Midland States Bank

Horrible! Worst bank in my life. I'm retired. They discriminated against me, blocked access to my money, tried to confiscate it, and when I objected to unfair business practices, they closed my account without telling me, then pursued more hardship for me. It appears that there is other litigation involving this bank. I don't recommend them to anyone.

Withdrew some cash using an ATM card from another bank. They charged a $4.00 fee. A bit higher than normal, but okay. I went inside and asked them to make change for the cash I withdrew. They refused. That's not OK, IMHO.

Horrible customer service. I was hung up on three times in a row on a Saturday. Twice by the people. They won't call you back. They don't follow through.

I had fraudulent transactions on my checking account and debit cards, which I contested. However, I was told that I had authorized them, which is impossible. I was paid on the last Friday in December of 2023, and by the end of that day, I was left with $45.00 in my checking account to last me two weeks until my next payment in January of 2024. This issue had been ongoing since at least October of 2023, and despite my repeated complaints, I received the same response each time. Additionally, being told by the teller and assistant branch manager that I should always know the contents of my account as it's my responsibility was inappropriate, especially in front of other customers in the bank lobby. It's challenging to keep your checking account reconciled when fraudulent transactions occur and overdrafts are taken without any resolution from the bank. I have since moved to another bank and couldn't be happier. I will never recommend Midland States Bank to anyone, as their customer service and attitude are unprofessional, and their refusal to refund or assist with the fraudulent transactions shows a lack of concern for their customers.

I have an in house loan. They would not help me during Covid pandemic. They changed my loan and added over $3,000.00 in fees and started the loan over so now I am paying more interest on my payments, and less going to principal. They also changed my credit report to 120 days late but I was in a forbearance and was only 60 days late at the time.

Every time I get paid (which is bi-weekly) my paystubs go through on Wednesday and my check should already be in my account by Thursday or Friday. My checks don’t even go through until the following Monday. Not only leaving me with absolutely no money for the weekend, but not having any money at all. My account overdrafts every single paycheck because I never get my paychecks in time. Everyone else that I work with says their checks come in Thursday/Friday morning. If it’s a holiday, make it Tuesday that I get my paycheck. It’s lazy work and I’m not sure if they’re just leaving for the weekend without a care or what. But I’m fed up with this. It’s been going on for 8 months now. I do not recommend using Midland if you’re hurting for money, because they won’t care to push your direct deposit through until it’s convenient for them. I find it incredibly disrespectful to have someone wait 5 days for their paycheck, when it was supposed to be there that previous Friday.

I had a separate issue where I was trying to get a loan for a USED car that was about $6000. They said I would have to put down $3000 or they won’t help me out. It was an older car and wasn’t even worth that to be honest. They went through the whole process like everything was fine, until they got to the end and then basically said “yeah, we’re not going to help you.” So even after running my credit, and getting my hopes up, they denied me. I have an amazing credit score and even with that, they didn’t care and I felt like they just wanted to turn me away.

If anyone is considering using Midland States Bank for estate or trust planning and administration, I’d urge you to be careful and do your due diligence. I’ll first say that I am a CPA with experience in corporate and estate tax/management who tried to step in and help. My experience over the last 2+ years is that this group fails to properly adhere to the industry standards and fiduciary responsibilities of a trustee. They fail to focus on the beneficiaries but instead focus on the bank/trustees wealth maximization. They hold monies of outside business shareholders that are not related to the estate/decedent as if they are part of the estate itself, take an excessive amount of time to liquidate assets (more than 14 months for an on-line land auction), and continue to hold an astronomical amount of the estate and shareholders funds that far exceeds any potential liabilities, with none known after 2 years time. They have made multiple mistakes in application of received funds, failed to ensure maximum value was received for property and sold items from the business that business owners stated they wanted to purchase. Those owners were told it had to be sold at auction and would be notified when they could bid. Assets were instead sold to unnamed parties with no notification and not at auction. Additionally they fail to provide proper documentation and full tax return copies on all accounts to the proper parties, even when requested on multiple occasions. Their ability to communicate is almost non-existent, even when escalating to upward management.

Given their experiences, impacted businesses shareholders and estate beneficiaries chose to reach out to multiple CPAs and attorneys to confirm consensus that this was being handled not just poorly, but in a grossly improper and egregious manner. The family/shareholders hired an attorney of their own to get the business funds not owned by the estate released, funds Midland knew they had no legal right to hold as part of the estate based on atty discussions. I myself had previously discussed the topic with both Connie Bontz and her manager Nicole Fasano. The hired attorney then brought it to their attention that the trust documents allowed for them to be terminated. At that time Ms Bontz agreed to disperse the business and rather than doing the legal thing timely, they continued to drag the process out and delay payments to the S-Corp Shareholders for more than 2.5 months while trying to blame others. It took re-clarifying we’d terminate them to get it. They paid out one business but not the other, after they had agreed to do so in writing. They continue to hold this businesses funds from its shareholders, and the estate funds from their proper owners, and not just a reasonable holdback amount, but the very large remainder of the estate that didn’t automatically transfer to heirs. They are stating it is the “policy and decision of Midland States Bank Fiduciary Review Committee to NOT make ANY distributions to beneficiaries from the estate or trust until we have received the federal estate tax closing letter from the IRS”. This can be a 2-4 year time frame.

The family and shareholders had preferred to try to make the relationship work so as to not add a complicated transfer part way through, esp at the point everything is in cash and is beyond the creditors claim period, but Midland and Connie Bontz continue to make that nearly impossible. The level of apathy/ignorance/incompetence I’ve witnessed is infuriating as a professional accountant. No family should EVER have to go through this with a paid trustee, one who has the moral, legal and fiduciary responsibility to manage funds with the beneficiaries interest as a priority over their own wealth gain.