Press Release

Bank Director Releases Risk Survey Results

BRENTWOOD, TENN., Mar. 28, 2023 – Bank Director, the leading information resource for directors and officers of financial institutions nationwide, released its 2023 Risk Survey, sponsored by Moss Adams LLP. The survey reveals heightened concern by bank leaders around interest rates, liquidity management, credit and consumer risk.

While the survey was fielded in January, concerns about interest rates and liquidity risk became a reality in March, when a run on deposits imperiled several institutions. This led to two sizable bank closures: $209 billion SVB Financial Corp., parent of Silicon Valley Bank, and $110 billion Signature Bank.

Concerns remain about how the industry will fare in the next economic downturn. Craig Sanders, a partner at Moss Adams, says bankers more frequently wonder if the U.S. will experience a “big R or little r” recession. “If we hit another big recession, what is the consumer impact on their institution?” he says.

On top of interest rates, liquidity and credit concerns, respondents also identify cybersecurity (83%) and compliance (70%) as areas where their worries have increased, but managing the balance sheet has become, by and large, their first priority.

Findings also reveal that deposit pricing (51%) and talent retention (50%) are among the top strategic challenges that organizations face this year.

“Banks managed to weather the rising rate environment in 2022 with little movement in deposit pricing. That tide has been turning,” says Emily McCormick, Bank Director’s vice president of editorial & research. “Along with that challenge, we continue to see community banks fight to compete with larger institutions and other industries for the talent they need to grow their organizations.”

Key Findings Include:

Deposit Pressures
Asked about what steps they might take to manage liquidity, 73% of executives and directors say they would raise interest rates offered on deposits, and 62% say they would borrow funds from a Federal Home Loan Bank. Less favored options include raising brokered deposits (30%), the use of participation loans (28%), tightening credit standards (22%) and using incentives to entice depositors (20%).

Strategic Challenges Vary
While the majority of respondents identify deposit pricing and/or talent retention as significant strategic challenges, 31% cite slowing credit demand, followed by liquidity management (29%), evolving regulatory and compliance requirements (28%) and CEO or senior management succession (20%).

Continued Vigilance on Cybersecurity
Eighty-nine percent of respondents say their bank has completed a cybersecurity assessment, with most banks using the tool offered by the Federal Financial Institutions Examination Council. Respondents cite detection technology, training for bank staff and internal communications as the most common areas where they have made changes after completing their assessment. Respondents report a median of $250,000 budgeted for cybersecurity expenses.

Stress on Fees
A little over a third (36%) of respondents say their bank has adjusted its fee structure in anticipation of regulatory pressure, while a minority (8%) did so in response to direct prodding by regulators.

Climate Discussions Pick Up
The proportion of bank leaders who say their board discusses climate change at least annually increased over the past year to 21%, from 16% in 2022. Sixty-one percent of respondents say their bank doesn’t focus on environmental, social and governance issues in a comprehensive manner, but the percentage of respondents from public banks that disclose their progress on ESG goals grew to 15%, from 10% last year.

The survey includes the views of 212 directors, CEOs, chief risk officers and other senior executives of U.S. banks below $100 billion in assets. The survey results are now available online at

About Bank Director
Bank Director reaches the leaders of the institutions that comprise America’s banking industry. Since 1991, Bank Director has provided board-level research, peer-insights and in-depth executive and board services. Built for banks, Bank Director extends into and beyond the boardroom by providing timely and relevant information through Bank Director magazine, board training services and the financial industry’s premier event, Acquire or Be Acquired. For more information, please visit

About Moss Adams LLP
At Moss Adams, we believe in the power of possible. A business and personal advisory firm with more than 100 years of experience and 4,400 professionals across 30+ markets, including over 450 financial institutions, we work with clients to meet the rising challenges and opportunities of tomorrow. Discover how we can help you go where you want to be next. Upward.

For more information, please contact Bank Director’s Director of Marketing, Deahna Welcher, at [email protected].


Laura Alix

Director of Research

Laura Alix is the Director of Research at Bank Director, where she collaborates on in-depth strategic research for bank directors and senior executives, including Bank Director’s annual surveys. She also writes for and edits online video content. Laura is particularly interested in workforce recruitment and retention strategies, and environmental, social and governance issues facing the banking industry. Previously, she covered national and regional banks for American Banker, and before that, she covered community banks for Banker & Tradesman and The Commercial Record. Based in Boston, she has a bachelor’s degree from the University of Connecticut and a master’s degree from CUNY Brooklyn College. You can follow her on Twitter or connect on LinkedIn.