked with them on a mortgage. We've never in our lives dealt with such incompetence. We don't understand how they stay in business. It took 3 weeks them to figure out how to open a pdf file. We had multiple reps lie to us and our real estate agent on multiple occurrences. When I called to file a complaint and work with someone else, they did nothing. I didn't even get the promised return phone call. It would take too long to comment on each ridiculous issue we've had with them. The bottom line is that you would be better off working with any but this bank. It saddens us to say this as we learned the hard way.
In short: they are incompetent, they lie, and they have each other's backs.
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!
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.
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
|FDIC Certificate #||20353|
|Return on Assets - YTD||0.94%|
|Return on Equity - YTD||7.75%|
|Annual Interest Income||$16.5MM|
|Assets and Liabilities|
|Assets||Q4 2017vs Q4 2016||$379.9MM$381.6MM|
|Loans||Q4 2017vs Q4 2016||$266.4MM$229.8MM|
|Deposits||Q4 2017vs Q4 2016||$331.9MM$333.7MM|
|Equity Capital||Q4 2017vs Q4 2016||$46.1MM$46.4MM|
|Loan Loss Allowance||Q4 2017vs Q4 2016||$2.8MM$2.5MM|
|Unbacked Noncurrent Loans||Q4 2017vs Q4 2016||$4.2MM$3.0MM|
|Real Estate Owned||Q4 2017vs Q4 2016||$1.4MM$633.00K|
Sorry, we do not have rate data for Gulf Coast Bank.