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 comprised of experienced lenders who have many decades of combined experience and put an emphasis on relationships. Many borrowers are repeat customers who stay with Parkside due to the direct access to decision makers. Parkside is different as most of their business comes from connections and referrals from clients they’ve built strong relationships with.

Experience and Exposure

Parkside’s commercial banking team wants your time as an intern to be experiential. You won’t just read about prospective borrowers, you’ll listen in on phone calls with lenders. You won’t be doing busy work, you’ll be providing valuable help when creating loan memorandums or updating loan information. During your time in the banking rotation you’ll have the opportunity to sit in on the Loan Committee where you’ll see the dialogue between lenders and analysts and the decision making that goes behind each loan. The team wants to expose you to real business decisions that you just can’t get in your finances courses.

Building Your Skills

Throughout the rotation your mentor will give you interesting readings about the core concepts of commercial banking with the first being “The Ten Commandments of Commercial Credit.” These readings will help you understand the language used by lenders and analyst and the analysis that drives their decision making. They will also help you conduct your own financial statement analysis with the guiding hand of your mentor. Throughout the internship you’ll be learning valuable skills that can be applied across all of finance.

Asset and Liability Committee

Even if you’re more interested in the investment side of finance, commercial banking has plenty to offer through the “ALCO” (Asset and Liability Committee). As part of your time you’ll understand how the bank manages its own portfolio of investments in commercial and municipal bonds as well as asset backed securities and how you manage risk versus return.