Chicago Bancorp Reviews

I worked at Chicago Bancorp

Pros – Smaller business culture. Competitive pay structure. Flexibility with schedule/OT/hours worked. Management is committed to growing the company and aggressively pursuing profits. Decent benefits package.

Cons – Management is out of touch with employees/ do not provide ample support. Lack of trust of Sr. Management. Lending decisions are consistently undermined by senior management to maximize profits. Cliquey environment that makes it difficult for newer employees to get equal treatment.

Advice to Senior Management – In my experience at Chicago Bancorp I felt I never had the support of my manager. I was promised many things but management did not follow thru on many of their promises and would string me along. I felt I was being undermined on my lending decisions and had to sacrifice my own integrity and reputation with investors on loans that should never have been completed. For future employees I would hope you work on gaining their trust and be honest and straightforward with them.

No, I would not recommend this company to a friend

I have been working at Chicago Bancorp

Pros – The company is stable.
Job security is definitely attainable
The people there are very nice.
Pricing is competitive. Marketing is strong.

Cons – Operations continue to be their weakest link. Staff is overworked and customer service / appreciation is non existent.
The expectations made on their originators in terms of file flow is unreasonable.
Despite having to be responsible for all aspects of a file, mortgage bankers enjoy very little control in moving their files through to close.
Lock extensions and 60 day escrows are common,not exception and negatively impact Bankers earning potential.

Advice to Senior Management – Current system in place is barely functional. It's riddled with error after delaying error despite considerable redundancy. Would recommend modeling file flow after more successful traditional lending models. They have potential to be a great company& could double production numbers with the same # of staff if they embraced some much needed changes and attitude adjustments.

No, I would not recommend this company to a friend