Banking Rotation
About
Parkside is a commercial bank that focuses on building long-term relationships with its business clients. It is uncommon in the fact that it is a cash-flow lender and not lending based solely on collateral. The bank takes a personalized approach, working closely with companies to understand their needs and provide thoughtful financial solutions. Clients have direct access to experienced bankers who offer support across lending, cash management, and other banking services.
Projects & Tasks
Spread Financial Statements
Loan Renewals
Credit Analyses
Update Borrowing Base Report
Bank Readings
Maddie working on spreading a tax return.
Summary
The bank rotation was an amazing four weeks full of new information and experiences. We all learned so much about how a commercial bank operates and how Parkside provides loans to clients. Some of the highlights of the bank rotation were having the opportunity to sit in on loan committee, attend criticized asset committee, and even renew our own loans. It was great to be able to apply everything we had been learning and see how it went into practice in the daily operations of the bank.
We also were able to meet with each banking team and learn their specific function within the bank. Parkside is unique in the fact that it has a private equity team, as well as a search fund team in the New Hampshire office. Each team explained the type of lending they did and gave us the chance to ask any questions we had. This was a unique opportunity to gain first-hand exposure to different lines of business within the bank. Additionally, our mentors provided us with readings each week that helped us to understand things like collateral, a bank’s financial statements, and guarantees. We sat down with them after completing the readings and went over the material with them. Thank you Matt & Rene for answering all of our questions and being amazing mentors!
Our Experience
-
I had an excellent experience while working on the bank side! Before this internship, I didn’t have much previous knowledge of commercial banking, or banking in general since it had never been covered in my classes. I learned so much about how a commercial bank operates and how the different lending teams all work together. One of my favorite parts of working for the bank was sitting in on loan committee. Loan committee deepened my understanding of the loan approval process and it was amazing to see a few deals come through that I had worked with my mentor Rene on. I also was able to renew my own loan and work on every step of the process. I really enjoyed my four weeks working with the banking team, and I learned so much in a short period of time. Parkside has an amazing group of individuals who were more than happy to take time out of their day to share their passion for their work with us and answer any of our questions. Thank you for a great four weeks!
-
During the first four weeks of the summer, I was fortunate enough to be working alongside Kaitlyn in the banking rotation. Time flew as each day we had different assignments including spreading, forming renewals, and joining client calls. I enjoyed seeing the progression of a loan from its initial request in loan committee to its finalization in the loan creation department. With Parkside being a small company, I had the opportunity to talk to all the lenders throughout my rotation and learn more about their role within the bank. I’m grateful for having such a personal connection to my coworkers.
-
With banking being Catherine and I’s second rotation, it was an exciting change of pace halfway through the internship! I really enjoyed my experience on the bank side, just absorbing lots of information that I was previously unfamiliar to me. I especially liked the fast-paced nature of banking and working on lots of hands-on projects. During our four-week banking rotation, we were exposed to all the tasks that credit analysts are assigned, attended loan committee, and met with the different teams around the bank. It was great to be immersed into so many aspects of commercial banking, and this has sparked my interest to look into potential careers in banking!
-
During the second half of the internship, I was fortunate enough to shadow the banking rotation. During these four weeks, I was able to collaborate with the younger analysts and work together in spreading financial reports and data. When Maddie and I were not working in loan vantage, we were meeting with senior lenders and management. In these meetings we were able to get a broader understanding of the different roles within the team. I thoroughly enjoyed getting to know the different bankers. I also loved sitting in on the critical asset committee and loan committee. This rotation has provided me with the skills to apply in a future career!
