Bank Rotation

Parkside’s commercial banking team works with business owners to find financial solutions to help them grow their business and reach their goals. The commercial banking team, led by Andrew Hereford, is compromised of experienced lenders and analysts who are passionate about helping their clients and building meaningful relationships in the process. Parkside offers financial solutions to companies in a wide array of industries.

Education

The banking rotation was filled with educational experiences that developed a better understanding of the lending process and company’s creditworthiness. Throughout the rotation, we were assigned different readings such as “The Ten Commandments of Commercial Lending.” These readings helped us understand the language lenders and analysts use and reasoning behind their decisions. We also helped with financial statement analysis with the guidance of a mentor. This allowed us to apply skills we had learned in our respective business programs with the help of someone that has experience in the field.

Exposure

One of the best parts of the Parkside internship is the exposure to the commercial banking process and senior leadership. Throughout the rotation, we were able to sit in on loan committee meetings in which lenders and analysts present new business. We were able to listen in as lenders brought new business to committee for approval. Hearing the conversations between lenders and analysts gave us a picture of the thought that goes behind each new deal. The commercial lending teams also took the time to meet with us to discuss their career paths and the different aspects of being in commercial banking. This was a unique opportunity to hear about years of experience in the field and also ask any questions that might have come up throughout the rotation. The teams were very open to answering any questions, so these phone calls proved very beneficial.

SBA PPP Loans

One experience in the banking rotation I doubt any of us will ever forget was the entry of PPP loans into the loan management system. Parkside processed loans for its clients in the face of the coronavirus pandemic, a testament to the banks commitment to its clients. We were able to help the process along by entering these loans into Parksides system. This gave us a sense of the importance of the PPP loans to businesses during the crisis as well as the importance of a healthy banking relationship.