Pros
Work/life balance is not bad. Nobody really breathes down your neck. People are nice to work with and med/dental/401k is decent. PTO days need improvement however. If this is your very first job or your very last job this is the place for you. If you're in between, don't bother.
Cons
Prepare to be underpaid and work in an understaffed department (no matter where you are). Getting promotions and recognition for hard work is next to impossible. High attrition across the Bank b/c of low pay, no career development and greedy executive management. Extremely political work environment; unless you're connected through executive management or park a lot of money at the Bank you are replaceable. Favoritism/nepotism are rampant. Pretty much your quintessential "old school" banking establishment. Not a place for women or minorities. Lot of good people left b/c they couldn't take the low pay, politics and no career development and lack of leadership from executive management.