Community First Bank | Lenders Doing Analysis by Hand
Challenges: Lenders Doing Analysis by Hand
Community First Bank in New Iberia, Louisiana didn’t think it needed a formal analysis system given the bank’s size. Each lender was doing his or her own analysis by hand. However, after the FDIC exam, Community First Bank realized it needed to invest in a formal, consistent system of credit analysis.
The Solution: Standardized Global Cash Flow Analysis
Community First Bank had previously heard of Abrigo, but did not purchase the solution at that time; however, after receiving feedback from examiners, bank management decided now was the time to purchase Abrigo Credit Analysis. With a standardized global cash flow analysis process through Abrigo, Community First Bank now has clear, consistent methodology. Additionally, the lenders now have more time to network with a dedicated analyst on staff.