Quoted, How to build the board your bank needs, Independent Banker

Annual board assessments are a good idea for community banks but won’t solve the problem of keeping boards energetic and familiar with today’s issues, Peter Weinstock tells Independent Banker. “It’s not paint by numbers,” he says. “It’s not that you do an assessment and that tells you whether you’ve got problems on the board. Everyone knows if you’ve got problems on the board.” But the assessment can identify members’ skills before any board-rejuvenation process. Weinstock sees board term and age limits as “crutches” when board chairs cannot take appropriate action to address the issues. He asks, “If 80 percent of people working in the bank are women, does it seem like we are encouraging people working for us to rise to whatever level their talents dictate if there are no women, or only one woman, on the board?” 

Read How to build the board your bank needs, Independent Banker, June 1, 2019.