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Jun 7, 2017 10:00:00 AM

How to Build a Better Bank Board of Directors

As banks evolve, so should your leadership team and board. Shareholders, analysts, investors, and even customers want proof of diversity, collaboration, and confident decisions. No longer can a bank board be a ‘good old boys club’ comprised of leaders from the local business community. Effective leadership reflects the composition of the customer base, it encourages objectivity, and it brings a broader set of collective skills to bear.

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Topics: Board Members, Banking, Leadership

Jun 25, 2014 10:00:00 AM

Considerations for Board Membership Tenure

Do you want to have one of those awkward board room discussions? If so, bring up the topic of board member term limits. As I type this I can hear my two girls in their high pitch voices saying…awkward! This may be a tough discussion item, but I believe it is one that needs to occur in bank board rooms across the country. Many bank boards are comprised of significant stockholders and community leaders, but often with terms that are reminiscent of US Supreme Court justices.  

I had a conversation recently with a client and they expressed a desire to bring some “new blood” with fresh ideas to the board but don’t have room on the board unless current members retire. That statement may be part of the issue. Often, leaving a board is considered “retiring” and only happens due to mandatory age limits or health reasons. 

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Topics: Board Members, Recruiting

May 28, 2014 3:21:00 PM

Is There a Correlation Between Board Engagement and High Performance?

As a Board member, am I highly engaged in my bank’s activities or am I focused on the basic requirements? As the overall banking environment continues to evolve and as regulations remain high, board members can offer insight that is very impactful.

High performing boards go beyond handling the ‘basics’ to counsel and challenge management on the bank’s vision, strategic plan, operational best practices and changes in market behavior. Boards bring the opportunity of infusing a wealth of diversity in backgrounds, experiences and leadership that can significantly enhance the growth and profitability prospects of their institution. As a Board member, am I engaging with management to add additional value to help the bank move forward and grow?

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Topics: Board, Board Engagement, Board Members, Director, Leadership