Complaints
This profile includes complaints for Magnolia Bank's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Complaints Summary
- 9 total complaints in the last 3 years.
- 8 complaints closed in the last 12 months.
If you've experienced an issue
Submit a ComplaintThe complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.
Initial Complaint
Date:07/17/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
non stop harassment from this business from and with different phone numbers
Business Response
Date: 07/18/2025
Magnolia Bank takes complaints seriously and views it as an opportunity to improve our customer experiences. We understand that the service levels provided to you may have been disappointing, but we strive to serve each customer in a consistent, friendly, and professional manner.
We have reviewed the calls in question and have taken proper action internally. Your information has been placed on our internal Do Not Call list, you also may wish to register with the ******* ***** ************ National Do Not Call registry at ***************************
If you would like to discuss this matter further, please contact us at [email protected].
Thank you.
Initial Complaint
Date:02/27/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
******* ******** **** **** ***** ***** ********** ** ***** ****** ***** ******** ****** ************************
Complaint Against:
• Magnolia Bank
• ******* *******
Nature of Complaint: Predatory Lending Practices and Fraudulent Loan Purchase
I am filing this complaint regarding Magnolia Bank’s predatory lending practices and ******* *******’s involvement in the purchase of my loan despite known fraudulent activity.
Summary of the Issue:
1. Fraudulent Lending and Deceptive Practices
• Magnolia Bank engaged in unlawful lending practices in the handling of my *** loan.
• They misrepresented loan terms and failed to disclose crucial financial implications.
• They withheld critical documents, including my appraisal, despite multiple requests.
2. Violation of *** and *** Guidelines
• Magnolia Bank proceeded with a loan closing despite my missed December 2023 mortgage payment, which should have disqualified the loan.
• Under *** guidelines, my loan should not have been closed or transferred under these conditions.
• ******* ******* knowingly purchased this loan despite these violations.
3. Deceptive Loan Refinance Offer from ******* *******
.
Resolution Sought:
• A full investigation into Magnolia Bank’s lending practices for violations of consumer protection and fair lending laws.
• A review of ******* *******’s role in acquiring my loan under false pretenses.
• Immediate rescission of the loan agreement due to fraudulent practices.
• Monetary damages for the financial hardship caused by these actions.
Magnolia Bank and ******* ******* have acted in bad faith and violated federal lending laws. If this matter is not promptly addressed, I will pursue further legal action and make this information public to ensure consumer awareness.
I request the BBB to investigate these companies and take appropriate action.
Sincerely,
******* ********Business Response
Date: 03/04/2025
Magnolia Bank takes complaints seriously and view it as an opportunity to improve our customer experiences. We understand that the service levels provided to you may have been disappointing, but we strive to serve each customer in a consistent, friendly, and professional manner.
We have been in contact with you regarding this complaint. If you would like to discuss this matter further, please contact us at ***************************. Thank you.Initial Complaint
Date:02/19/2025
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
see Attached documentBusiness Response
Date: 02/24/2025
First off, on behalf of Magnolia Bank I want to sincerely apologize for the inconvenience these unwanted solicitations have caused you-
I was successfully able to locate the origination of these unwanted solicitations, they appear to have come from a Mail Center that we have used & I have taken the necessary steps, as of today, to ensure ALL of your contact information has been suppressed from their database & that they will CEASE ALL FURTHER COMMUNICATION WITH YOU-
I have also, as of today, had ALL of your contact information removed from ALL of Magnolia Banks contact lists & databases as well as placing you on Magnolia Banks DO NOT CALL lists-
Additionally, I am providing you with the website link to the Do Not Call Registry should you choose to register your phone number- **************************
Customer Answer
Date: 02/24/2025
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
******* *******If you are interested in supporting the BBB's free services, please consider giving to BBB's Consumer Education Fund, which provides other services to the community, like Charity Review, Identity Theft Seminars, Free Shred/Recycle Events, Senior Citizen programs, High School and College Programs, and providing information at local community events. Donations can be sent via Venmo to @bbbcefky or mail your donation to BBB Consumer Education Fund, 13104 Eastpoint Park Blvd., Louisville, KY 40223. For more information on these programs, call 800-388-2222. Thank you for your consideration.Initial Complaint
Date:01/02/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
on 1/2/2024 magnolia bank contacted me directly. They had my phone number, name, current home address, and loan information. The person on the call would not tell me how they received any of this information. Loan information was mentioned as well. I asked numerous times how they received my information, and the caller was unable to elaborate. Please make magnolia bank aware of the acts below to protect consumers. I never once gave out any information of that nature nor did I ever contact magnolia bank under any circumstances.
1. ****************** *** *****):
Protects consumers’ non-public personal information (NPI), including loan data, held by financial institutions.
Requires financial institutions to notify consumers about how their information is used and provide opt-out options for sharing data with third parties.
2. **** ****** ********* *** *****):
Regulates how credit information, including loan data, is collected, shared, and used.
Ensures that loan information reported to ****** ******* is accurate and provides consumers the right to dispute inaccuracies.Business Response
Date: 01/07/2025
Magnolia Bank takes complaints seriously and view it as an opportunity to improve our customer experiences. We understand that the service levels provided to you may have been disappointing, but we strive to serve each customer in a consistent, friendly, and professional manner. A member of our team has reached out to you in regard to this, and we will also ensure that your contact information is also placed on our Do Not Call List. If you would like to discuss this matter further, please contact us at ***************************. Thank you.Initial Complaint
Date:12/02/2024
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I continually get letters from Magnolia Bank *** ***** ******* ***** *********** ** *****, phone ************, wanting me to refinance my home loan with them. I have called and told them to stop but they continue to bombard my mailbox with their junk. Someone could get my information off the letters they send and would know my loan information. It is getting to be an extreme case of harassment. I wouldn’t refinance with them if I were looking to do so. Could someone from your organization help me to get them to STOP? I would really appreciate anything you could do to stop this constant harassment.Business Response
Date: 12/05/2024
Magnolia Bank takes complaints seriously and view it as an opportunity to improve our customer experiences. We understand that the service levels provided to you may have been disappointing, but we strive to serve each customer in a consistent, friendly, and professional manner. Your information has been removed from all of our mailing lists. If you would like to discuss this matter further, please contact us at [email protected]. Thank you.Customer Answer
Date: 12/06/2024
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
******* ********If you are interested in supporting the BBB's free services, please consider giving to BBB's Consumer Education Fund, which provides other services to the community, like Charity Review, Identity Theft Seminars, Free Shred/Recycle Events, Senior Citizen programs, High School and College Programs, and providing information at local community events. Donations can be sent via Venmo to @bbbcefky or mail your donation to BBB Consumer Education Fund, 13104 Eastpoint Park Blvd., Louisville, KY 40223. For more information on these programs, call 800-388-2222. Thank you for your consideration.Initial Complaint
Date:07/30/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I have received cold sales calls near daily for weeks asking me to refinance my property. I have repeatedly asked to be removed from their call lists and they continue their relentless calls. This boarders on harassment. When I state I am not interested and to be removed from calls this they proceed to speak over me and push their agenda. This is not a professional way to conduct business.Business Response
Date: 07/30/2024
Magnolia Bank takes complaints seriously and view it as an opportunity to improve our customer experiences. We understand that the service levels provided to you may have been disappointing, but we strive to serve each customer in a consistent, friendly, and professional manner. Your information will be placed on the Do Not Call list. If you would like to discuss this matter further, please contact us at ***************************. Thank you.
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