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Board Packets: How Much Is Too Much?
The first time I sat on a bank board was in 1984, and I remember the board packet being around 50 to 60 pages. I recently saw a board packet for a bank that was over 600 pages, and on top of that was another 300 pages for the holding company. Considering that most banks have monthly board meetings, it’s like having to read War and Peace or Moby Dick each month. People like to say that these monstrous board packets are really for the regulators, and while it might be largely true, it’s not entirely true. The true purpose...
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Joe Garrett is a director of a bank in Southern California�and was the CEO at American Liberty Bank during 1989-1994 in Oakland, California, and at Sequoia National Bank during 2000-2004 in San Francisco. He is a principal of the consulting firm Garrett, McAuley & Co.�