Franklin Community Bank, Westlake Branch

Name:Franklin Community Bank, Westlake Branch
Full Service Brick and Mortar Office
Review:1 client review
Location:12930 Booker T. Washington Highway
Hardy, VA 24101

Franklin County
View Other Branches
Branch Deposit:$36,496,000
FDIC Cert:#57259

The Bank

Name:Franklin Community Bank
Concentration:Commercial Lending Specialization
FDIC Insurance:2002-09-16
Holden By:Mainstreet Bankshares, Inc.
Charter Class:Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
# of Branches:3, view all, view on map
Total Assets:$166,667,000
Total Deposits:$140,665,000
Total Equity Capital:$23,954,000
Total Domestic Office Deposits:$140,665,000
Net Income:$901,000
Quarterly Net Income:$330,000
Return on Assets:1%
Quarterly Return on Assets:1%
Return on Equity:5%
Quarterly Return on Equity:6%

Client Review

1 client review of Franklin Community Bank scored 1 out of 5.

Franklin Bank Does Not Care
Overall Rating
by smltom, Dec. 01, 2010

This review is in regard to a commercial loan I co-sign for a business which I was not involved in the day to day operation. You can read my entire story by going to, but basically the owner sold the company which the bank had a lien against. These proceeds could have paid off the loan. The bank knew of the sale, knew about the money but did not make an effort to go after the money or inform me of this transaction.  I donít understand why they didnít as this was not in the benefit of the bank or me.  I have to assume someone at the bank made a deal with the seller or buyer not to.  I contacted the bank by writing a lengthy letter outlining my concerns. Certainly the bank president of a local community bank would take the time to listen to my concerns. The president never acknowledged my first letter and after 45 days I receive a response from some branch person who was never involved with the loan. After finding more issues I followed up with a second letter to the president. Again, the president of the bank, and remember this is a community bank with only 3 branches, did not acknowledge my letter, made no effort to contact me or listen to my concerns. Again, about 3 weeks later I receive a response from this branch person stating that they knew of the payment (which could have paid the note off) but decided it was in my best interest not to. At this point I did not know whether to laugh or cry. I thought, how can someone be some arrogant to state they made a decision that was in my best interest unless they asked me. I have been in business for over 25 years and have worked with numerous banks.  I know what to expect from the best banks and to be mis-lead and treated as collateral is not something the best banks do. This bank is as bad and as arrogant as the large Wall Street banks we all bailed out and is certainly the worse bank I have ever worked with in my 25 years of business.  I currently teach small businesses about customer service and the keys to customer service is communicating with your customers promptly, listening to what they say and really caring about their position and them as a customer.  This bank violated every one of these rules. The true test of excellent customer service is how a company deals with complaints, not how they handle satisfied customers.  I am as upset about their lack of concern or interest in my issues, as I am upset about the money.  All they had to do is show they cared.  I get completely outraged when businesses donít care and sooner or later every business that operates like this loses.  In Franklin County and Smith Mountain Lake there are far better banks than Franklin Community Bank such as Hometown Bank, Carter Bank, Member One, Bank of Botetourt, or even the larger banks such as SunTrust, or BB&T.  Even if you are a current customer and have no complaints, just the fact that this attitude persists at the top should concern you, because if they were willing not to even communicate with me, and treat me unfairly, then sooner or later this poisonous attitude will affect every customer.

* this reviewer has be with this bank for 3 - 10 years
* this reviewer had >10 banks before.
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